Andreas Schildbach [ARCHIVE] on Nostr: 📅 Original date posted:2014-03-14 📝 Original message:Indeed, rounding is the ...
📅 Original date posted:2014-03-14
📝 Original message:Indeed, rounding is the obvious easy fix. Bitcoin Wallet rounds all
amounts except if you type amounts with a higher precision.
On 03/14/2014 04:32 PM, Mike Hearn wrote:
> The issue here is that most people are producing prices in BTC by just
> multiplying through the spot rate with full precision. Obviously if you
> converted dollar prices to Euro prices with the same technique, you'd
> also end up with lots of numbers after the decimal point, but in the
> real world nobody actually does this. They always "prettify" the price.
>
> This practice often annoys people because they feel like they get short
> changed. The most notorious example is Apple which likes (liked?) to
> charge 99 cents per iTunes song in the USA, and 99 pennies per song in
> the UK, despite that the British pound is worth a lot more than the
> dollar. It should be more like 60 pence.
>
> Nothing stops BitPay rounding the mBTC price to look more natural, but
> right now it's not common practice.
>
>
> On Fri, Mar 14, 2014 at 4:02 PM, Andreas Schildbach
> <andreas at schildbach.de <mailto:andreas at schildbach.de>> wrote:
>
> By that definition 3.56 is a price. Maybe I misunderstood you and you're
> lobbying for mBTC?
>
>
> On 03/14/2014 03:57 PM, Tamas Blummer wrote:
> > you miss the point Andreas. It is not about the magnitude but about
> > the form of a price.
> >
> > A number with no decimals or with two decimals is percieved as a
> > price in some currency.
> >
> > A number with more than two decimals is just not percieved as a price
> > but as a geeky something that you rather convert to local currency.
> >
> > Tamas Blummer
> > Bits of Proof
> >
> > On 14.03.2014, at 15:49, Andreas Schildbach <andreas at schildbach.de
> <mailto:andreas at schildbach.de>
> > <mailto:andreas at schildbach.de <mailto:andreas at schildbach.de>>> wrote:
> >
> >> How much do you pay for an Espresso in your local currency?
> >>
> >> At least for the Euro and the Dollar, mBTC 3.56 is very close to what
> >> people would expect. Certainly more familiar than µBTC 3558 or BTC
> >> 0.003578.
> >>
> >> Anyway, I was just sharing real-world experience: nobody is confused.
> >>
> >>
> >> On 03/14/2014 03:14 PM, Tamas Blummer wrote:
> >>> You give them a hard to interpret thing like mBTC and then wonder
> >>> why they rather look at local currency. Because the choices you
> >>> gave them are bad.
> >>>
> >>> I think Bitcoin would have a better chance to be percieved as a
> >>> currency of its own if it had prices and fractions like currencies
> >>> do.
> >>>
> >>> 3.558 mBTC or 0.003578 BTC will never be as accepted as 3558 bits
> >>> would be.
> >>>
> >>>
> >>> Tamas Blummer Bits of Proof
> >>>
> >>> On 14.03.2014, at 15:05, Andreas Schildbach
> <andreas at schildbach.de <mailto:andreas at schildbach.de>
> >>> <mailto:andreas at schildbach.de <mailto:andreas at schildbach.de>>>
> >>> wrote:
> >>>
> >>>> btw. None of Bitcoin Wallet's users complained about confusion
> >>>> because of the mBTC switch. In contrast, I get many mails and
> >>>> questions if exchange rates happen to differ by >10%.
> >>>>
> >>>> I suspect nobody looks at the Bitcoin price. It's the amount in
> >>>> local currency that matters to the users.
> >>>>
> >>>>
> >>>> On 03/13/2014 02:40 PM, Andreas Schildbach wrote:
> >>>>> Indeed. And users were crying for mBTC. Nobody was asking for
> >>>>> µBTC.
> >>>>>
> >>>>> I must admit I was not aware if this thread. I just watched
> >>>>> other wallets and at some point decided its time to switch to
> >>>>> mBTC.
> >>>>>
> >>>>>
> >>>>> On 03/13/2014 02:31 PM, Mike Hearn wrote:
> >>>>>> The standard has become mBTC and that's what was adopted.
> >>>>>> It's too late to try and sway this on a mailing list thread
> >>>>>> now.
> >>>>>>
> >>>>>>
> >>>>>> On Thu, Mar 13, 2014 at 2:29 PM, Gary Rowe
> >>>>>> <g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>
> <mailto:g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>>
> >>>>>> <mailto:g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>>> wrote:
> >>>>>>
> >>>>>> The MultiBit HD view is that this is a locale-sensitive
> >>>>>> presentation issue. As a result we offer a simple
> >>>>>> configuration panel giving pretty much every possible
> >>>>>> combination: icon, m+icon, μ+icon, BTC, mBTC, μBTC, XBT,
> >>>>>> mXBT, μXBT, sat along with settings for leading/trailing
> >>>>>> symbol, commas, spaces and points. This allows anyone to
> >>>>>> customise to meet their own needs beyond the offered default.
> >>>>>>
> >>>>>>
> >>>>>> We apply the NIST guidelines for representation of SI unit
> >>>>>> symbols (i.e no conversion to native language, no RTL giving
> >>>>>> icon+m etc).
> >>>>>>
> >>>>>> Right now MultiBit HD is configured to use m+icon taken from
> >>>>>> the Font Awesome icon set. However reading earlier posts it
> >>>>>> seems that μ+icon is more sensible.
> >>>>>>
> >>>>>> Let us know what you'd like.
> >>>>>>
> >>>>>> Links: m+icon screenshot: http://imgur.com/a/WCDoG Font
> >>>>>> Awesome icon:
> >>>>>> http://fortawesome.github.io/Font-Awesome/icon/btc/ NIST SI
> >>>>>> guidelines: http://physics.nist.gov/Pubs/SP811/sec07.html
> >>>>>>
> >>>>>>
> >>>>>> On 13 March 2014 12:56, Jeff Garzik <jgarzik at bitpay.com
> <mailto:jgarzik at bitpay.com>
> >>>>>> <mailto:jgarzik at bitpay.com <mailto:jgarzik at bitpay.com>>
> >>>>>> <mailto:jgarzik at bitpay.com <mailto:jgarzik at bitpay.com>>> wrote:
> >>>>>>
> >>>>>> Resurrecting this topic. Bitcoin Wallet moved to mBTC
> >>>>>> several weeks ago, which was disappointing -- it sounded like
> >>>>>> the consensus was uBTC, and moving to uBTC later --which will
> >>>>>> happen-- may result in additional user confusion, thanks to
> >>>>>> yet another decimal place transition.
>
>
>
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> "Graph Databases" is the definitive new guide to graph databases and their
> applications. Written by three acclaimed leaders in the field,
> this first edition is now available. Download your free book today!
> http://p.sf.net/sfu/13534_NeoTech
>
>
>
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>
📝 Original message:Indeed, rounding is the obvious easy fix. Bitcoin Wallet rounds all
amounts except if you type amounts with a higher precision.
On 03/14/2014 04:32 PM, Mike Hearn wrote:
> The issue here is that most people are producing prices in BTC by just
> multiplying through the spot rate with full precision. Obviously if you
> converted dollar prices to Euro prices with the same technique, you'd
> also end up with lots of numbers after the decimal point, but in the
> real world nobody actually does this. They always "prettify" the price.
>
> This practice often annoys people because they feel like they get short
> changed. The most notorious example is Apple which likes (liked?) to
> charge 99 cents per iTunes song in the USA, and 99 pennies per song in
> the UK, despite that the British pound is worth a lot more than the
> dollar. It should be more like 60 pence.
>
> Nothing stops BitPay rounding the mBTC price to look more natural, but
> right now it's not common practice.
>
>
> On Fri, Mar 14, 2014 at 4:02 PM, Andreas Schildbach
> <andreas at schildbach.de <mailto:andreas at schildbach.de>> wrote:
>
> By that definition 3.56 is a price. Maybe I misunderstood you and you're
> lobbying for mBTC?
>
>
> On 03/14/2014 03:57 PM, Tamas Blummer wrote:
> > you miss the point Andreas. It is not about the magnitude but about
> > the form of a price.
> >
> > A number with no decimals or with two decimals is percieved as a
> > price in some currency.
> >
> > A number with more than two decimals is just not percieved as a price
> > but as a geeky something that you rather convert to local currency.
> >
> > Tamas Blummer
> > Bits of Proof
> >
> > On 14.03.2014, at 15:49, Andreas Schildbach <andreas at schildbach.de
> <mailto:andreas at schildbach.de>
> > <mailto:andreas at schildbach.de <mailto:andreas at schildbach.de>>> wrote:
> >
> >> How much do you pay for an Espresso in your local currency?
> >>
> >> At least for the Euro and the Dollar, mBTC 3.56 is very close to what
> >> people would expect. Certainly more familiar than µBTC 3558 or BTC
> >> 0.003578.
> >>
> >> Anyway, I was just sharing real-world experience: nobody is confused.
> >>
> >>
> >> On 03/14/2014 03:14 PM, Tamas Blummer wrote:
> >>> You give them a hard to interpret thing like mBTC and then wonder
> >>> why they rather look at local currency. Because the choices you
> >>> gave them are bad.
> >>>
> >>> I think Bitcoin would have a better chance to be percieved as a
> >>> currency of its own if it had prices and fractions like currencies
> >>> do.
> >>>
> >>> 3.558 mBTC or 0.003578 BTC will never be as accepted as 3558 bits
> >>> would be.
> >>>
> >>>
> >>> Tamas Blummer Bits of Proof
> >>>
> >>> On 14.03.2014, at 15:05, Andreas Schildbach
> <andreas at schildbach.de <mailto:andreas at schildbach.de>
> >>> <mailto:andreas at schildbach.de <mailto:andreas at schildbach.de>>>
> >>> wrote:
> >>>
> >>>> btw. None of Bitcoin Wallet's users complained about confusion
> >>>> because of the mBTC switch. In contrast, I get many mails and
> >>>> questions if exchange rates happen to differ by >10%.
> >>>>
> >>>> I suspect nobody looks at the Bitcoin price. It's the amount in
> >>>> local currency that matters to the users.
> >>>>
> >>>>
> >>>> On 03/13/2014 02:40 PM, Andreas Schildbach wrote:
> >>>>> Indeed. And users were crying for mBTC. Nobody was asking for
> >>>>> µBTC.
> >>>>>
> >>>>> I must admit I was not aware if this thread. I just watched
> >>>>> other wallets and at some point decided its time to switch to
> >>>>> mBTC.
> >>>>>
> >>>>>
> >>>>> On 03/13/2014 02:31 PM, Mike Hearn wrote:
> >>>>>> The standard has become mBTC and that's what was adopted.
> >>>>>> It's too late to try and sway this on a mailing list thread
> >>>>>> now.
> >>>>>>
> >>>>>>
> >>>>>> On Thu, Mar 13, 2014 at 2:29 PM, Gary Rowe
> >>>>>> <g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>
> <mailto:g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>>
> >>>>>> <mailto:g.rowe at froot.co.uk <mailto:g.rowe at froot.co.uk>>> wrote:
> >>>>>>
> >>>>>> The MultiBit HD view is that this is a locale-sensitive
> >>>>>> presentation issue. As a result we offer a simple
> >>>>>> configuration panel giving pretty much every possible
> >>>>>> combination: icon, m+icon, μ+icon, BTC, mBTC, μBTC, XBT,
> >>>>>> mXBT, μXBT, sat along with settings for leading/trailing
> >>>>>> symbol, commas, spaces and points. This allows anyone to
> >>>>>> customise to meet their own needs beyond the offered default.
> >>>>>>
> >>>>>>
> >>>>>> We apply the NIST guidelines for representation of SI unit
> >>>>>> symbols (i.e no conversion to native language, no RTL giving
> >>>>>> icon+m etc).
> >>>>>>
> >>>>>> Right now MultiBit HD is configured to use m+icon taken from
> >>>>>> the Font Awesome icon set. However reading earlier posts it
> >>>>>> seems that μ+icon is more sensible.
> >>>>>>
> >>>>>> Let us know what you'd like.
> >>>>>>
> >>>>>> Links: m+icon screenshot: http://imgur.com/a/WCDoG Font
> >>>>>> Awesome icon:
> >>>>>> http://fortawesome.github.io/Font-Awesome/icon/btc/ NIST SI
> >>>>>> guidelines: http://physics.nist.gov/Pubs/SP811/sec07.html
> >>>>>>
> >>>>>>
> >>>>>> On 13 March 2014 12:56, Jeff Garzik <jgarzik at bitpay.com
> <mailto:jgarzik at bitpay.com>
> >>>>>> <mailto:jgarzik at bitpay.com <mailto:jgarzik at bitpay.com>>
> >>>>>> <mailto:jgarzik at bitpay.com <mailto:jgarzik at bitpay.com>>> wrote:
> >>>>>>
> >>>>>> Resurrecting this topic. Bitcoin Wallet moved to mBTC
> >>>>>> several weeks ago, which was disappointing -- it sounded like
> >>>>>> the consensus was uBTC, and moving to uBTC later --which will
> >>>>>> happen-- may result in additional user confusion, thanks to
> >>>>>> yet another decimal place transition.
>
>
>
> ------------------------------------------------------------------------------
> Learn Graph Databases - Download FREE O'Reilly Book
> "Graph Databases" is the definitive new guide to graph databases and
> their
> applications. Written by three acclaimed leaders in the field,
> this first edition is now available. Download your free book today!
> http://p.sf.net/sfu/13534_NeoTech
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> <mailto:Bitcoin-development at lists.sourceforge.net>
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
>
>
>
> ------------------------------------------------------------------------------
> Learn Graph Databases - Download FREE O'Reilly Book
> "Graph Databases" is the definitive new guide to graph databases and their
> applications. Written by three acclaimed leaders in the field,
> this first edition is now available. Download your free book today!
> http://p.sf.net/sfu/13534_NeoTech
>
>
>
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>