Drak [ARCHIVE] on Nostr: 📅 Original date posted:2013-11-14 📝 Original message:Given the meteoric growth ...
📅 Original date posted:2013-11-14
📝 Original message:Given the meteoric growth many are now saying we should just switch
straight to Satoshi (uBTC) because it looks like we will be seeing BTC
valued in the thousands pretty soon. Small decimal numbers are certainly
not very attractive to the masses. There's no point switching to mBTC only
to have to switch to uBTC later - especially when that later could be a lot
sooner.
Unless something is recommended/done by the bitcoin core developers I doubt
much will change at bitcoin user/consumer level.
Drak
On 14 November 2013 11:45, Melvin Carvalho <melvincarvalho at gmail.com> wrote:
> Rationale
> =======
>
> Given the recent rise in value there seems to be anecdotal evidence that 1
> bitcoin being so high is putting off a lot of normal buyers, because they
> feel that putting down $400+ and only getting "1 coin", or having to buy in
> multiples of 1 whole coin, is too much.. only after it being explained that
> they can buy fractional amounts to they regain interest, apparently
> happening increasingly.
>
>
> Straw Poll
> ========
>
> 6 months ago there was a straw poll on this
>
> https://bitcointalk.org/index.php?topic=220322.0
>
> Roughly 2/3 of respondents favoured switching
>
> A further 20% said to switch after it hits 1000
>
> Satoshi's comments:
> ================
>
> Eventually at most only 21 million coins for 6.8 billion people in the
> world if it really gets huge.
>
> But don't worry, there are another 6 decimal places that aren't shown, for
> a total of 8 decimal places internally. It shows 1.00 but internally it's
> 1.00000000. If there's massive deflation in the future, the software could
> show more decimal places.
>
> If it gets tiresome working with small numbers, we could change where the
> display shows the decimal point. Same amount of money, just different
> convention for where the ","'s and "."'s go. e.g. moving the decimal place
> 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.
>
> https://bitcointalk.org/index.php?topic=44.msg267#msg267
>
>
> Would now be a good time to start thinking about changing the default
> display in the software. Perhaps initially it could be a dropdown display
> option, then at some point mbtc becomes the default?
>
>
>
> ------------------------------------------------------------------------------
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📝 Original message:Given the meteoric growth many are now saying we should just switch
straight to Satoshi (uBTC) because it looks like we will be seeing BTC
valued in the thousands pretty soon. Small decimal numbers are certainly
not very attractive to the masses. There's no point switching to mBTC only
to have to switch to uBTC later - especially when that later could be a lot
sooner.
Unless something is recommended/done by the bitcoin core developers I doubt
much will change at bitcoin user/consumer level.
Drak
On 14 November 2013 11:45, Melvin Carvalho <melvincarvalho at gmail.com> wrote:
> Rationale
> =======
>
> Given the recent rise in value there seems to be anecdotal evidence that 1
> bitcoin being so high is putting off a lot of normal buyers, because they
> feel that putting down $400+ and only getting "1 coin", or having to buy in
> multiples of 1 whole coin, is too much.. only after it being explained that
> they can buy fractional amounts to they regain interest, apparently
> happening increasingly.
>
>
> Straw Poll
> ========
>
> 6 months ago there was a straw poll on this
>
> https://bitcointalk.org/index.php?topic=220322.0
>
> Roughly 2/3 of respondents favoured switching
>
> A further 20% said to switch after it hits 1000
>
> Satoshi's comments:
> ================
>
> Eventually at most only 21 million coins for 6.8 billion people in the
> world if it really gets huge.
>
> But don't worry, there are another 6 decimal places that aren't shown, for
> a total of 8 decimal places internally. It shows 1.00 but internally it's
> 1.00000000. If there's massive deflation in the future, the software could
> show more decimal places.
>
> If it gets tiresome working with small numbers, we could change where the
> display shows the decimal point. Same amount of money, just different
> convention for where the ","'s and "."'s go. e.g. moving the decimal place
> 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.
>
> https://bitcointalk.org/index.php?topic=44.msg267#msg267
>
>
> Would now be a good time to start thinking about changing the default
> display in the software. Perhaps initially it could be a dropdown display
> option, then at some point mbtc becomes the default?
>
>
>
> ------------------------------------------------------------------------------
> DreamFactory - Open Source REST & JSON Services for HTML5 & Native Apps
> OAuth, Users, Roles, SQL, NoSQL, BLOB Storage and External API Access
> Free app hosting. Or install the open source package on any LAMP server.
> Sign up and see examples for AngularJS, jQuery, Sencha Touch and Native!
> http://pubads.g.doubleclick.net/gampad/clk?id=63469471&iu=/4140/ostg.clktrk
> _______________________________________________
> Bitcoin-development mailing list
> Bitcoin-development at lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>
>
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