The average guy on the street has no idea what scientific notation is.
Come on. He doesn't know what a millimeter is? He doesn't ever use words such as kiloWatt, kilogram, MegaHertz, GigaOctet, and so on? ...
Topic: 21 million cap - page 2. (Read 21480 times)
Come on. He doesn't know what a millimeter is? He doesn't ever use words such as kiloWatt, kilogram, MegaHertz, GigaOctet, and so on? ...
Yes, really. We're not normal, we're geeks. Like everyone else reading this.
I swear that everyone in school learned this stuff!
The average guy on the street has no idea what scientific notation is.
Really? I learn that in schools like...several time!
Yes, really. We're not normal, we're geeks. Like everyone else reading this.
The average guy on the street has no idea what scientific notation is.
But if you're a merchant, you gotta post a price next to your product. I'd rather there were 10 trillion bitcoins in circulation and I could post a price mostly in integers that my customers would understand.
If you ever have to sell something for millibitcoins, other merchants will probably have to do the same and customers will just come to expect it.The average guy on the street has no idea what scientific notation is.
Really? I learn that in schools like...several time!
It is just as easy to transport 2000 bitcoins than 0.00002 bitcoins.
When money is immaterial it all boils down to notation conventions.
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Transportation isn't the issue. I'm talking about the market dynamic between merchant and customer. Average people who think "fractions are hard". Not the engineers and cryptologists that hang around here.
Also, you don't track units, you track available balances which conceptually allows for indefinite division, there's no such thing as a conceptual atomic bitcoin unit.
But if you're a merchant, you gotta post a price next to your product. I'd rather there were 10 trillion bitcoins in circulation and I could post a price mostly in integers that my customers would understand.
You could use scientific notation or perhaps specific decimal point as default.
The average guy on the street has no idea what scientific notation is.
When money is immaterial it all boils down to notation conventions.
You could use scientific notation or perhaps specific decimal point as default.
The average guy on the street has no idea what scientific notation is.
I just become aware of Bitcoin this week watching "Security Now" at Twit.tv. The main question I have about the system is why was 21 million bitcoins selected as the final cap? Why not something more "round" like 100 million or 1 billion? And why such a relatively small number? I understand about the 8 decimal places giving you essentially 2.1 quadrillion tradeable units. But the general public is not used to dealing with more than 2 decimal places in their currency. If the system took off to even the size of PayPal alone, a single bitcoin is going to be worth some huge number and we're all going to be buying things priced at inconvenient amounts like 0.00023, etc., right?
0.00023 BTC = 0.23 mBTC. I just become aware of Bitcoin this week watching "Security Now" at Twit.tv. The main question I have about the system is why was 21 million bitcoins selected as the final cap? Why not something more "round" like 100 million or 1 billion? And why such a relatively small number? I understand about the 8 decimal places giving you essentially 2.1 quadrillion tradeable units. But the general public is not used to dealing with more than 2 decimal places in their currency. If the system took off to even the size of PayPal alone, a single bitcoin is going to be worth some huge number and we're all going to be buying things priced at inconvenient amounts like 0.00023, etc., right?
21 million, purely arbitrary.
Also, you don't track units, you track available balances which conceptually allows for indefinite division, there's no such thing as a conceptual atomic bitcoin unit.
You could use scientific notation or perhaps specific decimal point as default.
I just become aware of Bitcoin this week watching "Security Now" at Twit.tv. The main question I have about the system is why was 21 million bitcoins selected as the final cap? Why not something more "round" like 100 million or 1 billion? And why such a relatively small number? I understand about the 8 decimal places giving you essentially 2.1 quadrillion tradeable units. But the general public is not used to dealing with more than 2 decimal places in their currency. If the system took off to even the size of PayPal alone, a single bitcoin is going to be worth some huge number and we're all going to be buying things priced at inconvenient amounts like 0.00023, etc., right?
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