at what point will we move back the decimal?

MerchantMiner

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Quote from: marcotheminer on September 27, 2013, 05:43:42 AM

Never, all the will happen is people will refer to smaller amounts of but coins with names such as the millibit, microbit and the satoshi.

This simplifies things a lot!

Im not mining Butt Coins lol

This is the genius of BitCoin it has decimal places to create liquidity and with the way its been designed to stop inflation on a currency

markm

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You give people 25 million satoshis and they think that is not a lot?

-MarkM-

marcotheminer

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┴puoʎǝq ʞool┴

Never, all the will happen is people will refer to smaller amounts of but coins with names such as the millibit, microbit and the satoshi.

This simplifies things a lot!

mezzomix

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Quote from: jl2012 on September 27, 2013, 01:49:25 AM

This is Simple: 12 inches = 1 foot; 3 feet = 1 yard; 1760 yards = 1 mile

This is Complex: 1000um = 1mm; 1000mm = 1m; 1000m = 1km

Let me guess: You are a NASA engineer! Grin

jl2012

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Quote from: oleganza on September 27, 2013, 12:15:28 AM

To me it seems like an issue with american non-metric tradition. In Europe people easily say "1.86 meters" while in US it would sound too complex. There you have "6 feet 4 inches" - all whole numbers.

On the other hand, people are simply not used to use hard appreciating currency. Normally all dollars/franks/roubles are losing value and everyone uses bigger whole amounts for the same products. If you give people a deal "your money will increase its value, but for that you'd have to deal with smaller and smaller fractional units over time", would it be considered a great deal? I think people will educate themselves very quickly about anything when their money is involved (and could be controlled by them).

This is Simple: 12 inches = 1 foot; 3 feet = 1 yard; 1760 yards = 1 mile

This is Complex: 1000um = 1mm; 1000mm = 1m; 1000m = 1km

mogrith

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Use Coinbase Account almosanywhere with Shift card

if 1BTC≥$1000.00 for a year maybe

oleganza

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Software design and user experience.

To me it seems like an issue with american non-metric tradition. In Europe people easily say "1.86 meters" while in US it would sound too complex. There you have "6 feet 4 inches" - all whole numbers.

On the other hand, people are simply not used to use hard appreciating currency. Normally all dollars/franks/roubles are losing value and everyone uses bigger whole amounts for the same products. If you give people a deal "your money will increase its value, but for that you'd have to deal with smaller and smaller fractional units over time", would it be considered a great deal? I think people will educate themselves very quickly about anything when their money is involved (and could be controlled by them).

Inedible

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What doesn't kill you only makes you sicker!

I'd say if someone doesn't realise 1millibitcoin = 1/1000th of a bitcoin then they're not going to be smart enough to be able to secure their Bitcoin.

MerchantMiner

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Quote from: wickedgoodtrader on September 26, 2013, 02:49:42 PM

They should think about it. I've been giving BTC as birthday gifts and it sounds kind of lame to people that they got a quarter of a BTC. Also all the cool ways to give BTC have a minimum size of 1 BTC which is just too much to give away as a gift. I guess they could downsize their minimum order, but then again, it sucks getting like 1/4 of something.

dude if someone gave me a 1/4 bag of skunk i would be very happy. P.s dont do drugs kids

DeathAndTaxes

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Gerald Davis

Quote from: wickedgoodtrader on September 26, 2013, 02:49:42 PM

They should think about it. I've been giving BTC as birthday gifts and it sounds kind of lame to people that they got a quarter of a BTC. Also all the cool ways to give BTC have a minimum size of 1 BTC which is just too much to give away as a gift. I guess they could downsize their minimum order, but then again, it sucks getting like 1/4 of something.

There is no "they". Bitcoin is a consensus system. If you convince every single Bitcoin holder, miner, merchant, service provider, developer then yeah it will change. In other words it will never change. Give people 200 mBTC if you want to look like a big spender. 250 sounds big.

jackjack

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May Bitcoin be touched by his Noodly Appendage

Quote from: wickedgoodtrader on September 26, 2013, 02:49:42 PM

They should think about it. I've been giving BTC as birthday gifts and it sounds kind of lame to people that they got a quarter of a BTC. Also all the cool ways to give BTC have a minimum size of 1 BTC which is just too much to give away as a gift. I guess they could downsize their minimum order, but then again, it sucks getting like 1/4 of something.

I wouldn't mind a 1/4 of a million

wickedgoodtrader

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They should think about it. I've been giving BTC as birthday gifts and it sounds kind of lame to people that they got a quarter of a BTC. Also all the cool ways to give BTC have a minimum size of 1 BTC which is just too much to give away as a gift. I guess they could downsize their minimum order, but then again, it sucks getting like 1/4 of something.

jackjack

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May Bitcoin be touched by his Noodly Appendage

Never.

deeplink

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In cryptography we trust

Quote from: DeathAndTaxes on September 25, 2013, 01:44:11 PM

Quote from: og kush420 on September 25, 2013, 01:15:23 PM

at what point will we move back the decimal, if at all? and also do you think now is a good time theoretically? we could make 1btc = 1.35 usd. it would definitely make it easier for newcomers who wouldnt have to invest much to own '1 bitcoin'. it would mess with exchanges and stuff though.

Never.

Tell noobs you will sell them one "whole" mBTC for $1.35, much cheaper than 1 BTC for $135.

Nice one. 1 mBTC for $1.35 = 1 BTC for $1350

p.s. I'll sell them for $1

DeathAndTaxes

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Gerald Davis

Quote from: og kush420 on September 25, 2013, 01:15:23 PM

at what point will we move back the decimal, if at all? and also do you think now is a good time theoretically? we could make 1btc = 1.35 usd. it would definitely make it easier for newcomers who wouldnt have to invest much to own '1 bitcoin'. it would mess with exchanges and stuff though.

Never.

Tell noobs you will sell them one "whole" mBTC for $1.35, much cheaper than 1 BTC for $135.

gmaxwell

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Quote from: og kush420 on September 25, 2013, 01:15:23 PM

at what point will we move back the decimal, if at all? and also do you think now is a good time theoretically? we could make 1btc = 1.35 usd. it would definitely make it easier for newcomers who wouldnt have to invest much to own '1 bitcoin'. it would mess with exchanges and stuff though.

Never. But you can go switch your units to milibtc, or what have you. It's a setting in Bitcoin-QT. If the software or services you use don't have settings for changing the units you should petition them to add them.

og kush420

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at what point will we move back the decimal, if at all? and also do you think now is a good time theoretically? we could make 1btc = 1.35 usd. it would definitely make it easier for newcomers who wouldnt have to invest much to own '1 bitcoin'. it would mess with exchanges and stuff though.

Topic: at what point will we move back the decimal? (Read 1012 times)