Pages:
Author

Topic: Bitcoin needs to do a "stock split" and add new (sub)names - page 3. (Read 3309 times)

hero member
Activity: 868
Merit: 1000
I always ask anyone I'm talking with whether they've heard of bitcoins. 99% of the time the answer is no (and I mix with some clued up people). Within a minute most of them are intrigued. But now when they hear that the price is ~$150+ their response is, "Oh it's too high. It's risen too fast, too quickly." If however, the price was $1.50 or even $15+ they would probably jump in and spend just as much money. It's a psychological thing, like buying a thousand penny stocks vs spending $600 on a single share of Google. I think the bitcoin powers that be, need to think about naming the equivalent dimes, nickels and pennies of the BTC world so that newcomers aren't faced with sticker shock. One of the most common newbie misunderstandings is that bitcoins aren't divisible and a well presented naming convention would really help. Just my ever humble opinion, but what do others think? Do those names exist already?

tell'em about litecoin then ?
full member
Activity: 224
Merit: 100
I agree with the basics of your post, but I think that merchants will sort this out over time. As people are going to be seeing prices in mBTC or uBTC they will also start thinking about them in those terms.
legendary
Activity: 1946
Merit: 1006
Bitcoin / Crypto mining Hardware.
It's split into Satoshis already.
member
Activity: 75
Merit: 10
I don't think it's a good idea at all to split the bitcoin into multiple currencies. As time goes by, people will learn to get used to it and you'll get people saying "if only it were at 150$ I would invest".

Making things even more confusing is that last thing the bitcoin economy could use. It's already a lot for the common people who aren't used to work with encryptions...
sr. member
Activity: 371
Merit: 250
I always ask anyone I'm talking with whether they've heard of bitcoins. 99% of the time the answer is no (and I mix with some clued up people). Within a minute most of them are intrigued. But now when they hear that the price is ~$150+ their response is, "Oh it's too high. It's risen too fast, too quickly." If however, the price was $1.50 or even $15+ they would probably jump in and spend just as much money. It's a psychological thing, like buying a thousand penny stocks vs spending $600 on a single share of Google. I think the bitcoin powers that be, need to think about naming the equivalent dimes, nickels and pennies of the BTC world so that newcomers aren't faced with sticker shock. One of the most common newbie misunderstandings is that bitcoins aren't divisible and a well presented naming convention would really help. Just my ever humble opinion, but what do others think? Do those names exist already?
Pages:
Jump to: