Topic: How many coins would a digi. currency need when it is used worldwide by eveyone? - page 2. (Read 1560 times)

I see so lets say in the future when you visit some small village in africa. You buy an egg there, you use your cellphone or futuristic bitcoin device, the seller has something like that too. Both the devices don't show 0.00000000001 but yours shows 0.01 Super Mario Coins XD and the marchant likes to show it as 1 Sonic Ring both press ok. Transaction is done you get your egg.

Why are there so many articles about bc not having a future and all those alt coins then? We could just work on making BC the standard of payment worldwide by just using it everywhere.

There isn't a definite number needed, provided that a cryptocurrency is divisible, it would probably suit the needs of the people. Buying an egg for 0,00000000000000000000000000000001 and writing all the zeros is a hard task to do, so basically you would want to assign names as denominations go and extend from the first decimal place like millibitcoins, centibicoins, microbitcoins and so on.

Seems you already realize the advantage of being able to divide bitcoin into small denominations, but dont like it. You can just use a mobile app and ignore the amount in bitcoin and set it to show the amount only in dollars, so that ways you don't really have to worry about the 0's after the decimal.

The funny numbers coming up. I guess we are using the wrong term.Coins . How about we transform it using the lesser denomination. People will find the solution anyway.

You mistake is, that you use the term coin in here.
With digital currencies, I don't care if pay funny numbers like 0.00000049861.
With cash that is inconvenient , since I have to count various coins, to get the number right.
It also doesn't really matter if I pay 0.00000001 BTC or 1 Satoshi or if Bitcoin skyrocks even more and we suddenly have to use microSatoshi.
A digital currency is just much more flexible.

mbtc, umbtc is what you are looking for, in the case of one egg it should be 0,0003611 btc or you can simply write 0.3611 mbtc, but i actually prefer the first, where you don't need to do any math, even if it is really simple someone might find it annoying

Well, that won't be an issue IMO. The world isn't gonna run on a single crypto-currency in 50 years. There are numerous Altcoins that I am sure people will use along with Bitcoins. And as WhatTheGox has mentioned, we can always name the lesser denominations.

One of the problems with physical currency is that cash is being printed every single day and in a few decades from now, a single coke bottle will cost hundreds of dollars, for example, and a BMW will probably cost a billion dollars. When compared to that system, I think that the Bitcoin system is better, and there is always lesser chance of Black Money - I'm not an expert but just an opinion.

[Edit]: Also assuming that the world has around 7 Billion people and the population isn't going to steadily increase anytime in the future (it is possible given that everyone gives birth to three or more children), the amount of bitcoins that everyone is gonna hold is not going to increase. It means, there isn't going to be any inflation IINW. On the other hand, since the governments are gonna keep printing cash, the inflation is gonna keep rising.

Anyway to your original question, I think infinite number of coins would be required to completely get rid of all the denominations. Because, every single thing in this world can be bought and if the smallest thing to be sold is worth a coin, anything can be smaller than anything.

You wouldn't need to put a price label on the eggs of 000000000000000000.1 etc, you could either name lesser denominations below satoshi or i should imagine all product would be coded for price so you just scan over them. 

I like the idea of bitcoin, but buying an egg for 0,00000000000000000000000000000001 in 50 years is kind of stupid. In my opinion a digital currency needs the capability to be useable by everyone world wide and it should be possible to use one coin to buy something small like an egg. How many coins would a digital currency need if every person on this planet would use it?

Is there already a digital currency that could accomplish this?