Topic: Let us switch to milli and micro bits (Read 1240 times)
I like the idea of naming the decimal places after rainbow colors ROYGBIV, or maybe after the Brady Bunch family (minus Alice cuz she's the maid) =p
I'm thinking of making this configurable in my client, so people can choose for themselves whether they want their prices in BTC, uBTC, uBTC, etc. I have already explicitly marked all places where prices are shown with "BTC".
I second the idea of mBTC and uBTC, though of the same thing on my side actually.
Some places already do this. Betco.in uses "bitcents" as chips, 1 chip = 0.01 BTC. So the .01/.02 tables actually have btc blinds of .0001 and .0002.
My point is, you can already do this in your application or in your dealings with other people if you want. Just like in the store the price for something might be $0.50 or it might be 50 cents, it's the same thing. It's the person who makes the tags who makes the choice of how to display the price.
Likewise, I could tell you I got a $2000 tax refund this year (I wish lol) or I got a $2k tax refund. It's the same thing. It's the choice of the market participants to use whatever they want. No need to make anything "official".
Of course, eventually there will be a need for bitcoins to be divisible beyond 8 decimal places. This may not happen until miners only get transaction fees and the block reward itself is zero, but eventually it will happen if bitcoin persists. When they need to add more decimal precision to the system/official client, that might be a good time to consider moving the decimal point...
My point is, you can already do this in your application or in your dealings with other people if you want. Just like in the store the price for something might be $0.50 or it might be 50 cents, it's the same thing. It's the person who makes the tags who makes the choice of how to display the price.
Likewise, I could tell you I got a $2000 tax refund this year (I wish lol) or I got a $2k tax refund. It's the same thing. It's the choice of the market participants to use whatever they want. No need to make anything "official".
Of course, eventually there will be a need for bitcoins to be divisible beyond 8 decimal places. This may not happen until miners only get transaction fees and the block reward itself is zero, but eventually it will happen if bitcoin persists. When they need to add more decimal precision to the system/official client, that might be a good time to consider moving the decimal point...
I'm not asking to make an official proclamation. Just for the client to allow us to change how it's displayed.
Some places already do this. Betco.in uses "bitcents" as chips, 1 chip = 0.01 BTC. So the .01/.02 tables actually have btc blinds of .0001 and .0002.
My point is, you can already do this in your application or in your dealings with other people if you want. Just like in the store the price for something might be $0.50 or it might be 50 cents, it's the same thing. It's the person who makes the tags who makes the choice of how to display the price.
Likewise, I could tell you I got a $2000 tax refund this year (I wish lol) or I got a $2k tax refund. It's the same thing. It's the choice of the market participants to use whatever they want. No need to make anything "official".
Of course, eventually there will be a need for bitcoins to be divisible beyond 8 decimal places. This may not happen until miners only get transaction fees and the block reward itself is zero, but eventually it will happen if bitcoin persists. When they need to add more decimal precision to the system/official client, that might be a good time to consider moving the decimal point...
My point is, you can already do this in your application or in your dealings with other people if you want. Just like in the store the price for something might be $0.50 or it might be 50 cents, it's the same thing. It's the person who makes the tags who makes the choice of how to display the price.
Likewise, I could tell you I got a $2000 tax refund this year (I wish lol) or I got a $2k tax refund. It's the same thing. It's the choice of the market participants to use whatever they want. No need to make anything "official".
Of course, eventually there will be a need for bitcoins to be divisible beyond 8 decimal places. This may not happen until miners only get transaction fees and the block reward itself is zero, but eventually it will happen if bitcoin persists. When they need to add more decimal precision to the system/official client, that might be a good time to consider moving the decimal point...
Ie. If you have 2.31B, you would switch it in the menu to get 2310mB, or 2310000 uB. It makes it easier to talk about prices when there isn't a decimal place.
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