How can we split the currency?
Topic: Reminder - When stock prices hit 3 digits, people stop buying them. - page 2. (Read 3636 times)
June 08, 2011, 11:45:59 PM
Great point.
How can we split the currency?
How can we split the currency?
June 08, 2011, 11:42:17 PM
it is proven psychologically people slow down a lot in buying stocks with more than 2-digit prices. so they do stock splits of say 1-10 and break the stocks into smaller pieces. the prices start from $10 and climb all over again.
sure 10 $20 split stocks is equal to one $200 stock, you argue, so why do people buy one and not the other? it's just human nature.
unfortunately Bitcoins cannot do stock splits so once it hits $100 or more people will not stomach the prices.
you then say people can just buy 0.1 of Bitcoin but then that decimal point also turn people off in itself.
sure 10 $20 split stocks is equal to one $200 stock, you argue, so why do people buy one and not the other? it's just human nature.
unfortunately Bitcoins cannot do stock splits so once it hits $100 or more people will not stomach the prices.
you then say people can just buy 0.1 of Bitcoin but then that decimal point also turn people off in itself.
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