Shift the decimal point over? - page 4.

kjj

legendary

Activity: 1302

Merit: 1025

Quote from: forbun on June 25, 2011, 04:22:03 PM

Quote from: flug on June 14, 2011, 03:21:12 PM

My vote is to NOT change BTC, but get used to talking in micro-BTC (UBT,UBC,uDTC,whatever the concensus), but that's not clearly available in the vote!

"micro" sounds too tiny when spoken aloud. I suggest a new name altogether. And it needs to be 2 syllables.

UBC is ok. But when spoken aloud, it should sound like "you-coins" (not "micro-bit-coins").

mBC is ok. But when spoken aloud, it should sound like "em-coins" (not "micro-bit-coins").

I wonder if mBC might be confused with "million". The m comes from micro, but obviously the real abbreviation for micro looks more like u.

So, let's go with UBC, pronounced "you-coins".

I'll send an "you-cent" to anyone who agrees with me Wink

I suspect that people will just say "milli" or "micro", just like we now say "cent" rather than "percent of a dollar".

And mBTC will never be confused for MBTC. The context will always make it clear.

jashan

newbie

Activity: 56

Merit: 0

I really liked the solution proposed in:

Solution: How to shift the decimal
http://forum.bitcoin.org/index.php?topic=13495.0

Maybe replace uBTC with UBC for now ... eventually (when no one really uses BTC anymore because it's too annoying), we can switch over and make UBC the new BTC and the transition will be complete without anyone being confused. It just takes a little time and patience but it will fix the worst problem Bitcoin currently has (well, except for that it doesn't properly support subscriptions ;-) ).

forbun

member

Activity: 107

Merit: 10

Quote from: flug on June 14, 2011, 03:21:12 PM

My vote is to NOT change BTC, but get used to talking in micro-BTC (UBT,UBC,uDTC,whatever the concensus), but that's not clearly available in the vote!

"micro" sounds too tiny when spoken aloud. I suggest a new name altogether. And it needs to be 2 syllables.

UBC is ok. But when spoken aloud, it should sound like "you-coins" (not "micro-bit-coins").

mBC is ok. But when spoken aloud, it should sound like "em-coins" (not "micro-bit-coins").

I wonder if mBC might be confused with "million". The m comes from micro, but obviously the real abbreviation for micro looks more like u.

So, let's go with UBC, pronounced "you-coins".

I'll send an "you-cent" to anyone who agrees with me Wink

jackjack

legendary

Activity: 1176

Merit: 1233

May Bitcoin be touched by his Noodly Appendage

Quote from: flug on June 14, 2011, 03:21:12 PM

I think it'd be suicide to revalue the BTC now, and it'll cause problems with people who don't upgrade old clients. Now that Bitcoin has been featured in Forbes and The Economist and people are trading at $20, this isn't very early days anymore.

This!

People use millilitters and milligrams, what's the problem using millibitcoins? Rename it if you want but we can't change BTC value

flug

sr. member

Activity: 280

Merit: 250

My vote is to NOT change BTC, but get used to talking in micro-BTC (UBT,UBC,uDTC,whatever the concensus), but that's not clearly available in the vote!

I think it'd be suicide to revalue the BTC now, and it'll cause problems with people who don't upgrade old clients. Now that Bitcoin has been featured in Forbes and The Economist and people are trading at $20, this isn't very early days anymore.

D.H.

sr. member

Activity: 311

Merit: 250

Bitcoin.se site owner

Quote from: Thanak on June 14, 2011, 12:19:09 PM

You have a lot of legacy article and video that explain that there will never be more bitcoin in circulation.

Remember, we are still very early in the life of Bitcoin, few people have actually heard about Bitcoin. We can't let "legacy article and video" stop us from making a change at this point if the change is for the better in the long run. It is possible to make this change now because there is not a lot of different clients, e-wallets etc. out there.

Quote

People have read that bitcoin will be limited to 21 millions.

The important thing to explain is that the number of Bitcoins is limited. It would be confusing anyway to state that the supply is limited to 21 million BTC if the unit that people are used to is mBTC or μBTC.

Nesetalis

sr. member

Activity: 420

Merit: 250

this brings forth thoughts of hitch hikers guide to the galaxy:
"The exchange rate of 8 Ningys to one Galactic PU is simple enough. However, since a Ningy is a triangular rubber-coin ,6800 miles along each side, no one has ever collected enough to own one PU. Besides which, if you did ever own enough, you would have a great deal of trouble exchanging them, as most banks refuse to deal in small change."

Thanak

newbie

Activity: 36

Merit: 0

Switching the decimal in GUI might be desirable but I think that using bitcoin to mean microbitcoin is a bad idea.

On of the biggest appeal of bitcoin is the fact that there will never be more. You have a lot of legacy article and video that explain that there will never be more bitcoin in circulation. People have read that bitcoin will be limited to 21 millions. They expect the value of a bitcoin to go up constantly.

The last thing you want, for a currency that is designed to be inflation proof, is to create the illusion of deflation... even if it would only be an illusion.

Starting to use microbitcoin might be ok, but don't rebrand them as the new bitcoin.

These guys understood that stock splitting only make it more complex to identify real value
http://finance.yahoo.com/q/bc?s=BRK-A+Basic+Chart&t=my

ripper234

legendary

Activity: 1358

Merit: 1003

Ron Gross

Quote from: Dansker on June 14, 2011, 05:46:19 AM

Definetely agree with moving the decimal point all the way in the GUI.

Better sooner than later.

Is there an open feature request on Github?
Any specific client version this will go into?
Yes, it's a simple, psychological thing ... but it's important for Bitcoin's growth.

What are the devs position on this?

Dansker

hero member

Activity: 740

Merit: 500

Hello world!

Definetely agree with moving the decimal point all the way in the GUI.

Better sooner than later.

ploum

sr. member

Activity: 428

Merit: 253

Quote from: ?? on ??

Quote from: ploum on June 13, 2011, 03:46:18 PM

I explained the concept of bitcoin to my mother and she read a bit by herself on the net. She said, after that, that she would never buy a bitcoin more than 1€. 20€ is definitely too much.

I think that this kind of reaction or misperception are really common and that's why we should move the decimal place.

So, she would not pay 20€ for one Bitcoin, but she would pay 1€ for 50 millibits?

Probably, yes.

MoonShadow

legendary

Activity: 1708

Merit: 1007

Quote from: randomguy7 on June 13, 2011, 05:08:58 PM

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?

Shouldn't. The bitcoin client doesn't store the decimal at all. 50 BTC is stored as a 64 bit integer representing a value of 5,000,000,000. The client only adds the decimal for human readability. Any calls to the system should be using the protocol's representation of the value, not the GUI's.

bcearl

full member

Activity: 168

Merit: 103

Quote from: randomguy7 on June 13, 2011, 05:08:58 PM

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?

I would just change the output in the bitcoin client. The data or machine readable outputs should not be changed at all.

randomguy7

hero member

Activity: 527

Merit: 500

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?

bcearl

full member

Activity: 168

Merit: 103

I think a shift of one would be great, then we would have that

1 BTC = $2.x
and
1 BTC = €1.x

which would fit nicely.

ploum

sr. member

Activity: 428

Merit: 253

I explained the concept of bitcoin to my mother and she read a bit by herself on the net. She said, after that, that she would never buy a bitcoin more than 1€. 20€ is definitely too much.

I think that this kind of reaction or misperception are really common and that's why we should move the decimal place.

ripper234

legendary

Activity: 1358

Merit: 1003

Ron Gross

Quote from: D.H. on June 13, 2011, 03:26:17 PM

Bumping this to give people a chance to vote before it closes.

My favorite option isn't there ... UBC.

D.H.

sr. member

Activity: 311

Merit: 250

Bitcoin.se site owner

Bumping this to give people a chance to vote before it closes.

Luke-Jr

legendary

Activity: 2576

Merit: 1186

Quote from: frycicle on June 10, 2011, 04:32:35 PM

Why can't they just put in a setting where you can show it however you want?

They don't want people to use Bitcoins any way other than the one they approve of. Spesmilo supports displaying things in various ways.

frycicle

member

Activity: 71

Merit: 10

Why can't they just put in a setting where you can show it however you want?

Topic: Shift the decimal point over? - page 4. (Read 16563 times)