The solution is obvious | Bitcointalksearch.org

Harley997

sr. member

Activity: 266

Merit: 250

Quote from: bitcats on March 22, 2014, 06:58:31 AM

The main reason why Bitcoin is not yet breaking through: BTC is much to expensive! When I tell people about Bitcoin, and when they hear how much 1 btc costs, their jaws drop down and there's nothing more to be say. People dont want to pay 1$ or 1€ to get 0.00something. Nobody is interested in Millis, Satoshis, etc, they want to get Bitcoins!
Thats one reason why Dogecoin gains that much popularity, it's cheap!

The solution: we just have to shift the decimal point, that's all. Once people get not less than 1 BTC for 1$, we will immediately witness an increasing demand, and the new ATMs will be drained dry Cheesy

This is illogical. Changing the price of bitcoin would not change the underlying fundamentals of it as a future currency. The same is true for when a stock splits.

A bitcoin can be divided into 8 digits and can easily be spent this way.

The issue with BTC is the large number of "scandals" and lack of ease of use

ivy

member

Activity: 63

Merit: 10

We need Par value of $100，we also need Par value of 1 cent

trc

full member

Activity: 164

Merit: 100

Quote from: STT on May 09, 2014, 07:34:55 PM

Quote from: Ibian on March 23, 2014, 10:10:39 AM

Quote from: 5thStreetResearch on March 22, 2014, 12:30:20 PM

This is a non-trivial problem. I have a friend who uses bitcoin to sports bet and will still call me every now and then when placing a bet to make sure he is betting the amount of money that he actually thinks it is. Using mBTC would be beneficial for the network.

Your friend is an idiot.

The average IQ is 100, you need simplicity not elitism to make a product that will get mainstream success. The OP is correct but it might be a question of labelling or marketing

Quote from: trc on March 23, 2014, 11:23:52 PM

Do they also not buy gold because they want a whole bar? What kind of logic is this FFS...

They buy a gold coin and the coin is minted and marked to a certain value of gold in it. Those coins often trade at a premium to their real gold content, the brand itself takes on an extra worth. It is a valid point being made, the use of BTC has to be seamless as possible

Quote

Well, I can most certainly say this will never happen.

Never say never, I think bitcoin needs to innovate to really succeed. That talk of side chains recently might be one way to relate multiple consumer friendly versions back to a solid standard like bitcoin

You're providing answers but it's like being able to write many essays about a topic where each version tries to disprove the others to a degree. However, facts remain facts and some facts don't ever change.

- He should be using a simple calculator and I'm sure not even a 70 IQ is required to do that. Being bad at simple math doesn't mean lack of intelligence but not trying to find ways to eliminate a handicap does.

- I admit that wallet softwares still have room for improvement but the use of Bitcoin is seamless already. You(not you - you) can even type in the local currency value of transactions if somehow you're uncomfortable with the numbers being dealt with. BTC to have more or less decimals doesn't change it's usability because you don't physically carry and count your Bitcoins. Just stop seeing it like and comparing to any physical value; stones, metals, liquids or gases with different metrics. Your wallet software does all the counting and value conversion!

- There will be a time when you'll realize why it is like it is. A chewing gum for one Satoshi maybe?.. "Never say never". Yes and no, but there you go.

This idea has no ground and is completely unnecessarily sentimental.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: Snorek on May 10, 2014, 02:29:30 PM

As a fairly new Bitcoin user I wouldn't mind adjusting decimal point. That said what about other users with a higher seniority? I'm pretty sure they got use to the value of Bitcoin.

100 years ago when prices were 1/20th of what they are today, people didn't have problems with decimal points. I think they can easily adjust.

Imagine someone from Japan where a Yen is worth 0.006 euros coming to the U.K. What would you say to that person when they complain about the decimals?

hashman

legendary

Activity: 1264

Merit: 1008

There are a few other things one must learn about bitcoin before using it effectively. One of them is that they are divisible. Some of us learned that a dollar was divisible into 100 cents, remember? It's not rocket science.

Snorek

legendary

Activity: 1400

Merit: 1001

As a fairly new Bitcoin user I wouldn't mind adjusting decimal point. That said what about other users with a higher seniority? I'm pretty sure they got use to the value of Bitcoin.

boumalo

legendary

Activity: 1918

Merit: 1018

Quote from: Bit_Happy on May 06, 2014, 03:25:07 PM

Quote from: dogechode on May 06, 2014, 08:45:17 AM

Quote from: Bit_Happy on March 27, 2014, 11:30:31 AM

Litecoin also has the advantage of lower prices; too early to tell if DOGE will survive.

The problem with doge is the number of coins makes price growth nearly unsustainable. 100 billion with inflation is freaking nuts. Other coins like litecoin, ruby, hbn, etc with more reasonable coin caps have a better chance of surviving. The community isn't EVERYTHING you have to have a reasonable economic model AND a good community.

Agreed that 100 billion is pushing the limits of sanity.
There is a need for spare change/"almost worthless" gambling money/micro-payments and the faster confirmations/low fees make some alt coins a valid option.

Bitcoin is still the front runner by far

I can see Doge still being here in 5years, I can't say that of all altcoins

NXTplayer

newbie

Activity: 42

Merit: 0

never,it's much too cheap,the price will rise 100 times.

STT

legendary

Activity: 4102

Merit: 1454

Quote from: Ibian on March 23, 2014, 10:10:39 AM

Quote from: 5thStreetResearch on March 22, 2014, 12:30:20 PM

This is a non-trivial problem. I have a friend who uses bitcoin to sports bet and will still call me every now and then when placing a bet to make sure he is betting the amount of money that he actually thinks it is. Using mBTC would be beneficial for the network.

Your friend is an idiot.

The average IQ is 100, you need simplicity not elitism to make a product that will get mainstream success. The OP is correct but it might be a question of labelling or marketing

Quote from: trc on March 23, 2014, 11:23:52 PM

Do they also not buy gold because they want a whole bar? What kind of logic is this FFS...

They buy a gold coin and the coin is minted and marked to a certain value of gold in it. Those coins often trade at a premium to their real gold content, the brand itself takes on an extra worth. It is a valid point being made, the use of BTC has to be seamless as possible

Quote

Well, I can most certainly say this will never happen.

Never say never, I think bitcoin needs to innovate to really succeed. That talk of side chains recently might be one way to relate multiple consumer friendly versions back to a solid standard like bitcoin

CADguy

full member

Activity: 330

Merit: 100

Quote from: dogechode on May 06, 2014, 08:45:17 AM

Quote from: Bit_Happy on March 27, 2014, 11:30:31 AM

Litecoin also has the advantage of lower prices; too early to tell if DOGE will survive.

The problem with doge is the number of coins makes price growth nearly unsustainable. 100 billion with inflation is freaking nuts. Other coins like litecoin, ruby, hbn, etc with more reasonable coin caps have a better chance of surviving. The community isn't EVERYTHING you have to have a reasonable economic model AND a good community.

+1

SportsBet

member

Activity: 75

Merit: 10

Quote from: vlees on March 22, 2014, 07:36:10 AM

No. Just no.

You should think twice before giving a laconic answer.
[/quote]

No.

alexeft

legendary

Activity: 854

Merit: 1000

Split hairs!!!

DrBitcoin

sr. member

Activity: 350

Merit: 294

I agree with OP. We need something like a split.

Born2Bwild

newbie

Activity: 17

Merit: 0

I don't think the reason is just in amount of it. The problem is not as obvious as it may seem. The main point is to show the full potential of bitcoin. There are a lot of pros in using cryptocurrency, such as nobody knows on what stuff you spend your money, another great bonus is that you can earn this money doing anything, just let you pc stay turned on all night. Of course I colored the truth, but people need this.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

Quote from: dogechode on May 06, 2014, 08:45:17 AM

Quote from: Bit_Happy on March 27, 2014, 11:30:31 AM

Litecoin also has the advantage of lower prices; too early to tell if DOGE will survive.

The problem with doge is the number of coins makes price growth nearly unsustainable. 100 billion with inflation is freaking nuts. Other coins like litecoin, ruby, hbn, etc with more reasonable coin caps have a better chance of surviving. The community isn't EVERYTHING you have to have a reasonable economic model AND a good community.

Agreed that 100 billion is pushing the limits of sanity.
There is a need for spare change/"almost worthless" gambling money/micro-payments and the faster confirmations/low fees make some alt coins a valid option.

boumalo

legendary

Activity: 1918

Merit: 1018

Quote from: lumierre on May 06, 2014, 08:40:21 AM

Quote from: boumalo on May 06, 2014, 08:21:24 AM

It is a lot about calculating more easily for the average bitcoiner as well

0.000367390-0.00002 require more time in average than 367,390-200,000 when you are not good in mental calculations

Good point. That's one more reason to use whole number units.

The fact that we can add a comma "," after every 3 numbers in the sequence greatly reduces confusion. Having 0.000,02 or 0.000,367,390 really doesn't make sense to anybody.

Basically, we take advantage of the comma in separating numbers. It's already used internationally for scientific or accounting purposes to speed up reading numbers so it may be a good idea to apply it in bitcoin too.

You can use the coma for thousands of bitcoins but being able to use it for thousands of bits would help

Btw not every county use the coma for thousands

ellen_me

full member

Activity: 158

Merit: 100

I think if the price of BTC is not that high as of now, they will not see it as a really good investment. It will pain a lot those who have several BTC if it will drops dramatically.

But I like the idea cause I want to have the BTC (as I do not have 1 yet), I just have Satoshis! Tongue

dogechode

full member

Activity: 182

Merit: 100

Quote from: Bit_Happy on March 27, 2014, 11:30:31 AM

Litecoin also has the advantage of lower prices; too early to tell if DOGE will survive.

The problem with doge is the number of coins makes price growth nearly unsustainable. 100 billion with inflation is freaking nuts. Other coins like litecoin, ruby, hbn, etc with more reasonable coin caps have a better chance of surviving. The community isn't EVERYTHING you have to have a reasonable economic model AND a good community.

lumierre

full member

Activity: 862

Merit: 100

Quote from: boumalo on May 06, 2014, 08:21:24 AM

It is a lot about calculating more easily for the average bitcoiner as well

0.000367390-0.00002 require more time in average than 367,390-200,000 when you are not good in mental calculations

Good point. That's one more reason to use whole number units.

The fact that we can add a comma "," after every 3 numbers in the sequence greatly reduces confusion. Having 0.000,02 or 0.000,367,390 really doesn't make sense to anybody.

Basically, we take advantage of the comma in separating numbers. It's already used internationally for scientific or accounting purposes to speed up reading numbers so it may be a good idea to apply it in bitcoin too.

boumalo

legendary

Activity: 1918

Merit: 1018

Quote from: lumierre on May 06, 2014, 08:13:17 AM

Anyone would feel richer if he/she had a bed of a million $1-dollar notes than a single $1m dollar note.

I think it's a good idea to make people feel richer even if the they are practically the same value.

I don't want to own "a piece" of something. I'd rather own something that I can imagine as a whole.

Manipulation of perception, it's very important in marketing...

It is a lot about calculating more easily for the average bitcoiner as well

0.000367390-0.00002 require more time in average than 367,390-200,000 when you are not good in mental calculations

Topic: The solution is obvious (Read 5344 times)