I don't think that's true. The higher the price goes up, the more you are going to need smaller units. But that doesn't mean it devalues the amount I own.
Example: Let's say I have €10. The European Central Bank announces tomorrow that a euro will consist not of 100 cents, but of 1000 cents. I then have not 1000 cents but 10000 cents, meaning the value of one cent has gone down. But I still have €10, and its value (and the overall value of €) has not changed.
Topic: What would you do if another 2 decimals were added to Bitcoin? (Read 203 times)
November 24, 2017, 03:46:10 AM
It is clear that decimal numbers confuse you, but I think most people understand that 100.00 is the same as 100.0000 or even 100.00000000.
It is not certain that more decimal places will be needed (currently there are 8 places), but I don't think there will be a problem if more are added.
It is not certain that more decimal places will be needed (currently there are 8 places), but I don't think there will be a problem if more are added.
November 24, 2017, 03:38:03 AM
Just a little social experiment - 12/12 people that I asked, said that they would hold onto Bitcoin if another 2 decimals were added; Which is just ridiculous (but understandable)!
If Bitcoin (referencing to the network and dev team) add another two decimals onto Bitcoin, your Bitcoin is now worth 100x less...
Take this for example;
I have 100.00 (the dot is a decimal) units of something.
Now, I add an extra two zero's onto the end which gives me 100.0000 units - I can now divide the units up by 100x more thereby meaning that 100 units is now technically worth 1.000000 unit.
I think that the decimal place can often confuse and mislead people. The real question is, when Bitcoin eventually does add more decimals onto the end (and they will have to), how will the market react? Will there be a massive crash or will people be oblivious to the change?
Just a thought.
If Bitcoin (referencing to the network and dev team) add another two decimals onto Bitcoin, your Bitcoin is now worth 100x less...
Take this for example;
I have 100.00 (the dot is a decimal) units of something.
Now, I add an extra two zero's onto the end which gives me 100.0000 units - I can now divide the units up by 100x more thereby meaning that 100 units is now technically worth 1.000000 unit.
I think that the decimal place can often confuse and mislead people. The real question is, when Bitcoin eventually does add more decimals onto the end (and they will have to), how will the market react? Will there be a massive crash or will people be oblivious to the change?
Just a thought.
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