Too early. I think we should look into that somewhere north of $100/btc.
ThisI think we should stick with milli and micro and skip the centi.
...and this
Topic: Would bitcoin benefit if MtGox changed its standard unit of account to bitcents? (Read 1204 times)
August 05, 2012, 06:47:09 AM
...and this
August 05, 2012, 05:59:16 AM
I think we should stick with milli and micro and skip the centi.
I agree!
August 04, 2012, 09:48:51 AM
I think we should stick with milli and micro and skip the centi.
August 04, 2012, 07:20:04 AM
Too early. I think we should look into that somewhere north of $100/btc.
I agree completely. Pose this question in a few years and the results may be tilted in the opposite direction.
August 04, 2012, 07:04:20 AM
Too early. I think we should look into that somewhere north of $100/btc.
August 04, 2012, 03:00:10 AM
I think that, due to habit, dealing with decimal fractions is more difficult for the average person than dealing with whole numbers, so given that bitcoins are now worth $10 each, and that only 21 million bitcoins will ever be generated, I think switching the main unit of account to bitcents could have huge benefits for the bitcoin economy. It would mean the average purchase would deal largely with whole numbers (e.g. 14.53 bitcents) rather than decimals (e.g. 0.1453 bitcoins).
Another benefit is that the value of a bitcent is more similar to that of the main unit of account of most currencies, which are valued at close to par with the US dollar or much lower (e.g. the Yen or Won), so people will be less likely to perceive bitcoin as over-priced when its main unit of account is worth 10 cents.
Thoughts?
Another benefit is that the value of a bitcent is more similar to that of the main unit of account of most currencies, which are valued at close to par with the US dollar or much lower (e.g. the Yen or Won), so people will be less likely to perceive bitcoin as over-priced when its main unit of account is worth 10 cents.
Thoughts?
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