Bitcoin Forum

This thread is a poll to determine how needed sub-cent transaction precision is.

PLEASE NOTE: This is not about sending a transactions smaller than 0.01 BTC, but rather about sending transactions of (for example) 1.00000001 BTC

If people want them badly enough, an alternative will address them. I really doubt there is really enough incentive for this current development team to add these things.

Though normally your posts are pretty good, but this time you missed :)

Luke never mentioned having the current dev team do it - it's my understanding that he has a client that handles this well, and is interested in knowing how much people care.

Haha, I guess I should read more before I dip. Thanks for correcting me instead of letting me sit in awkward silence.

say i got a balance of 0btc.
i receive 1.009btc from mining on a pool.
now i wanna buy a coffee for my first 1btc, but i can't without losing .009btc.

my vote:
as long as it's possible to lose sub-cents, one shouldn't be able to send them.

Configure your pool account not to send anything but multiples of 0.01. Or do you mean you just want your client to warn you before wasting .009 BTC?

IF sub-cent-transactions are implemented, this is a must.
the average newbie won't even notice that he's losing sub-cents, when he can only see 2digits in his GUI.

also a bad idea to tell people, they first have to configure stuff right to not lose any coins.

why not stick with amounts that you are able to send without a loss?

Sub-cents are already possible, including invisible loss of it. Just because *you* aren't able to spend it without a loss (due to a bug in your client) doesn't mean *nobody* can...

Just because *you* are able to spend it without a loss doesn't mean *anybody* can (due to using the default client)

It's important that the client handles, sends, and moves (between accounts) amounts at any arbitrary precision.
It doesn't harm regular users in any way, and allows for very precise account balances.

One method to allow for much greater precision in sub 1.0 btc transactions without losing the fraction is to do it on an accounting system. Like mybitcoin.com, you can send very tiny amounts between accounts if they are both mybitcoin.com accounts then there will be no loss.

So you can expect a number of mybitcoin type systems where users can perform micro transactions between each other, and these systems can tie into each other so that a user on mybitcoin.org can send tiny btc amounts to someone on another system like mybitcoin-competition.com as long as both systems reconsile the account transactions.

The method to achieve that is :
1. throw away the code that rounds everything at two decimal places
2. prevent the main client from *relaying* spam transactions
Problem solved.

It was the case on bitcoin central until I noticed that the account functionality of the standard client was broken, when trying to move amounts between accounts, I noticed that the client was happily throwing away the subcent bits, which led to wrong balances.