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Author Topic: How to split bitcoins price?  (Read 1306 times)
Mickeyb
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October 03, 2015, 12:24:57 PM
 #21

Like in the stock market? Psychologically people are more likely to buy if the price is lesser (ex. a 3 to 1 split turns btc from $230 to $80), and there would be no affect in the current value.

Would we really need to do this? This is like fooling up the masses. It's not surprising that stock markets are doing this, they are experts in fooling the masses. I don't talk about the divisibility of Bitcoin of course, this is OK as long as we give it another name as above is already suggested.
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October 03, 2015, 01:02:39 PM
 #22

Like in the stock market? Psychologically people are more likely to buy if the price is lesser (ex. a 3 to 1 split turns btc from $230 to $80), and there would be no affect in the current value.

Would we really need to do this? This is like fooling up the masses. It's not surprising that stock markets are doing this, they are experts in fooling the masses. I don't talk about the divisibility of Bitcoin of course, this is OK as long as we give it another name as above is already suggested.

No. Nothing wrong in doing that.
Already we have wallet service which shows bitcoins in bits.
Dogecoin is successful just because of it's number not value.

So, its time to have exchanges list bitcoins in bits price. If we start from current price converted to bits, we may end up in 1$ per one bit in short period of time. That's the beauty, OP says.

No cheating involved in this.
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October 03, 2015, 04:45:57 PM
 #23

people need to stop thinking like "stocks" and more like assets/commodity.
using gold exchange market is the closest comparison..

so the OP wants to stop measuring gold in Tonnes and instead measure it in ounces. and then later on measure it in grams...

well this will happen in time for bitcoin. but not until bitcoin is over $1000 again, which would be probably nearer the next reward halving.. then 'bits' would be worth over $1 and able to be measured to the decimal place of 1sat being more then 1cent

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October 03, 2015, 05:37:10 PM
 #24

That's why they came up with mBTC, uBTC, and satoshi. The whole point is to have a limited amount of BTC in the end, namely 21 million. Randomly split them would confuse many new users, so not very desirable.
Agree, unnecessary confusion to bitcoin users. Bitcoin is not stock market, its so much more than that.

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October 04, 2015, 12:20:07 AM
 #25

The equivalent of a stock split, is doubling the total number of bitcoins from 21 million to 42 million.
That is not going to happen.  Roll Eyes


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Mickeyb
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October 04, 2015, 12:53:56 PM
 #26

Like in the stock market? Psychologically people are more likely to buy if the price is lesser (ex. a 3 to 1 split turns btc from $230 to $80), and there would be no affect in the current value.

Would we really need to do this? This is like fooling up the masses. It's not surprising that stock markets are doing this, they are experts in fooling the masses. I don't talk about the divisibility of Bitcoin of course, this is OK as long as we give it another name as above is already suggested.

No. Nothing wrong in doing that.
Already we have wallet service which shows bitcoins in bits.
Dogecoin is successful just because of it's number not value.

So, its time to have exchanges list bitcoins in bits price. If we start from current price converted to bits, we may end up in 1$ per one bit in short period of time. That's the beauty, OP says.

No cheating involved in this.

Yes I agree with this like I have written above. If we are talking about divisibility of one whole Bitcoin and then we give it a new name then I don't think this is cheating either and there is nothing wrong with it.

Maybe this will be necessary to do when we realize that 21 million coins is just too little for all of the people that adopted Bitcoin. Of course, it would be the best to do it before real mass adoption starts.
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