Bitcoin Forum
December 11, 2016, 01:58:28 PM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Poll
Question: Should the standard display of value in the bitcoin client be shifted 6 decimal places to the right?  (one bitcoin now would become 1,000,000 bitcoin in the client after changeover)  (Voting closed: June 14, 2011, 08:14:12 PM)
Yes!  I wanna be a Bitcoin Millionare! - 109 (67.7%)
No!  I prefer counting zeros! - 39 (24.2%)
Wait, what? - 13 (8.1%)
Total Voters: 158

Pages: « 1 2 3 4 [5] 6 7 8 9 »  All
  Print  
Author Topic: Shift the decimal point over?  (Read 14960 times)
dayfall
Sr. Member
****
Offline Offline

Activity: 312



View Profile
June 10, 2011, 07:55:32 PM
 #81

Could you sell 100Millis for $3 faster than you could sell 0.1Bitcoin for $3?

Perhaps the Bitcoin decimal problem could be alleviated by point out how MUCH a single Bitcoin can buy.  Most people don't take gold seriously because they don't realize how much it costs.  North Americans laugh at foreign currencies that have lots of zeroes for their smallest bill.

A bitcoin is BIG money.  To me, that makes it look serious.
The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1481464708
Hero Member
*
Offline Offline

Posts: 1481464708

View Profile Personal Message (Offline)

Ignore
1481464708
Reply with quote  #2

1481464708
Report to moderator
1481464708
Hero Member
*
Offline Offline

Posts: 1481464708

View Profile Personal Message (Offline)

Ignore
1481464708
Reply with quote  #2

1481464708
Report to moderator
1481464708
Hero Member
*
Offline Offline

Posts: 1481464708

View Profile Personal Message (Offline)

Ignore
1481464708
Reply with quote  #2

1481464708
Report to moderator
frycicle
Member
**
Offline Offline

Activity: 71



View Profile
June 10, 2011, 08:32:35 PM
 #82

Why can't they just put in a setting where you can show it however you want?

Buy Newegg Products with Bitcoin with 0% transaction fee! bitcoinredemption.com
Luke-Jr
Legendary
*
Offline Offline

Activity: 2100



View Profile
June 10, 2011, 08:44:25 PM
 #83

Why can't they just put in a setting where you can show it however you want?
They don't want people to use Bitcoins any way other than the one they approve of. Spesmilo supports displaying things in various ways.

D.H.
Sr. Member
****
Offline Offline

Activity: 311


Bitcoin.se site owner


View Profile WWW
June 13, 2011, 07:26:17 PM
 #84

Bumping this to give people a chance to vote before it closes.

www.bitcoin.se - Forum, nyheter och information på svenska! (Forum, news and information in Swedish)
ripper234
Legendary
*
Offline Offline

Activity: 1260


Ron Gross


View Profile WWW
June 13, 2011, 07:40:16 PM
 #85

Bumping this to give people a chance to vote before it closes.

My favorite option isn't there ... UBC.

Please do not pm me, use ron@bitcoin.org.il instead
Mastercoin Executive Director
Co-founder of the Israeli Bitcoin Association
ploum
Sr. Member
****
Offline Offline

Activity: 378



View Profile WWW
June 13, 2011, 07:46:18 PM
 #86

I explained the concept of bitcoin to my mother and she read a bit by herself on the net. She said, after that, that she would never buy a bitcoin more than 1€. 20€ is definitely too much.

I think that this kind of reaction or misperception are really common and that's why we should move the decimal place.

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
bcearl
Full Member
***
Offline Offline

Activity: 168



View Profile
June 13, 2011, 08:56:09 PM
 #87

I think a shift of one would be great, then we would have that

1 BTC = $2.x
and
1 BTC = €1.x

which would fit nicely.

Misspelling protects against dictionary attacks NOT
randomguy7
Hero Member
*****
Offline Offline

Activity: 528


View Profile
June 13, 2011, 09:08:58 PM
 #88

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?
bcearl
Full Member
***
Offline Offline

Activity: 168



View Profile
June 13, 2011, 09:15:57 PM
 #89

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?

I would just change the output in the bitcoin client. The data or machine readable outputs should not be changed at all.

Misspelling protects against dictionary attacks NOT
MoonShadow
Legendary
*
Offline Offline

Activity: 1666



View Profile
June 13, 2011, 09:33:06 PM
 #90

How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?

Shouldn't.  The bitcoin client doesn't store the decimal at all.  50 BTC is stored as a 64 bit integer representing a value of 5,000,000,000.  The client only adds the decimal for human readability.  Any calls to the system should be using the protocol's representation of the value, not the GUI's.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
ploum
Sr. Member
****
Offline Offline

Activity: 378



View Profile WWW
June 14, 2011, 09:36:48 AM
 #91

I explained the concept of bitcoin to my mother and she read a bit by herself on the net. She said, after that, that she would never buy a bitcoin more than 1€. 20€ is definitely too much.

I think that this kind of reaction or misperception are really common and that's why we should move the decimal place.

So, she would not pay 20€ for one Bitcoin, but she would pay 1€ for 50 millibits?

Probably, yes.

Blog posts about Bitcoin - 1KdRBbhjo72CqKTrFsQed6s9NMrvwvrUkq
Dansker
Hero Member
*****
Offline Offline

Activity: 740


Hello world!


View Profile
June 14, 2011, 09:46:19 AM
 #92

Definetely agree with moving the decimal point all the way in the GUI.

Better sooner than later.

ripper234
Legendary
*
Offline Offline

Activity: 1260


Ron Gross


View Profile WWW
June 14, 2011, 09:48:43 AM
 #93

Definetely agree with moving the decimal point all the way in the GUI.

Better sooner than later.

Is there an open feature request on Github?
Any specific client version this will go into?
Yes, it's a simple, psychological thing ... but it's important for Bitcoin's growth.

What are the devs position on this?

Please do not pm me, use ron@bitcoin.org.il instead
Mastercoin Executive Director
Co-founder of the Israeli Bitcoin Association
Thanak
Jr. Member
*
Offline Offline

Activity: 36


View Profile
June 14, 2011, 04:19:09 PM
 #94

Switching the decimal in GUI might be desirable but I think that using bitcoin to mean microbitcoin is a bad idea.

On of the biggest appeal of bitcoin is the fact that there will never be more. You have a lot of legacy article and video that explain that there will never be more bitcoin in circulation. People have read that bitcoin will be limited to 21 millions. They expect the value of a bitcoin to go up constantly.

The last thing you want, for a currency that is designed to be inflation proof, is to create the illusion of deflation... even if it would only be an illusion.

Starting to use microbitcoin might be ok, but don't rebrand them as the new bitcoin.


These guys understood that stock splitting only make it more complex to identify real value
 http://finance.yahoo.com/q/bc?s=BRK-A+Basic+Chart&t=my   



If can teach Go/Weichi/Baduk for BTC - I'm 1 kyu on KGS - 0.2 BTC for one hour lesson, 0.1 BTC for a game review - mail at Baduk4Bitcoin@gmail.com
Nesetalis
Sr. Member
****
Offline Offline

Activity: 420



View Profile
June 14, 2011, 05:33:22 PM
 #95

this brings forth thoughts of hitch hikers guide to the galaxy:
"The exchange rate of 8 Ningys to one Galactic PU is simple enough. However, since a Ningy is a triangular rubber-coin ,6800 miles along each side, no one has ever collected enough to own one PU. Besides which, if you did ever own enough, you would have a great deal of trouble exchanging them, as most banks refuse to deal in small change."

ZOMG Moo!
D.H.
Sr. Member
****
Offline Offline

Activity: 311


Bitcoin.se site owner


View Profile WWW
June 14, 2011, 05:33:52 PM
 #96

You have a lot of legacy article and video that explain that there will never be more bitcoin in circulation.

Remember, we are still very early in the life of Bitcoin, few people have actually heard about Bitcoin. We can't let "legacy article and video" stop us from making a change at this point if the change is for the better in the long run. It is possible to make this change now because there is not a lot of different clients, e-wallets etc. out there.

Quote
People have read that bitcoin will be limited to 21 millions.

The important thing to explain is that the number of Bitcoins is limited. It would be confusing anyway to state that the supply is limited to 21 million BTC if the unit that people are used to is mBTC or μBTC.

www.bitcoin.se - Forum, nyheter och information på svenska! (Forum, news and information in Swedish)
flug
Sr. Member
****
Offline Offline

Activity: 280



View Profile
June 14, 2011, 07:21:12 PM
 #97

My vote is to NOT change BTC, but get used to talking in micro-BTC (UBT,UBC,uDTC,whatever the concensus), but that's not clearly available in the vote!

I think it'd be suicide to revalue the BTC now, and it'll cause problems with people who don't upgrade old clients. Now that Bitcoin has been featured in Forbes and The Economist and people are trading at $20, this isn't very early days anymore.
jackjack
Hero Member
*****
Offline Offline

Activity: 882


May Bitcoin be touched by his Noodly Appendage


View Profile
June 14, 2011, 07:27:40 PM
 #98

I think it'd be suicide to revalue the BTC now, and it'll cause problems with people who don't upgrade old clients. Now that Bitcoin has been featured in Forbes and The Economist and people are trading at $20, this isn't very early days anymore.
This!

People use millilitters and milligrams, what's the problem using millibitcoins? Rename it if you want but we can't change BTC value

Own address: 19QkqAza7BHFTuoz9N8UQkryP4E9jHo4N3 - Pywallet support: 1AQDfx22pKGgXnUZFL1e4UKos3QqvRzNh5 - Bitcointalk++ script support: 1Pxeccscj1ygseTdSV1qUqQCanp2B2NMM2
Pywallet: instructions. Encrypted wallet support, export/import keys/addresses, backup wallets, export/import CSV data from/into wallet, merge wallets, delete/import addresses and transactions, recover altcoins sent to bitcoin addresses, sign/verify messages and files with Bitcoin addresses, recover deleted wallets, etc.
forbun
Member
**
Offline Offline

Activity: 107


View Profile WWW
June 25, 2011, 08:22:03 PM
 #99

My vote is to NOT change BTC, but get used to talking in micro-BTC (UBT,UBC,uDTC,whatever the concensus), but that's not clearly available in the vote!

"micro" sounds too tiny when spoken aloud. I suggest a new name altogether. And it needs to be 2 syllables.

UBC is ok. But when spoken aloud, it should sound like "you-coins" (not "micro-bit-coins").

mBC is ok. But when spoken aloud, it should sound like "em-coins" (not "micro-bit-coins").

I wonder if mBC might be confused with "million". The m comes from micro, but obviously the real abbreviation for micro looks more like u.

So, let's go with UBC, pronounced "you-coins".

I'll send an "you-cent" to anyone who agrees with me Wink

What name would you give to the smallest unit of bitcoin (0.00000001)? sat. What name would you give to 100 sats? bit. 1 bit = 1 uBTC. 1,000,000 bits = 1 BTC. It's bits
jashan
Jr. Member
*
Offline Offline

Activity: 56


View Profile WWW
June 25, 2011, 08:51:15 PM
 #100

I really liked the solution proposed in:

Solution: How to shift the decimal
http://forum.bitcoin.org/index.php?topic=13495.0

Maybe replace uBTC with UBC for now ... eventually (when no one really uses BTC anymore because it's too annoying), we can switch over and make UBC the new BTC and the transition will be complete without anyone being confused. It just takes a little time and patience but it will fix the worst problem Bitcoin currently has (well, except for that it doesn't properly support subscriptions ;-) ).

If you like this posting - feel free to give a tip:
1HrTEoRXbNG3GeCodpUZazTWCsjytijmkH

Keep those Bitcoins flowing :-)

Want to buy or sell Bitcoins? Sign up with TradeHill Exchange and get a 10% discount on your commission rates for life!
http://www.tradehill.com/?r=TH-R1180
Pages: « 1 2 3 4 [5] 6 7 8 9 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!