|
dayfall
|
 |
June 10, 2011, 07:55:32 PM
Last edit: June 10, 2011, 08:54:42 PM by dayfall |
|
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.
|
|
|
|
|
frycicle
Member
 Offline
Activity: 71
Merit: 10
|
|
June 10, 2011, 08:32:35 PM |
|
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
Activity: 2576
Merit: 1186
|
|
June 10, 2011, 08:44:25 PM |
|
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.
|
|
June 13, 2011, 07:26:17 PM |
|
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
Activity: 1358
Merit: 1003
Ron Gross
|
|
June 13, 2011, 07:40:16 PM |
|
Bumping this to give people a chance to vote before it closes.
My favorite option isn't there ... UBC. |
|
|
|
|
ploum
|
|
June 13, 2011, 07:46:18 PM |
|
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.
|
|
|
|
|
bcearl
|
|
June 13, 2011, 08:56:09 PM |
|
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
|
|
June 13, 2011, 09:08:58 PM |
|
How would the shift affect scripts which use json calls to send coins? All current scrips would break, woudn't they?
|
|
|
|
|
|
bcearl
|
|
June 13, 2011, 09:15:57 PM |
|
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 (OP)
Legendary
Offline
Activity: 1708
Merit: 1010
|
|
June 13, 2011, 09:33:06 PM |
|
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
|
|
June 14, 2011, 09:36:48 AM |
|
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. |
|
|
|
|
Dansker
|
|
June 14, 2011, 09:46:19 AM |
|
Definetely agree with moving the decimal point all the way in the GUI.
Better sooner than later.
|
|
|
|
ripper234
Legendary
Offline
Activity: 1358
Merit: 1003
Ron Gross
|
|
June 14, 2011, 09:48:43 AM |
|
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? |
|
|
|
Thanak
Newbie
Offline
Activity: 36
Merit: 0
|
|
June 14, 2011, 04:19:09 PM |
|
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 |
|
|
|
|
|
Nesetalis
|
|
June 14, 2011, 05:33:22 PM |
|
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.
|
|
June 14, 2011, 05:33:52 PM |
|
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. 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
|
|
June 14, 2011, 07:21:12 PM |
|
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
Legendary
Offline
Activity: 1176
Merit: 1280
May Bitcoin be touched by his Noodly Appendage
|
|
June 14, 2011, 07:27:40 PM |
|
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
|
|
June 25, 2011, 08:22:03 PM |
|
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  |
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
Newbie
Offline
Activity: 56
Merit: 0
|
|
June 25, 2011, 08:51:15 PM |
|
I really liked the solution proposed in: Solution: How to shift the decimal http://forum.bitcoin.org/index.php?topic=13495.0Maybe 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 ;-) ). |
|
|
|
|
|
Poll
