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April 04, 2013, 11:08:33 AM |
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hello,
is it possible to change the denominations so they have a better feel?
atm we have 1 bitcoin, and then we work the way down, getting odd numbers with decimal places which just feels wrong and looks awkard.
1 BTC = BitCoin = 100,000,000 Satoshis 0.01 BTC = 1 cB or 1 cBTC (bitcent) 0.001 BTC = 1 mB or 1 mBTC (bitmill) 0.000001 BTC = 1 μB or 1 μBTC (mike) 0.00000001 BTC = Satoshi
Its something i copy pasted from another thread, but thats how the standard more or less is today, but is it possible to agree on some changes so it becomes
1 BTC = 100,000,000 Bitcoin 1 Bitcoin = The smallest atomic amount
Then we actually work our way UP from there. For example atm. i have 11 bitcoin. Thats in reality 1.100.000.000 Satoshis. Id prefer if the smallest amount was called Bitcoin instead of satoshis. Then we can call the currect Bitcoin or BTC a satoshi. It will ultimately become very valuable if bitcoin becomes successful, and thus its a greater honor. It wont be used as much. 1 BTC would probably eventually have the equivalent value of a goldbar, so i think it makes sense to call the current BTC Satoshi. If we called the smallest atomic amount possible then or rather the minimum amount you could send BITCOIN, then the system becomes more transparent and pricing easier. We could then let the market decide on proper denominations. For example 1 Kilobitcoin(kBc), would be 1000 of the smallest atomic amount. One Megabitcoin (mBc) would be 1 million of the smallest atomic amount. in fact in this system what we call a BTC today would be 100 kBc. I personally feel these kinds of denominations makes having bitcoin and mining it much more rewarding, because having 0,03435 bitcoin feels awkward, and mining 0,004343 bitcoin also feels awkward so on so forth. of course changing the denominations or names wont impact the actual value underlying but the currency itself would just have a better feel imo, which ultimately adds to its strength.
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