📅 Original date posted:2014-05-02
📝 Original message:On 14 November 2013 12:45, Melvin Carvalho <melvincarvalho at gmail.com> wrote:
> Rationale
> =======
>
> Given the recent rise in value there seems to be anecdotal evidence that 1
> bitcoin being so high is putting off a lot of normal buyers, because they
> feel that putting down $400+ and only getting "1 coin", or having to buy in
> multiples of 1 whole coin, is too much.. only after it being explained that
> they can buy fractional amounts to they regain interest, apparently
> happening increasingly.
>
>
> Straw Poll
> ========
>
> 6 months ago there was a straw poll on this
>
> https://bitcointalk.org/index.php?topic=220322.0
>
> Roughly 2/3 of respondents favoured switching
>
> A further 20% said to switch after it hits 1000
>
> Satoshi's comments:
> ================
>
> Eventually at most only 21 million coins for 6.8 billion people in the
> world if it really gets huge.
>
> But don't worry, there are another 6 decimal places that aren't shown, for
> a total of 8 decimal places internally. It shows 1.00 but internally it's
> 1.00000000. If there's massive deflation in the future, the software could
> show more decimal places.
>
> If it gets tiresome working with small numbers, we could change where the
> display shows the decimal point. Same amount of money, just different
> convention for where the ","'s and "."'s go. e.g. moving the decimal place
> 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.
>
> https://bitcointalk.org/index.php?topic=44.msg267#msg267
>
>
> Would now be a good time to start thinking about changing the default
> display in the software. Perhaps initially it could be a dropdown display
> option, then at some point mbtc becomes the default?
>
>
Just a FYI on this topic. In Gavin's recent interview he described the
block reward as 25,000 millibits (about 25 minutes in).
https://www.youtube.com/watch?v=4pBd-OD9Rns
Decide for yourself whether or not that's meaningful :)
PS very enjoyable and accessible panel ...
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Melvin Carvalho [ARCHIVE] /
npub1uv…saxrt
2023-06-07 15:20:45
in reply to nevent1q…xjdt
Author Public Key
npub1uvtfvcegcn9kds68r8he57emc480vqtx8t22kpsctxgjxae44gvsksaxrtSeen on
wss://relay.nostr.bandPublished at
2023-06-07 15:20:45Event JSON
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"content": "📅 Original date posted:2014-05-02\n📝 Original message:On 14 November 2013 12:45, Melvin Carvalho \u003cmelvincarvalho at gmail.com\u003e wrote:\n\n\u003e Rationale\n\u003e =======\n\u003e\n\u003e Given the recent rise in value there seems to be anecdotal evidence that 1\n\u003e bitcoin being so high is putting off a lot of normal buyers, because they\n\u003e feel that putting down $400+ and only getting \"1 coin\", or having to buy in\n\u003e multiples of 1 whole coin, is too much.. only after it being explained that\n\u003e they can buy fractional amounts to they regain interest, apparently\n\u003e happening increasingly.\n\u003e\n\u003e\n\u003e Straw Poll\n\u003e ========\n\u003e\n\u003e 6 months ago there was a straw poll on this\n\u003e\n\u003e https://bitcointalk.org/index.php?topic=220322.0\n\u003e\n\u003e Roughly 2/3 of respondents favoured switching\n\u003e\n\u003e A further 20% said to switch after it hits 1000\n\u003e\n\u003e Satoshi's comments:\n\u003e ================\n\u003e\n\u003e Eventually at most only 21 million coins for 6.8 billion people in the\n\u003e world if it really gets huge.\n\u003e\n\u003e But don't worry, there are another 6 decimal places that aren't shown, for\n\u003e a total of 8 decimal places internally. It shows 1.00 but internally it's\n\u003e 1.00000000. If there's massive deflation in the future, the software could\n\u003e show more decimal places.\n\u003e\n\u003e If it gets tiresome working with small numbers, we could change where the\n\u003e display shows the decimal point. Same amount of money, just different\n\u003e convention for where the \",\"'s and \".\"'s go. e.g. moving the decimal place\n\u003e 3 places would mean if you had 1.00000 before, now it shows it as 1,000.00.\n\u003e\n\u003e https://bitcointalk.org/index.php?topic=44.msg267#msg267\n\u003e\n\u003e\n\u003e Would now be a good time to start thinking about changing the default\n\u003e display in the software. Perhaps initially it could be a dropdown display\n\u003e option, then at some point mbtc becomes the default?\n\u003e\n\u003e\nJust a FYI on this topic. In Gavin's recent interview he described the\nblock reward as 25,000 millibits (about 25 minutes in).\n\nhttps://www.youtube.com/watch?v=4pBd-OD9Rns\n\nDecide for yourself whether or not that's meaningful :)\n\nPS very enjoyable and accessible panel ...\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20140502/aa705858/attachment.html\u003e",
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