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authorTroy Benjegerdes <hozer@hozed.org>2014-03-13 11:17:53 -0500
committerbitcoindev <bitcoindev@gnusha.org>2014-03-13 16:18:08 +0000
commitfe0312bab6e124ed522b17616d46312d3b00fa95 (patch)
treec55dc7920c6ed195c5f82e06d561cb1624bf946f
parentd271bb7f5a01c03f0422d547ab039dd6fcd98c2d (diff)
downloadpi-bitcoindev-fe0312bab6e124ed522b17616d46312d3b00fa95.tar.gz
pi-bitcoindev-fe0312bab6e124ed522b17616d46312d3b00fa95.zip
Re: [Bitcoin-development] moving the default display to mbtc
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+Date: Thu, 13 Mar 2014 11:17:53 -0500
+From: Troy Benjegerdes <hozer@hozed.org>
+To: Mike Hearn <mike@plan99.net>
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+References: <52852C2D.9020103@gmail.com> <52853D8A.6010501@monetize.io>
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+Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>,
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+Subject: Re: [Bitcoin-development] moving the default display to mbtc
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+
+On Thu, Mar 13, 2014 at 04:50:14PM +0100, Mike Hearn wrote:
+> On Thu, Mar 13, 2014 at 3:32 PM, Jeff Garzik <jgarzik@bitpay.com> wrote:
+>
+> > Such hand-wavy, data-free logic is precisely why community
+> > coordination is preferred to random apps making random decisions in
+> > this manner.
+> >
+>
+> That ship sailed months ago. If you wanted a big push for uBTC, then would
+> have been the time. Though given that it'd have made lots of normal
+> balances incredibly huge, perhaps it's a good thing that didn't happen.
+> Also "milli" is a unit people encounter in daily life whereas micro isn't.
+> Is it milli / micro / nano or milli / nano / micro? I bet a lot of people
+> would get that wrong.
+
+I think the ship of hand-wavy, data-free logic sailed with
+'money supply == 21 million', so why not enjoy the ride? If we care about
+real people and real use cases, then let's talk about indexing the money
+supply to some blockchain-observable value and add demurrage instead of
+of bikeshedding the color of the latest coat of paint.
+
+>
+> If you have to export to financial packages that can't handle fractional
+> pennies, then by all means represent prices in whatever units you like for
+> that purpose, but in software designed for ordinary people in everyday life
+> mBTC is a pretty good fit.
+>
+> Besides, fractional pennies crop up in existing currencies too (the famous
+> Verizon Math episode showed this), so if a financial package insists on
+> rounding to 2dp then I guess it may sometimes do the wrong thing in some
+> business cases already.
+>
+> Fundamentally, more than two decimal places tends to violate the
+> > Principle Of Least Astonishment with many humans, and as a result,
+> > popular software systems have been written with that assumption.
+>
+>
+> Lots of people use currencies that don't have any fractional components at
+> all ! So perhaps all prices should be denominated in satoshis to ensure
+> that they're not surprised :)
+
+I'm surprised every time I pull up to a gas pump and the price is 3.249999
+per gallon. But I don't really care what the price is, as long as there's
+an e85 pump. If I could pay at the pump with bitcoin, I wouldn't even look
+at the price, I'd only care if my tank got filled up or if I have to drive
+slower to get better mileage.
+
+Hell, I'd have an app that would tell me what gas station to go to that got
+me the best miles per bitcoin based on where I actually wanted to go.
+
+