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From: Drak <drak@zikula.org>
Date: Thu, 14 Nov 2013 22:27:53 +0000
Message-ID: <CANAnSg3zWdyGymJ2tE5RUQsCSqh4jw7pkb619tX0nVoi-9efgA@mail.gmail.com>
To: Melvin Carvalho <melvincarvalho@gmail.com>
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] moving the default display to mbtc
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Given the meteoric growth many are now saying we should just switch
straight to Satoshi (uBTC) because it looks like we will be seeing BTC
valued in the thousands pretty soon. Small decimal numbers are certainly
not very attractive to the masses. There's no point switching to mBTC only
to have to switch to uBTC later - especially when that later could be a lot
sooner.

Unless something is recommended/done by the bitcoin core developers I doubt
much will change at bitcoin user/consumer level.

Drak


On 14 November 2013 11:45, Melvin Carvalho <melvincarvalho@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?
>
>
>
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<div dir=3D"ltr">Given the meteoric growth many are now saying we should ju=
st switch straight to Satoshi (uBTC) because it looks like we will be seein=
g BTC valued in the thousands pretty soon. Small decimal numbers are certai=
nly not very attractive to the masses. There&#39;s no point switching to mB=
TC only to have to switch to uBTC later - especially when that later could =
be a lot sooner.<div>


<br></div><div>Unless something is recommended/done by the bitcoin core dev=
elopers I doubt much will change at bitcoin user/consumer level.<br><div>
<br></div><div>Drak<br></div><div class=3D"gmail_extra"><br><br><div class=
=3D"gmail_quote">On 14 November 2013 11:45, Melvin Carvalho <span dir=3D"lt=
r">&lt;<a href=3D"mailto:melvincarvalho@gmail.com" target=3D"_blank">melvin=
carvalho@gmail.com</a>&gt;</span> wrote:<br>


<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1p=
x #ccc solid;padding-left:1ex"><div dir=3D"ltr"><div><div><div><div>Rationa=
le<br>=3D=3D=3D=3D=3D=3D=3D<br></div><div><br>Given the recent rise in valu=
e there seems to be anecdotal evidence that 1 bitcoin being so high is putt=
ing off a lot of normal buyers, because they feel that putting down $400+ a=
nd only getting &quot;1 coin&quot;, or having to buy in multiples of 1 whol=
e coin, is too much.. only after it being explained that they can buy fract=
ional amounts to they regain interest, apparently happening increasingly.<b=
r>


<br><br></div><div>Straw Poll<br>=3D=3D=3D=3D=3D=3D=3D=3D<br></div><div><br=
></div>6 months ago there was a straw poll on this<br><br><a href=3D"https:=
//bitcointalk.org/index.php?topic=3D220322.0" target=3D"_blank">https://bit=
cointalk.org/index.php?topic=3D220322.0</a><br>


<br></div>Roughly 2/3 of respondents favoured switching<br><br></div>A furt=
her 20% said to switch after it hits 1000<br><br></div>Satoshi&#39;s commen=
ts:<br>=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D=3D<br><br>Eventually a=
t most only 21 million coins for 6.8 billion people in the world if it real=
ly gets huge.<br>


<br>But don&#39;t worry, there are another 6 decimal places that aren&#39;t=
 shown, for a total of 8 decimal places internally.=C2=A0 It shows 1.00 but=
 internally it&#39;s 1.00000000.=C2=A0 If there&#39;s massive deflation in =
the future, the software could show more decimal places.<br>


<br>If it gets tiresome working with small numbers, we could change where t=
he display shows the decimal point.=C2=A0 Same amount of money, just differ=
ent convention for where the &quot;,&quot;&#39;s and &quot;.&quot;&#39;s go=
.=C2=A0 e.g. moving the decimal place 3 places would mean if you had 1.0000=
0 before, now it shows it as 1,000.00.<br>


<br><a href=3D"https://bitcointalk.org/index.php?topic=3D44.msg267#msg267" =
target=3D"_blank">https://bitcointalk.org/index.php?topic=3D44.msg267#msg26=
7</a><br><div><br><br></div><div>Would now be a good time to start thinking=
 about changing the default display in the software.=C2=A0 Perhaps initiall=
y it could be a dropdown display option, then at some point mbtc becomes th=
e default?<br>


</div><div><br></div></div>
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DreamFactory - Open Source REST &amp; JSON Services for HTML5 &amp; Native =
Apps<br>
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Free app hosting. Or install the open source package on any LAMP server.<br=
>
Sign up and see examples for AngularJS, jQuery, Sencha Touch and Native!<br=
>
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