Received-SPF: pass (sog-mx-2.v43.ch3.sourceforge.com: domain of gmail.com
	designates 209.85.215.53 as permitted sender)
	client-ip=209.85.215.53; envelope-from=melvincarvalho@gmail.com;
	helo=mail-la0-f53.google.com; 
MIME-Version: 1.0
In-Reply-To: <CAKaEYhK4oXH3hB7uS3=AEkA6r0VB5OYyTua+LOP18rq+rYajHg@mail.gmail.com>
References: <CAKaEYhK4oXH3hB7uS3=AEkA6r0VB5OYyTua+LOP18rq+rYajHg@mail.gmail.com>
Date: Fri, 2 May 2014 16:29:35 +0200
Message-ID: <CAKaEYhLcDnKR3Sk0--sci-yBPfe3guYzo_G3mOYYA_QYXsKSTQ@mail.gmail.com>
From: Melvin Carvalho <melvincarvalho@gmail.com>
To: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Content-Type: multipart/alternative; boundary=089e0115e87066578c04f86b9c3f
Subject: Re: [Bitcoin-development] moving the default display to mbtc
Precedence: list

--089e0115e87066578c04f86b9c3f
Content-Type: text/plain; charset=UTF-8

On 14 November 2013 12:45, 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?
>
>
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 ...

--089e0115e87066578c04f86b9c3f
Content-Type: text/html; charset=UTF-8
Content-Transfer-Encoding: quoted-printable

<div dir=3D"ltr"><br><div class=3D"gmail_extra"><br><br><div class=3D"gmail=
_quote">On 14 November 2013 12:45, Melvin Carvalho <span dir=3D"ltr">&lt;<a=
 href=3D"mailto:melvincarvalho@gmail.com" target=3D"_blank">melvincarvalho@=
gmail.com</a>&gt;</span> wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8ex;border-=
left:1px solid rgb(204,204,204);padding-left:1ex"><div dir=3D"ltr"><div><di=
v><div><div>Rationale<br>=3D=3D=3D=3D=3D=3D=3D<br></div><div><br>Given the =
recent rise in value there seems to be anecdotal evidence that 1 bitcoin be=
ing so high is putting off a lot of normal buyers, because they feel that p=
utting down $400+ and only getting &quot;1 coin&quot;, 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 happen=
ing increasingly.<br>

<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>
</blockquote></div><br></div><div class=3D"gmail_extra">Just a FYI on this =
topic.=C2=A0 In Gavin&#39;s recent interview he described the block reward =
as 25,000 millibits (about 25 minutes in).=C2=A0 <br><br><a href=3D"https:/=
/www.youtube.com/watch?v=3D4pBd-OD9Rns">https://www.youtube.com/watch?v=3D4=
pBd-OD9Rns</a><br>
<br>Decide for yourself whether or not that&#39;s meaningful :)<br><br></di=
v><div class=3D"gmail_extra">PS very enjoyable and accessible panel ...<br>=
</div></div>

--089e0115e87066578c04f86b9c3f--