Re: [Bitcoin-development] moving the default display to mbtc

[Tamas Blummer <tamas@bitsofproof.com>]

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you miss the point Andreas. It is not about the magnitude but about
the form of a price.

A number with no decimals or with two decimals is percieved as a
price in some currency. 

A number with more than two decimals is just not percieved as a price
but as a geeky something that you rather convert to local currency.

Tamas Blummer
Bits of Proof

On 14.03.2014, at 15:49, Andreas Schildbach <andreas@schildbach.de> wrote:

> How much do you pay for an Espresso in your local currency?
> 
> At least for the Euro and the Dollar, mBTC 3.56 is very close to what
> people would expect. Certainly more familiar than µBTC 3558 or BTC
> 0.003578.
> 
> Anyway, I was just sharing real-world experience: nobody is confused.
> 
> 
> On 03/14/2014 03:14 PM, Tamas Blummer wrote:
>> You give them a hard to interpret thing like mBTC and then wonder
>> why they rather look at local currency. Because the choices you
>> gave them are bad.
>> 
>> I think Bitcoin would have a better chance to be percieved as a
>> currency of its own if it had prices and fractions like currencies
>> do.
>> 
>> 3.558 mBTC or 0.003578 BTC will never be as accepted as 3558 bits
>> would be.
>> 
>> 
>> Tamas Blummer Bits of Proof
>> 
>> On 14.03.2014, at 15:05, Andreas Schildbach <andreas@schildbach.de>
>> wrote:
>> 
>>> btw. None of Bitcoin Wallet's users complained about confusion
>>> because of the mBTC switch. In contrast, I get many mails and
>>> questions if exchange rates happen to differ by >10%.
>>> 
>>> I suspect nobody looks at the Bitcoin price. It's the amount in
>>> local currency that matters to the users.
>>> 
>>> 
>>> On 03/13/2014 02:40 PM, Andreas Schildbach wrote:
>>>> Indeed. And users were crying for mBTC. Nobody was asking for
>>>> µBTC.
>>>> 
>>>> I must admit I was not aware if this thread. I just watched
>>>> other wallets and at some point decided its time to switch to
>>>> mBTC.
>>>> 
>>>> 
>>>> On 03/13/2014 02:31 PM, Mike Hearn wrote:
>>>>> The standard has become mBTC and that's what was adopted.
>>>>> It's too late to try and sway this on a mailing list thread
>>>>> now.
>>>>> 
>>>>> 
>>>>> On Thu, Mar 13, 2014 at 2:29 PM, Gary Rowe
>>>>> <g.rowe@froot.co.uk <mailto:g.rowe@froot.co.uk>> wrote:
>>>>> 
>>>>> The MultiBit HD view is that this is a locale-sensitive
>>>>> presentation issue. As a result we offer a simple
>>>>> configuration panel giving pretty much every possible
>>>>> combination: icon, m+icon,  μ+icon, BTC, mBTC,  μBTC, XBT,
>>>>> mXBT,  μXBT, sat along with settings for leading/trailing
>>>>> symbol, commas, spaces and points. This allows anyone to
>>>>> customise to meet their own needs beyond the offered default.
>>>>> 
>>>>> 
>>>>> We apply the NIST guidelines for representation of SI unit
>>>>> symbols (i.e no conversion to native language, no RTL giving
>>>>> icon+m etc).
>>>>> 
>>>>> Right now MultiBit HD is configured to use m+icon taken from
>>>>> the Font Awesome icon set. However reading earlier posts it
>>>>> seems that μ+icon is more sensible.
>>>>> 
>>>>> Let us know what you'd like.
>>>>> 
>>>>> Links: m+icon screenshot: http://imgur.com/a/WCDoG Font
>>>>> Awesome icon:
>>>>> http://fortawesome.github.io/Font-Awesome/icon/btc/ NIST SI
>>>>> guidelines: http://physics.nist.gov/Pubs/SP811/sec07.html
>>>>> 
>>>>> 
>>>>> On 13 March 2014 12:56, Jeff Garzik <jgarzik@bitpay.com 
>>>>> <mailto:jgarzik@bitpay.com>> wrote:
>>>>> 
>>>>> Resurrecting this topic.  Bitcoin Wallet moved to mBTC
>>>>> several weeks ago, which was disappointing -- it sounded like
>>>>> the consensus was uBTC, and moving to uBTC later --which will
>>>>> happen-- may result in additional user confusion, thanks to
>>>>> yet another decimal place transition.
>>>>> 
>>>>> 
>>>>> 
>>>>> On Sun, Nov 17, 2013 at 9:28 PM, Wendell <w@grabhive.com 
>>>>> <mailto:w@grabhive.com>> wrote:
>>>>>> We're with uBTC too. Been waiting for the signal to do
>>>>>> this,
>>>>> let's do it right after the fee system is improved.
>>>>>> 
>>>>>> -wendell
>>>>>> 
>>>>>> grabhive.com <http://grabhive.com> |
>>>>>> twitter.com/hivewallet
>>>>> <http://twitter.com/hivewallet> | gpg: 6C0C9411
>>>>>> 
>>>>>> On Nov 15, 2013, at 6:03 AM, Jeff Garzik wrote:
>>>>>> 
>>>>>>> Go straight to uBTC. Humans and existing computer
>>>>>>> systems
>>>>> handle numbers to
>>>>>>> the left of the decimals just fine (HK Dollars, Yen).
>>>>>>> The
>>>>> opposite is
>>>>>>> untrue (QuickBooks really does not like 3+ decimal
>>>>>>> places).
>>>>>> 
>>>>> 
>>>>> 
>>>>> 
>>>>> -- Jeff Garzik Bitcoin core developer and open source
>>>>> evangelist BitPay, Inc.      https://bitpay.com/
>>>>> 
>>>>> ------------------------------------------------------------------------------
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> Learn Graph Databases - Download FREE O'Reilly Book
>> "Graph Databases" is the definitive new guide to graph databases
>> and their applications. Written by three acclaimed leaders in the
>> field, this first edition is now available. Download your free book
>> today! http://p.sf.net/sfu/13534_NeoTech
>> 
>> 
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