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From: Allen Piscitello <allen.piscitello@gmail.com>
To: Alan Reiner <etotheipi@gmail.com>
Cc: Bitcoin Development <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] moving the default display to mbtc
Date: Thu, 14 Nov 2013 16:07:58 -0600	[thread overview]
Message-ID: <CAJfRnm7-34jwX0m+0Trj9-YvXFeUYMGq35AoRkY7bq9w-XpabA@mail.gmail.com> (raw)
In-Reply-To: <528547FD.2070300@gmail.com>

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Obviously the answer is to just display all fees and trading rates as BTC
or MBTC (.0000005 MBTC fee? how cheap!).  On a more serious note, the
transition should definitely be thought out well as it could be very
damaging to have this confusion, but I would prefer to do it only once
rather than twice.


On Thu, Nov 14, 2013 at 4:00 PM, Alan Reiner <etotheipi@gmail.com> wrote:

>  Just keep in mind it will be a little awkward that 54.3 uBTC is the
> smallest unit that can be transferred [easily] and the standard fees are
> 500 uBTC.    It's not a deal breaker, it's just something that needs to be
> taken into consideration when it comes to user perception (which is one of
> the reasons we would make such a change in the first place).
>
> "Holy crap these fees are huge!  I thought Bitcoin didn't have fees!"
>
>
>
> On 11/14/2013 04:55 PM, Allen Piscitello wrote:
> > I also would prefer to go straight to uBTC as the "standard wallet
> unit".    It works out perfectly with Satoshi's being the decimal units.
> Something that costs $10USD would be 25000uBTC.  This isn't a problem for a
> place like South Korea, where 10USD is about 10,000 Won, so we aren't even
> off on a scale of usable currencies in major economies.
> >
> > The downsides are obviously confusion (causing mistakes resulting in
> lost coins), and possibly from a psychological perspective on price (uBTC
> are worthless!).  On the other hand, it also might help people feel like
> they are getting in on the ground floor still (I own 100,000 uBTC!), and
> reduce the perception the Bitcoins are not divisible (I have heard several
> people worry that 21 million is not enough units).
> >
> > Alan's ideas for compatibility with multiple fields will also be helpful
> to solving the confusion issue.
> >
> >
> >
> > On Thu, Nov 14, 2013 at 3:15 PM, Mark Friedenbach <mark@monetize.io
> <mailto:mark@monetize.io> <mark@monetize.io>> wrote:
> >
>
> For this reason I'm in favor of skipping mBTC and moving straight to
> uBTC. Having eight, or even five decimal places is not intuitive to
> the average user. Two decimal places is becoming standard for new
> national currencies, and we wouldn't be too far from human scale
> everyday numbers: 25.00uBTC ~= $0.01 currently. And I don't think very
> many people on this list would consider bitcoin overvalued in the long
> term perspective.
>
> Better to go through a confusing renumbering only once.
>
> Mark
>
> On 11/14/13 12:01 PM, Alan Reiner wrote:
> > ... I'm also of the opinion that it's freakin' hard to change the
> > base unit in such an established system.  There is no easy way to
> > do this that doesn't cause more heartache than it's worth...
>
> >
>
> >
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> >
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  reply	other threads:[~2013-11-14 22:08 UTC|newest]

Thread overview: 112+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2013-11-14 11:45 [Bitcoin-development] moving the default display to mbtc Melvin Carvalho
2013-11-14 18:18 ` Luke-Jr
2013-11-17  3:22   ` Jacob Lyles
2013-11-14 20:01 ` Alan Reiner
2013-11-14 21:15   ` Mark Friedenbach
2013-11-14 21:55     ` Allen Piscitello
2013-11-14 22:00       ` Alan Reiner
2013-11-14 22:07         ` Allen Piscitello [this message]
2013-11-14 23:01           ` Luke-Jr
2013-11-14 23:11             ` Mark Friedenbach
2013-11-14 23:13               ` Luke-Jr
2013-11-14 23:22               ` Jeff Garzik
2013-11-15  0:15               ` Luke-Jr
2013-11-15  0:18                 ` Mark Friedenbach
2013-11-16  0:41             ` Drak
2013-11-16  0:48               ` Mark Friedenbach
2013-11-16  1:10               ` Luke-Jr
2013-11-16  1:19                 ` Jean-Paul Kogelman
2013-11-16  1:19                 ` Drak
2013-11-16  1:31                   ` Mark Friedenbach
2013-11-15  8:55           ` Eugen Leitl
2013-11-14 22:21         ` Mark Friedenbach
2013-11-14 22:32         ` Drak
2013-11-14 22:37           ` Drak
2014-05-02 19:17       ` Jeff Garzik
2014-05-03  0:54         ` Ben Davenport
2014-05-03  1:13           ` Alan Reiner
2014-05-03  1:50             ` Aaron Voisine
2014-05-03  2:10             ` Matias Alejo Garcia
2014-05-03  2:38           ` Luke Dashjr
2014-05-03  2:41             ` Ben Davenport
2014-05-03  2:43             ` Peter Todd
2014-05-03  3:35             ` Un Ix
2014-05-03 12:32             ` Roy Badami
2014-05-03  4:23         ` Tamas Blummer
2013-11-14 22:03     ` Jeff Garzik
2013-11-14 22:31       ` Mark Friedenbach
2013-11-14 22:53         ` Alan Reiner
2013-11-14 23:01           ` Jeff Garzik
2013-11-14 23:10           ` Luke-Jr
2013-11-15  9:23           ` Eugen Leitl
2013-11-15  9:37             ` Alex Kravets
2013-11-15  9:59               ` Adam Back
2013-11-15 10:39               ` Eugen Leitl
2013-11-15  7:18       ` Wladimir
2013-11-18  2:28       ` Wendell
2014-03-13 12:56         ` Jeff Garzik
2014-03-13 13:29           ` Gary Rowe
2014-03-13 13:31             ` Mike Hearn
2014-03-13 13:40               ` Andreas Schildbach
2014-03-14 14:05                 ` Andreas Schildbach
2014-03-14 14:14                   ` Tamas Blummer
2014-03-14 14:49                     ` Andreas Schildbach
2014-03-14 14:57                       ` Tamas Blummer
2014-03-14 15:02                         ` Andreas Schildbach
2014-03-14 15:12                           ` Tamas Blummer
2014-03-14 15:30                             ` Andreas Schildbach
2014-03-14 15:32                           ` Mike Hearn
2014-03-14 15:56                             ` Andreas Schildbach
2014-03-14 16:01                       ` Mark Friedenbach
2014-03-14 16:15                         ` Alex Morcos
2014-03-14 16:51                           ` Ricardo Filipe
2014-03-14 16:58                             ` Allen Piscitello
2014-03-14 15:10                     ` Tyler
2014-03-14 14:18                   ` Roy Badami
2014-03-13 19:38               ` Jeff Garzik
2014-03-13 13:34           ` Wladimir
2014-03-13 13:45             ` Jeff Garzik
2014-03-13 13:53               ` Mike Hearn
2014-03-13 14:32                 ` Jeff Garzik
2014-03-13 15:50                   ` Mike Hearn
2014-03-13 16:17                     ` Troy Benjegerdes
2014-03-13 16:39                     ` Melvin Carvalho
2014-03-13 16:55                       ` Allen Piscitello
2014-03-13 17:13                         ` Mike Hearn
2014-03-13 17:23                           ` Allen Piscitello
2014-03-13 16:14                   ` Alan Reiner
2014-03-13 16:23                     ` Tamas Blummer
2014-03-13 16:29                     ` Jeff Garzik
2014-03-13 17:18                       ` Mark Friedenbach
2014-03-13 17:21                         ` Jeff Garzik
2014-03-13 17:24                         ` Mike Hearn
2014-03-13 17:36                           ` Alan Reiner
2014-03-13 17:43                             ` Wladimir
2014-03-13 17:51                             ` Mike Hearn
2014-03-13 17:58                               ` Alan Reiner
2014-03-13 19:26                       ` Drak
2014-03-13 16:08               ` Troy Benjegerdes
2014-03-13 16:30                 ` Tamas Blummer
2014-03-13 16:37                   ` slush
2014-03-13 17:48                     ` Luke-Jr
2014-03-13 18:23                 ` Jorge Timón
2014-03-13 18:29                   ` Mike Hearn
2014-03-13 18:51                     ` Ben Davenport
2014-03-14  0:34                     ` Jorge Timón
2014-03-14 17:14                       ` vv01f
2014-03-14 20:13                         ` Natanael
2014-03-14  1:26                 ` Un Ix
2014-03-14 21:56           ` Odinn Cyberguerrilla
2013-11-15 10:45   ` Wladimir
2013-11-15 10:57     ` Eugen Leitl
2013-11-14 22:27 ` Drak
2013-11-15  0:05   ` Jeff Garzik
2013-11-15  0:37     ` Daniel F
2013-11-15  0:46       ` Melvin Carvalho
2013-11-15  0:57       ` Alan Reiner
2014-05-02 14:29 ` Melvin Carvalho
2013-11-15  5:21 Tamas Blummer
     [not found] <mailman.271337.1390426426.2210.bitcoin-development@lists.sourceforge.net>
2014-03-13 15:17 ` Tamas Blummer
2014-03-13 15:37   ` Chris Pacia
2014-03-14 16:25 Andrew Smith
     [not found] <536537E2.1060200@stud.uni-saarland.de>
2014-05-03 18:46 ` Jannis Froese

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