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

[Andreas Schildbach <andreas@schildbach.de>]

Indeed, rounding is the obvious easy fix. Bitcoin Wallet rounds all
amounts except if you type amounts with a higher precision.


On 03/14/2014 04:32 PM, Mike Hearn wrote:
> The issue here is that most people are producing prices in BTC by just
> multiplying through the spot rate with full precision. Obviously if you
> converted dollar prices to Euro prices with the same technique, you'd
> also end up with lots of numbers after the decimal point, but in the
> real world nobody actually does this. They always "prettify" the price.
> 
> This practice often annoys people because they feel like they get short
> changed. The most notorious example is Apple which likes (liked?) to
> charge 99 cents per iTunes song in the USA, and 99 pennies per song in
> the UK, despite that the British pound is worth a lot more than the
> dollar. It should be more like 60 pence.
> 
> Nothing stops BitPay rounding the mBTC price to look more natural, but
> right now it's not common practice.
> 
> 
> On Fri, Mar 14, 2014 at 4:02 PM, Andreas Schildbach
> <andreas@schildbach.de <mailto:andreas@schildbach.de>> wrote:
> 
>     By that definition 3.56 is a price. Maybe I misunderstood you and you're
>     lobbying for mBTC?
> 
> 
>     On 03/14/2014 03:57 PM, Tamas Blummer wrote:
>     > 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
>     <mailto:andreas@schildbach.de>
>     > <mailto:andreas@schildbach.de <mailto: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 <mailto:andreas@schildbach.de>
>     >>> <mailto:andreas@schildbach.de <mailto: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>
>     <mailto:g.rowe@froot.co.uk <mailto:g.rowe@froot.co.uk>>
>     >>>>>> <mailto: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>
>     >>>>>> <mailto:jgarzik@bitpay.com <mailto:jgarzik@bitpay.com>>
>     >>>>>> <mailto: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.
> 
> 
> 
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