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From: ZmnSCPxj <ZmnSCPxj@protonmail.com>
To: Peter Todd <pete@petertodd.org>,
	Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] Softfork proposal for minimum price of $50k USD/BTC
Date: Mon, 01 Apr 2019 03:02:28 +0000	[thread overview]
Message-ID: <w46b6dgqqyu8-vDImIzlztiQx-l22uzl8c9SLG-iIo7-_uZAfdjpV7a1b1FJqXeG09yuaeVOp5pe58HzDbtEBwZmW28hrG7TEiZDgJCUfaY=@protonmail.com> (raw)
In-Reply-To: <20190401011112.6icdkyjocf4qh5oz@petertodd.org>

Hard NAK.

A minimum 50000 USD : 1 BTC exchange rate implies that the value of 1 USD = 0.00002 BTC at maximum.

However, such a USD value in BTC value maximum makes no sense since the true value of 1 USD = 0.00000000 BTC.
(on Lightning, 1 USD = 0.00000000000 BTC)

In particular, the encoding proposed in the BIP does not support a representation of infinity USD per BTC, such that it is impossible to express the true value of USD under this BIP.

> * The USD/BTC rate used for the transaction, in standard signed integer serialisation, with all leading zeros removed (except as necessary to preserve the sign bit).

Regards,
ZmnSCPxj






  parent reply	other threads:[~2019-04-01  3:02 UTC|newest]

Thread overview: 13+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2019-04-01  0:30 [bitcoin-dev] Softfork proposal for minimum price of $50k USD/BTC Luke Dashjr
2019-04-01  1:04 ` Ricardo Filipe
2019-04-01  2:57   ` Thomas France
2019-04-01  3:04   ` Dave Scotese
2019-04-01  1:11 ` Peter Todd
2019-04-01  2:55   ` Omar Shibli
2019-04-01  3:02   ` ZmnSCPxj [this message]
2019-04-01  3:07   ` Satoshin
2019-04-01  8:55     ` LORD HIS EXCELLENCY JAMES HRMH
2019-04-01  2:54 ` Omar Shibli
2019-04-01 11:22 ` Melvin Carvalho
2019-04-01 11:50   ` Dana L. Coe
2019-04-02 16:48     ` Aymeric Vitte

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