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authorJorge Timón <jtimon@monetize.io>2014-03-13 11:23:04 -0700
committerbitcoindev <bitcoindev@gnusha.org>2014-03-13 18:23:13 +0000
commit60fd78d1a8e4b1be371509070fb891a60cd0c718 (patch)
treef65e4b1a6da4491e8e82524cdc70d2703acfd112
parent6ac10272f98a601747b21e77513ff259d2c7d409 (diff)
downloadpi-bitcoindev-60fd78d1a8e4b1be371509070fb891a60cd0c718.tar.gz
pi-bitcoindev-60fd78d1a8e4b1be371509070fb891a60cd0c718.zip
Re: [Bitcoin-development] moving the default display to mbtc
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+Date: Thu, 13 Mar 2014 11:23:04 -0700
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+From: =?ISO-8859-1?Q?Jorge_Tim=F3n?= <jtimon@monetize.io>
+To: Troy Benjegerdes <hozer@hozed.org>
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+ 2.5 US_DOLLARS_3 BODY: Mentions millions of $ ($NN, NNN,
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+Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>,
+ Wendell <w@grabhive.com>
+Subject: Re: [Bitcoin-development] moving the default display to mbtc
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+
+On 3/13/14, Troy Benjegerdes <hozer@hozed.org> wrote:
+> <cynic hat: on>
+>
+> Every volatility bump messes up expectations of what a bitcoin is worth,
+> so why are we bikeshedding uBTC vs mBTC? Just be done with it and do mBTC
+> now, and plan uBTC for just after the next price spike to $10KUSD or
+> whatever,
+> and then plan on rolling back to mBTC when the price crashes from altcoin
+> money supply inflation competition.
+
+No, even if bitcoin crashes to 1 usd you don't need to change back to
+BTC, you can keep the existing-accounting-tools friendly micro. That's
+the whole point, having "one true only unit change". You would only
+need to change it if there was a sub-satoshi hardfork, which doesn't
+seem necessary anytime soon.
+
+On 3/13/14, Mike Hearn <mike@plan99.net> wrote:
+> I think it is highly optimistic to assume we'll need another 1000x shift
+> any time soon. By now Bitcoin isn't obscure anymore. Lots of people have
+> heard about it. Getting from $1 to $1000 was amazing, but it was possible
+> through huge media coverage. Getting from $1000 to $1,000,000 would take
+> massive adoption of the kind Bitcoin isn't ready for yet.
+
+We shouldn't make any assumptions about the future price of bitcoin to
+make the decision.
+
+On 3/13/14, Mike Hearn <mike@plan99.net> wrote:
+>>
+>> Even if a cup of coffee costs 3.12345 mBTC, that's a lot more annoying
+>> than 3123.45 uBTC.
+>>
+>
+> This is subjective though. To me the first price looks like the price of a
+> cup of coffee (or I just mentally double it). The second looks like the
+> price of an expensive holiday.
+
+This sounds very US-centric to me. Aren't you thinking in usd?
+
+It won't look like an expensive holiday to, say, someone used to Viet
+Nam Dong (VND), Uzbekistani Som (UZS) or Mongolian Tugrik (MNT).
+
+http://coinmill.com/BTC_calculator.html#BTC= 0.00312345
+
+
+"People seem to like mBTC" is just an ad populum fallacy: millions of
+flies can actually be wrong. Also you haven't showed them micros,
+maybe they like it too.
+
+So the only valid argument I've heard in favor of mBTC so far is "some
+wallets/services are doing it wrong already".
+
+