{"type":"rich","version":"1.0","author_name":"npub1xvnnyhz8e4eklaakjc9xgm5w8pzkuckt923uacz2cftqdqx23g7q3c5rqg","author_url":"https://nostr.ae/npub1xvnnyhz8e4eklaakjc9xgm5w8pzkuckt923uacz2cftqdqx23g7q3c5rqg","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2013-11-14\n📝 Original message:Obviously the answer is to just display all fees and trading rates as BTC\nor MBTC (.0000005 MBTC fee? how cheap!).  On a more serious note, the\ntransition should definitely be thought out well as it could be very\ndamaging to have this confusion, but I would prefer to do it only once\nrather than twice.\n\n\nOn Thu, Nov 14, 2013 at 4:00 PM, Alan Reiner \u003cetotheipi at gmail.com\u003e wrote:\n\n\u003e  Just keep in mind it will be a little awkward that 54.3 uBTC is the\n\u003e smallest unit that can be transferred [easily] and the standard fees are\n\u003e 500 uBTC.    It's not a deal breaker, it's just something that needs to be\n\u003e taken into consideration when it comes to user perception (which is one of\n\u003e the reasons we would make such a change in the first place).\n\u003e\n\u003e \"Holy crap these fees are huge!  I thought Bitcoin didn't have fees!\"\n\u003e\n\u003e\n\u003e\n\u003e On 11/14/2013 04:55 PM, Allen Piscitello wrote:\n\u003e \u003e I also would prefer to go straight to uBTC as the \"standard wallet\n\u003e unit\".    It works out perfectly with Satoshi's being the decimal units.\n\u003e Something that costs $10USD would be 25000uBTC.  This isn't a problem for a\n\u003e place like South Korea, where 10USD is about 10,000 Won, so we aren't even\n\u003e off on a scale of usable currencies in major economies.\n\u003e \u003e\n\u003e \u003e The downsides are obviously confusion (causing mistakes resulting in\n\u003e lost coins), and possibly from a psychological perspective on price (uBTC\n\u003e are worthless!).  On the other hand, it also might help people feel like\n\u003e they are getting in on the ground floor still (I own 100,000 uBTC!), and\n\u003e reduce the perception the Bitcoins are not divisible (I have heard several\n\u003e people worry that 21 million is not enough units).\n\u003e \u003e\n\u003e \u003e Alan's ideas for compatibility with multiple fields will also be helpful\n\u003e to solving the confusion issue.\n\u003e \u003e\n\u003e \u003e\n\u003e \u003e\n\u003e \u003e On Thu, Nov 14, 2013 at 3:15 PM, Mark Friedenbach \u003cmark at monetize.io\n\u003e \u003cmailto:mark at monetize.io\u003e \u003cmark at monetize.io\u003e\u003e wrote:\n\u003e \u003e\n\u003e\n\u003e For this reason I'm in favor of skipping mBTC and moving straight to\n\u003e uBTC. Having eight, or even five decimal places is not intuitive to\n\u003e the average user. Two decimal places is becoming standard for new\n\u003e national currencies, and we wouldn't be too far from human scale\n\u003e everyday numbers: 25.00uBTC ~= $0.01 currently. And I don't think very\n\u003e many people on this list would consider bitcoin overvalued in the long\n\u003e term perspective.\n\u003e\n\u003e Better to go through a confusing renumbering only once.\n\u003e\n\u003e Mark\n\u003e\n\u003e On 11/14/13 12:01 PM, Alan Reiner wrote:\n\u003e \u003e ... I'm also of the opinion that it's freakin' hard to change the\n\u003e \u003e base unit in such an established system.  There is no easy way to\n\u003e \u003e do this that doesn't cause more heartache than it's worth...\n\u003e\n\u003e \u003e\n\u003e\n\u003e \u003e\n\u003e ------------------------------------------------------------------------------\n\u003e \u003e     DreamFactory - Open Source REST \u0026 JSON Services for HTML5 \u0026 Native\n\u003e Apps\n\u003e \u003e     OAuth, Users, Roles, SQL, NoSQL, BLOB Storage and External API Access\n\u003e \u003e     Free app hosting. 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Or install the open source package on any LAMP server.\n\u003e \u003e Sign up and see examples for AngularJS, jQuery, Sencha Touch and Native!\n\u003e \u003e\n\u003e http://pubads.g.doubleclick.net/gampad/clk?id=63469471\u0026iu=/4140/ostg.clktrk\n\u003e \u003e\n\u003e \u003e\n\u003e \u003e _______________________________________________\n\u003e \u003e Bitcoin-development mailing list\n\u003e \u003e Bitcoin-development at lists.sourceforge.net\n\u003e \u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e DreamFactory - Open Source REST \u0026 JSON Services for HTML5 \u0026 Native Apps\n\u003e OAuth, Users, Roles, SQL, NoSQL, BLOB Storage and External API Access\n\u003e Free app hosting. Or install the open source package on any LAMP server.\n\u003e Sign up and see examples for AngularJS, jQuery, Sencha Touch and Native!\n\u003e http://pubads.g.doubleclick.net/gampad/clk?id=63469471\u0026iu=/4140/ostg.clktrk\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e\n\u003e\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20131114/cfa37763/attachment.html\u003e"}