June 25, 2019, 01:58:30 pm

Author Topic: Two digits to the right of the decimal  (Read 1529 times)

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Offline tadspoles

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Two digits to the right of the decimal
« on: November 06, 2014, 11:21:16 am »
I have championed the two digits to the right of the decimal for bitcoin for a while now.  I also believe the name bits is perfect.  "You use bits on the bitcoin network."

Personally I think everywhere bitcoin is used it should be displayed like this (regardless of whether it is called bits or not):

2.34
89.23
93821.49
54.00

We should really consider this for GoldCoin as well.  Adoption is FAR easier when the currency looks like money that's currently being used.  As much as we can, we should try to get away from increments with long decimals: .00002345.

This is not pressing for GoldCoin now but we should consider it in the future.

Offline CryptoFreedom4Me

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Re: Two digits to the right of the decimal
« Reply #1 on: November 06, 2014, 11:33:30 am »
I have thought about this myself it makes it less confusing and more easier to understand specially for newcomers.
Would be nice if Goldcoin adopts this first.
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Offline MicroGuy

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Re: Two digits to the right of the decimal
« Reply #2 on: November 06, 2014, 04:20:26 pm »
Thanks for this post Tadspoles!

I moved this discussion to the technical section because it had been so long since a post was made in here. :D
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Offline nuggetgal

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Re: Two digits to the right of the decimal
« Reply #3 on: November 07, 2014, 09:31:01 pm »
After reading Tadpoles post I saw at http://www.coindesk.com/coinbase-announces-pricing-bits-bitcoin-buyback-option/...

Bitcoin payment processor Coinbase is now enabling merchants to display the cost of their goods and services in smaller denominations of bitcoins – "bits". Currently, a single bitcoin is divided into eight decimal places, with each unit known as a “Satoshi”. One bit (or µBTC) is worth 100 Satoshis, so something worth $1 can be priced at 1,700 bits rather than 0.0017 BTC.

I agree with "Adoption is FAR easier when the currency looks like money that's currently being used."
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