Author: Thomas Voegtlin 2014-04-21 08:52:56
Published on: 2014-04-21T08:52:56+00:00
The proposal is to keep using the name "bitcoin" while shifting the decimal point. There would be a brief adjustment period where people would need to differentiate between "new bitcoins" and "old bitcoins". However, since Bitcoin users are tech-savvy individuals, it is believed that this ambiguity would not be a significant issue. The advantage of this proposal is that the name "bitcoin" is already established, so no marketing is needed.This renaming has happened several times in history when currency was debased. It would be the first time in the opposite direction for Bitcoin. Despite the fact that this proposal may seem sacrilegious, it could potentially solve the problem of high transaction fees by making smaller denominations more practical.
Updated on: 2023-06-08T20:04:25.219464+00:00