Author: Melvin Carvalho 2013-11-14 11:45:51
Published on: 2013-11-14T11:45:51+00:00
There is anecdotal evidence that the high value of bitcoin is putting off normal buyers as they feel putting down $400+ and only getting "1 coin" or having to buy in multiples of 1 whole coin is too much. It has been explained to them that they can buy fractional amounts, but it still seems to be causing concern. A straw poll from six months ago revealed that roughly 2/3 of respondents favored switching, while a further 20% said to switch after it hits 1000. Satoshi's comments suggest that eventually there will only be 21 million coins for 6.8 billion people in the world, but there are another 6 decimal places that aren't shown, for a total of 8 decimal places internally. There is a suggestion to change the default display in the software to make it less tiresome working with small numbers, with mbtc potentially becoming the default at some point.
Updated on: 2023-06-07T20:37:42.378077+00:00