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Would Bitcoin be considered another currency to stand alongside the USD and the CAD?
by alokhar 14y ago
Would Bitcoin be considered another currency to stand alongside the USD and the CAD?
- mtgx 14y agoAnd the Euro. But yes, I think so. My only concern is that if it becomes a 1 trillion $ worth of economy, you'll be talking in very small decimals of Bitcoin. Everything will cost like 0.000000x Bitcoins. I think this will be a very poor UX for most people. Unless they give the smallest decimal another name (Bits, coins, nanocoins, whatever), and then everyone deals in nanocoins, rather than Bitcoins. I wish the designer of Bitcoin would've thought about this before creating it. Maybe he just didn't think Bitcoin will become that popular, and become orders of magnitude more valuable than a dollar in a more distant future.
- cryowaffle 14y agoActually Satoshi discusses this in his original paper many years back. People will just transact in a smaller unit, like micro bitcoins. The official client has the ability to display your balance in a smaller unit. It all works quite well.
- wmf 14y agoLike IPv4, Bitcoin is an experiment that got out of hand before its flaws could be found and fixed.
- Raphael 14y agoMetric prefixes work just fine. milli, micro, nano, pico, femto, atto...
- GaryRowe 14y agoAlready in place: https://en.bitcoin.it/wiki/FAQ#What_do_I_call_the_various_denominations_of_bitcoins.3F https://en.bitcoin.it/wiki/FAQ#What_do_I_call_the_various_de...