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Mathematical system to show value of Cryptocurrency

MizzyMax

MizzyMax

Active member
Right now to buy anything that's 50 cents to a dollar from a store, it would cost you .0003 bitcoin to buy it. With my current proposal of creating a merchant wallet I have been thinking of how scary those numbers look and how they will look when more zeros start to come into play.


So I thought of creating a mathematical system for us to understand the basic worth of the currency and allow us to justify paying something along the lines of .0000573 to someone.


My current idea goes as follows


.00000564 is what the payout is


.564^5 is what it would look like


^5 is just how many zeros there are but the user really doesn't need to know that's what it means, just to know if that number is higher it's worth less and if it's lower it's worth more.


This creates an easy way to compare prices and analyze how much something is worth rather then counting the amount of zeros and thinking about how many zeros that cup of coffee you bought from Starbucks was compared to the one your buying from Dunkin' Donuts.


I'm not sure if this is the best user friendly way to go about this, but it's a start right? Any ideas?
 
MizzyMax said:
So I thought of creating a mathematical system for us to understand the basic worth of the currency and allow us to justify paying something along the lines of .0000573 to someone.
My current idea goes as follows
.00000564 is what the payout is
.564^5 is what it would look like
^5 is just how many zeros there are but the user really doesn't need to know that's what it means, just to know if that number is higher it's worth less and if it's lower it's worth more.
Click to expand...

As jimbursch mentioned, there are already other terms in place, but in case you were curious, what you're talking about is called scientific notation: https://en.wikipedia.org/wiki/Scientific_notation

It's very well recognized and is written as 5.64e-6. It also happens that the syntax you chose would also be a really bad choice. ^ is a pretty universal sign for powers in mathematics or xor function in programming.
 
MizzyMax said:
I have been thinking of how scary those numbers look and how they will look when more zeros start to come into play.
Click to expand...
Good intuition.
I see more, and more people addressing this as a problem.
Good and easy article on topic: https://bitcoinmagazine.com/articles/the-psychology-of-decimals-1384986908/

mBtc and uBtc did not work well for Bitcoin, so far. It is uncertain (no researches done yet) how many potential users bitcoin is loosing, because of this 0,00001 issue.
Are we going to be more lucky educating common people to our standards?

Other (more user friendly but less developer friendly) solution to this issue, is multiply every dash in existence, or shift comma (solutions close to protocol level change).
This could make price of 1 Dash closer to, what people are familiar with, in everyday cash use.
I.e. make "split", so 1DASH = 10 cents (0,1$). "30 dash for your coffee, Sir" - sounds good enough to me.

BIG change, I know. But maybe increased usability and other profits could justify this.

Here are same recent discussions on similar topic:
https://www.dash.org/forum/threads/dash-stock-split.9611/
and
https://www.reddit.com/r/dashpay/co...ellar_lumens_have_in_common/?ref=search_posts
 
Friend said:
Good intuition.
I see more, and more people addressing this as a problem.
Good and easy article on topic: https://bitcoinmagazine.com/articles/the-psychology-of-decimals-1384986908/

mBtc and uBtc did not work well for Bitcoin, so far. It is uncertain (no researches done yet) how many potential users bitcoin is loosing, because of this 0,00001 issue.
Are we going to be more lucky educating common people to our standards?

Other (more user friendly but less developer friendly) solution to this issue, is multiply every dash in existence, or shift comma (solutions close to protocol level change).
This could make price of 1 Dash closer to, what people are familiar with, in everyday cash use.
I.e. make "split", so 1DASH = 10 cents (0,1$). "30 dash for your coffee, Sir" - sounds good enough to me.

BIG change, I know. But maybe increased usability and other profits could justify this.

Here are same recent discussions on similar topic:
https://www.dash.org/forum/threads/dash-stock-split.9611/
and
https://www.reddit.com/r/dashpay/co...ellar_lumens_have_in_common/?ref=search_posts
Click to expand...
Bitcoin may only be divisible by 100,000,000 units but could we increase the decimal count? Currently we only have 8 decimal places to move and if long term if it does happen to hit some crazy million dollar mark or anything close to it then we won't be able to complete small transactions with that few of decimal places.

On what your saying though, is it actually possible to can just double all dash in existence? Everyone could just wake up to double the amount of Dash in their wallet automatically? Can it work?
 
MizzyMax said:
On what your saying though, is it actually possible to can just double all dash in existence? Everyone could just wake up to double the amount of Dash in their wallet automatically? Can it work?
Click to expand...
This technical question is good to ask developers. In my opinion it is possible to make it close to protocol level.
I don't think it would change much in network stability etc..
It's mostly psychological change to boost user friendliness and make dash feel like cash.

On my mind is to do something like this:
1. Comma shift - Make 1.00000000 dash into 1000.00000 dash with every dash in existence. 1000x increase
or
2. Multiply - Make 1.00000000 dash into 1000.00000000 dash with every dash. Also 1000x increase but different way.

//Current dufs supply is probably ok: https://www.reddit.com/r/dashpay/co...em_and_stellar_lumens_have_in_common/dhors32/
 
Last edited:
Vedran Yoweri said:
tinkering with coin supply is a kind of suicide. scams do that.
Click to expand...
Maybe..
Why do you think it's a suicide?

By the way, we do not change coin supply in typical scams manner. Everyone could simply get three zeros to their holdings. Those 3 zeros would be added to every place in protocol (1000000 (not 1000) dash for masternode, 3600 (not 3.6) dash produced per block, 5000 (not 5) dash in my paper wallet, ect.)

(Some people would perceive multiple name change of the token, or instamine as a scam. Who is willing to do little research will see the truth.)
 
The reason this will never happen is because it would set a terrible precedent. I.e. coin supply rules can be amended.

Community members have invested in dash based on current supply rules. Decimal places included.

Amending these rules in anyway would erode the trust of dash investors.
 
Doing a split like that does not affect true supply. The number of coins is completely arbitrary...
 
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