Introducing "The Splittening"

Elmo

New Member
Masternode Owner/Operator
Sep 4, 2017
18
5
3
Dash, digital cash, so easy to use even grandma can use it!

This post addresses once more the difficulties of dealing with fractions of a Dash.

Grandma wants to buy a $3 coffee, it currently costs 0.01 Dash. When Dash is 10,000 it will cost 0.0003 Dash. It is easier for grandma to pay 1 or 2 Dash for something than 0.000236 Dash, etc

How to solve the problem:

1. Don't solve it, its a learning curve and grandma will eventually get it

2. Wallets could be programed to show the fiat equivalent next to the Dash
Coffee 0.00236 Dash (3.5 US Dollars)

3. Use micro Dash, mili Dash, duffs, dashotis, etc. Problem is: a. I don't see this as a solution for grandma, b. it could led to confusion: I am expecting a mili and get a micro, c. we waste resources from the Dash brand, to start branding duffs or something else, and with the rise in the price of Dash we are back where we started (using 0.02 milis)

4. Move the dot some digits to the right: 1 Dash "becomes" 10 Dash, or 100 Dash, etc.

My preferred solution is the last one, moving the dot, but how to do it?

We already have:

The Halvening (BTC reward going down by half)
The Flippening (ETH market cap surpassing Bitcoin)
The Hashening (BCH Hash rate surpassing BTC's)

So I Propose The Splittening!

On January 1st 2019, Every Dash becomes 1000 Dash. This will be the first Splittening.

The maximum number of Dash would go from Aprox 18 million to Aprox 18 billion

If a reward for a block is 3.6 Dash, it would go to 3,600 Dash

The balance in a wallet that had 1.2345 Dash would become 1,234.5 Dash

The price of Dash would go from $3,200 on December 31 to $4.9 on January 1st (JK 3.2)

A masternode would need 1 million Dash

Grandma could pay for her coffee with just 1 Dash

We go from having 8 decimal points to just 5

Wallets on January 1st announce to user: congratulations you now have 1,345,300 Dash!

Old wallets would be prevented from sending Dash in order for users to upgrade and not lose funds.

We advertise The Splittening and hold parties.

We use it to our advantage, to increase adoption.

Some people will want to buy Dash before The Splittening to get more coins.

I already bought mine!
 
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RGXDK

Guest
I'm having a hard time coming up with a reason for why this is a bad idea. Countries do this with currencies all the time. I think we should consider it once Dash reaches 10k.
 

Macrochip

Active Member
Feb 1, 2015
223
185
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There is no need for changes within the protocol just to please people in viewing numbers on their screen. Yeah, yeah I know "perception is reality" and "simple psychology goes a long way". Yada yada yada. But that's not the point here: Backend must never bend to a problem that can be solved by frontend easily. Otherwise you have terrible software engineering at your hands.

On a much broader point I find this whole debate very misleading, because the reference point (US-Dollar) is completely arbitrary and selfishly focussed on our experience as Westerners.

For example, ask an Indonesian by how many digits he wants the decimal point moved (1 USD is worth 13,468 Rp).

What will you say to him if he complains: "3 places is not enough! Please add 5 more to make it look more familiar to my own experience!" aaaand we're back to square one. See the problem now?

Long story short: Let the user determine their reference currency and have the wallet software set the decimal point accordingly. Frontend devs only need to provide regional defaults derived from geolocation. These tools already exist, it's mostly plug & play.

You can never please everyone, that's why software needs to be flexible, but that doesn't mean you have to break its back to achieve that goal.
 

camosoul

Grizzled Member
Sep 19, 2014
2,261
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This remains a stupid idea no many how many times it is proposed.

Having an estimated fiat value presented isn't a bad idea, but I think it should be part of the Vendor Solution.

Unfortunately, Vendors are a sub-group of users that Crypto at large, including DASH, simply do not give a fuck about.