Re:The Bitcoin Bubble and the Future of Currency
by NateDad on Wednesday April 03, 2013 @03:02PM
(#5488294)
Why is 37 cents too large for the granularity of a currency?
In 1913 terms, 37 cents of today's money was the equivalent of 2 cents, only double their smallest coinage.
Would you really be upset if any particular transaction was rounded up or down by 18 cents? Yes, if you're buying a single gumball, the price might be a little high today. But you let me know when gumball machines start taking bitcoins. For anything else, a resolution of +-18 cents is perfectly acceptable.... over any reasonable number of transactions, the round ups and round downs will come out to the same value anyway.
In 1913 terms, 37 cents of today's money was the equivalent of 2 cents, only double their smallest coinage.
Would you really be upset if any particular transaction was rounded up or down by 18 cents? Yes, if you're buying a single gumball, the price might be a little high today. But you let me know when gumball machines start taking bitcoins. For anything else, a resolution of +-18 cents is perfectly acceptable.... over any reasonable number of transactions, the round ups and round downs will come out to the same value anyway.