Bubble or No, This Virtual Currency Is a Lot of Coin in Any Realm

Re:Bubble or No, This Virtual Currency Is a Lot of Coin in A... by simondlr on Monday April 08, 2013 @07:25AM (#5511056)

Litecoin is currently the leading alternative. It's got a shorter confirmation time, uses scrypt as opposed to sha256, and will in the end have a larger total of coins.

All these make it seem like a better alternative for micro-transactions in the end.

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Re:Bubble or No, This Virtual Currency Is a Lot of Coin in A... by pakitan on Monday April 08, 2013 @08:16AM (#5511215)

How can larger number of coins be an advantage (or disadvantage for that matter)? As long as the supply is fixed it doesn't matter if the total is just 1 coin or 100 trillion coins.

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Re:Bubble or No, This Virtual Currency Is a Lot of Coin in A... by simondlr on Friday April 12, 2013 @04:37AM (#5537283)

There's been debates running now in the Bitcoin community what the new 'denomination' should be. So far, it mBTC (millibitcoins) is leading. You can still write it as 0.001 BTC, or 1 mBTC.

I'm just wondering in terms of psychology, what impact it has to write in ever decreasing denominations? Pricing something as 0.000232 BTC is much more difficult to read and understand. So, if there are more coins in circulation, this would hopefully not happen until much later. It will inevitable happen (if it is also a success). But just for adoption and ease of use in the short and medium term it will be easier to read.

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