I find a bit funny when people put imaginary barriers to the price of btc (*) on their speculations. Why people say $50 instead of 53 or 51.3 or even sqrt(3210)?
It's like they find the 0 positioned into the least significant digit as something relevant...
Maybe some people says 50 as an approximation, but what would you put in your ask price: $97 or $100?
I would love to see how many people choose "nice numbers" (like 100) instead of primary number (97)
What could happen if we all start using any other numerical system, like hexadecimal? I don't think we are going to say "Hey, it will break at 0x3C, I'm sure!". And what the number of digits would mean? it would be less accurate than now?
Does anybody knnows if there is there any study about this kind of stuff?
cheers!
EDIT: (*) to be fair this happen on any market/society, not only bitcoin
EDIT 2:
I found a some research's about this topic:
http://mro.massey.ac.nz/bitstream/handle/10179/2695/02_whole.pdf?sequence=1 (a mbs thesis)
http://www.cepr.org/pubs/Bulletin/meets/1180.htm
https://en.wikipedia.org/wiki/Psychological_pricing
It's like they find the 0 positioned into the least significant digit as something relevant...
Maybe some people says 50 as an approximation, but what would you put in your ask price: $97 or $100?
I would love to see how many people choose "nice numbers" (like 100) instead of primary number (97)
What could happen if we all start using any other numerical system, like hexadecimal? I don't think we are going to say "Hey, it will break at 0x3C, I'm sure!". And what the number of digits would mean? it would be less accurate than now?
Does anybody knnows if there is there any study about this kind of stuff?
cheers!
EDIT: (*) to be fair this happen on any market/society, not only bitcoin
EDIT 2:
I found a some research's about this topic:
http://mro.massey.ac.nz/bitstream/handle/10179/2695/02_whole.pdf?sequence=1 (a mbs thesis)
http://www.cepr.org/pubs/Bulletin/meets/1180.htm
https://en.wikipedia.org/wiki/Psychological_pricing