Scarcity is BS, people like to think in whole numbers, not fractions. If you make a coin that the average person has do deal with the concept of 0.00000934 to buy a burger, the thing will be a flop. It will only appeal to the exchange geeks like most of the alt coins.
That has nothing to do with scarcity. That can be solved by simple saying 0.001 is 1 Net dollar. Then as the Net dollar becomes 0.0001 then we call that 1 Net dollar and so on.
Scarcity is BS, people like to think in whole numbers, not fractions. If you make a coin that the average person has do deal with the concept of 0.00000934 to buy a burger, the thing will be a flop. It will only appeal to the exchange geeks like most of the alt coins.
Agreed. Scarcity can make NetCoin price too high in term of USD, which is too risky to everyone for trading and keeping it. It is not good for adoption
As a novice guy, I like to keep some NetCoins instead of a fraction of it: 0.0001 NetCoin. Also, I feel safe if 1 USD can be exchanged for 2 NetCoins instead of 0.00012 NetCoin. Dealing with floating point is not comfortable at all.
However, I also agree that Scarcity can make NetCoin attractive to early adopters because it makes miners think that they are holding something more valuable. But when it comes to mass market, it is not a nice idea any more.
It wont make the price too high. It's really simple. 1 Bitcoin dollar is 0.001. It might change a little bit but for now that's an approximation. We can easily put the dollar amount next to BTC so when you have 0.2443 BTC it's $3. We could do the same for Netcoin.
The reason this isn't a problem isn't because of scarcity, it's because the exchange developers and others involved in the infrastructure are either lazy, or are nerds who expect everyone to like fractions. This will change as it goes mainstream for many of the reasons you mention and the change doesn't have to be built into the coin design it just requires a small piece of code that I could write or anyone could which fetches the latest exchange rate and then translates it into dollars, cents, etc.
TacoTimer please incorporate Luckybits suggestion. Improvements to BTC and half the currency will really propel netcoin forward