Post
Topic
Board Development & Technical Discussion
Re: Significant Decimal Precision
by
spartacusrex
on 16/07/2019, 17:55:52 UTC
Creating coloured coins and tokens will be a 'thing' at some point. L-BTC does it.

If you want to represent 21 million token units with 8 decimal places as a token you can either use 21 million BTC (not going to happen) or use MUCH smaller units.

You would need 16 decimal places to be able to colour 2.1 BTC that represented 21 mill to 8 decimal places.

The coloured tokens can be worth MUCH more than their BTC value.

I can see that most of you think we won't ever need to change the decimal precision.. but there are many use cases!  Grin

1)The token thing.

2)IoT M2M payments (something we are working on) will need machines to be able to pay each other micro amounts. A lot.

3) Better Lightning resolution

4) The invention of the stock markets increased global wealth 1000 fold. Crypto will do the same. These numbers will seem small in the coming years. Global wealth will be measured in Mega-Bucks (Million $$).   
 
5) A catastrophe wipes out almost all coins. You find 0.005 BTC. You need to start an entirely new economy with those funds. 

We're going to need a bigger boat decimal precision.