Post
Topic
Board Bitcoin Discussion
Topic OP
Bitcoin needs something equivalent to a stock split
by
DrBitcoin
on 14/03/2014, 13:42:41 UTC
Would it be possible for the Bitcoin developers to agree upon and implement something like a stock split for Bitcoin.  Stock splits exist because as the price of a stock goes up, the average laymen investor sees the stock value and thinks "that's too expensive."  Stock splits are good for investor psyche as it lowers the barrier of entry for the average investor.

When average people see that 1BTC trades for $650, they feel like they've either missed the boat, or that it is just too much money to invest.  And while you can simply buy .50 BTC or .25BTC, from a psychological standpoint, it just doesn't feel as satisfying as owning 1 whole unit.

I see that there is a big unification towards the "millibit" terminology, but I think that is too confusing for the average person.  In the united states, we have resisted switching to the Metric system because "it's just too damn confusing." (which is insane, because inches and feet are arbitrary.  We should have switched to the metric system ages ago.)

Anyways...would there be some sort of way for the developers to state that on some date in the future, the value of .50 BTC is actually 1BTC, but the 21million number stays fixed? Is there a way to move the decimal places? Is there something that can be done to mimic a stock split? Long term, I think this would be good to entice new investors to Bitcoin.