Post
Topic
Board Development & Technical Discussion
Topic OP
Would it be possible to reestablish the decimal value of a bitcoin?
by
BawsyBoss
on 21/04/2014, 03:00:46 UTC
I've read around that one of the reasons for bitcoin's slow adoption is the psychological factor of having "just a few bitcoins." Hypothetically speaking, would it be possible to simply redefine what a bitcoin is worth? Say, multiply it by 1000 so that a bitcoin becomes what a millibitcoin is currently considered, and therefore, leave the maximum amount of bitcoins at 21 billion with up to 5 decimal places? What would be advantages and disadvantages to this? Do you think it would even be worth the hassle?

These last few questions were mostly just for me to develop a standpoint. But what I really want to get answered is, how feasible is it assuming it needs to be done?