Post
Topic
Board Bitcoin Discussion
Re: A difference of opinions at the Bitcoin Foundation regarding the XBT proposal?
by
solex
on 31/10/2014, 01:35:09 UTC
I don't even think this should be a debate. Every ISO currency makes use of 2 decimal places.

This is simply wrong:

https://en.wikipedia.org/wiki/ISO_4217

There are hundreds of millions of people who use currency which is not subdivided into hundredths. Why would they want to adopt two decimal places, just because bitcoin?

An international standard needs to treat all peoples equally. I think we should choose the lowest common denominator (i.e. the smallest possible denominational unit) as a compromise between the diverse financial traditions.

MOST people are used to 2 decimal place currencies. So by your own comment, they need to be considered.

And satoshis are too ridiculously small to be useful.

As the wikipedia article mentions:

Quote
The code JPY is given the exponent 0, because its minor unit, the Sen, although nominally valued at 100th of a Yen is of such negligible value that it is no longer used.
Quote
Some currencies do not have any minor currency unit at all and these are given an exponent of 0, as with currencies whose minor units are unused due to negligible value.