Right now, it's not a critical issue, but if the day comes when someone wants to denominate goods or services in BCH, it's going to be a nightmare.
Right now the exchange is 1 USD = 0.00227260649832.
Can you imagine seeing a price tag for something that costs 0.002272? It's really unfriendly. And people are incredibly lazy. The thing amazon figured out before everyone else is that any excuse NOT to buy something is a good excuse. Remember how hard they worked to patent "1 click shopping?"
If we want folks to start using BCH it's imperative that we do everything possible to make it simple.
There are are 2 options I've heard floated. People have suggested using mBCH or "MilliBCH" and just moving the decimal point, but that hasn't caught on yet.
I think a 100,000:1 coin split is a better idea, but it also might be harder to build consensus around, and could be a major headache for developers. If 1 BCH was in the neighborhood of 1 dollar it would be so much easier for people to think about and use.
Not to mention that unit bias is real. I hear my dumb roommates talking about how great Shiba is because "if it goes to 1 cent..." Yes he's kind of an idiot, but so are a lot of people. Building digital cash for the whole world means building for morons.
Anyway, people talk all the time about adoption, which is awesome. That's where the focus should be, but it seems like this is one of the most straightforward things we can do to aid adoption. I know it's just cosmetic, and it's just for appearances, but we need to acknowledge that appearances matter. They just do.
The time to fix this is in the next two years, during a bear cycle when people have (relatively speaking) stopped caring about crypto. It makes changes easier, espcially ones that require wallets and other stakeholders to update their software, which I know is a much bigger lift.
Are there other approaches to recalibrating the value of a single BCH I haven't heard of? Is there already work being done on this front I'm not aware of?
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source https://www.reddit.com/r/btc/comments/onl6rd/making_bch_more_friendly_for_human_users/
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