Furthermore, Quadrillion sounds like a joke to people. They can’t comprehend a number that big. Almost seems infinite. Would do a huge disservice to Bitcoin.
Discussion
They have a hard enough time understanding what 21 million is.
100% - most people don't comprehend that we went from governments spending hundreds of millions (on whatever) to spending dozens of billions in a very short period of time. If they'd understand numbers they'd be outraged and they would put ALL of their assets into BTC
Exactly. Because nothing screams sound money like quadrillion. Might as well call them moon credits.
do people in Lebanon say/think?:
1. there are quadrillions of pounds in the M3 supply
or
2. they have and/or they are spending x amount of pounds
it is the “pound” brand name that has persisted and is known despite the quadrillions of unit measurements
People in Lebanon think the Pound is a terrible brand. And that very much to do with number of units in existance.
nope, the pound’s etymology relates to sound money
it is the change in the scarcity of lebanese pounds that ruined its relative value
associating bitcoin’s brand and etymology to its actual units doesn’t change its scarcity
Good luck explaining to people that 2.1 quadrillion bitcoin is more scarce than $21.76 trillion USD
scarcity has everything to do with the strength of the ratio and nothing to do with the numerals of the numerator and denominator
You and I know this. People that supposedly are unable to comprehend decimals will just see a bigger number of Bitcoin compared to the USD money supply.
bitcoin’s UX should be designed for the people of the world of which the vast majority struggle with small decimals… not just designed for you and me
don’t massively shrink the total addressable economic market because you hold a tradition sacred or your savings are in a niche currency and most people are going to be buying wrapped (not bitcoin) bitcoin
Maybe the answer is more decimal points? We have to try and think like normal people and I’m pretty sure normal people like decimal points so having lots of them would be good.
21.0.0.0.0.0.0 will be much easier. I met a normal person once, which is probably more than Jack Dorsey.