Fundamental Concern Decimal Places

Nope . This is equivalent to quantitive easing . They will hopefully give you double the coin anyway so you don’t lose out.

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I’m certain that’s what @ETNCEO means when he mentions an inflation event.

If so, it can be done proactively, through minimal (single digit percentage) inflation over time, rather than a huge inflation event all at once (say, 100% inflation, which is doubling supply).

The only concern I’d have is the havok it may have on exchanges not prepared for this. It’d also open up an interesting, and potentially damaging, trade window right after such an event.

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To add another thought, it does open some interesting possibilities, when you view it as a blending of currency and stocks. I’m referring primarily to something like a stock-split + buyback event; such a tactic would help bolster the Mobile Mining reserve, should it start to run out. It would also be an interesting way for Electroneum Ltd. to give back some of their profits to the community! (once they enter a profit-driven model)

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I agree that adding decimal places is easier, particularly from a technical standpoint. The problem with that lies in education of the people, as most are unaccustomed to more than 2 decimal places.

I don’t know if something like this would be possible, I’ll have to dwell on it a bit, but another interesting thought is to rethink how we view and interact with Electroneum through adding a fractional currency model. Think Cents, in regards to dollars, or Satoshi in regards to BTC. Then you could have, say, two decimal places on that “ETN-Cent”, effectively giving one ETN 4 decimal places.

It may be possible to simply add 4 decimal places on the backend, which can be fully utilized by exchanges and traders and those comfortable with more than 2 decimal places. Then, make that fractional model a UI/UX only experience, which can be toggled on/off by advanced users.

Yeah, that’s a very good point. Though, consider this; all this is speculation that ETN will reach a given value, in the realm of 10,000% greater than current value. By then, we may have more of a foothold, such that places will list price in ETN rather than a Fiat currency.

After all, isn’t that the dream goal of mass-adoption? :wink:

I’ve just never heard anything from Ells suggesting that he intends to do that. They way he talks about the two decimal places makes me think he wants it to stay that way. As far as increasing max supply, I guess I read the original comment/question wrong…they could and mostly likely will increase circulating supply, and there’s only so many times you can do that before you reach max supply…and if ETN still just uses two decimals…that presents a problem. There are some good suggestions for solutions on this thread, but…seems to me ETN will hit a wall at some point, inevitably…

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this is exactly what they do now with stock splits

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for us, we don’t know the cost of items in the developing nations, if etn gets to 3 dollars then .01 etn is 3c, what if something costs 5c?you would need to pay .02 etn for the item which is 6c, so you are overpaying by 1c. not a huge amount but when the price increases more and more… well, the story tells itself. I think Etn would need to create a circulation of coins, buying back coins to recirculate into the eco system with the mobile miner, when the price gets to high, they throw more coins out, when the price gets too low they throw less and less coins out. This is possible because they can offset the cost of buying back coins when they choose to monetise on the services they are providing. So i don’t know whats worse, adding decimal points, increasing supply, or controlling price!! Tough decisions will need to be made! of course this is all speculation on my part! But adding a decimal point seems the easiest! anyone else got other ideas because i am stuck on this.

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I am not sure why people dislike increasing circulation supply with a supplement airdrop? You don’t lose out . If you held Shitcoin USD you would have had no supplement airdrop and people seem ok with it?

The problem with adding a decimal is we are going against our founding principle which is a crypto currency that is easily understood as people may struggle with 3 decimal places.

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With most apps now they show on screen your crypto converted to your local fiat so i don’t think it would be a big deal if they changed it. Its a ways of anyway if it did happen but adding more decimals would make sense if the price went high. The main principle for ETN has been mass adoption so Im sure if it meant making the coin more usable over just having 2 decimals places to make it that slightly more simple I think they would just overlook that personally but who knows…

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good point…the app shows the fiat value anyway. :rofl:

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I can’t see any problem adding zeros, i think the market will teak it in a positive way and i believe that ETN already have a plan for that.

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i think it would be for the best i they changed the decimals from 2 to 4 !

It has to be kept as it is. Mass adoption means one thing…ease of use. Let’s not forget our main goal here.

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i think the decimals should stay, and they should double the supply as and when needed.

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I think the 2 decimal is perfect for the average New user that is used to fiat money :thinking: in my eyes it should stay :thinking:

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Many crytos use a stable coin to solve that problem. Using a unstable coin to transact everyday is challenging.

I think 2 decimals will to even when ETN is 1-2-3$

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There is no issue with 2 decimal places up to €10.00 per ETN.

Take a £ $ €10 ETN… that would mean 0.01 would be 10 cent/ pennies.

Nothing really costs less than 10 cent anymore.

Now imagine you do a weekly shop and you pay in ETN at €10 per ETN

Your bill is € 92.11

You pay 9.22 ETN (€ 92.20) and you have overpaid by 9 cents.

Lots of stores already do round up/ down to eliminate copper (low value) coins. (The store would probably make your bill € 92.10, so 9.21 ETN exact payment)

There is no issue up to £ $ € 10.00 ETN and if it gets beyond that, just leave the pennies behind you, happy with your intelligent investment and early adoption of Electroneum.

At €10 per ETN, the max you would ever overpay is 9 cent or pennies if the payee insisted on at least the exact payment, but you could only overpay.

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