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CounterpartyXCP / counterparty-core

Counterparty Protocol Reference Implementation
http://counterparty.io
MIT License
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Move Decimal Point on XCP (?) #2297

Open adamkrellenstein opened 2 weeks ago

adamkrellenstein commented 2 weeks ago

XCP is divisible to eight decimal places, but there are only ~2.6m in the primary unit—far less than any other coin than I know of. Most coins have total supplies on the order of 100x or 1000x greater. This causes confusion, who expect the market cap of XCP to be much larger than it is, based on the unit price. This proposal is to multiply all XCP balances by a factor of 100 or 1000 to bring the quantity of extant XCP more in line with expectations. We'd keep eight decimal places of divisibility, just for backwards compatibility.

fwiw I realized that I had set the supply even during the burn period in 2014

droplister commented 2 weeks ago

Concept ACK - Somewhere between 100x and 1000x seems about right to me, probably on the lower end of the range IMHO.

Would be interested in the implementation details like how would gas fees be adjusted relative to this change or how would an explorer represent historical activity made prior to this proportional change in units, but very in favor of this as a concept.

adamkrellenstein commented 2 weeks ago

I think by default all gas fees would be untouched. That is, they would be scaled accordingly. (Happy to consider proposals for adjusting fixed fees independently, however, if there's interest in that!)