放在PTS钱包里不管它就行了

Some Opinions on the Default Unit of BTSX

Before the description of this question, I would like to talk about my understanding of how BitUSD will anchor to USD.
(If you have been to the bitfinex Futures Exchange(bitfinex.com), you should know that nowadays the BTC futures prices on bitfinex anchor to the BTC prices on Bitstamp by selling short or buying long.)


BTSX anchors to USD in the same way. The difference is that 796 uses BTC as collateral while BTSX uses XTS.)

What kind of price reference is uesd to anchor to 1USD by 1BitUSD?

For example:

Assume that, the price of 1XTS now in centralized exchange market is 20USD.

Then we make  1BitUSD=1USD,
which means    1BitUSD=0.05XTS=1USD.
 

Normally, 1BitUSD should be close to 0.05XTS in the BTSX system.
 

When we sell short or buy long, we must refer to the XTS price in centralized exchange market.
 

Assume that n is the price of long buying and short selling in BTSX, and m is the real-time price in centralized exchange market,
then the indicative price formula will be: n * m = 1.

In the example above, it will be 0.05*20=1

We can see that the higher the XTS price m is, the lower the n is.
 
And here comes my question, isn't the 4-million system setting too few?

Maybe you would say electronic currency is infinitely divided and there's no the so-called "too few".If 1XTS is bullish to 200USD, 1BitUSD in BTSX would tumble to 0.005XTS.When we refer to price to sell short or buy long in BTSX, it's not that intuitive just like centralized exchange which uses legal tender to settlement directly. We still need to determine what kind of price to operate by refering to the real-time price in centralized exchange.There is already a calculation made in this process. If the transaction price is the decimal 0.00X, it will add calculation burden undoubtedly.I read a report yesterday. It said one of the reasons why Dogecoin was on the rise was its enormous amount, which made small transactions more convenient and intuitive.  It also said for most of people , the ability to do mental arithmetic was not strong. It would be a headache to see many decimal places.

I think it makes sense. 56.3mBTC is surely more intuitive than 0.0563BTC. Definitely for an excellent product design, the easier to use, the better.This is very important. Our human brain isn't omnipotent. It has been processing massive data all the time. So in order to be more efficient, it would like to accept more intuitive and simple data to cut down calculation amount. If the learning cost is too high, it will keep people stay away.


So my advice is:
In order to let BTSX be easier to use, I suggest using mXTS as default unit directly in the very beginning of BTSX's first release.
 (Refering to BTC, once XTS is used to be the default unit, it won't be easy to change mXTS as the common unit any more. Besides, I believe a small unit is more beneficial for market depth.)

I believe that, 50mXTS*0.02USD will make BTSX system more simple and elegant than 0.05XTS*
20USD. Just let those guys in centralized exchange do the decimal math. And they like cheaper coin better, i mean, which seems cheaper.
 
One thing I would like to add:
Why will changing a smaller default unit be more intuitive? Because most of numbers we  usually see are integers. Comparing to how much 0.001347 is bigger than 0.000134, we are more familiar with how much 1347 is bigger than 134.
 
Another reason is that we have a familiar integer algorithm. Ten 1 is ten, ten 10 is a hundred, ten 100 is a thousand.
We've got familiar conversion rules about the number on the left of decimal point. But on the right of it, we have nothing. We can count 53672 fifty-three thousand six hundred and seventy-two. But when it comes to 0.53672, we can only read it zero point five three six seven two. There is no "ten 0.01 is ?" any more.

我最近一直在梳理赌球DAC的设计框架，目前已经越来越成熟了。有这方面兴趣的小伙伴吗？

建议直接把总量改成  400 亿算了，大家应该都没意见吧？

是40亿，但是一直改动总量是个很不好的事。

谢谢各位支持，我相信这是一个很有意义的改动，对各方都有利。已经PM bytemaster 还有 QQ联系沈波先生了。 :)希望by能采纳这个建议。

已经翻译成英文发到 Bitshares X 板块，传送门：https://bitsharestalk.org/index.php?topic=3024.0

bytemaster已回复，如下：

The number of shares is not relevant, because we will represent everything as percentages (eventually). 

So the only question is what fraction of a percent is considered a XTS.    I think using a DOGE style positioning of the decimal point may have some solid marketing purposes of appealing to the little guy.

在说明这个问题前，我说说我对以后BitUSD是如何锚定美元的理解。

（玩过796期货交易所的都知道，现在796上的比特币期货价格是通过卖空买多来锚定Bitstamp上的比特币价格。同样的，BTS X 也是通过同样的机制来锚定USD。不同的是796是用比特币做抵押，BTS X是用 XTS做抵押。）

1 BitUSD 是通过怎么样的价格参考来锚定 1 美元的呢？

举个例子：

假设：现在1XTS在中心交易市场的价格是20美元，

那么如果要  1BitUSD=1USD，
就应该是      1BitUSD=0.05XTS=1美元

正常情况下在BTS X系统内   1BitUSD就应该接近0.05XTS

我们要在买多卖空的时候肯定是要参考中心化交易市场上  XTS的价格的。

假设 BTS X中买多做空的价格为 n，中心交易市场上的实时价格m
那么，我们的指导价格公式就应该是：

 n  × m = 1；   #比如上面的例子：0.05 × 20 = 1

我们可以看到XTS的价格m越来高，那么n就越小。

那么我的问题来了，400万的系统设定量真的不是太少了吗？

或许你会说电子货币都是无限分割的，不存在太少的说法。假设看涨到1XTS 200美元，那么BTS X中的BitUSD 就应该跌到 0.005XTS。我们要在BTS X中买多卖空时参考价格，并不像直接用法币结算的中心化交易所那么直观，还要通过中心交易所的实时价格来决定自己用什么样的价位操作。这个过程就已经有了一层计算在内了，如果成交价格还是0.00X的小数，那么无疑会增加计算量。昨天我还看到一篇报道说，狗币兴起的其中一个原因就是狗币的量巨大，而使得小额交易更加方便直观。其中还提到说欧美国家大多数心算能力不强，看到多位小数更是头疼。我想这也不是没有道理的。56.3mBTC 肯定比 0.0563 BTC更加直观。一个优秀的产品设计肯定是越【简单易用】 就越好。这是很重要的，人的大脑并不是万能的，每时每刻都在处理着海量的数据，为了更加高效，大脑是喜欢接受一些更直观更简单的数据来减少运算量。学习成本要是太高会让人敬而远之的。


我的建议是：为了让BTS X更简单易用，建议BTS X从发布开始就直接使用 mXTS做为默认单位。（一旦用了XTS做默认单位后，再想改回用mXTS做通用单位并不是那么容易的，参考BTC。并且我相信单位改小更有利于市场深度）

我相信  50m XTS × 0.02美元  会比  0.05XTS  × 20美元  让 BTS X 系统更加简单优雅，把小数点留给在中心化交易所的人吧，而且他们更喜欢便宜的币，我是说看起来更便宜的币。


补充一点：

为什么改变默认单位改小会更直观呢？原因就于我们日常看到的用到的数字都是整数的多，我们识别 1347 大 134 多少 比 识别 0.001347  比 0.000134大多少要更有概念。 还有一个原因就是我们有对整数一套熟悉的算法，10个1 就是十，10个10就是百，10个100就是千，10个1000就是万。小数点左边都有一套我们已经熟悉的换算法则，小数点右边则没有，我们可以说，5万3千6百7十2，但是0.53672 我们就只能读  零点五三六七二  了。没有10个0.01叫什么的算法。

感谢log和补天！