Move Decimal Point on XCP (?)

[adamkrellenstein]

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]

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]

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!)

[Jpja]

Concept NACK.

[...] received XCP in return in proportion to the amount of bitcoin they burnt. This ensured that all 2,648,755 XCP that will ever exist were created and distributed in a fair, transparent and public manner.

http://web.archive.org/web/20150317193238/https://www.counterparty.io/news/why-proof-of-burn/

I don't like the optics of manipulating the supply. The supply was set in stone in 2014, and even though this proposal is equivalent to a stock split, it would set a dangerous precedent IMO.

Also, in my mind, XCP is a form of BTC – made from BTC through the burn into a superior, programmable kind of BTC. With the XCP supply 10x lower than that of BTC, you can think of XCP as platinum whereas BTC is gold.

[honma-munehisa]

Jpja does have a point.

A change in the unit is adjacent to a change in supply, and probably should be thoroughly considered and discussed before implementing.

Also, given the "lively debate" on a variety of topics in the community recently, it might be best to move slowly on changes that are non-essential and non-urgent.

"XCP as platinum whereas BTC is gold" --> this is nice!!!

[adamkrellenstein]

Changing the unit is precisely not changing the supply... it is changing the divisibility of the existing supply.

No one is rushing into anything, but this is a problem for token liquidity.