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.

[Retstar12]

I think this is a great proposal one of the main hurdles with xcp is there is not enough Supply/liquidity and the price is too high. It's been one of the main hurdles since day one imo. People expect to see crypto with much larger amounts of coins in circulation.

I agree with moving the decimal point over 00 in order to increase the amount of xcp available, from 2.5mill to 250 mill which will also reduce the price per xcp accordingly from $10 to 10cents.
This will help with liquidty bigtime imo. It'll also make it more palatable for new investors/users.

Overall it's a great strategy to increase liquidty while welcoming in new users at an entry price that many would appreciate.

I believe this should happen before any new exchange listings... since xcp isn't really listed anywhere currently other then dextrade. I believe now is the time to open up votes to support.

I've been here since the beginning (proof of burn days) and I love this idea.

[davestaxcp]

imo the price of coin (and its circulating supply) doesnt matter, if I buy 2 AR for Arweave functions and the functions cost me 0.00003 Arweave, who cares what the price is at?

just make it cheaper to use xcp functions if "expensive XCP" is an issue

instead of 0.5 xcp to issue a named asset, make it 0.05 xcp or 0.005 xcp - boom. same effect imo