Unfortunately, the idea of pretending that 1$ = 1BTC doesn't work exactly as it should, because the Spend/Receive fields don't accept entries smaller than 0.01, even if smallest fraction for account is set to 1e-8. Neither does setting the decimal places to 8 in Preferences > Numbers > Decimal places affect Spend/Receive fields. Even setting to 3 doesn't increase them beyond 2 decimal places. GNC just blanks and ignores a number less than 0.01
That's tolerable, if we pretend that 1$ = 1 sat instead of 1 BTC, and round the the milisats of fees to nearest 10, as if they are US cents. That should be close enough for the foreseeable. HSC ------- Original Message ------- On Saturday, June 18th, 2022 at 04:05, HSC <contact@highseas.capital> wrote: > > > > Thank you, Michael D Novack! > That's a great solution until GNC development catches up to the crypto world: > we will keep separate GNC file for each cryptoasset. > > The remaining problem is that Bitcoin Lightning goes to 11 decimal places, > and Ethereum I think goes to 16. > Will round up to 1 sat for now, since it's still of insignificant value, but > eventually that will also need some improvement. > > Another thing is that moving from onchain Bitcoin to its Lightning layer > channels and back is a Bitcoin transaction in itself, which involves an > onchain fee to open the channel. (Subsequent instant txs in the LN channels > are at most a few sats for substantial BTC amount, and small payments txs > often cost less than 1 sat - a fraction of a US cent in value - as I > mentioned.) > So, I guess Lightning layer bitcoins will have to be represented by some > other fiat of the obscure ones that start with L perhaps. > > The other issue is exchanging BTC for USD stablecoins, such as USDC. Then > would have to represent that USD with some other dollar, such as the CAD > maybe? > > Might get error-prone. Since even Bitcoin is over a decade old now, seems > that it would be useful for GNC to allow "user-defined non-ISO" currencies, > such as "XBT" used for Bitcoin on some exchanges. > Seems unlikely that central banks will ever allow such currencies to become > ISO. > > > HSC > > > ------- Original Message ------- > On Saturday, June 18th, 2022 at 02:56, gnucash-user-requ...@gnucash.org wrote: > > > > > Today's Topics: > > > > 1. Re: Bitcoin Lightning payments (Michael or Penny Novack) > > 2. Re: Online crypto value quote (David T.) > > 3. Re: Online crypto value quote (Geoff) > > > > ---------------------------------------------------------------------- > > > > Message: 1 > > Date: Fri, 17 Jun 2022 22:45:25 -0400 > > From: Michael or Penny Novack stepbystepf...@comcast.net > > > > To: gnucash-user@gnucash.org > > Subject: Re: [GNC] Bitcoin Lightning payments > > Message-ID: 967b4023-8d76-dc43-9fbe-f00854c99...@comcast.net > > > > Content-Type: text/plain; charset=UTF-8; format=flowed > > > > On 6/17/2022 9:21 PM, HSC wrote: > > > > > Hello Everyone, > > > > > > Haven?t used GC a couple years, and trying to recollect how it all works. > > > > > > Current challenge is starting to work with payments and expenses that are > > > exclusively in Bitcoin. > > > > > Has anyone experience with some commercial accounting software that > > > handles Bitcoin in an easier way as a currency that it is? > > > > IF what you mean by "exclusively in bitcoin" is accounting JUST in > > bitcoin, you would not have to treat it as stock/commodity evaluated in > > some other currency. You could keep a set of books denominated in > > bitcoin. The lack of a currency symbol is an illusion, as they are just > > conventional symbols. Understand? In YOUR books "$" doesn't have to > > stand for dollars, it could stand for "bitcoin". > > > > Michael D Novack
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