Re: [Bitcoin-development] moving the default display to mbtc

[Matias Alejo Garcia <ematiu@gmail.com>]

I live in Argentina. Here, 1BTC is around half of a monthly average
wage (net), so, as you
can imagine, the value of 1 BTC is *very* inconvenient  for everyday
transactions.

 Also it presents an important entry barrier for new adopters: It would be
easier to accept buying thousands of "bits" than buying a tiny fraction
of a Bitcoin, for the same amount of pesos.

Changing to 1e-6 "bits" will solve both problems. Changing to 1e-6
"microbitcoins" will
solve the first one, but not sure about the second one. Buying (or
earning) mili or micro
something  isn't that sexy either.

Finally, against "micro" and in favor of "bits", micro is noted "μ",
which is also
 inconvenient (I had to copy and paste it from an other site). Many
different notations will be used like:  μBTC, uBTC,  "microBTC" and
even "mBTC".
Please prevent that.

These arguments also applies to many places in the  world (Argentina
is 40 out of 72 listed countries in
http://en.wikipedia.org/wiki/List_of_countries_by_average_wage).

matías




On Fri, May 2, 2014 at 10:13 PM, Alan Reiner <etotheipi@gmail.com> wrote:
> I've been a strong supporter of the 1e-6 unit switch since the beginning and
> ready to do whatever I can with Armory to help ease that transition.  I'm
> happy to prioritize a release that updates the Armory interface to make
> "bits" the default unit, when the time is right.  I think it makes sense to
> get as many apps and services to upgrade nearly simultaneously.
>
> My plan is to have a popup on the first load of the new version that briefly
> introduces the change, and mentions that they can go back to the old way in
> the settings, but make them work to do it.  For the transient period (6
> months?) all input boxes will auto-update nearby labels with the
> converted-to-BTC value as they type, so that they don't have to do any math
> in their head.  Similarly, all displayed BTC values will show both.  But the
> 1e-6 unit will always be default or first unless they explicitly change it
> in the interface.
>
>
>
>
>
> On 5/2/2014 8:54 PM, Ben Davenport wrote:
>
> I fully support this (it's what I suggested over a year ago), but what it
> comes down to is BitPay, Coinbase, Blockchain and Bitstamp getting together,
> agreeing what they're going to use, and doing a little joint customer
> education campaign around it. If there's community momentum around "bits",
> great.
>
> My only addition is that I think we should all stop trying to attach SI
> prefixes to the currency unit. Name me another world currency that uses SI
> prefixes. No one quotes amounts as 63 k$ or 3 M$. The accepted standard at
> least in the US is <currency-symbol><amount><modifier>, i.e. $63k or $3M.
> That may not be accepted form everywhere, but in any case it's an informal
> format, not a formal one. The important point is there should be one base
> unit that is not modified with SI prefixes. And I think the arguments are
> strong for that unit being = 100 satoshi.
>
> Ben
>
>
>
>
> On Fri, May 2, 2014 at 12:17 PM, Jeff Garzik <jgarzik@bitpay.com> wrote:
>>
>> <vendor hat: on>
>>
>> Related:
>> http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html
>>
>> --
>> Jeff Garzik
>> Bitcoin core developer and open source evangelist
>> BitPay, Inc.      https://bitpay.com/
>>
>>
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-- 
Matías Alejo Garcia
Skype/Twitter: @ematiu
Roads? Where we're going, we don't need roads!