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From: Clark Moody <clark@clarkmoody.com>
To: Natanael <natanael.l@gmail.com>,
	 Bitcoin Protocol Discussion
	<bitcoin-dev@lists.linuxfoundation.org>
Subject: Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination
Date: Thu, 14 Dec 2017 17:11:17 -0600	[thread overview]
Message-ID: <CAHGSxGsTP8DeFnyWZRQStT4rvEv9k3QLd30JQ=f0EdEaui--NA@mail.gmail.com> (raw)
In-Reply-To: <CAAt2M19ZrbvrKc+mz1LEKrM2AuGH01gN+i9w8zSvdmazommMxg@mail.gmail.com>

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An alternative to "training" users to understand SI prefixes could be to
make 100 satoshi = 1 mu, spelling out the Greek letter.

Although the Units <https://en.bitcoin.it/wiki/Units> page on the wiki has
been brought up to argue against naming 10,000 satoshi = 1 finney, I would
like to support this designation. It seems to be gaining some popular
support on Twitter & podcasts. So at $10,000 BTC/USD, 1 finney = $1.00. The
smallest unit of value would be 0.0001 finney = 1 satoshi. Finney has a
natural abbreviation as fin, and 100 mu = 1 finney.

The Units page also refers to "bitcent" as 0.01 BTC, but if a "bit" is 100
satoshi, then what is a "bitcent" in that context?

/bikeshed

@Natanael you're exactly right. There are already multiple uses of "bits"
within bitcoin itself.

@Sjors I don't think a redefinition of 'satoshi' is going to happen ;-)



-Clark

On Thu, Dec 14, 2017 at 4:01 PM, Natanael via bitcoin-dev <
bitcoin-dev@lists.linuxfoundation.org> wrote:

>
> Reposting /u/BashCo's post on reddit here, for visibility:
>
> ---8<---------------------------------------------------------------
>
> > Before anyone says 'bits' are too confusing because it's a computer
> science term, here's a list of homonyms [https://en.wikipedia.org/wiki
> /List_of_true_homonyms] that you use every day. Homonyms are fine because
> our brains are able to interpret language based on context, so it's a
> non-argument.
>
>
> This ignores the fact that there exists multiple meanings of bits *within
> the same context*, and that beginners likely can't tell them apart.
>
> Feel free to try it yourself - talk about Bitcoin "bits" of a particular
> value with somebody who  doesn't understand Bitcoin. Then explain that the
> cryptography uses 256 bit keys. I would be surprised if you could find
> somebody who would not be confused by that.
>
> Let's say a website says a song is 24 bits. Was that 24 bit audio
> resolution or 24 bit price? Somebody writes about 256 bit keys, are that
> their size or value?
>
> You guys here can probably tell the difference. Can everybody...? Bits
> will cause confusion, because plenty of people will not be able to tell
> these apart. They will not know WHEN to apply one definition or the other.
>
> https://www.reddit.com/r/bitcoin/comments/24m3nb/_/ch8gua7
>
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev@lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>

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  reply	other threads:[~2017-12-14 23:11 UTC|newest]

Thread overview: 11+ messages / expand[flat|nested]  mbox.gz  Atom feed  top
2017-12-13 19:46 [bitcoin-dev] BIP Proposal: Utilization of bits denomination Jimmy Song
2017-12-13 21:36 ` David A. Harding
2017-12-14  8:02   ` Marcel Jamin
2017-12-14 22:01     ` Natanael
2017-12-14 23:11       ` Clark Moody [this message]
2017-12-15  6:27       ` Marcel Jamin
2017-12-15 18:20         ` Moral Agent
2017-12-15 18:46           ` Rhavar
2017-12-14 15:52   ` Sjors Provoost
     [not found] <CADPKye1m2_5PaqedMU9nPsmvpW-3S+LSoqt0LnQLXXk=MjDJew@mail.gmail.com>
     [not found] ` <CADPKye39X_QFi_G0we39ZWXAQme=veC1hCfc_fFFwjs15Op=Lw@mail.gmail.com>
     [not found]   ` <CADPKye1FjsjG9gO7oWngx2LDnVqRQT_ia4Ke-wPfCRbXjnfZCg@mail.gmail.com>
     [not found]     ` <CADPKye03UUnJ5T94m8OdBNC5k8wnXGVB-xpbqf363gzTtfN_6A@mail.gmail.com>
     [not found]       ` <CADPKye2H66iZt=uOz765zrVtv_toeAzfoJXaqQvJaUtadqjDwg@mail.gmail.com>
     [not found]         ` <CADPKye35ZxJDcfM2e+pvw+z6eZEyzj1-6VDcpHP6Z5FtX-=GOQ@mail.gmail.com>
     [not found]           ` <CADPKye0JD5kfmsGb-AzO6EfPubOGUXtxaEqizLQUQ3QJmCMLJQ@mail.gmail.com>
     [not found]             ` <CADPKye0_eozpfG35qCmPKX-MX+qYZBLt5peU0_jBOCfVoZfefQ@mail.gmail.com>
     [not found]               ` <CADPKye0PSwH_bMYa9DzRos9SgL4e2Vid1gEKnNtcUKQB-op5UQ@mail.gmail.com>
     [not found]                 ` <CADPKye04MRZkWtZm1mWnjmSe97v0-iZwAdYH6pSrFjpHfzuQ-w@mail.gmail.com>
     [not found]                   ` <CADPKye2Ozj6rqApztKyoeJvekofdaiP1=jbd6buxFTebEantMA@mail.gmail.com>
     [not found]                     ` <CADPKye3hyOH4Z+y_JgJUfEspSt8jL+ZGaU05v_fX3Wiwr2-N9g@mail.gmail.com>
     [not found]                       ` <CADPKye11prrk663bWAatFCkjktJNgemg-ECdZdP07RECWcE6nQ@mail.gmail.com>
     [not found]                         ` <CADPKye1+z2aUBXc3UECvmoNSGO23hXGzGXekFOTPy-rdHFG_Nw@mail.gmail.com>
     [not found]                           ` <CADPKye0i0LaGgS4Hmp086LLCnPEHNYqJ+VbZ2h2DxycTwY2srQ@mail.gmail.com>
     [not found]                             ` <CADPKye0dj5z=hDbooUOY-vhP0N+L=VzhOGn3Wue4tPgY3vnHwA@mail.gmail.com>
     [not found]                               ` <CADPKye3Z8PDe_5D28hcELDurtpr=5wgzazw3RT=Fc3gUDvhcng@mail.gmail.com>
     [not found]                                 ` <CADPKye0-JwfDJruc00XXd55Gm0Ho4c5EKGxqcCqyuFcTY=omYQ@mail.gmail.com>
     [not found]                                   ` <CADPKye27FpEYtO31XjX6KcG59HjfZzaGGW0gayO-xZVbdb7jtg@mail.gmail.com>
     [not found]                                     ` <CADPKye0Kt87cHbuOqphMOPY3TPmO1awH46k17rEoVZ4kAejkxw@mail.gmail.com>
2017-12-13 23:00                                       ` Daniel McNally
2017-12-24  4:26 Tamas Blummer

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