From: Mike Gehl <mjgehl@gmail.com>
To: bitcoin-development@lists.sourceforge.net
Subject: [Bitcoin-development] "bits": Unit of account
Date: Sun, 20 Apr 2014 07:35:08 -0500 [thread overview]
Message-ID: <CAJKMfeQO6pyi5b-83FyMSHcq0Sa1QkP+RouQVBdCYPtXXboY8A@mail.gmail.com> (raw)
The usefulness of a "bitcoin" unit will decrease as the value of the
network increases. Today, a majority of transactions are denominated
in fractions of a bitcoin. As a consequence, millibitcoin (mBTC) and
microbitcoin (uBTC) units have been introduced to alleviate the
decimal problem.
While SI units are great for people well versed in them, there is a
very good reason people aren't asking for 100 micro dollars in change.
The average person is not going to be confident that the prefix they
are using is the correct one, people WILL send 1000x more or less than
intended if we go down this road, and these mistakes will happen
frequently. Labeling should be easy enough for kindergarten kids.
I propose that users are offered a preference to denominate the
Bitcoin currency in a unit called a bit. Where one bitcoin (BTC)
equals one million bits (bits) and one bit equals 100 satoshis.
For a user discussion on the topic see:
http://www.reddit.com/r/Bitcoin/comments/23flcn/bits_instead_of_%CE%BCbtc/
http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/
next reply other threads:[~2014-04-20 12:35 UTC|newest]
Thread overview: 56+ messages / expand[flat|nested] mbox.gz Atom feed top
2014-04-20 12:35 Mike Gehl [this message]
2014-04-20 13:15 ` [Bitcoin-development] "bits": Unit of account Rob Golding
2014-04-20 14:28 ` Tamas Blummer
2014-04-20 14:52 ` Christophe Biocca
2014-04-21 8:52 ` Thomas Voegtlin
2014-04-21 9:34 ` Tamas Blummer
2014-04-22 14:55 ` Natanael
2014-04-20 14:53 ` Pieter Wuille
2014-04-20 15:05 ` Tamas Blummer
2014-04-20 15:50 ` Alan Reiner
2014-04-20 16:19 ` Chris Pacia
2014-04-20 16:27 ` Wladimir
2014-04-20 16:30 ` Chris Pacia
2014-04-22 13:51 ` Aaron Axvig
2014-04-23 9:44 ` Danny Hamilton
2014-04-23 9:56 ` Tamas Blummer
2014-04-23 11:48 ` Chris D'Costa
2014-04-20 16:23 ` Erik Garrison
2014-04-20 16:30 ` Alan Reiner
2014-04-20 16:56 ` Mike Caldwell
2014-04-20 17:47 ` Jannis Froese
2014-04-20 18:10 ` Pavol Rusnak
2014-04-20 17:42 ` Arne Brutschy
2014-04-20 18:11 ` Mike Caldwell
2014-04-20 18:22 ` Arne Brutschy
2014-04-20 18:34 ` Mike Caldwell
2014-04-20 18:43 ` Oliver Egginger
2014-04-20 19:19 ` Christophe Biocca
2014-04-20 19:32 ` Gmail
2014-04-20 20:28 ` Mike Caldwell
2014-04-21 0:16 ` Justin A
2014-04-21 1:18 ` Mike Caldwell
2014-04-21 1:33 ` Un Ix
2014-04-21 3:34 ` Mike Caldwell
2014-04-21 4:08 ` Christopher Paika
2014-04-21 5:41 ` Pieter Wuille
2014-04-21 5:51 ` Tamas Blummer
2014-04-21 6:21 ` Tamas Blummer
2014-04-21 12:14 ` Un Ix
2014-04-21 12:24 ` Tamas Blummer
2014-05-01 22:35 Aaron Voisine
2014-05-03 2:06 ` Gordon Mohr
2014-05-03 5:41 ` Aaron Voisine
2014-05-03 15:48 ` Christophe Biocca
2014-05-03 16:02 ` slush
2014-05-03 16:10 ` Tamas Blummer
2014-05-03 16:27 ` Mike Caldwell
2014-05-04 1:04 ` Chris Pacia
2014-05-04 5:18 ` Drak
2014-05-04 6:15 ` Aaron Voisine
2014-05-04 6:23 ` Un Ix
2014-05-04 6:27 ` Wladimir
2014-05-04 6:36 ` Tamas Blummer
2014-05-04 6:59 ` Wladimir
2014-05-04 14:42 ` Mike Caldwell
2014-05-05 22:33 ` Gordon Mohr
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