<p dir="ltr">The world is rapidly becoming a place in which a solid grasp of orders of magnitude could be considered a basic mathematical skill. People are very likely to learn what mBTC and µBTC are simply because they risk their money if they do not. This is not a bad thing and I think stands only to help people who learn about these monikers for orders of magnitude this way.</p>
<p dir="ltr">Any appropriate nicknames for these denominations is sure to develop in due course. Promoting an already-overloaded term that could just as easily be applied colloquially to refer to a small amount of value in any currency seems problematic.</p>
<div class="gmail_quot<blockquote class=" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
<div bgcolor="#FFFFFF" text="#000000">
I've been a staunch supporter of "microbitcoin" and would like to do
anything I can to make sure that we jump directly to it if we're
going to promote changing the default units. And I'm happy to
integrate it into Armory as a default (with appropriate explanations
and settings/options). I'm not so convinced about the "bits" name
though -- I do like it, but I do also think that word is too
overloaded. Though, I think we could get away with it. <br>
<br>
(Sadly, I still use "microbes" occasionally (as in <b>microb</b>itcoin)
when I'm talking to coworkers, because it slips off the tongue and
is actually a good combination of brevity and self-explanatory -- it
just doesn't instill the right visuals...)<br>
<br>
We started integrating alternative units into Armory. But, of
course, there were a few more loose ends than I expected, which will
require some work. We want to put it in but not necessarily change
the default right away. I'd <i>prefer</i> we get some commitments
from some other wallet developers, so we can make a unified push for
it. I'm happy to lead that and make it default as long as I'm not
the only one in the world doing it.<br>
<br>
-Alan<br>
<br>
<br>
<br>
<div>On 04/20/2014 11:05 AM, Tamas Blummer
wrote:<br>
</div>
<blockquote type="cite">
<div>Here is an earlier reference to bits:</div>
<div><br>
</div>
<div><a href="https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg04248.html" target="_blank">https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04248.html</a></div>
<div><br>
</div>
<div>I forgot that Alan Reiner was
also supporting a unit equals to bits :</div>
<div>
<div><br>
</div>
<div><a href="https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg04264.html" target="_blank">https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04264.html</a></div>
<div><br>
</div>
</div>
<div>and here the earlier going back
to March 2013 and a poll at that time pushing for XBT being 1
bit</div>
<div><br>
</div>
<div><a href="https://www.mail-archive.com/bitcoin-development@lists.sourceforge.net/msg04256.html" target="_blank">https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04256.html</a></div>
<div><br>
</div>
<div><span style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;display:inline!important;font-weight:normal;float:none;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px">Regards,</span><br style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px">
<br style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px">
<span style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;display:inline!important;font-weight:normal;float:none;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px">Tamas Blummer</span><span style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:start;font-style:normal;font-weight:normal;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px"><br style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px">
<span style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;display:inline!important;font-weight:normal;float:none;line-height:normal;text-transform:none;font-size:12px;white-space:normal;font-family:Helvetica;word-spacing:0px"><a href="http://bitsofproof.com" target="_blank">http://bitsofproof.com</a></span>
</span></div>
<br>
<div>
<div>On 20.04.2014, at 16:53, Pieter Wuille <<a href="mailto:pieter.wuille@gmail.com" target="_blank">pieter.wuille@gmail.com</a>>
wrote:</div>
<br>
<blockquote type="cite">I told him specifically to bring it here
(on a pull request for<br>
Bitcoin Core), as there is no point in making such convention
changes<br>
to just one client.<br>
<br>
I wasn't aware of any discussion about the "bits" proposal
here before.<br>
<br>
On Sun, Apr 20, 2014 at 4:28 PM, Tamas Blummer <<a href="mailto:tamas@bitsofproof.com" target="_blank">tamas@bitsofproof.com</a>>
wrote:<br>
<blockquote type="cite">People on this list are mostly
engineers who have no problem dealing with<br>
magnitudes and have rather limited empathy for people who
have a problem<br>
with them.<br>
They also tend to think, that because they invented money
2.0 they would not<br>
need to care of finance's or people's current customs.<br>
<br>
The importance of their decisions in these questions will
fade as people<br>
already use wallets other than the core.<br>
<br>
Bring this particular discussion elsewhere, to the wallet
developer.<br>
<br>
BTW the topic was discussed here several times, you have my
support and Jeff<br>
Garzik's.<br>
<br>
Regards,<br>
<br>
Tamas Blummer<br>
<a href="http://bitsofproof.com" target="_blank">http://bitsofproof.com</a><br>
<br>
On 20.04.2014, at 15:15, Rob Golding
<a href="mailto:rob.golding@astutium.com" target="_blank"><rob.golding@astutium.com></a> wrote:<br>
<br>
The average person is not going to be confident that the
prefix they<br>
are using is the correct one,<br>
<br>
<br>
The use of any 'prefix' is one of choice and entirely
unnecessary, and there<br>
are already established 'divisions' in u/mBTC for those that
feel they need<br>
to use such things.<br>
<br>
people WILL send 1000x more or less than<br>
intended if we go down this road,<br>
<br>
<br>
Exceptionally unlikely - I deal every day with currencies
with 0, 2 and 3<br>
dp's in amount ranging from 'under 1 whole unit' to tens of
thousands - Not<br>
once in 20 years has anyone ever 'sent' more or less than
intended - oh,<br>
they've 'intended' to underpay just fine, but never
*unintended*.<br>
<br>
I propose that users are offered a preference to denominate
the<br>
Bitcoin currency in a unit called a bit. Where one bitcoin
(BTC)<br>
equals one million bits (bits) and one bit equals 100
satoshis.<br>
<br>
<br>
I propose that for people unable to understand what a
bitcoin is, they can<br>
just use satoshi's and drop this entire proposal.<br>
<br>
Rob<br>
<br>
<br>
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