[Bitcoin-development] "bits": Unit of account

Tamas Blummer tamas at bitsofproof.com
Sun Apr 20 14:28:52 UTC 2014

People on this list are mostly engineers who have no problem dealing with magnitudes and have rather limited empathy for people who have a problem with them.
They also tend to think, that because they invented money 2.0 they would not need to care of finance’s or people’s current customs. 

The importance of their decisions in these questions will fade as people already use wallets other than the core.

Bring this particular discussion elsewhere, to the wallet developer. 

BTW the topic was discussed here several times, you have my support and Jeff Garzik’s.


Tamas Blummer

On 20.04.2014, at 15:15, Rob Golding <rob.golding at astutium.com> wrote:

>> The average person is not going to be confident that the prefix they
>> are using is the correct one, 
> The use of any 'prefix' is one of choice and entirely unnecessary, and there
> are already established 'divisions' in u/mBTC for those that feel they need
> to use such things.
>> people WILL send 1000x more or less than
>> intended if we go down this road, 
> Exceptionally unlikely - I deal every day with currencies with 0, 2 and 3
> dp's in amount ranging from 'under 1 whole unit' to tens of thousands - Not
> once in 20 years has anyone ever 'sent' more or less than intended - oh,
> they've 'intended' to underpay just fine, but never *unintended*.
>> 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.
> I propose that for people unable to understand what a bitcoin is, they can
> just use satoshi's and drop this entire proposal.
> Rob
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