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

[Tamas Blummer]

Here is an earlier reference to bits:

https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04248.html

I forgot that Alan Reiner was also supporting a unit equals to bits :

https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04264.html

and here the earlier going back to March 2013 and a poll at that time pushing for XBT being 1 bit

https://www.mail-archive.com/bitcoin-development%40lists.sourceforge.net/msg04256.html

Regards,

Tamas Blummer
http://bitsofproof.com

On 20.04.2014, at 16:53, Pieter Wuille <pieter.wuille at gmail.com> wrote:

> I told him specifically to bring it here (on a pull request for
> Bitcoin Core), as there is no point in making such convention changes
> to just one client.
> 
> I wasn't aware of any discussion about the "bits" proposal here before.
> 
> On Sun, Apr 20, 2014 at 4:28 PM, Tamas Blummer <tamas at bitsofproof.com> wrote:
>> 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.
>> 
>> Regards,
>> 
>> Tamas Blummer
>> http://bitsofproof.com
>> 
>> 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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