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

Mike Caldwell mcaldwell at swipeclock.com
Sun Apr 20 16:56:55 UTC 2014


As someone who has put a lot of thought into how to best help typical everyday people understand bitcoin, I strongly favor 1 bit = 1e-6 BTC as being very straightforward to explain to non technical types, and also XBT as one "bit".  "There are a million bits in a bit coin" is highly intelligible to average people. 

I consider overload/conflict with existing meanings of "bit" as a non-issue for typical population at large. 

Mike

Sent from my iPhone

> On Apr 20, 2014, at 10:31 AM, "Alan Reiner" <etotheipi at gmail.com> wrote:
> 
> Whatever we call it. I'm happy to support it as long as it's 1e-6.




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