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

Un Ix slashdevnull at hotmail.com
Mon Apr 21 12:14:25 UTC 2014


Tamas,

"xbit" is only a typo or spelling error away from "XBT", and some folks may assume they refer to the same unit of measure, not knowing the new currency system as developers here do.

From your email, I got the idea of using "x" as a suffix at the end of a number of bits e.g. 17500x, like cents or centavos. I guess this might clash with formal S.I. notation but it's easy to read and has less ambiguity, IMHO.

> On 21/04/2014, at 2:21 pm, "Tamas Blummer" <tamas at bitsofproof.com> wrote:
> 
> Here is one to please those looking for a “fully qualified” slang word, that links with the official XBT:
> 
> xbit (spoken: ex-bit) would rationalise XBT (where X comes from supranational use) and is unique.
> 
> I personally associate from x to six also supporting the 1e-6 divisor of Bitcoin.
> 
> Regarding XBT: No matter who used it for what. The way Bloomberg will use it will define its use in finance,
> and since that did not happen yet, we are not late to shape.
> 
> Regards,
> 
> Tamas Blummer
> http://bitsofproof.com
> 
>> On 21.04.2014, at 07:41, Pieter Wuille <pieter.wuille at gmail.com> wrote:
>> 
>> 
>> On Apr 21, 2014 3:37 AM, "Un Ix" <slashdevnull at hotmail.com> wrote:
>> >
>> > Something tells me this would be reduced to a single syllable in common usage I.e. bit.
>> 
>> What units will be called colloquially is not something developers will determine. It will vary, depend on language and culture, and is not relevant to this discussion in my opinion.
>> 
>> It may well be that people in some geographic or language area will end up (or for a while) calling 1e-06 BTC "bits". That's fine, but using that as "official" name in software would be very strange and potentially confusing in my opinion. As mentioned by others, that would seem to me like calling dollars "bucks" in bank software. Nobody seems to have a problem with having colloquial names, but "US dollar" or "euro" are far less ambiguous than "bit". I think we need a more distinctive name.
>> 
>> -- 
>> Pieter
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