Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

I see further arguments supporting the “bit" denomination: huge benefit: - amounts denominated in bits fit nicely into legacy database structures and UIs with two decimal places for currency. This change to the usual currrency precision is a huge benefit for integration into existing

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

-------- Original Message > Subject: Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination > Local Time: December 15, 2017 12:20 PM > UTC Time: December 15, 2017 6:20 PM > From: bitcoin-dev@lists.linuxfoundation.org > To: Marcel Jamin <mar...@jamin.net>, Bit

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

>Bitcoin (BTC), Millibitcoin (mBTC) and Microbitcoin (µBTC) is the >correct< approach. It's tidy, systematic and precise. The SI system is great, but it's nice if you pick a base unit that is easy for intuition to comprehend. It is a fact that I weigh approximately

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

I think one could make the argument that the only people who talk about and understand 24 bit audio or 256 bit cryptography are the ones who can tell the difference very easily. To me, your example seems to try hard to make the case for a problem that won't exist in reality. Bitcoin (BTC),

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

An alternative to "training" users to understand SI prefixes could be to make 100 satoshi = 1 mu, spelling out the Greek letter. Although the Units page on the wiki has been brought up to argue against naming 10,000 satoshi = 1 finney, I would like to support

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

Reposting /u/BashCo's post on reddit here, for visibility: ---8<--- > Before anyone says 'bits' are too confusing because it's a computer science term, here's a list of homonyms [https://en.wikipedia.org/ wiki/List_of_true_homonyms]

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

On 13 December 2017 at 22:36, David A. Harding via bitcoin-dev wrote: > - Microbitcoins is not a homonym for any other word in English (and > probably not in any other language), whereas "bit" and "bits" have > more than a dozen homonyms in

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

As much as I love SI standards, "trains users to understand SI prefixes, allowing them to easily migrate from one prefix to the next" seems unrealistic. The metric system is about to have its 220th birthday and people in the US still don't use it. It makes sense to embrace terms that stick.

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

I think standardization of this term is a great idea. I second all of Jimmy's points. I think the analogy of dollars & cents to bits and satoshis is easy to grasp, particularly given that satoshis and cents are the smallest tangible units of their respective currencies. It's a concept that's

Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

On Wed, Dec 13, 2017 at 01:46:09PM -0600, Jimmy Song via bitcoin-dev wrote: > Hey all, > > I am proposing an informational BIP to standardize the term "bits". The > term has been around a while, but having some formal informational standard > helps give structure to how the term is used. > >