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2023-06-07 20:08:42 CEST

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📅 Original date posted:2017-12-14
📝 Original message:On 13 December 2017 at 22:36, David A. Harding via bitcoin-dev
<bitcoin-dev at lists.linuxfoundation.org> 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 English---some of which are quite common
> in general currency usage, Bitcoin currency usage, or Bitcoin
> technical usage.
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] that you use every day. Homonyms are fine because our brains are able to interpret language based on context, so it's a non-argument. Also, the term 'bits' was used in reference to money long before 'bits and bytes' came along, and even before the metric system itself.
> https://en.wikipedia.org/wiki/Bit_(money)
> https://en.wikipedia.org/wiki/Spanish_colonial_real
> 'Bits' are superior to mBTC partly because we'll need to transition to bits eventually anyways (one transition is easier than two), but more importantly, bits have two decimal places, matching the format of dozens of other major currencies.
> No other currency has 8 decimal places, or even 4 decimal places. Most of them have 2. Dollars and cents, Bits and satoshis.
> If people actually want this to happen, then they need to train their own brains by switching their wallets and exchange settings to bits. The shift will probably happen eventually, although the major Bitcoin denomination probably isn't going anywhere any time soon, even if the majority of people use 'bits' as a matter of habit.
> 99.99 bits is currently equal to $1.63 USD.
---8<---------------------------------------------------------------
>
> - Microbitcoins trains users to understand SI prefixes, allowing them to
> easily migrate from one prefix to the next. This will be important
> when bitcoin prices rise to $10M USD[1] and the bits denomination has
> the same problems the millibitcoin denomination has now, but it's also
> useful in the short term when interacting with users who make very
> large payments (bitcoin-scale) or very small payments
> (nanobitcoin-scale).[2] Maybe a table of scale can emphasize this
> point:
>
> Wrong (IMO): Right (IMO):
> --------------- --------------
> BTC BTC
> mBTC mBTC
> bits µBTC
> nBTC nBTC
>
I wouldn't expect people to type out µBTC. I think the best you can
hope for here is uBTC. As for saying "microbitcoins", I can virtually
guarantee that this will be abbreviated to "microbits" and/or
eventually "bits" anyway. Bits and sats.
> [1] A rise in price to $10M doesn't require huge levels of growth---it
> only requires time under the assumption that a percentage of bitcoins will
> be lost every year due to wallet mishaps, failure to inherit bitcoins,
> and other issues that remove bitcoins from circulation. In other words,
> it's important to remember that Bitcoin is expected to become a
> deflationary currency and plan accordingly.
>
> [2] Although Bitcoin does not currently support committed
> nanobitcoin-scale payments in the block chain, it can be supported in a
> variety of ways by offchain systems---including (it is hypothesized)
> trustless systems based on probabilistic payments.
>
> Thanks,
>
> -Dave
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>

2023-06-07 19:35:44 CEST

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📅 Original date posted:2015-08-17
📝 Original message:His account on that website was also compromised.
2015-08-17 21:02 GMT+02:00 Anon Moto via bitcoin-dev <
bitcoin-dev at lists.linuxfoundation.org>:
> Satoshi,
>
> As much as I want to believe this is you it's very difficult to ignore the
> fact that Vistomail could have been hacked and I'm currently speaking to a
> troll.
> Can you copy and paste what you wrote above, to
> http://p2pfoundation.ning.com as well, like how you did during the Dorian
> fiasco?
>
>
> Much appreciated.
>
>
> On Sat, Aug 15, 2015 at 10:43 AM, Satoshi Nakamoto via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>> I have been following the recent block size debates through the mailing
>> list. I had hoped the debate would resolve and that a fork proposal would
>> achieve widespread consensus. However with the formal release of Bitcoin
>> XT 0.11A, this looks unlikely to happen, and so I am forced to share my
>> concerns about this very dangerous fork.
>>
>> The developers of this pretender-Bitcoin claim to be following my
>> original vision, but nothing could be further from the truth. When I
>> designed Bitcoin, I designed it in such a way as to make future
>> modifications to the consensus rules difficult without near unanimous
>> agreement. Bitcoin was designed to be protected from the influence of
>> charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or
>> Satoshi Nakamoto. Nearly everyone has to agree on a change, and they have
>> to do it without being forced or pressured into it. By doing a fork in
>> this way, these developers are violating the "original vision" they claim
>> to honour.
>>
>> They use my old writings to make claims about what Bitcoin was supposed
>> to be. However I acknowledge that a lot has changed since that time, and
>> new knowledge has been gained that contradicts some of my early opinions.
>> For example I didn't anticipate pooled mining and its effects on the
>> security of the network. Making Bitcoin a competitive monetary system
>> while also preserving its security properties is not a trivial problem, and
>> we should take more time to come up with a robust solution. I suspect we
>> need a better incentive for users to run nodes instead of relying solely on
>> altruism.
>>
>> If two developers can fork Bitcoin and succeed in redefining what
>> "Bitcoin" is, in the face of widespread technical criticism and through the
>> use of populist tactics, then I will have no choice but to declare Bitcoin
>> a failed project. Bitcoin was meant to be both technically and socially
>> robust. This present situation has been very disappointing to watch unfold.
>>
>> Satoshi Nakamoto
>>
>> _______________________________________________
>> bitcoin-dev mailing list
>> bitcoin-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
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2023-06-07 17:47:27 CEST

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