{"type":"rich","version":"1.0","author_name":"npub1vhv758wuu8tjqg2ncwhypvs7dlg5t9q50x80zpskez6uc3sld9fq0rh6y8","author_url":"https://nostr.ae/npub1vhv758wuu8tjqg2ncwhypvs7dlg5t9q50x80zpskez6uc3sld9fq0rh6y8","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2014-04-20\n📝 Original message:The usefulness of a \"bitcoin\" unit will decrease as the value of the\nnetwork increases. Today, a majority of transactions are denominated\nin fractions of a bitcoin. As a consequence, millibitcoin (mBTC) and\nmicrobitcoin (uBTC) units have been introduced to alleviate the\ndecimal problem.\n\nWhile SI units are great for people well versed in them, there is a\nvery good reason people aren't asking for 100 micro dollars in change.\nThe average person is not going to be confident that the prefix they\nare using is the correct one, people WILL send 1000x more or less than\nintended if we go down this road, and these mistakes will happen\nfrequently. Labeling should be easy enough for kindergarten kids.\n\nI propose that users are offered a preference to denominate the\nBitcoin currency in a unit called a bit. Where one bitcoin (BTC)\nequals one million bits (bits) and one bit equals 100 satoshis.\n\nFor a user discussion on the topic see:\nhttp://www.reddit.com/r/Bitcoin/comments/23flcn/bits_instead_of_%CE%BCbtc/\nhttp://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/"}