{"type":"rich","version":"1.0","author_name":"npub1mtxs7jztn027d9cylej99hltqq9vq84uxm80zl4naxafd9hpxqwsj9g5zm","author_url":"https://nostr.ae/npub1mtxs7jztn027d9cylej99hltqq9vq84uxm80zl4naxafd9hpxqwsj9g5zm","provider_name":"njump","provider_url":"https://nostr.ae","html":"📅 Original date posted:2014-04-20\n📝 Original message:If you absolutely want a name for some small unit (which may be\nvaluable, not knocking that part of the idea), please use anything\nother than \"bits\", which is already a massively overloaded term that\nwill confuse the hell out of people:\n\nHarddrive costs measured in \"bits per gigabyte\"?\nAn itunes movie download that costs 200,000 bits and takes 804.2\nmegabytes of space?\nOr a 10-megabit internet connection costing 10,000,000 bits per month?\n\nIt's especially bad given that bitcoin will likely be adopted first\nfor online use, where the competing (and more recognized) meaning of\n\"bit\" is most prevalent.\n\nNot to mention the overlap within bitcoin itself, with people already\nusing \"millibits\" in conversation as a shorthand for mBTC. Hence one\nnew \"bit\" is exactly 1/1000 of the old \"millibit\".\n\nMake something up if you have to, or just use satoshis.\n\nOn Sun, Apr 20, 2014 at 10:28 AM, Tamas Blummer \u003ctamas at bitsofproof.com\u003e wrote:\n\u003e People on this list are mostly engineers who have no problem dealing with\n\u003e magnitudes and have rather limited empathy for people who have a problem\n\u003e with them.\n\u003e They also tend to think, that because they invented money 2.0 they would not\n\u003e need to care of finance’s or people’s current customs.\n\u003e\n\u003e The importance of their decisions in these questions will fade as people\n\u003e already use wallets other than the core.\n\u003e\n\u003e Bring this particular discussion elsewhere, to the wallet developer.\n\u003e\n\u003e BTW the topic was discussed here several times, you have my support and Jeff\n\u003e Garzik’s.\n\u003e\n\u003e Regards,\n\u003e\n\u003e Tamas Blummer\n\u003e http://bitsofproof.com\n\u003e\n\u003e On 20.04.2014, at 15:15, Rob Golding \u003crob.golding at astutium.com\u003e wrote:\n\u003e\n\u003e The average person is not going to be confident that the prefix they\n\u003e are using is the correct one,\n\u003e\n\u003e\n\u003e The use of any 'prefix' is one of choice and entirely unnecessary, and there\n\u003e are already established 'divisions' in u/mBTC for those that feel they need\n\u003e to use such things.\n\u003e\n\u003e people WILL send 1000x more or less than\n\u003e intended if we go down this road,\n\u003e\n\u003e\n\u003e Exceptionally unlikely - I deal every day with currencies with 0, 2 and 3\n\u003e dp's in amount ranging from 'under 1 whole unit' to tens of thousands - Not\n\u003e once in 20 years has anyone ever 'sent' more or less than intended - oh,\n\u003e they've 'intended' to underpay just fine, but never *unintended*.\n\u003e\n\u003e I propose that users are offered a preference to denominate the\n\u003e Bitcoin currency in a unit called a bit. Where one bitcoin (BTC)\n\u003e equals one million bits (bits) and one bit equals 100 satoshis.\n\u003e\n\u003e\n\u003e I propose that for people unable to understand what a bitcoin is, they can\n\u003e just use satoshi's and drop this entire proposal.\n\u003e\n\u003e Rob\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e Learn Graph Databases - Download FREE O'Reilly Book\n\u003e \"Graph Databases\" is the definitive new guide to graph databases and their\n\u003e applications. Written by three acclaimed leaders in the field,\n\u003e this first edition is now available. Download your free book today!\n\u003e http://p.sf.net/sfu/NeoTech\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e\n\u003e\n\u003e\n\u003e ------------------------------------------------------------------------------\n\u003e Learn Graph Databases - Download FREE O'Reilly Book\n\u003e \"Graph Databases\" is the definitive new guide to graph databases and their\n\u003e applications. Written by three acclaimed leaders in the field,\n\u003e this first edition is now available. Download your free book today!\n\u003e http://p.sf.net/sfu/NeoTech\n\u003e _______________________________________________\n\u003e Bitcoin-development mailing list\n\u003e Bitcoin-development at lists.sourceforge.net\n\u003e https://lists.sourceforge.net/lists/listinfo/bitcoin-development\n\u003e"}