rich1.0npub1vhv758wuu8tjqg2ncwhypvs7dlg5t9q50x80zpskez6uc3sld9fq0rh6y8https://nostr.ae/npub1vhv758wuu8tjqg2ncwhypvs7dlg5t9q50x80zpskez6uc3sld9fq0rh6y8njumphttps://nostr.ae📅 Original date posted:2014-04-20 📝 Original message:The usefulness of a "bitcoin" unit will decrease as the value of the network increases. Today, a majority of transactions are denominated in fractions of a bitcoin. As a consequence, millibitcoin (mBTC) and microbitcoin (uBTC) units have been introduced to alleviate the decimal problem. While SI units are great for people well versed in them, there is a very good reason people aren't asking for 100 micro dollars in change. The average person is not going to be confident that the prefix they are using is the correct one, people WILL send 1000x more or less than intended if we go down this road, and these mistakes will happen frequently. Labeling should be easy enough for kindergarten kids. I propose that users are offered a preference to denominate the Bitcoin currency in a unit called a bit. Where one bitcoin (BTC) equals one million bits (bits) and one bit equals 100 satoshis. For a user discussion on the topic see: http://www.reddit.com/r/Bitcoin/comments/23flcn/bits_instead_of_%CE%BCbtc/ http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/