Author: Tamas Blummer 2014-04-20 14:28:52
Published on: 2014-04-20T14:28:52+00:00
The Bitcoin developers' mailing list has been discussing the proposal to denominate the Bitcoin currency in a unit called a bit. This would mean that one bitcoin (BTC) equals one million bits (bits) and one bit equals 100 satoshis. Some members of the mailing list have argued that using prefixes is unnecessary and that users can choose to use other divisions such as u/mBTC if they prefer. Others have expressed concerns that users may send incorrect amounts due to confusion about the correct prefix to use. The importance of these discussions may be fading, however, as people are already using wallets other than the core. Tamas Blummer, CEO of Bits of Proof, suggests that this particular discussion should be taken up with wallet developers instead.
Updated on: 2023-06-08T19:59:38.535390+00:00