Author: Alan Reiner 2014-04-20 15:50:55
Published on: 2014-04-20T15:50:55+00:00
Alan Reiner, the founder of Armory, supports the idea of using "microbitcoin" as the default unit for Bitcoin and integrating it into Armory as a default with appropriate explanations and settings/options. However, he is not convinced about the name "bits," which he believes is too overloaded. He started integrating alternative units into Armory, but there were more loose ends than expected that would require some work. He would prefer to get commitments from other wallet developers to make a unified push for it instead of changing the default right away. Tamas Blummer provides references to earlier discussions on the "bits" proposal in the bitcoin-development mailing list. Some members of the community are concerned that people may send 1000x more or less than intended if they use different units. Rob Golding proposes that users be 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. He suggests that for people unable to understand what a bitcoin is, they can just use satoshis instead.
Updated on: 2023-06-08T20:02:45.515409+00:00