Author: Arne Brutschy 2014-04-20 18:22:49
Published on: 2014-04-20T18:22:49+00:00
In a Bitcoin development mailing list, Arne Brutschy proposed that users should have the preference to denominate the Bitcoin currency in a unit called a "bit" where one bitcoin equals one million bits and one bit equals 100 satoshis. However, Mike Caldwell disagrees with the proposal as he thinks the average mind has no problem overloading words and distinguishing the intended meaning from context and overloading a single syllable word with a new meaning is less complicated than using a unique three-plus syllable word. He believes that projecting software development warps onto people who are not familiar with it will not help in making Bitcoin appeal to them. Caldwell stated that most people are good at using context to relate one bitcoin can be divided into a million bits and accepting it. This requires much less of their mind resources than using SI prefixes correctly or learning three syllable words that have no instantly apparent relationship to Bitcoin.
Updated on: 2023-06-08T20:07:53.550848+00:00