Author: Tamas Blummer 2014-04-21 05:51:45
Published on: 2014-04-21T05:51:45+00:00
In an email conversation between Pieter Wuille and Un Ix, the discussion of whether to use "bit" or "XBT" (an acronym to fit into the ISO currency set) was debated. Both terms mean 100 satoshis or 1e-6 Bitcoin. While Un Ix suggested using "bit" for everyday use, Pieter argued that what units would be called colloquially is not something developers should determine. He believed it may be fine for people in some geographic or language area to call 1e-06 BTC "bits," but using that as the official name in software would be very strange and potentially confusing. Instead, he suggested a more distinctive name than "bit." Tamas Blummer, who shared this conversation on his website bitsofproof.com, expressed his agreement with both sides and was pleased that there are good candidates supported by arguments for their use in their context, allowing for finance customs and everyday use.
Updated on: 2023-06-08T20:08:22.753791+00:00