Author: Chris D'Costa 2014-04-23 11:48:14
Published on: 2014-04-23T11:48:14+00:00
The email chain is discussing the issue of the use of units in Bitcoin, specifically the similarity between BTC, mBTC, and µBTC, which can lead to misunderstandings. The founder and CEO of Bits of Proof suggests using a single unit called satoshis, which is easily remembered and associated with no smaller than 1/100 fractions. On the other hand, Danny Hamilton believes that since most wallets display amounts in µBTC quantities, it will be obvious that a µBTC is a different magnitude than a BTC, thus solving the problem. He also suggests that nicknames such as milly or mike can be used for mBTC and µBTC. In the midst of this discussion, Chris D'Costa presents an off-beat suggestion that perhaps Satoshi's intention was not decimal but rather based on old English money measuring system, where 1 guinea equals 21 shillings, and 1 million guineas is equivalent to 21 million shillings or bitcoins. Old English money has a funny mix of decimal and imperial measures, which may have some interesting properties, such as having multiple names for overlapping layers.
Updated on: 2023-06-08T20:08:55.584293+00:00