Author: Chris Pacia 2014-03-13 15:37:56
Published on: 2014-03-13T15:37:56+00:00
In this email exchange from March 13, 2014, Tamas Blummer, the founder and CEO of Bits of Proof, expresses his support for the name "bit" as a unit for 100 satoshi. He agrees with Jeff's argument that existing financial applications have problems dealing with more than two decimals, and people in finance are used to working with two decimals. However, he notes that neither systems nor people in finance have issues dealing with large numbers. Blummer believes that using "bit" as a unit will alleviate some of the practical challenges associated with using Bitcoin in finance. The email exchange occurred on the Bitcoin-development mailing list. Additionally, the email includes a promotional message about a free book download on graph databases.
Updated on: 2023-06-07T20:36:01.847295+00:00