Author: Troy Benjegerdes 2014-03-13 16:17:53
Published on: 2014-03-13T16:17:53+00:00
In a discussion about whether to use millibitcoins (mBTC) or microbitcoins (uBTC) as the standard unit of account for Bitcoin, Mike Hearn argued that the decision had already been made and that mBTC was the better option because it was a unit people encounter in daily life. He also suggested that the decision was not as important as indexing the money supply to some blockchain-observable value and adding demurrage. Jeff Garzik disagreed, arguing that community coordination was preferred to random apps making random decisions. The discussion also touched on the idea that more than two decimal places tends to violate the Principle Of Least Astonishment with many humans, and that some financial packages can't handle fractional pennies. In the end, the conversation turned to the potential uses for Bitcoin at gas stations, where an app that would tell users which gas station got them the best miles per bitcoin based on their desired destination.
Updated on: 2023-06-07T20:22:43.192068+00:00