Author: Melvin Carvalho 2014-03-13 16:39:00
Published on: 2014-03-13T16:39:00+00:00
In an email exchange on March 13, 2014, Mike Hearn and Jeff Garzik discussed the use of millibits (mBTC) as a unit of account for Bitcoin. Hearn argued that using mBTC made sense since it is a unit people encounter in daily life, whereas microbits (uBTC) or nanobits (nBTC) may be too small for ordinary users to understand. He also noted that wallets are free to suppress more than two decimal places, and users can choose their preferred precision. Garzik agreed with Hearn and added that bitcoinity had already switched to mBTC and received positive feedback from users. Additionally, he cited Gavin Andresen's suggestion that the community comes to a consensus on units through implementations rather than top-down decision making. The discussion concluded with both agreeing that it was up to wallet maintainers to decide whether to switch the default unit of account.
Updated on: 2023-06-07T20:23:00.708592+00:00