Author: Un Ix 2014-03-14 01:26:19
Published on: 2014-03-14T01:26:19+00:00
The discussion revolves around the unit of measurement for Bitcoin transactions. Some people are advocating for a change from uBTC to mBTC because every volatility bump messes up expectations of what Bitcoin is worth and they believe that switching to mBTC will make it easier for people to understand the value of Bitcoin. One person, however, believes that making such a change so soon after Mt Gox debacle would be one more sign of Bitcoin's instability for skeptics and average folk who read only headlines.BitPay was headed towards uBTC internally, and hoped to coordinate messaging and rollout with others in the community. However, they have decided to move forward with mBTC instead, which has already been adopted by some exchanges and price sites. Moving to muBTC would require more coordinated education effort, but it could be the final unit change ever needed without a hard fork.There seems to be no consensus on the unit of measurement for Bitcoin transactions, and even those who agree that a decimal shift would be good cannot agree on how many decimals to use. While some believe that a switch to mBTC will make it easier for people to understand the value of Bitcoin, others think that switching units so soon after the Mt Gox debacle will only add to Bitcoin's perceived instability. Multiple unit changes negatively impact users, but they may be necessary in order to ensure that Bitcoin remains easy to understand and use.
Updated on: 2023-06-07T20:26:14.317104+00:00