Author: Andreas Schildbach 2014-03-14 14:49:40
Published on: 2014-03-14T14:49:40+00:00
The debate on what unit of measurement to use for Bitcoin has been a topic of discussion for some time. Andreas Schildbach, the developer of Bitcoin Wallet, stated that users were not complaining about confusion due to the switch to mBTC. In contrast, he received many inquiries when exchange rates differed more than 10%. However, Tamas Blummer, the CEO of Bits of Proof, argued that Bitcoin would have a better chance of being perceived as its currency if it had prices and fractions similar to other currencies. He suggested that 3558 bits would be more accepted than 3.558 mBTC or 0.003578 BTC.Jeff Garzik, a Bitcoin core developer, and open-source evangelist, suggested moving straight to uBTC because humans and existing computer systems handle numbers to the left of the decimals better than the opposite. Wendell, from Grabhive.com, agreed with Jeff Garzik, writing that they are with uBTC too. Gary Rowe, the developer of MultiBit HD, explained that the wallet offers a simple configuration panel allowing users to customize the presentation issue based on their locale-sensitive preferences. The NIST guidelines for representation of SI unit symbols apply to MultiBit HD.In conclusion, while Andreas Schildbach believes that Bitcoin's users care more about the amount in local currency than the Bitcoin price, Tamas Blummer and Jeff Garzik argue that using a unit of measurement similar to other currencies would increase Bitcoin's perception as a currency of its own. Meanwhile, Gary Rowe's MultiBit HD allows users to tailor Bitcoin units to their locale-sensitive preferences.
Updated on: 2023-06-07T20:26:42.744881+00:00