Author: Tyler 2014-03-14 15:10:09
Published on: 2014-03-14T15:10:09+00:00
The debate over Bitcoin denomination continues as some believe that offering mBTC or microbitcoin is too hard to interpret and people would rather view local currency. Others argue that it doesn't matter what denomination is used, as long as it is standardized and has a clear system of differentiation. The problem with millibitcoin and microbitcoin is that they are difficult to say out loud and both start with the letter "m." Additionally, even Bitcoin itself is not easy to say. A proposed solution is to have a system like one ham equals 1000 bits, one bacon equals 1000 hams, where each quantity has a differentiable name that is easy to say. However, these common names will likely develop naturally and differ between regions. Thus, people should be given options in their settings to transact on their own terms. It is suggested to restrict the settings to BTC milli and micro to nudge people towards understanding the standardization.
Updated on: 2023-06-07T20:46:27.037135+00:00