Author: Tamas Blummer 2014-03-14 15:12:45
Published on: 2014-03-14T15:12:45+00:00
In an email exchange between Tamas Blummer and Andreas Schildbach on the Bitcoin-development mailing list, Blummer expressed his belief that defining Bitcoin units with more than two decimals is confusing to the majority of the population and financial software. He suggested that using 1 bit = 100 satoshi would be a better solution. Schildbach asked if he was lobbying for mBTC instead, but Blummer reiterated that it was about the form of a price, not the magnitude. Blummer went on to say that Bitcoin would have a better chance of being perceived as its own currency if it had prices and fractions like other currencies. He argued that 3.558 mBTC or 0.003578 BTC will never be as accepted as 3558 bits would be. Schildbach responded by saying that none of Bitcoin Wallet's users complained about confusion because of the mBTC switch and that it's the amount in local currency that matters to users.
Updated on: 2023-06-07T20:35:34.541841+00:00