Author: Ricardo Filipe 2014-03-14 16:51:14
Published on: 2014-03-14T16:51:14+00:00
In March 2014, a discussion on Bitcoin units of measurement took place involving several members of the Bitcoin community. Andreas Schildbach of Bitcoin Wallet had moved the standard to mBTC several weeks prior to this discussion. Jeff Garzik argued in favor of using uBTC instead of mBTC as it was more familiar for users and could be easily handled by humans and existing computer systems. Mark Friedenbach suggested relabeling uBTC to a new three-digit symbol to allow for full compliance with accounting software packages that did not handle SI notation very well, particularly sub-unit prefixes. Alex Morcos proposed relabeling 100 satoshis to a new unit with a proper 3-letter code, allowing people using mBTC to switch to using Kbits at the same nominal price. Tamas Blummer expressed his preference for Bitcoin prices and fractions to be represented similarly to currencies. In general, there was no culturally-neutral common standard for currency and pricing. Accounting software that did not handle more than two decimal places gracefully gave technical justifications for moving to either uBTC or accounting in Satoshis directly. It was argued that changes such as these could be made by a few big players and/or the Bitcoin Foundation.The Bitcoin-development mailing list is available at lists.sourceforge.net. The mailing list provides information about Bitcoin development and its latest updates. The list also includes a link to a free O'Reilly book called "Graph Databases" which is a guide to graph databases and their applications. The book is written by three acclaimed leaders in the field and the first edition is now available for download. Anyone who wants to stay up-to-date on Bitcoin development can join the mailing list and receive regular updates.
Updated on: 2023-06-07T20:21:23.156885+00:00