Author: Aaron Voisine 2014-05-03 01:50:15
Published on: 2014-05-03T01:50:15+00:00
The discussion is about the unit switch for Bitcoin from BTC to "bits", where 1 "bit" is equivalent to 1 microbitcoin or 0.000001 BTC. The idea is to have a joint effort among BitPay, Coinbase, Blockchain and Bitstamp to agree on using "bits" as the default unit for all apps and services. Alan Reiner, the developer of Armory wallet, supports this idea and plans to prioritize a release that updates the Armory interface to make "bits" the default unit when the time is right. However, Ben Davenport suggests not attaching SI prefixes to the currency unit and instead using one base unit that is not modified with SI prefixes, such as 100 satoshis. It will also be important to choose the currency symbol for "bits," with the lowercase stroke "b" being the obvious choice, represented by Unicode U+0180. For a transient period of approximately six months, all input boxes will auto-update nearby labels with the converted-to-BTC value as they type, and all displayed BTC values will show both. The 1e-6 unit will always be the default or first unless explicitly changed in the interface.
Updated on: 2023-06-07T20:31:56.772912+00:00