Author: Un Ix 2014-05-04 06:23:08
Published on: 2014-05-04T06:23:08+00:00
In an email exchange on the Bitcoin-development mailing list, several members discuss the use of the term "bit" in relation to Bitcoin. Chris Pacia argues that the term is just a shortened version of "millibits" and therefore is an appropriate unit of measurement for Bitcoin. He also notes that the word "bit" symbolically represents the technological aspect of Bitcoin, which was built upon computer science principles. Additionally, he points out that the name references both the gold standard and the fact that "bit" used to be a unit of money.While some members agree with Pacia's argument, others are concerned about the potential for confusion among those who don't have a strong understanding of computer science or Bitcoin. Christophe Biocca argues that Bitcoin already has many confusing terms, such as "mining," "addresses," and "wallets," and adding another could further complicate things for the average person. Mike Caldwell suggests that using clear language is important for marketing purposes, as it can help communicate the benefits of Bitcoin to a wider audience.Ultimately, the group seems to agree that the use of "bit" as a unit of measurement for Bitcoin is appropriate, but there is some concern about how it may be perceived by those outside of the tech industry.
Updated on: 2023-06-08T20:11:45.901707+00:00