Published on: 2014-05-05T22:33:37+00:00
In an email thread from April 2014, the Bitcoin development mailing list discussed possible names for smaller units of bitcoin. Mike Caldwell suggested "bit" as a short, memorable, and pronounceable option. However, it was noted that "bit" phonetically collides with slang for phallus in French and means "louse" in Turkish. Justin A proposed "ubit," pronounced "YOU-bit," representing 1e-6 bitcoin, which ties visually to the metric micro and leaves the required 2 decimal places. The discussion also considered using a letter before "bit," such as "ebit" or "xbit," the latter being XBT. Despite these suggestions, some believed that no term for smaller units had yet established itself.The conversation focused on finding a culturally neutral term for a unit representing 1e-6 bitcoin. The suggestion of "ubit" was made, but concerns were raised about the pronunciation and potential confusion with the term "XBT." Culturally neutral names were preferred to avoid invoking specific cultural references. It was pointed out that "bit" has conflicting meanings in different languages. Some participants believed that terms for smaller units would arise naturally over time. The email also included information on joining the Bitcoin development mailing list and a link to a free book on graph databases.The discussion emphasized the importance of finding a culturally neutral name for smaller units of bitcoin. Suggestions included "ubit" pronounced as "you-bit," which tied visually to the metric micro. Concerns were raised about using the term "bit" due to its conflicting meanings in different languages. It was mentioned that terms for smaller units would likely establish themselves over time. Additionally, a link to a free book on graph databases was provided.The email conversation highlighted the need for a culturally neutral term for smaller units of bitcoin. The discussion included suggestions such as "ubit" pronounced as "you-bit," which tied visually to the metric micro. Concerns were raised about the conflicting meanings of "bit" in different languages. The importance of avoiding cultural references in the name was emphasized. The conversation also included information on joining the Bitcoin development mailing list and a link to a free book on graph databases.The discussion revolved around finding a culturally neutral term for smaller units of bitcoin. Suggestions included "ubit" pronounced as "you-bit," which tied visually to the metric micro. Concerns were raised about the conflicting meanings of "bit" in different languages. Some participants believed that terms for smaller units would arise naturally over time. The email also included a link to a free book on graph databases and information on joining the Bitcoin development mailing list.The discussion on Bitcoin denominations has been ongoing since 2013, with suggestions for alternative units such as XBT and bits. Some members of the community support the idea of using "bits" as a new unit of measurement for Bitcoin, while others have concerns about the term being too overloaded. Armory, a Bitcoin wallet, has started integrating alternative units, but more work is needed. Alan Reiner, the founder of Armory, supports the use of "microbitcoin" as a default unit but is unsure about the name "bits." Tamas Blummer suggests taking the discussion to wallet developers rather than engineers. Rob Golding proposes offering users the option to denominate Bitcoin currency in a unit called a bit, where one bitcoin equals one million bits and one bit equals 100 satoshis.The email thread among members of the Bitcoin-development mailing list discusses the proposal to introduce a new unit of account called "bits." The proposal suggests that one bitcoin would equal one million bits and one bit would equal 100 satoshis. Some members express concern about introducing a new prefix, while others argue that it may not be necessary given the existing divisions in u/mBTC. There are also concerns about confusion for average users and potential errors in transactions. Tamas Blummer suggests bringing the discussion to wallet developers, and Rob Golding recommends using satoshis instead of bits for simplicity.The discussion highlights the divergent views within the Bitcoin community regarding changes to the system. Some believe convention changes should apply to all clients, while others argue that these discussions should involve wallet developers. Ultimately, any decision on denomination would require consensus among stakeholders in the Bitcoin ecosystem.The proposal to denominate Bitcoin currency in units called bits has sparked debate among Bitcoin developers. Some argue that the term "bit" is already used in computer science and could cause confusion. Others suggest that people can choose other divisions if they prefer or use satoshis for simplicity. The discussion includes suggestions to bring the topic to wallet developers and concerns about potential errors in transactions.To address the issue of decimal problems in Bitcoin transactions, a proposal has been made to introduce a new unit called "bit." One bitcoin would equal one million bits, and one bit would equal 100 satoshis. This proposal aims to simplify the process and make it easier for users to understand.
Updated on: 2023-08-01T08:50:32.136441+00:00