Topic: HAVELOCK - Switching to bits? (Read 2870 times)

Quote from: rethink-your-strategy on May 14, 2014, 06:46:21 PM

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

Anyone who doesn't know metric prefixes will not know what a bit is. Why introduce an arbitrary definition when the metric system or satoshis work perfectly fine? Seems like adding difficulty to me.

Well, people like this idea of what is "easier." The fact that milli and micro are even PART of the word turns people away because it turns into science. At the end of the day we're not going to be able to cater to everyone. For me, I can simply remember that a "bit" is a uBTC. It's not a huge deal for me either way. It does bring up a question, though... would it be like:

Bit (uBTC)
Megabit (mBTC)
Gigabit (BTC)

Or what? *That* is where it gets confusing.

Looks to me like bits would be a wise move, when even long time forum members with 2k+ posts, don't know the metric system..

Bits (uBTC)
KiloBits (mBTC)
MegaBits (BTC)

would be the correct names

Good catch! For some reason I was thinking it'd be bits, then megabits would be million satoshi (and I have no idea how I came up with that being 0.001 BTC when it'd really be 0.01 BTC if we were talking about satoshi) and gigabit being billion satoshi (which would be 10 BTC if we were talking about satoshi instead of bits). This is what happens when you don't think!

I guess it does bring up a point: we need an easier to understand method to run these.

While I think an arbitrary naming system is somewhat bad, it does help in the sense that it gives a *different* name to each. mBTC, uBTC, etc. are all very much alike. Scraps vs Dust vs Starlight, for example, is clearly different.

Either way this is going to be a complex problem since people are on both sides.

Edit: FWIW, I'm from the US, too. We don't use metric here; we use imperial, :p. You should be happy I even know what metric means!

jimmothy

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How about Jimmothies? It can be more or less equal to the amount of money you're worth, so we can peg it at 3 Satoshi to the Jimmothy and be done with it

Bits are fine, nigga, they're no more arbitrary than `Dollars` and `Cents`

Cent is arbitrary? Dollars is the name of the currency not a unit.

rethink-your-strategy

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Quote from: jimmothy on May 14, 2014, 06:26:43 PM

Quote from: rethink-your-strategy on May 14, 2014, 06:21:16 PM

Quote from: ranlo on May 14, 2014, 11:52:09 AM

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

I have no problem with bits. Not because I can't figure out the value of the prefix but because I shouldn't fucking have to. mBTC and MBTC and uBTC and yourmotherBTC all have their place, but an exchange should be unconfusing for a trader at first look.

How is introducing an arbitrary definition less confusing than a metric prefix?

Should we introduce other arbitrary units of measurements? What about bitpieces(100 bits) or bitscraps (25 bitpieces) or bitdust (1/100 bitpieces)?

How about Jimmothies? It can be more or less equal to the amount of money you're worth, so we can peg it at 3 Satoshi to the Jimmothy and be done with it

Bits are fine, nigga, they're no more arbitrary than `Dollars` and `Cents`

scryptographer

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Quote from: jimmothy on May 14, 2014, 03:43:49 AM

Quote from: rethink-your-strategy on May 14, 2014, 06:21:16 PM

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

Anyone who doesn't know metric prefixes will not know what a bit is. Why introduce an arbitrary definition when the metric system or satoshis work perfectly fine? Seems like adding difficulty to me.

Well, people like this idea of what is "easier." The fact that milli and micro are even PART of the word turns people away because it turns into science. At the end of the day we're not going to be able to cater to everyone. For me, I can simply remember that a "bit" is a uBTC. It's not a huge deal for me either way. It does bring up a question, though... would it be like:

Bit (uBTC)
Megabit (mBTC)
Gigabit (BTC)

Or what? *That* is where it gets confusing.

Looks to me like bits would be a wise move, when even long time forum members with 2k+ posts, don't know the metric system..

Bits (uBTC)
KiloBits (mBTC)
MegaBits (BTC)

would be the correct names

jimmothy

hero member

Activity: 770

Merit: 509

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

I have no problem with bits. Not because I can't figure out the value of the prefix but because I shouldn't fucking have to. mBTC and MBTC and uBTC and yourmotherBTC all have their place, but an exchange should be unconfusing for a trader at first look.

How is introducing an arbitrary definition less confusing than a metric prefix?

Should we introduce other arbitrary units of measurements? What about bitpieces(100 bits) or bitscraps (25 bitpieces) or bitdust (1/100 bitpieces)?

rethink-your-strategy

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Activity: 173

Merit: 182

Quote from: jimmothy on May 14, 2014, 03:43:49 AM

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

I have no problem with bits. Not because I can't figure out the value of the prefix but because I shouldn't fucking have to. mBTC and MBTC and uBTC and yourmotherBTC all have their place, but an exchange should be unconfusing for a trader at first look.

ranlo

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Activity: 1988

Merit: 1007

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

Anyone who doesn't know metric prefixes will not know what a bit is. Why introduce an arbitrary definition when the metric system or satoshis work perfectly fine? Seems like adding difficulty to me.

Well, people like this idea of what is "easier." The fact that milli and micro are even PART of the word turns people away because it turns into science. At the end of the day we're not going to be able to cater to everyone. For me, I can simply remember that a "bit" is a uBTC. It's not a huge deal for me either way. It does bring up a question, though... would it be like:

Bit (uBTC)
Megabit (mBTC)
Gigabit (BTC)

Or what? *That* is where it gets confusing.

NotLambchop

sr. member

Activity: 378

Merit: 254

Quote from: pedrog on May 08, 2014, 03:56:22 PM

...
Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

We must make Havelock accessible to people without elementary school education because not enough greater fools Cool

freedomno1

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Learning the troll avoidance button :)

Make both options available for users, some of us are quite comfortable with decimal numbers.

I agree would prefer to have multiple panels one that uses mbtc and one that uses BTC that way I can change between them depending on the asset.

jimmothy

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Activity: 770

Merit: 509

Quote from: jimmothy on May 14, 2014, 03:22:11 AM

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

Anyone who doesn't know metric prefixes will not know what a bit is. Why introduce an arbitrary definition when the metric system or satoshis work perfectly fine? Seems like adding difficulty to me.

ranlo

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Activity: 1988

Merit: 1007

Quote from: shawshankinmate37927 on May 13, 2014, 03:49:29 PM

[X] Allow the user to choose BTC, mBTC, or µBTC.

+1

+1

Bits seems like a counterintuitive solution to a non-problem. I'd rather stick to metric prefixes anyone can understand.

The issue here is the vast majority of people dealing with cryptos don't know what micro and milli mean. I can't count the number of times people look at me dumbfounded because they can't convert between the amounts because they don't know basic conversion. Anyone who has been to elementary school should already know the meaning of micro/milli, but sadly that just isn't the case. "Bit" takes away this "difficulty" people often have with trying to figure out the values.

jimmothy

hero member

Activity: 770

Merit: 509

Quote from: shawshankinmate37927 on May 13, 2014, 03:49:29 PM

Quote from: _mr_e on May 08, 2014, 11:33:22 AM

[X] Allow the user to choose BTC, mBTC, or µBTC.

+1

+1

Bits seems like a counterintuitive solution to a non-problem. I'd rather stick to metric prefixes anyone can understand.

ranlo

legendary

Activity: 1988

Merit: 1007

I absolutely hate that some of your lower priced securities like CBTC always show .0001 when in reality there is a huge difference from .0001 and .0002 that does not get displayed. This would be an excellent change.

This is soooo true. I've run into that issue many times. The switch to bits would help change that, and it would also allow for more exact numbers. Even 0.00018 is very different from 0.00009. Erm, rather 90b vs 180b (I think is the right measurement?).

jimbobway

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I support bits. If dogecoin can handle big numbers so can we.

twentyseventy

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Quote from: fluffypony on May 13, 2014, 05:11:36 PM

Quote from: shawshankinmate37927 on May 13, 2014, 03:49:29 PM

[X] Allow the user to choose BTC, mBTC, or µBTC.

+1

-0.3 +0.15%

-109 | 1.92 ?

fluffypony

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Quote from: shawshankinmate37927 on May 13, 2014, 03:49:29 PM

Quote from: shawshankinmate37927 on May 13, 2014, 03:49:29 PM

[X] Allow the user to choose BTC, mBTC, or µBTC.

+1

-0.3 +0.15%

joele

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Activity: 1022

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[X] Allow the user to choose BTC, mBTC, or µBTC.

+1

shawshankinmate37927

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Bitcoin: The People's Bailout