It's bits. - page 2. | Bitcointalksearch.org

solomon

full member

Activity: 120

Merit: 100

Quote from: 12648430 on November 28, 2013, 08:59:19 PM

Spending thousands of bits on small things will remind people of currencies that have been hyperinflated.

Besides, we already send plenty of bits and kbits over the internet; it would be confusing to try to reappropriate such a word.

In what way? What is an example of how bitcoin bits could be confused with informational bits?

sveetsnelda

hero member

Activity: 642

Merit: 500

Quote from: 12648430 on November 28, 2013, 08:59:19 PM

Besides, we already send plenty of bits and kbits over the internet; it would be confusing to try to reappropriate such a word.

^This. I can already imagine the conversations I'd be having with people who are confusing "bits" and "bits" with each other since they'd both be computer related.

12648430

full member

Activity: 144

Merit: 100

Spending thousands of bits on small things will remind people of currencies that have been hyperinflated.

Besides, we already send plenty of bits and kbits over the internet; it would be confusing to try to reappropriate such a word.

Siegfried

sr. member

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Merit: 250

I like it.

2_Thumbs_Up

sr. member

Activity: 323

Merit: 251

I know. The suggestion is to call 100 satoshis a bit. That way there are 1000,000 bits in a BTC, and the current exchange rate would be ~1000 bits/USD.

The idea is that all the other naming schemes are simply to complicated. It's also wierd and confusing for a lot of people to have the most basic unit (BTC) at such a high valuation. With this suggestion, a bit would become the base unit in everyday speech, while a bitcoin remains what it is today.

Read the OP. He makes a very good case for the naming scheme he suggests.

humanpsychedelic

newbie

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Merit: 0

0.00000001 BTC = 1 satoshi

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sr. member

Activity: 323

Merit: 251

I saw this post on reddit. All credits to original OP.

http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/

I couldn't agree with this post anymore. The SI-prefixes simply aren't catching on, even though I've seen people pushing for them for 2+ years and the fact that mBTC has been somewhat useful for about 1 year.

A "bit" is a simple memorable one-syllable word that has the possibility to catch on. Can we agree on something that works?

Topic: It's bits. - page 2. (Read 1950 times)