Topic: Proposal for mass adoption: the introduction of a new unit of account - page 2. (Read 354 times)
August 15, 2023, 05:32:15 PM
As units of 100 satoshis are not used anywhere, I don't think it will catch on. But if it does, feel free to take credit.
August 15, 2023, 05:30:45 PM
Bitcoin is a universal system, we need to find another word for 100 sat 
What's wrong with µBTC or microBTC? It's a part of the universal SI system.
Also, it's not accurate to say that in the SI system everything is just a multiple of 1,000, since we also have deka and hecto, as well as deci and centi. So, we can refer to 100 satoshis as 1 hectosat.
August 15, 2023, 02:38:16 PM
yes, I'm not exactly a newbie :-)
If there's already a debate between sat and bit, it's obvious, according to this paper, that we should go for bit. Talking in sat is strictly pointless in view of the arguments deployed in the article.
Maybe Nakamoto isn't a good idea, and we need to find another one. But the term "bit" doesn't stand out enough from "bitcoin". We need to find something different, and above all, use it.
Some of the ideas that backs bitcoin is the consensus about the ideology it portrays and I feel the day we start seeing changes such as the proposed, that’ll be the day you introduce doubt into the system on decentralization as people largely aren’t going to be okay with this and the system is just good as it is. There isn’t any need for a book of account on it.If there's already a debate between sat and bit, it's obvious, according to this paper, that we should go for bit. Talking in sat is strictly pointless in view of the arguments deployed in the article.
Maybe Nakamoto isn't a good idea, and we need to find another one. But the term "bit" doesn't stand out enough from "bitcoin". We need to find something different, and above all, use it.
Bitcoin seeks to be considered on its own and not having its value to be defined by fiat.
Quote
The current and future exchange rates with the main FIAT currencies would then be of the same order of magnitude: with $1 = 34 Nk at present, and why not, with time, a move towards an exchange rate close to parity: $1 ≈ 1 Nk.
While this proposal might seem rational at the time of typing, you could as well recall that bitcoin is highly volatile and the values at which the conversion rate would be equated will continue to have some real sudden changes. That’s not the sort of thing we hope to see. The bitcoin and Satoshi or mBtc as we’ve got is okay for any conversion rate. August 15, 2023, 02:34:52 PM
Nakamoto sounds decent because we have Satoshis, but the shortcut "naks" sounds awful. But I don't like "bits" either as "bits" is already a common word that could mean either something like "smaller bits" or "bits" as in with relation to memory.
you're right, the word bit is already used in electronics or for memory.
I'd just like to make one important point. In French, bit means cock. Which means that the French-speaking world will never be able to use this word to talk about a currency.
With the development of Africa, some studies show that by 2050, French will be more widely spoken than English in the world.
Bitcoin is a universal system, we need to find another word for 100 sat
August 15, 2023, 02:20:58 PM
It's not really a new one, though. They just found a rather long-winded way to propose renaming "bits" to "nakamotos". Sounds worse to me. Imagine some crappy infomercial and they say:
"Only 39 naks and 99 sats, plus shipping and handling".
"Naks" just sound weird. "Bits" is more recognisable and memorable.
"Only 39 naks and 99 sats, plus shipping and handling".
"Naks" just sound weird. "Bits" is more recognisable and memorable.
Well yea, didn't notice that lol.
Nakamoto sounds decent because we have Satoshis, but the shortcut "naks" sounds awful. But I don't like "bits" either as "bits" is already a common word that could mean either something like "smaller bits" or "bits" as in with relation to memory.
Eitherway, I'm not a fan of using either. Sats all the way.
August 15, 2023, 02:16:59 PM
I noticed it is a newbie account making this proposals and I think the face behind this proposals is not a newbie as we think it to be because a newbie can barely come up with such proposals at such early stage for a change or inclusions but I am still curious about it.
OP your proposal is quite alright but I think it would require much deliberation from the community and to be frank reaching a resolve would definitely take time as I see this as it looks unrealistic and unnecessary.
OP your proposal is quite alright but I think it would require much deliberation from the community and to be frank reaching a resolve would definitely take time as I see this as it looks unrealistic and unnecessary.
yes, I'm not exactly a newbie :-)
If there's already a debate between sat and bit, it's obvious, according to this paper, that we should go for bit. Talking in sat is strictly pointless in view of the arguments deployed in the article.
Maybe Nakamoto isn't a good idea, and we need to find another one. But the term "bit" doesn't stand out enough from "bitcoin". We need to find something different, and above all, use it.
August 15, 2023, 01:58:56 PM
I noticed it is a newbie account making this proposals and I think the face behind this proposals is not a newbie as we think it to be because a newbie can barely come up with such proposals at such early stage for a change or inclusions but I am still curious about it.
OP your proposal is quite alright but I think it would require much deliberation from the community and to be frank reaching a resolve would definitely take time as I see this as it looks unrealistic and unnecessary.
OP your proposal is quite alright but I think it would require much deliberation from the community and to be frank reaching a resolve would definitely take time as I see this as it looks unrealistic and unnecessary.
August 15, 2023, 01:17:32 PM
Not necessarily against a new unit of account, but this is unnecessary. The Bitcoin community can't even decide upon what unit of account should be used (it's sats vs bits), and we're going to introduce a new one?
It's not really a new one, though. They just found a rather long-winded way to propose renaming "bits" to "nakamotos". Sounds worse to me. Imagine some crappy infomercial and they say:
"Only 39 naks and 99 sats, plus shipping and handling".
"Naks" just sound weird. "Bits" is more recognisable and memorable.
August 15, 2023, 12:58:00 PM
Not necessarily against a new unit of account, but this is unnecessary. The Bitcoin community can't even decide upon what unit of account should be used (it's sats vs bits), and we're going to introduce a new one?
August 15, 2023, 12:09:38 PM
Hi everyone,
Here's a proposal in the form of an article: https://media.licdn.com/dms/document/media/D4E1FAQHNFspwYr2bHQ/feedshare-document-pdf-analyzed/0/1692210247829?e=1692835200&v=beta&t=jmq9iAAs6j94GCW0fgq5kcn3Wug2VANV1X17hv9uDMg
What do you think about it?
Thanks
Chris
Here's a proposal in the form of an article: https://media.licdn.com/dms/document/media/D4E1FAQHNFspwYr2bHQ/feedshare-document-pdf-analyzed/0/1692210247829?e=1692835200&v=beta&t=jmq9iAAs6j94GCW0fgq5kcn3Wug2VANV1X17hv9uDMg
What do you think about it?
Thanks
Chris
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