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Question: Should "bits" become the standard for merchant pricing, wallets and general usage.
Bitcoin best as the common unit. 0.001234 is ok - 108 (14.1%)
milliBitcoins (thousandths) are best - 90 (11.7%)
Bits (millionths) are best - 570 (74.2%)
Total Voters: 768

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Author Topic: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE  (Read 56242 times)
phillipsjk
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June 23, 2014, 04:30:52 PM
 #441

I suspect that as with many things, the Americans will use their quirky unit, while the rest of the world will simply use the metric system.

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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin-Qt, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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June 23, 2014, 06:28:37 PM
 #442

Congratulations! Smiley

http://blog.coinbase.com/post/89405189782/its-bits

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June 23, 2014, 10:21:57 PM
 #443


Uhm, hate to say it, but you're about 4 days too late Wink
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June 23, 2014, 11:02:55 PM
 #444


Uhm, hate to say it, but you're about 4 days too late Wink

Coinbase's newsletter is about 4 days late.

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June 23, 2014, 11:06:58 PM
 #445

I suspect that as with many things, the Americans will use their quirky unit, while the rest of the world will simply use the metric system.


I vote for the banana scale
serje
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August 02, 2014, 06:22:51 PM
 #446

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

franky1
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August 02, 2014, 06:29:24 PM
 #447

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

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Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
serje
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August 02, 2014, 06:30:21 PM
 #448

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

Seriously why can't he give me a qr code to scan?Huh

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August 02, 2014, 06:42:49 PM
 #449

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

Problem is with a name on every decimal he would have to say "thats 2 whateverdecimalname 4whateverdecimalname 5 whateverdecimalname 1 whateverdecimalname and 2 sats" to be acurate
serje
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August 02, 2014, 06:45:04 PM
 #450

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

Problem is with a name on every decimal he would have to say "thats 2 whateverdecimalname 4whateverdecimalname 5 whateverdecimalname 1 whateverdecimalname and 2 sats" to be acurate

I think it will be easier for everyone to know that there are 8 numbers after decimal point .... rather than converting a lot of stuff ...


franky1
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August 02, 2014, 07:19:08 PM
 #451

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

Problem is with a name on every decimal he would have to say "thats 2 whateverdecimalname 4whateverdecimalname 5 whateverdecimalname 1 whateverdecimalname and 2 sats" to be acurate

I think it will be easier for everyone to know that there are 8 numbers after decimal point .... rather than converting a lot of stuff ...


ask a friend to try and remember:
zero point zero zero zero two four five point one two

and then ask another friend to try and remember
two hundred and fourty five point twelve

wait 3 hours. and ask them to tell you what they can remember. repeat th test 10 times on different people or swap the two people around offering them different numerics, but in same formats and you will find the people offered the numbers in bits format will hear it, understand/interpret it easier to be able to remember. meaning bit format as oppose to multiple decimal, is easier to handle

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
nahtnam
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August 02, 2014, 07:25:06 PM
 #452

What's wrong with the 0.00024512BTC option?

I like it this way ... because it's easier to know how much we are talking about ... you just need to see if there are 8 numbers after period ... not like other sites that use 11 numbers after period ....

you at a bar and after your 6th pint the barman says "that will be zero point zero zero zero two four five one two please"
. you try typing in 0.00024512 blurred vision so you cant really count the number of 0 you typed into your phone. also when the barman is trying to shout over the loud music the total.. did you hear him should 3 or 4 zero's. was the four before or after the five.


now imagine it "thats two hundred and fourty five bits and 12sats"
instead of typing in 245.12

Problem is with a name on every decimal he would have to say "thats 2 whateverdecimalname 4whateverdecimalname 5 whateverdecimalname 1 whateverdecimalname and 2 sats" to be acurate

I think it will be easier for everyone to know that there are 8 numbers after decimal point .... rather than converting a lot of stuff ...


ask a friend to try and remember:
zero point zero zero zero two four five one two please

and then ask another friend to try and remember
two hundred and fourty five point twelve

wait 3 hours. and ask them to tell you what they can remember. repeat th test 10 times on different people or swap the two people around offering them different numerics, but in same formats and you will find the people offered the numbers in bits format will hear it, understand/interpret it easier to be able to remember. meaning bit format as oppose to multiple decimal, is easier to handle

I am actually with serje. I dont think the bartender is actually going to say anything. IRL he would probably generate a QR code on the phone/computer and tell the customer to scan it. The customer can then just check to make sure its roughly correct and send the money.

franky1
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August 02, 2014, 07:59:00 PM
 #453

I am actually with serje. I dont think the bartender is actually going to say anything. IRL he would probably generate a QR code on the phone/computer and tell the customer to scan it. The customer can then just check to make sure its roughly correct and send the money.

ok you people ignore the technology of bitcoin. my analogy is about the ease of understanding numbers, again which is easier to say, to be heard, to understand AND/OR be read

ignore it being bitcoin. lets say you are having a conversation with someone and they owe you gold, carrots, potato's whatever

is it easier to say
0.00024512 of a tonne of gold
or
245.12 bits of gold

for the recipent. if he is being told by someone, is it easier to HEAR
0.00024512 of a tonne of gold
or
245.12 bits of gold

and for typing on a keyboard is it easier to TYPE

0.00024512 of a tonne of gold
or
245.12 bits of gold

and for transacting, is it easier to transact
0.00024512 of a thousand dollar bill
or
245.12 bits a micropenny

as for the drunk customer and the bar scenario, if the drunk man was to only receive a QR code and try to read the screen to check that the value seems right. which is easier to read with blurred vision
0.00024512 bitcoin
or
245.12 bits

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
Bitcoin Hitter
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August 02, 2014, 09:40:30 PM
 #454

I am actually with serje. I dont think the bartender is actually going to say anything. IRL he would probably generate a QR code on the phone/computer and tell the customer to scan it. The customer can then just check to make sure its roughly correct and send the money.

ok you people ignore the technology of bitcoin. my analogy is about the ease of understanding numbers, again which is easier to say, to be heard, to understand AND/OR be read

ignore it being bitcoin. lets say you are having a conversation with someone and they owe you gold, carrots, potato's whatever

is it easier to say
0.00024512 of a tonne of gold
or
245.12 bits of gold

for the recipent. if he is being told by someone, is it easier to HEAR
0.00024512 of a tonne of gold
or
245.12 bits of gold

and for typing on a keyboard is it easier to TYPE

0.00024512 of a tonne of gold
or
245.12 bits of gold

and for transacting, is it easier to transact
0.00024512 of a thousand dollar bill
or
245.12 bits a micropenny

as for the drunk customer and the bar scenario, if the drunk man was to only receive a QR code and try to read the screen to check that the value seems right. which is easier to read with blurred vision
0.00024512 bitcoin
or
245.12 bits

interesting but from money come from ?
serje
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August 02, 2014, 09:42:26 PM
 #455

I am actually with serje. I dont think the bartender is actually going to say anything. IRL he would probably generate a QR code on the phone/computer and tell the customer to scan it. The customer can then just check to make sure its roughly correct and send the money.

ok you people ignore the technology of bitcoin. my analogy is about the ease of understanding numbers, again which is easier to say, to be heard, to understand AND/OR be read

ignore it being bitcoin. lets say you are having a conversation with someone and they owe you gold, carrots, potato's whatever

is it easier to say
0.00024512 of a tonne of gold
or
245.12 bits of gold

for the recipent. if he is being told by someone, is it easier to HEAR
0.00024512 of a tonne of gold
or
245.12 bits of gold

and for typing on a keyboard is it easier to TYPE

0.00024512 of a tonne of gold
or
245.12 bits of gold

and for transacting, is it easier to transact
0.00024512 of a thousand dollar bill
or
245.12 bits a micropenny

as for the drunk customer and the bar scenario, if the drunk man was to only receive a QR code and try to read the screen to check that the value seems right. which is easier to read with blurred vision
0.00024512 bitcoin
or
245.12 bits

I always say twenty-four thousand five hundred twelve and I instantly know that a number that is thousand has 5 digits and only need to have 3 zeros ahead ... so yeah it's easier for me to remember just this one simple little thing rather then use 2 or 3 names for bitcoins .... it's like I awlays have to convert kilometers to miles

phillipsjk
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August 04, 2014, 03:52:08 AM
 #456

I always say twenty-four thousand five hundred twelve and I instantly know that a number that is thousand has 5 digits and only need to have 3 zeros ahead ... so yeah it's easier for me to remember just this one simple little thing rather then use 2 or 3 names for bitcoins .... it's like I awlays have to convert kilometers to miles

PSA: For the metric system, you divide/multiply by multiples of 10 for conversions. The result is that you simply move the decimal place to where it is most convenient.

It appears that people used to the imperial system expect the conversions to be more complicated than that for some reason (the original reddit post advocating "bits" instead of "mikes" specifically mentioned conversion difficulty as well).

Quote from: bitcoin_bits on reddit
We need to lose the sci-prefixes. No one wants your micro anything. People want cents and pennies, not micro dollars. We aren't in a lecture theatre, we're trying to buy class-A drugs, guns and morally questionable porn (i kid, i kid!).

The average person doesn't remember how many decimal places the conversion is to this or that unit, and i don't want a test in long division every time i try to buy some alpaca socks.

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August 04, 2014, 04:43:04 AM
 #457

Even with the rigged polls (not even offering the 'mike/micro' option), this debate still rages?

I gotta say it looks like the 'bit'wits have won, but I'll still use millies and mike/micros for clarity.

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August 08, 2014, 02:03:07 AM
 #458

I think this is a beautiful idea. And the psycology of it might make users feel better with themselves, as it is a larger number than currently used. (This would make people feel as if they have more). Doing something like this might also encourage people to randomly tip bitcoin to people in order to spread the currency.
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100 satoshis -> ISO code


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August 08, 2014, 02:22:32 AM
 #459

I think this is a beautiful idea. And the psycology of it might make users feel better with themselves, as it is a larger number than currently used. (This would make people feel as if they have more). Doing something like this might also encourage people to randomly tip bitcoin to people in order to spread the currency.

Yep. And Reddit leads the way...

http://www.reddit.com/user/changetip

bitcoinanon
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The way of the future...


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August 08, 2014, 03:32:00 AM
 #460

Is this going to happen soon? Im sure if this is a standard feature of the bitcoin core other developments will follow suit like electrum and mycelium etc.
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