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From: Michael Cassano <mcassano@gmail.com>
Date: Fri, 13 Dec 2024 10:16:23 -0700
Message-ID: <CAAg3Je02CszYvwF1kL3DofpnxXZvBZx7GAJaM2y1z6ePiG5Y2A@mail.gmail.com>
Subject: Re: [bitcoindev] [BIP Proposal] Redefinition of the Bitcoin Unit to
 the Base Denomination
To: Bitcoin Error Log <bitcoinerrorlog@gmail.com>
Cc: bitcoindev@googlegroups.com
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Mailing-list: list bitcoindev@googlegroups.com; contact bitcoindev+owners@googlegroups.com

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Dear John,

Thank you for the write up.

To further explore this idea, did you consider the idea of dropping
"bitcoin" and keeping "sats" as it is already?

Benefits:
1) We don't re-purpose the existing label of "bitcoin" to represent
something else
2) "sats" is already well defined throughout the system, this minimizes
changes
3) "bitcoin" can live on to represent the network "Bitcoin: a decentralized
peer to peer network"
4) We preserve the honor to Satoshi Nakamoto, the prescient honored founder
of Bitcoin
5) Easy to roll out, we just stop using "bitcoin" over time because we all
agreed it represents an awkward decimalization.

Best regards,
Mike

On Fri, Dec 13, 2024 at 7:50=E2=80=AFAM Bitcoin Error Log <bitcoinerrorlog@=
gmail.com>
wrote:

> Dear Bitcoin Community,
>
> I=E2=80=99d like to introduce a new BIP that aims to redefine the "bitcoi=
n" unit
> to match Bitcoin=E2=80=99s fundamental integer-based accounting. Under th=
is
> proposal, what has traditionally been called "1 BTC" (100,000,000 base
> units) would instead be represented directly as 100 million bitcoins, whi=
le
> the smallest indivisible unit becomes the unit of reference=E2=80=94simpl=
y "one
> bitcoin." This change removes the complexity and confusion of representin=
g
> values with eight decimal places.
>
> *Key points:*
>
>    - Redefines the "bitcoin" to the smallest indivisible unit tracked by
>    the protocol.
>    - Eliminates the need for decimal points, aligning displayed values,
>    and community understanding, with the integral nature of Bitcoin=E2=80=
=99s
>    accounting.
>    - Simplifies mental arithmetic and reduces user confusion associated
>    with decimal-based representations.
>    - Future-proofs the display format by preventing the need for new
>    fractional denominations as Bitcoin adoption and valuation evolve.
>    - Has other various perks like mitigating unit bias, preventing
>    miseducation about Bitcoin's divisibility.
>
> This proposal also addresses alternative suggestions such as BIP=E2=80=AF=
176
> ("bits"), explaining why introducing another sub-unit still forces users =
to
> think in decimals and multiple denominations. By adopting an integer-only
> display, we can provide a clearer, more intuitive, and ultimately more
> durable representation of Bitcoin=E2=80=99s value.
>
>
> *Full draft BIP Text:*
> https://github.com/BitcoinAndLightningLayerSpecs/balls/blob/main/BIP%2021=
Q.md
>
> Please share your comments here on the mailing list. I look forward to
> refining this proposal based on community input.
>
> Thank you for your consideration,
>
> John Carvalho
> bitcoinerrorlog@gmail.com
>
> --
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> email to bitcoindev+unsubscribe@googlegroups.com.
> To view this discussion visit
> https://groups.google.com/d/msgid/bitcoindev/CAE2fw6tjVQQT4mpvec2kQg45eLS=
7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail.com
> <https://groups.google.com/d/msgid/bitcoindev/CAE2fw6tjVQQT4mpvec2kQg45eL=
S7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail.com?utm_medium=3Demail&utm_source=3Df=
ooter>
> .
>

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<div dir=3D"ltr">Dear John,<div><br></div><div>Thank you for the write up.<=
/div><div><br></div><div>To further explore this idea, did you consider the=
 idea of dropping &quot;bitcoin&quot; and keeping &quot;sats&quot; as it is=
 already?</div><div><br></div><div>Benefits:</div><div>1) We don&#39;t re-p=
urpose=C2=A0the existing label of &quot;bitcoin&quot; to represent somethin=
g else</div><div>2) &quot;sats&quot; is already well defined throughout the=
 system, this minimizes changes</div><div>3) &quot;bitcoin&quot; can live o=
n to represent the network &quot;Bitcoin: a decentralized peer to peer netw=
ork&quot;</div><div>4) We preserve the honor to Satoshi Nakamoto, the presc=
ient honored founder of Bitcoin</div><div>5) Easy to roll out, we just stop=
 using &quot;bitcoin&quot; over time because we all agreed it represents an=
 awkward decimalization.</div><div><br></div><div>Best regards,</div><div>M=
ike</div></div><br><div class=3D"gmail_quote gmail_quote_container"><div di=
r=3D"ltr" class=3D"gmail_attr">On Fri, Dec 13, 2024 at 7:50=E2=80=AFAM Bitc=
oin Error Log &lt;<a href=3D"mailto:bitcoinerrorlog@gmail.com">bitcoinerror=
log@gmail.com</a>&gt; wrote:<br></div><blockquote class=3D"gmail_quote" sty=
le=3D"margin:0px 0px 0px 0.8ex;border-left-width:1px;border-left-style:soli=
d;border-left-color:rgb(204,204,204);padding-left:1ex"><div dir=3D"ltr"><di=
v><p>Dear Bitcoin Community,</p><p>I=E2=80=99d like to introduce a new BIP =
that aims to redefine the &quot;bitcoin&quot; unit to match Bitcoin=E2=80=
=99s fundamental integer-based accounting. Under this proposal, what has tr=
aditionally been called &quot;1 BTC&quot; (100,000,000 base units) would in=
stead be represented directly as 100 million bitcoins, while the smallest i=
ndivisible unit becomes the unit of reference=E2=80=94simply &quot;one bitc=
oin.&quot; This change removes the complexity and confusion of representing=
 values with eight decimal places.</p><p><strong>Key points:</strong></p><u=
l><li>Redefines the &quot;bitcoin&quot; to the smallest indivisible unit tr=
acked by the protocol.</li><li>Eliminates the need for decimal points, alig=
ning displayed values, and community understanding, with the integral natur=
e of Bitcoin=E2=80=99s accounting.</li><li>Simplifies mental arithmetic and=
 reduces user confusion associated with decimal-based representations.</li>=
<li>Future-proofs the display format by preventing the need for new fractio=
nal denominations as Bitcoin adoption and valuation evolve.</li><li>Has oth=
er various perks like mitigating unit bias, preventing miseducation about B=
itcoin&#39;s divisibility.</li></ul><p>This proposal also addresses alterna=
tive suggestions such as BIP=E2=80=AF176 (&quot;bits&quot;), explaining why=
 introducing another sub-unit still forces users to think in decimals and m=
ultiple denominations. By adopting an integer-only display, we can provide =
a clearer, more intuitive, and ultimately more durable representation of Bi=
tcoin=E2=80=99s value.</p><p><b>Full draft BIP Text:<br></b><a href=3D"http=
s://github.com/BitcoinAndLightningLayerSpecs/balls/blob/main/BIP%2021Q.md" =
target=3D"_blank">https://github.com/BitcoinAndLightningLayerSpecs/balls/bl=
ob/main/BIP%2021Q.md</a></p><p>Please share your comments here on the maili=
ng list. I look forward to refining this proposal based on community input.=
</p><p>Thank you for your consideration,</p><p>John Carvalho<br><a href=3D"=
mailto:bitcoinerrorlog@gmail.com" target=3D"_blank">bitcoinerrorlog@gmail.c=
om</a></p></div></div>

<p></p>

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</blockquote></div>

<p></p>

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