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From: Bitcoin Error Log <bitcoinerrorlog@gmail.com>
Date: Thu, 12 Dec 2024 19:52:40 +0000
Message-ID: <CAE2fw6tjVQQT4mpvec2kQg45eLS7VemzQgUfW7Pghdk_Si3PpA@mail.gmail.com>
Subject: [bitcoindev] [BIP Proposal] Redefinition of the Bitcoin Unit to the
Base Denomination
To: bitcoindev@googlegroups.com
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--0000000000003e10c30629180fde
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Dear Bitcoin Community,
I=E2=80=99d like to introduce a new BIP that aims to redefine the "bitcoin"=
unit to
match Bitcoin=E2=80=99s fundamental integer-based accounting. Under this pr=
oposal,
what has traditionally been called "1 BTC" (100,000,000 base units) would
instead be represented directly as 100 million bitcoins, while the smallest
indivisible unit becomes the unit of reference=E2=80=94simply "one bitcoin.=
" This
change removes the complexity and confusion of representing 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 a=
ccounting.
- 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=AF17=
6
("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%2021Q.=
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
--=20
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CAE2fw6tjVQQT4mpvec2kQg45eLS7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail.com.
--0000000000003e10c30629180fde
Content-Type: text/html; charset="UTF-8"
Content-Transfer-Encoding: quoted-printable
<div dir=3D"ltr"><div><p>Dear Bitcoin Community,</p><p>I=E2=80=99d like to =
introduce a new BIP that aims to redefine the "bitcoin" unit to m=
atch Bitcoin=E2=80=99s fundamental integer-based accounting. Under this pro=
posal, what has traditionally been called "1 BTC" (100,000,000 ba=
se units) would instead be represented directly as 100 million bitcoins, wh=
ile the smallest indivisible unit becomes the unit of reference=E2=80=94sim=
ply "one bitcoin." This change removes the complexity and confusi=
on of representing values with eight decimal places.</p><p><strong>Key poin=
ts:</strong></p><ul><li>Redefines the "bitcoin" to the smallest i=
ndivisible unit tracked by the protocol.</li><li>Eliminates the need for de=
cimal points, aligning displayed values, and community understanding, with =
the integral nature of Bitcoin=E2=80=99s accounting.</li><li>Simplifies men=
tal arithmetic and reduces user confusion associated with decimal-based rep=
resentations.</li><li>Future-proofs the display format by preventing the ne=
ed for new fractional denominations as Bitcoin adoption and valuation evolv=
e.</li><li>Has other various perks like mitigating unit bias, preventing mi=
seducation about Bitcoin's divisibility.</li></ul><p>This proposal also=
addresses alternative suggestions such as BIP=E2=80=AF176 ("bits"=
;), explaining why introducing another sub-unit still forces users to think=
in decimals and multiple denominations. By adopting an integer-only displa=
y, we can provide a clearer, more intuitive, and ultimately more durable re=
presentation of Bitcoin=E2=80=99s value.</p><p><b>Full draft BIP Text:<br><=
/b><a href=3D"https://github.com/BitcoinAndLightningLayerSpecs/balls/blob/m=
ain/BIP%2021Q.md">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">bitcoinerrorlog@gmail.com</a></p></div></=
div>
<p></p>
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To view this discussion visit <a href=3D"https://groups.google.com/d/msgid/=
bitcoindev/CAE2fw6tjVQQT4mpvec2kQg45eLS7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail=
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mail.com</a>.<br />
--0000000000003e10c30629180fde--
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