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From: George Burke <gb@geoburke.com>
Date: Fri, 13 Dec 2024 11:09:16 -0400
Message-ID: <CAHYx7BuHHgYwCx=56Nmw=2-95c32WDAf8GKc8auoAbqp8JS8fw@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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Interesting proposal John. While I understand the normie adoption
psychology behind redenominating in inexpensive smaller units, what are the
global mindshare ramifications of REDEFINING 1 BTC? The concern is the
entire body of knowledge amassed through today (social posts, articles,
books, videos etc) with references to existing denominal units bifurcates.
--
*George Burke *
*Co-founder, Portal <https://portaldefi.com/> *
Silicon Valley Bitcoin <https://svbtc.org/>, Organizer
Co-founder, FounderPool <https://founderpool.co/>
San Juan, PR / San Francisco, CA
Keybase <https://keybase.io/geoburke> || OneName
<https://onename.com/geoburke>
*For security, encrypt with my PGP key <https://onename.com/geoburke>*
On Fri, Dec 13, 2024 at 10:50=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
>
> --
> You received this message because you are subscribed to the Google Groups
> "Bitcoin Development Mailing List" group.
> To unsubscribe from this group and stop receiving emails from it, send an
> email to bitcoindev+unsubscribe@googlegroups.com.
> To view this discussion visit
> https://groups.google.com/d/msgid/bitcoindev/CAE2fw6tjVQQT4mpvec2kQg45eLS=
7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail.com
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S7VemzQgUfW7Pghdk_Si3PpA%40mail.gmail.com?utm_medium=3Demail&utm_source=3Df=
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> .
>
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--0000000000000969e00629283912
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<div dir=3D"ltr"><div>Interesting proposal John. While I understand the nor=
mie adoption psychology behind redenominating in inexpensive smaller units,=
what are the global mindshare ramifications of REDEFINING 1 BTC? The conce=
rn is the entire body of knowledge amassed through today (social posts, art=
icles, books, videos etc) with references to existing denominal units bifur=
cates.=C2=A0</div><div><div dir=3D"ltr" class=3D"gmail_signature" data-smar=
tmail=3D"gmail_signature"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr=
"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><div =
dir=3D"ltr"><p><span style=3D"font-family:arial">--</span></p><div><div dir=
=3D"ltr"><div dir=3D"ltr"><div dir=3D"ltr"><p><b style=3D"font-size:16px">G=
eorge Burke=C2=A0</b><font style=3D"font-size:16px"><b><br></b></font><b><f=
ont size=3D"2">Co-founder,=C2=A0</font><a href=3D"https://portaldefi.com/" =
style=3D"color:rgb(17,85,204)" target=3D"_blank">Portal</a>=C2=A0</b><br><a=
href=3D"https://svbtc.org/" style=3D"color:rgb(17,85,204)" target=3D"_blan=
k">Silicon Valley Bitcoin</a>, Organizer=C2=A0<br><font size=3D"2">Co-found=
er,=C2=A0</font><a href=3D"https://founderpool.co/" style=3D"color:rgb(17,8=
5,204)" target=3D"_blank">FounderPool</a>=C2=A0<br></p><div><div dir=3D"ltr=
"><div dir=3D"ltr"><div dir=3D"ltr"><p><span style=3D"font-size:x-small">Sa=
n Juan, PR / San Francisco, CA=C2=A0</span><font size=3D"1"><br></font><a h=
ref=3D"https://keybase.io/geoburke" style=3D"font-size:x-small;color:rgb(17=
,85,204)" target=3D"_blank">Keybase</a><span style=3D"font-size:x-small">=
=C2=A0||=C2=A0</span><a href=3D"https://onename.com/geoburke" style=3D"font=
-size:x-small;color:rgb(17,85,204)" target=3D"_blank">OneName</a>=C2=A0<fon=
t size=3D"1"><br></font></p></div></div></div></div><p></p><p><i>For securi=
ty, encrypt with my=C2=A0<a href=3D"https://onename.com/geoburke" target=3D=
"_blank">PGP key</a></i></p><div style=3D"display:inline-block;width:16px;h=
eight:16px"><i>=C2=A0</i></div></div></div></div></div></div></div></div></=
div></div></div></div></div></div></div><br></div><br><div class=3D"gmail_q=
uote gmail_quote_container"><div dir=3D"ltr" class=3D"gmail_attr">On Fri, D=
ec 13, 2024 at 10:50=E2=80=AFAM Bitcoin Error Log <<a href=3D"mailto:bit=
coinerrorlog@gmail.com">bitcoinerrorlog@gmail.com</a>> wrote:<br></div><=
blockquote class=3D"gmail_quote" style=3D"margin:0px 0px 0px 0.8ex;border-l=
eft:1px solid rgb(204,204,204);padding-left:1ex"><div dir=3D"ltr"><div><p>D=
ear Bitcoin Community,</p><p>I=E2=80=99d like to introduce a new BIP that a=
ims to redefine the "bitcoin" unit to match Bitcoin=E2=80=99s fun=
damental integer-based accounting. Under this proposal, what has traditiona=
lly been called "1 BTC" (100,000,000 base units) would instead be=
represented directly as 100 million bitcoins, while the smallest indivisib=
le unit becomes the unit of reference=E2=80=94simply "one bitcoin.&quo=
t; This change removes the complexity and confusion of representing values =
with eight decimal places.</p><p><strong>Key points:</strong></p><ul><li>Re=
defines the "bitcoin" to the smallest indivisible unit tracked by=
the protocol.</li><li>Eliminates the need for decimal points, aligning dis=
played values, and community understanding, with the integral nature of Bit=
coin=E2=80=99s accounting.</li><li>Simplifies mental arithmetic and reduces=
user confusion associated with decimal-based representations.</li><li>Futu=
re-proofs the display format by preventing the need for new fractional deno=
minations as Bitcoin adoption and valuation evolve.</li><li>Has other vario=
us perks like mitigating unit bias, preventing miseducation about Bitcoin&#=
39;s divisibility.</li></ul><p>This proposal also addresses alternative sug=
gestions such as BIP=E2=80=AF176 ("bits"), explaining why introdu=
cing another sub-unit still forces users to think in decimals and multiple =
denominations. By adopting an integer-only display, we can provide a cleare=
r, more intuitive, and ultimately more durable representation of Bitcoin=E2=
=80=99s value.</p><p><b>Full draft BIP Text:<br></b><a href=3D"https://gith=
ub.com/BitcoinAndLightningLayerSpecs/balls/blob/main/BIP%2021Q.md" target=
=3D"_blank">https://github.com/BitcoinAndLightningLayerSpecs/balls/blob/mai=
n/BIP%2021Q.md</a></p><p>Please share your comments here on the mailing lis=
t. 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.com</a>=
</p></div></div>
<p></p>
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</blockquote></div>
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