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From: Tamas Blummer <tamas@bitsofproof.com>
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Cc: bitcoin-development@lists.sourceforge.net
Subject: Re: [Bitcoin-development] "bits": Unit of account
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The problem is =B5BTC that bit tries to solve.=20

BTC, mBTC and =B5BTC are just too similiar for enyone else than =
engineers. The mixed use of them leads to misunderstanding.=20
I think adoption would benefit of a single unit with easily remembered =
and associated name that has no smaller than 1/100 fractions called =
satoshis.

Regards,

Tam=E1s Blummer
Founder, CEO

http://bitsofproof.com

On 23.04.2014, at 11:44, Danny Hamilton <danny.hamilton@gmail.com> =
wrote:

> It seems to me that xbit is no more distinct or intuitive than =B5bit. =
In either case it's simply an arbitrary character in front of the word =
"bit".  Of course, for the majority of the world familiar with SI, the =B5=
 actually adds additional meaning that is lost with the x.
>=20
> Furthermore, given the multiple concerns voiced about the overuse of =
the word "bit", =B5BTC seems to solve the problem.
>=20
> Since we are talking about how it would be displayed in software, we =
don't need to be concerned about how people will pronounce it, or what =
the nickname will be.  If most of the wallets start displaying amounts =
in =B5BTC quantities, it will be obvious that a =B5BTC is a different =
magnitude than a BTC.  Nobody is going to look at their 100,000 =B5BTC =
balance and think they have 100,000 BTC. People will immediately make =
the mental adjustment to the new order of magnitude even if they don't =
specifically know that =B5 means micro, or that micro means 1e-6.
>=20
> Nicknames will form organically (much like buck, fin, large, k, grand, =
and benny for U.S. currency), I've always been partial to milly (or =
millie) and mike (or micky) as nicknames for mBTC and =B5BTC.  I've =
personally used those when speaking with people, and they seem to catch =
on pretty quickly.
>=20
> As has already been mentioned, you're going to be hard pressed to find =
software that denotes U.S. balances in "bucks".  There isn't any good =
reason to be coding a nickname like "bit", "xbit", or "mike" into wallet =
software.
>=20
> -  Danny Hamilton
>=20
>=20
> On Tue, Apr 22, 2014 at 8:51 AM, Aaron Axvig <aaron@axvigs.com> wrote:
> That piece of horse equipment is called a bit in the US too.  But the =
point
> stands: most people don't use "bit" on a daily basis other than =
referring to
> "a little bit of <something>."
>=20
> -----Original Message-----
> From: Wladimir [mailto:laanwj@gmail.com]
> Sent: Sunday, April 20, 2014 11:27 AM
> To: Chris Pacia
> Cc: Bitcoin Dev
> Subject: Re: [Bitcoin-development] "bits": Unit of account
>=20
> On Sun, Apr 20, 2014 at 6:19 PM, Chris Pacia <ctpacia@gmail.com> =
wrote:
> > The term bit is really only overloaded for those who are techy. 95% =
of
> > the population never uses the term bit in their daily lives and I
> > doubt most could even name one use of the term.
> > Plus bit used to be a unit of money way back when, so this is kind =
of
> > reclaiming it. I think it's a great fit.
>=20
> That's a very anglocentric way of thinking.
>=20
> Here in the Netherlands, a "bit" is something you put in a horses's =
mouth.
> It's also used as imported word (in the information sense).
> We've never used the term for money.
>=20
> Wladimir
>=20
> =
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> --
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> definitive new guide to graph databases and their applications. =
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> three acclaimed leaders in the field, this first edition is now =
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> Download your free book today!
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> Bitcoin-development@lists.sourceforge.net
> https://lists.sourceforge.net/lists/listinfo/bitcoin-development
>=20
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<html><head><meta http-equiv=3D"Content-Type" content=3D"text/html =
charset=3Diso-8859-1"></head><body style=3D"word-wrap: break-word; =
-webkit-nbsp-mode: space; -webkit-line-break: after-white-space;">The =
problem is =B5BTC that bit tries to solve.&nbsp;<div><br></div><div>BTC, =
mBTC and&nbsp;=B5BTC are just too similiar for enyone else than =
engineers. The mixed use of them leads to =
misunderstanding.&nbsp;</div><div>I think adoption would benefit of a =
single unit with easily remembered and associated name that has no =
smaller than 1/100 fractions called satoshis.<br><div =
apple-content-edited=3D"true"><br style=3D"color: rgb(0, 0, 0); =
font-family: Helvetica; font-size: 12px; font-style: normal; =
font-variant: normal; font-weight: normal; letter-spacing: normal; =
line-height: normal; text-align: -webkit-auto; text-indent: 0px; =
text-transform: none; white-space: normal; word-spacing: 0px; =
-webkit-text-stroke-width: 0px; orphans: 2; widows: 2;"><span =
style=3D"color: rgb(0, 0, 0); font-family: Helvetica; font-size: 12px; =
font-style: normal; font-variant: normal; font-weight: normal; =
letter-spacing: normal; line-height: normal; text-align: -webkit-auto; =
text-indent: 0px; text-transform: none; white-space: normal; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; widows: =
2; float: none; display: inline !important;">Regards,</span><br =
style=3D"color: rgb(0, 0, 0); font-family: Helvetica; font-size: 12px; =
font-style: normal; font-variant: normal; font-weight: normal; =
letter-spacing: normal; line-height: normal; text-align: -webkit-auto; =
text-indent: 0px; text-transform: none; white-space: normal; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; widows: =
2;"><br style=3D"color: rgb(0, 0, 0); font-family: Helvetica; font-size: =
12px; font-style: normal; font-variant: normal; font-weight: normal; =
letter-spacing: normal; line-height: normal; text-align: -webkit-auto; =
text-indent: 0px; text-transform: none; white-space: normal; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; widows: =
2;"><span style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; text-align: =
-webkit-auto; text-indent: 0px; text-transform: none; white-space: =
normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; =
widows: 2; float: none; display: inline !important;">Tam=E1s =
Blummer</span><br style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; text-align: =
-webkit-auto; text-indent: 0px; text-transform: none; white-space: =
normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; =
widows: 2;"><span style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; text-align: =
-webkit-auto; text-indent: 0px; text-transform: none; white-space: =
normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; =
widows: 2; float: none; display: inline !important;">Founder, =
CEO</span><br style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; text-align: =
-webkit-auto; text-indent: 0px; text-transform: none; white-space: =
normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; =
widows: 2;"><span style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; orphans: auto; =
text-align: start; text-indent: 0px; text-transform: none; white-space: =
normal; widows: auto; word-spacing: 0px; -webkit-text-stroke-width: =
0px;"><span><img height=3D"29" width=3D"108" apple-inline=3D"yes" =
id=3D"E6ED0EDF-42A8-4F83-AAAE-09B16ADBE0F1" apple-width=3D"yes" =
apple-height=3D"yes" =
src=3D"cid:3C4B242D-0E61-4B2E-A3CB-3D41C3C826C2"></span><br =
style=3D"color: rgb(0, 0, 0); font-family: Helvetica; font-size: 12px; =
font-style: normal; font-variant: normal; font-weight: normal; =
letter-spacing: normal; line-height: normal; text-align: -webkit-auto; =
text-indent: 0px; text-transform: none; white-space: normal; =
word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; widows: =
2;"><span style=3D"color: rgb(0, 0, 0); font-family: Helvetica; =
font-size: 12px; font-style: normal; font-variant: normal; font-weight: =
normal; letter-spacing: normal; line-height: normal; text-align: =
-webkit-auto; text-indent: 0px; text-transform: none; white-space: =
normal; word-spacing: 0px; -webkit-text-stroke-width: 0px; orphans: 2; =
widows: 2; float: none; display: inline !important;"><a =
href=3D"http://bitsofproof.com">http://bitsofproof.com</a></span>
</span></div>
<br><div><div>On 23.04.2014, at 11:44, Danny Hamilton &lt;<a =
href=3D"mailto:danny.hamilton@gmail.com">danny.hamilton@gmail.com</a>&gt; =
wrote:</div><br class=3D"Apple-interchange-newline"><blockquote =
type=3D"cite"><div dir=3D"ltr"><div><div><div><div>It seems to me that =
xbit is no more distinct or intuitive than =B5bit. In either case it's =
simply an arbitrary character in front of the word "bit".&nbsp; Of =
course, for the majority of the world familiar with SI, the =B5 actually =
adds additional meaning that is lost with the x.<br>

<br></div><div>Furthermore, given the multiple concerns voiced about the =
overuse of the word "bit", =B5BTC seems to solve the =
problem.<br><br></div>Since we are talking about how it would be =
displayed in software, we don't need to be concerned about how people =
will pronounce it, or what the nickname will be.&nbsp; If most of the =
wallets start displaying amounts in =B5BTC quantities, it will be =
obvious that a =B5BTC is a different magnitude than a BTC.&nbsp; Nobody =
is going to look at their 100,000 =B5BTC balance and think they have =
100,000 BTC. People will immediately make the mental adjustment to the =
new order of magnitude even if they don't specifically know that =B5 =
means micro, or that micro means 1e-6.<br>

<br></div>Nicknames will form organically (much like buck, fin, large, =
k, grand, and benny for U.S. currency), I've always been partial to =
milly (or millie) and mike (or micky) as nicknames for mBTC and =
=B5BTC.&nbsp; I've personally used those when speaking with people, and =
they seem to catch on pretty quickly.<br>

<br></div>As has already been mentioned, you're going to be hard pressed =
to find software that denotes U.S. balances in "bucks".&nbsp; There =
isn't any good reason to be coding a nickname like "bit", "xbit", or =
"mike" into wallet software.<br>

<br></div>-&nbsp; Danny Hamilton<br></div><div =
class=3D"gmail_extra"><br><br><div class=3D"gmail_quote">On Tue, Apr 22, =
2014 at 8:51 AM, Aaron Axvig <span dir=3D"ltr">&lt;<a =
href=3D"mailto:aaron@axvigs.com" =
target=3D"_blank">aaron@axvigs.com</a>&gt;</span> wrote:<br>

<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 =
.8ex;border-left:1px #ccc solid;padding-left:1ex">That piece of horse =
equipment is called a bit in the US too. &nbsp;But the point<br>
stands: most people don't use "bit" on a daily basis other than =
referring to<br>
"a little bit of &lt;something&gt;."<br>
<div class=3D"HOEnZb"><div class=3D"h5"><br>
-----Original Message-----<br>
From: Wladimir [mailto:<a =
href=3D"mailto:laanwj@gmail.com">laanwj@gmail.com</a>]<br>
Sent: Sunday, April 20, 2014 11:27 AM<br>
To: Chris Pacia<br>
Cc: Bitcoin Dev<br>
Subject: Re: [Bitcoin-development] "bits": Unit of account<br>
<br>
On Sun, Apr 20, 2014 at 6:19 PM, Chris Pacia &lt;<a =
href=3D"mailto:ctpacia@gmail.com">ctpacia@gmail.com</a>&gt; wrote:<br>
&gt; The term bit is really only overloaded for those who are techy. 95% =
of<br>
&gt; the population never uses the term bit in their daily lives and =
I<br>
&gt; doubt most could even name one use of the term.<br>
&gt; Plus bit used to be a unit of money way back when, so this is kind =
of<br>
&gt; reclaiming it. I think it's a great fit.<br>
<br>
That's a very anglocentric way of thinking.<br>
<br>
Here in the Netherlands, a "bit" is something you put in a horses's =
mouth.<br>
It's also used as imported word (in the information sense).<br>
We've never used the term for money.<br>
<br>
Wladimir<br>
<br>
=
--------------------------------------------------------------------------=
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Learn Graph Databases - Download FREE O'Reilly Book "Graph Databases" is =
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three acclaimed leaders in the field, this first edition is now =
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Download your free book today!<br>
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