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Subject: Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination
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I see further arguments supporting the =E2=80=9Cbit" denomination:
huge benefit:
- amounts denominated in bits fit nicely into legacy database =
structures and UIs with two decimal places for currency. This change to =
the usual currrency precision is a huge benefit for integration into =
existing financial software.
nice to have:
- while fraction prefixes m for 1/1000 and u for 1/1000000 are =
obvious to engineers and geeks, they are a foreign concept to many. =
Chances confusing magnitudes would be high if alternative scales were =
offered.
- bit assigns an easy to comprehend meaning to the second part =
of the Bitcoin name: I think the term =E2=80=9C(a whole) coin" would =
quickly catch on as a synonym for a million bits.
Tamas Blummer=
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