Subject: Re: [bitcoin-dev] BIP Proposal: Utilization of bits denomination

From: Tamas Blummer <[email-masked]>
Date: Sun, 24 Dec 2017 05:26:04 +0100

I see further arguments supporting the “bit" 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 “(a whole) coin" would quickly catch on as a synonym for a million bits.

Tamas Blummer