Subject: Re: [bitcoindev] [BIP Proposal] Redefinition of the Bitcoin Unit to the Base Denomination

From: Michael Cassano <[email-masked]>
Date: Fri, 13 Dec 2024 10:16:23 -0700

Dear John,

Thank you for the write up.

To further explore this idea, did you consider the idea of dropping
"bitcoin" and keeping "sats" as it is already?

Benefits:
1) We don't re-purpose the existing label of "bitcoin" to represent
something else
2) "sats" is already well defined throughout the system, this minimizes
changes
3) "bitcoin" can live on to represent the network "Bitcoin: a decentralized
peer to peer network"
4) We preserve the honor to Satoshi Nakamoto, the prescient honored founder
of Bitcoin
5) Easy to roll out, we just stop using "bitcoin" over time because we all
agreed it represents an awkward decimalization.

Best regards,
Mike

On Fri, Dec 13, 2024 at 7:50 AM Bitcoin Error Log <[email-masked]>
wrote:

> Dear Bitcoin Community,
>
> I’d like to introduce a new BIP that aims to redefine the "bitcoin" unit
> to match Bitcoin’s fundamental integer-based accounting. Under this
> proposal, 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—simply "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’s
>    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 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’s 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
> [email-masked]
>
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