Re: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE
What about this:
1 Bitcoin = 1 MegaBit
e-0 MegaBit
e-1
e-2
e-3 KiloBit
e-4
e-5
e-6 Bit
e-7
e-8 Satoshi
e-9 MilliBit (not currently dividable but maybe in the future)
People are much more used to the large prefixes than to the small ones.
1 Bitcoin = 1 MegaBit
e-0 MegaBit
e-1
e-2
e-3 KiloBit
e-4
e-5
e-6 Bit
e-7
e-8 Satoshi
e-9 MilliBit (not currently dividable but maybe in the future)
People are much more used to the large prefixes than to the small ones.
fixed that for ya
point is to have a name for a unit where we have maximal 2 decimal digits. this is neccessary for a lot of software which are in use already.
1.00 --> 1 bit = 100 sats and that is it. Bitcoin is the protocol and one bit is the base unit which you can divide in 100 satoshis.
EDIT: one neccessary thing would be on the other hand the possibility to transfer at least 1 bit with one transaction which would have impact on the blocksize. transfer roughly at least 0.0005$ with one tx. this should be possible. if I be a Newbie I will test the whole thing: go to a Bitcoin faucet where I will get one bit and then I will try to transfer it to a friend on the mars.
off chain txs are insecure. proof is inputs.io. too centralized.