Quote from: olli on May 04, 2014, 06:08:17 PM

Quote from: BlueNote on May 04, 2014, 05:50:13 PM

Bits should be designated as the FOURTH decimal place since it's the midpoint between Bitcoins and Satoshis.

The sixth place lacks symmetry vis-a-vis the already accepted and undisputed designations of Bitcoin and Satoshi. Why would you go so far into the decimal places to split the range like this when you have a midpoint staring you in the face?

When you have a major denomination at the midpoint, then you maximize the efficiency of the numbers. You'll never have to deal with a number greater than 10,000 when you are to the right of the decimal. A Bit would be 10,000 Satoshis, and a Bitcoin would be 10,000 Bits.

Isn't this more intuitive and natural?

The whole point is not about symmetry or aesthetics. The reason for this specific decimal place is so that 100 Satoshis are 1.00 bit. So that a bit has 2 decimal places which is imperative if you want to be compatible with established financial processing software, because basically any currency has 2 decimal places.

I didn't say it was "about" symmetry. I said you maximize the efficiency of the numbers at the midpoint. We already have the endpoints established with accepted names. The fact that it's symmetrical just makes it easier to understand and convey to others. You can simply memorize "The Rule of Ten Thousand," and you can convert all this stuff in your head. It's simpler and more intuitive.

This desire to turn Satoshis into pennies for the sixth spot seems very arbitrary to me. You end up creating very large numbers for Bits, whereas by using the fourth place you always keep numbers at 10,000 or less. That makes it easier to work with over a longer period of time.