Post
Topic
Board Bitcoin Discussion
Re: Good news! Gavin Andresen: I think everybody should switch to talking in "bits"
by
Waramp22
on 22/10/2014, 11:44:56 UTC
Why switch to bits when there is already "satoshi" as a unit?


The reason he wants to switch to bits is because it allows us to drop the confusing decimal places.
example:
.000386 bitcoin - 386 bits

This simplifies things for the time being, and lets us use satoshis when we need to be even more specific
example: instead of .00038619 bitcoin it will be 386 bits and 19 satoshis (or sats)

This will help in the adoption of bitcoin as it has the same familiar layout that the USD has. Dollars and cents.