Bits are retarded.
Bitcoins and satoshis.
Why call .1btc different than what it is?!
Bitcoins and satoshis.
Why call .1btc different than what it is?!
The system is in need of a unit between the BTC and satoshi. BTC are very big and will only get bigger. A satoshi is VERY small. Imagine if in the US fiat currency only had $400 bills and pennies, it would be cumbersome to use.
Imagine if US fiat was digital currency and there was no bills. You wouldn't call 1 dollar a Dol and 100 dollars a Lar. You'd call them $1 and $100
I will say I like Bits more than some of the other options.
No, they would call a Dollar a Dollar and a Cent a Cent
With bitcoins current setup the value is going to be so high in 5-10 years only the wealthy will use the term "a bitcoin" when doing transactions. Dealing in only Satoshis for everything is not the best option for bitcoin because it is so small. Using a term for a millionth of a bitcoin allows us to drop 2 decimal places and make it more user friendly for the non tech savvy public. Satoshis will still be usefull in places like third world countries and tipping.
eg.
Used bike for sale 365 bits.
Used bike for sale 36500 satoshis.
Used bike for sale .00365000 bitcoin