Quote from: Stedsm on November 15, 2014, 12:54:29 PM

I disagree to all of this. 1BTC should always equal 10,000,000 bits, 1,000 mbtc and 100 bitcents, respectively.

The problem here is that the term bits is often misunderstood and causes confusion. People will see bitcoin amounts written like 0.00012345BTC and intuitively assume that it is 12345 bits. (In fact, there are already documented cases of these misunderstandings.)

More generally, different people have different notions of what the term "bit" should mean, thus adding to the confusion.

Instead, we should use the (much more established) convention that 1 BTC = 100 000 000 sats.

Keep it simple. Wink