Post
Topic
Board Bitcoin Discussion
Re: More than a year and still no consensus on uBTC unit? Consensus is overrated?
by
KingOfTrolls
on 19/11/2014, 07:52:48 UTC
After more than a year discussing and we still haven't decided what to call 100 satoshis or even if the new unit should be 100 satoshis to begin with. Is consensus overrated?

We already have consensus:

1 bitcoin = 100 million satoshis


What else do you want? And why?







It's also more importantly half of the name of the currency we're dealing with.  The name is "bit"-coin.  It always seems like people conveniently forget to mention that the name of the proposed new term is IN THE NAME OF THE ACTUAL COIN!

Which is why some new users assume 1bit==1Bitcoin.

I know what you mean:

1 sec = 1 second
1 min = 1 minute

...and even:

1 bike = 1 bicycle



However — from my experience — most newbies intuitively assume that a "bit" must be the smallest unit, i.e. they think that 1 bit = 1 satoshi, which would be the better definition to begin with.