I really like the XBT idea. It makes a lot of sense to match the ISO
currency symbol (though the ISO guys will have to adjust the way they've
defined the "XBT"). And I do agree that going right to uBTC and
skipping mBTC makes sense, too.
I'd prefer them not be called "micro bitcoins." I really want to call
them "microbes" ... but I'm not sure that has the right flavor for money
transfer :) "Please give me 872 microbes". Perhaps we just call them
"bits." Or even "micros" or "microbits". As I write this, I realize
there's probably 872 threads on the forums about this already...
But we would want to promote a consistent term, to avoid further
confusion when people use different names for the new unit. It's not
guaranteed to be successful, but if we pick a good name, and build it
into the interface on the first release pushing the new unit, we have a
chance to make the transition even easier.
On 11/14/2013 05:31 PM, Mark Friedenbach wrote:
> Whoops, this was meant for the list:
>
> Drawing on analogues from national currencies, it's also possible to
> alleviate the confusion by switching currency symbols, e.g. to XBT or
> NBC (New Bitcoin).
>
> 1 XBC == 1 uBTC
>
> On 11/14/13 2:03 PM, Jeff Garzik wrote:
> > Go straight to uBTC. Humans and existing computer systems handle
> > numbers to the left of the decimals just fine (HK Dollars, Yen).
> > The opposite is untrue (QuickBooks really does not like 3+ decimal
> > places).
>
> > - Jeff
>
> > On Nov 14, 2013 4:40 PM, "Mark Friedenbach" <m...@monetize.io
> > <mailto:m...@monetize.io>> wrote:
>
> > For this reason I'm in favor of skipping mBTC and moving straight
> > to uBTC. Having eight, or even five decimal places is not intuitive
> > to the average user. Two decimal places is becoming standard for
> > new national currencies, and we wouldn't be too far from human
> > scale everyday numbers: 25.00uBTC ~= $0.01 currently. And I don't
> > think very many people on this list would consider bitcoin
> > overvalued in the long term perspective.
>
> > Better to go through a confusing renumbering only once.
>
> > Mark
>
>
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