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BIP 176: Utilization of bits denomination #618

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merged 1 commit into from Dec 23, 2017

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jimmysong commented Dec 23, 2017

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@luke-jr luke-jr added the New BIP label Dec 23, 2017

@luke-jr luke-jr changed the title from New BIP: Formalize "bits" as 1/1,000,000 of a bitcoin to BIP 176: Utilization of bits denomination Dec 23, 2017

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luke-jr Dec 23, 2017

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For merge, rename to use BIP 176 and add to README.

Suggestions:

  • Definition should probably be specified in satoshis
  • Title might be better off something like "Bits denomination" or something
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luke-jr commented Dec 23, 2017

For merge, rename to use BIP 176 and add to README.

Suggestions:

  • Definition should probably be specified in satoshis
  • Title might be better off something like "Bits denomination" or something
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jimmysong Dec 23, 2017

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@luke-jr Suggestions addressed!

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jimmysong commented Dec 23, 2017

@luke-jr Suggestions addressed!

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Apologies for the premature squash. I think I've addressed your comments. @luke-jr

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jimmysong commented Dec 23, 2017

Apologies for the premature squash. I think I've addressed your comments. @luke-jr

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Got build to pass. Apologies for not checking that earlier.

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jimmysong commented Dec 23, 2017

Got build to pass. Apologies for not checking that earlier.

@luke-jr luke-jr merged commit 8ee73ca into bitcoin:master Dec 23, 2017

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tamasblummer Dec 23, 2017

Amounts denominated in bits would fit nicely into legacy database structures and UIs with two decimal places for currency.

tamasblummer commented Dec 23, 2017

Amounts denominated in bits would fit nicely into legacy database structures and UIs with two decimal places for currency.

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This isn't the right place to comment on the BIP.

https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev

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luke-jr commented Dec 23, 2017

This isn't the right place to comment on the BIP.

https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev

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FaysalM Dec 30, 2017

I 100% agree this is absolutely needed. I spend more hours in the day explaining how bitcoin is divisible, than I really should be to MBA, and Econ major folks. They just dont get it. They want to feel they own one whole of something. This is now very apparent with the XRP, ADA, XLM, BTS, DOGE pumps.

FaysalM commented on 7e4d602 Dec 30, 2017

I 100% agree this is absolutely needed. I spend more hours in the day explaining how bitcoin is divisible, than I really should be to MBA, and Econ major folks. They just dont get it. They want to feel they own one whole of something. This is now very apparent with the XRP, ADA, XLM, BTS, DOGE pumps.

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1hiro Jan 7, 2018

ack. It is very difficult to read amounts with more than 2 leading zeros after the decimal place.

1hiro replied Jan 7, 2018

ack. It is very difficult to read amounts with more than 2 leading zeros after the decimal place.

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stefek99 Jan 2, 2018

@luke-jr I've followed your advice about mailing list:

Detailed patch discussion generally better on a GitHub PR.

Plus there is nothing on the list:

image


Bitcoin: 1 BTC

Satoshi: 0.00000001 BTC

The only other units I've ever heard in my life:

  • millis
  • bits

In my head 1 bit is 0.001 (one thousand of the BTC)


At the current rates 1 bit (according to my head) is $13.5 - I can handle such denomination in my head:

  • lunch is 1 bit
  • beer in a pub is 0.3 bits
  • plane ticket is 10 bits

My suggestion would be to revisit this BIP and PR and do a poll... I don't see much activity here, sample is too small.

stefek99 commented Jan 2, 2018

@luke-jr I've followed your advice about mailing list:

Detailed patch discussion generally better on a GitHub PR.

Plus there is nothing on the list:

image


Bitcoin: 1 BTC

Satoshi: 0.00000001 BTC

The only other units I've ever heard in my life:

  • millis
  • bits

In my head 1 bit is 0.001 (one thousand of the BTC)


At the current rates 1 bit (according to my head) is $13.5 - I can handle such denomination in my head:

  • lunch is 1 bit
  • beer in a pub is 0.3 bits
  • plane ticket is 10 bits

My suggestion would be to revisit this BIP and PR and do a poll... I don't see much activity here, sample is too small.

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That's the moderation ML, not the bitcoin-dev ML...

This PR is merged; it's a closed topic.

Feel free to do whatever polling you want, but BIPs are optional regardless.

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luke-jr commented Jan 2, 2018

That's the moderation ML, not the bitcoin-dev ML...

This PR is merged; it's a closed topic.

Feel free to do whatever polling you want, but BIPs are optional regardless.

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stefek99 Jan 4, 2018

Ouch. Wrong list.

This is the correct link: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-December/015399.html

Github PRs are not set in stone. It is always possible to revisit the thing


Did Google search for "bitcoin bits" and you are probably right

cos musialo mi sie pojebac

(a polish phrase)

stefek99 commented Jan 4, 2018

Ouch. Wrong list.

This is the correct link: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-December/015399.html

Github PRs are not set in stone. It is always possible to revisit the thing


Did Google search for "bitcoin bits" and you are probably right

cos musialo mi sie pojebac

(a polish phrase)

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