thepurpose on Nostr: We are boiling down to Gigi's "The Words We Use In Bitcoin". Promising development. ...

We are boiling down to Gigi (nprofile…tacz)'s "The Words We Use In Bitcoin". Promising development. This is the way, plebs. 🫂

https://dergigi.com/2022/06/27/the-words-we-use-in-bitcoin/

quoting
nevent1q…s0lu

I am ashamed of myself.

I disagree with Adam Back on something.

He’s advocating changing the Bitcoin units from “Sats” to “Bits”, primarily because Bits makes sense as a fraction of a “Bit Coin”, but also historical references as Bit has been used to denote many units of historical currency.

I hate the idea, yes hate. Here’s why:

Electric car charging. If you charge your car in public you are “charged” to charge your car. You are typically charged $0.50 per 1KW/h of charge. This dual use of the same word constantly frustrates me.

Also a bit is an octal unit of a Byte, where as a Sat is a decimal unit of Bitcoin.

Currently we are charged 1 Sat / vByte for a transaction.

If we were charged 1 Bit / vByte for a transaction, is that Bit 1/8 of a Byte or 1 / 100,000,000 of a Bitcoin?

That’s my 2 Sats view on the debate. Sorry Adam, don’t hate me.

https://x.com/LuganoPlanB/status/1924348844772352187