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the Bitcoin units from “Sats” to “Bits”, primarily because Bits makes sense as a fraction of a “Bit Coin”, but also historical references as Bit has been used to denote many units of historical currency.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the Bitcoin units from “Sats” to “Bits”, primarily because Bits makes sense as a fraction of a “Bit Coin”, but also historical references as Bit has been used to denote many units of historical currency.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