The BitPay program will bitcoin units change to Bits

The BitPay program will bitcoin units change to Bits

Headquartered in Georgia, bitcoin payment processing company BitPay announced a plan, it will be on the site to “bits” display unit of bitcoin, 1 bit equal to 0.000001BTC.

Bitcoin developer Jeff Garzik Post said, BitPay Decided to take practical action, the expression of bitcoin unit change support, because this industry is worth considering. human-computer interaction The problem.

A fierce debate in the Reddit forum that many support change bitcoin units that bitcoin is currently the segmentation unit — mBTC, BTC and cBTC are too complex for mainstream consumers.

Garzik said the unit change will solve a problem: “many popular accounting and financial package, when prices exceed two digits after the decimal point, there will be problems. Bitcoin into smaller units can make it, either now or in the future, with more extensive compatibility. “

In addition, the bitcoin core developers also explained that if to expand the bitcoin market as the goal, do not have more attractive alternatives.

He told the CoinDesk that BitPay will continue to implement the plan, the assumption has been got positive feedback from the community”.

Garzik said, BitPay’s advice is the decimal point backward migration six, to retain two decimal point. He wrote: “on the higher level, people are more familiar with the price of expression is, after the decimal point of not more than two. This assumption has been applied to the cash register, spreadsheets, computer input, real world people trading.” As an example, Garzik points out that, for consumers, 9123 bits 0.009123 BTC is more intuitive than.

Garzik Also discussed why the company will not change the unit without bitcoin ( MBTC ). This is not an attractive long-term choice, because it might need to micro bitcoin (again BTC ) transition. He concluded: Only the best for a change, although bitcoin is still young.

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