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Merge pull request #640 from randolf/patch-1

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Luke Dashjr 2022-09-29 22:11:18 +00:00 committed by GitHub
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@ -28,7 +28,7 @@ Potential benefits of utilizing "bits" include:
== Specification ==
Definition: 1 bit = 100 satoshis.
Plural of "bit" is "bits". The terms "bit" and "bits" are not proper nouns and thus should not be capitalized unless used at the start of a sentence, etc.
Plural of "bit" is "bits." The terms "bit" and "bits" are not proper nouns and thus should not be capitalized unless used at the start of a sentence, etc.
All bitcoin-denominated items are encouraged to also show the denomination in bits, either as the default or as an option.
@ -37,16 +37,16 @@ As bitcoin grows in price versus fiat currencies, it's important to give users t
Existing terms used in bitcoin such as satoshi, milli-bitcoin (mBTC) and bitcoin (BTC) do not conflict as they operate at different orders of magnitude.
The term micro-bitcoin (µBTC) can continue to exist in tandem with the term "bits".
The term micro-bitcoin (µBTC) can continue to exist in tandem with the term "bits."
== Backwards Compatibility ==
Software such as the Bitcoin Core GUI currently use the µBTC denomination and can continue to do so. There is no obligation to switch to "bits".
Software such as the Bitcoin Core GUI currently use the µBTC denomination and can continue to do so. There is no obligation to switch to "bits."
The term "bit" has many different definitions, but the ones of particular note are these:
* 1 bit = 1/8 dollar (e.g. That candy cost me 2 bits)
* bit meaning some amount of data (e.g. The first bit of the version field is 0)
* bit meaning strength of a cryptographic algorithm (e.g. 256-bit ECDSA is used in Bitcoin)
* 1 bit = 1/8 dollar (e.g., that candy cost me 2 bits {or 1/4 dollar})
* bit meaning some amount of data (e.g., the first bit of the version field is 0)
* bit meaning strength of a cryptographic algorithm (e.g., 256-bit ECDSA is used in Bitcoin)
The first is a bit dated and isn't likely to confuse people dealing with Bitcoin. The second and third are computer science terms and context should be sufficient to figure out what the user of the word means.
@ -54,4 +54,4 @@ The first is a bit dated and isn't likely to confuse people dealing with Bitcoin
This BIP is licensed under the BSD 2-clause license.
== Credit ==
It's hard to ascertain exactly who invented the term "bits", but the term has been around for a while and the author of this BIP does not take any credit for inventing the term.
It's hard to ascertain exactly who invented the term "bits," but the term has been around for a while and the author of this BIP does not take any credit for inventing the term.