Follow Nikolaus On 𝕏 Here For Daily Posts
John Carvalho, a long-time Bitcoiner, has introduced a new Bitcoin Improvement Proposal (BIP) to address the unit bias issue faced by newcomers to Bitcoin. The proposal aims to redefine the commonly recognized “bitcoin” unit so that what was previously known as the smallest indivisible unit becomes the primary reference unit.
Under this proposal, one bitcoin is defined as that smallest unit, eliminating the need for decimal places. By making the integral unit the standard measure, this BIP seeks to simplify user comprehension, reduce confusion, and align on-chain values directly with their displayed representation. The display of units of bitcoin would shift from its current state to this: Current: 1.00000000 BTC → New: 100000000 BTCCurrent: 0.00500000 BTC → New: 500000 BTCCurrent: 0.00010000 BTC → New: 10000 BTC Historically, 1 BTC = 100,000,000 base units.
Under this proposal, “1 bitcoin” equals that smallest unit. While Carvalho’s proposal addresses the unit bias issue, some argue that it may not be the best solution. They believe that this thinking is short-sighted and doesn’t work in the grand scheme of things. Some also argue that this proposal would add more confusion rather than solving it.
Others argue that this proposal is a waste of time and energy for Bitcoin developers, who could be focusing on other tasks that would add actual value to Bitcoin. They also point out that changing the way units of bitcoin are displayed would create confusion and slow down adoption. This article is a Take.
Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
Source
Source
