Probably been suggested before but: Use bits not satoshis. sats are too small. Long term, bits will be like dollars, sats like cents. Standard should be to denominate everything in bits.
I disagree with this. I think sats are fine.
Just as I pay three dollars for coffee, not 300 cents, I would prefer to tip five and a half bits rather than 546 satoshis...
The problem is that you will have to pay like 5 satoshi for the coffee once Bitcoin is widely established, because of the drastic value increase that comes with.
I can see 1 bit getting closer in value to $1 in the future, but 1satoshi = $1 is... far off...
And what's the problem here?
That the high value would pretty much render "bits" useless since you could use satoshi like you use USD
If that actually happens we would have to change the protocol to add more digits, for divisibility... Then the whole paradigm would have to be changed anyway.
In any case, the bit~dollar, sat~cent paradigm is more than sufficient for the foreseeable future...
There have been a few different denominations requested. I'm not sure which BCH will settle on. Thanks for your suggestion.
Bits sounds so much better.
Alternative future suggestion : satoshis will be like satoshis, 1 Bitcoin like 1 Bitcoin and everyone will forget about dollars :)
For bitcoin to be widely used in commerce, we need to adopt a standardized unit of account ASAP. People are used to the $1=100cents paradigm. We should strive for bit~dollar, sat~cent.
