bitcoin-dev

[BIP Proposal] Redefinition of the Bitcoin Unit to the Base Denomination

[BIP Proposal] Redefinition of the Bitcoin Unit to the Base Denomination

Original Postby George Burke

Posted on: December 13, 2024 15:09 UTC

George Burke raises concerns about the implications of redefining 1 Bitcoin (BTC) into smaller, more inexpensive units for broader adoption.

He questions the potential impacts on global mindshare, considering how such a change might affect the existing body of knowledge—including social media posts, articles, books, and videos—that reference current denominational units. This body of work could become bifurcated, leading to confusion or misinterpretation of historical data and discussions surrounding BTC's value and transactions. George's inquiry stems from a proposal discussed within the Bitcoin Development Mailing List, highlighting the need for careful consideration of psychological and informational ramifications when contemplating significant changes to cryptocurrency denominations.

For further information on George Burke's projects and contributions to the Bitcoin community, visit Portal, Silicon Valley Bitcoin, and FounderPool. Additional security measures and contact information can be found through his Keybase profile and OneName page.