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Bitcoin “Bits” Denomination Suggested in Bitcoin Improvement Proposal
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Bitcoin developer Jimmy Song has encouraged for the use of “bit” for simpler Bitcoin denominations, proposing in BIP 176 published in December 2017 that the denomination be formalized. BIP 176 calls for Bitcoin amounts to be denominated in bits, where 1 bit = 100 satoshis or BTC 0.000001.
Read the full article at https://bitcoinnews.com/bitcoin-bits-denomination-suggested-in-bitcoin-improvement-proposal/