Bitcoin can be divided into smaller amounts as follows:
- 1 BTC = 100,000,000 satoshis
- 1 BTC = 1,000,000 bits
- 1 bit = 100 satoshis
And in the future… 1 bit = 1$, right?
Bits fit into all existing financial software with two decimal points of precision such as EVERY other form of money. Easy to understand without having to get used to weird zero prefixes.
I think “bit” is a perfectly good way to describe the unit, in the same way people say “buck” for dollar. It’s not necessary to call it by some mathematically precise name, rather what’s easily adopted – which some wallets already have.
