Anyone who has worked in carpentry or any other trade knows the old saying "Measure twice and cut once". Measurements are important and they help us make practical decisions in our daily lives. As an American I know what a 2 Liter of Coca Cola is, a gallon of milk means, an ounce of gold feels like, a barrel of oil contains (44 gallons of oil I used to work on the oil field), a cup of flower makes, and a foot of yarn looks like. These measurements aren't just theoretical numbers; they mean something to me. Just by saying I spilled a gallon of milk I know that you had to get a mop to clean up an unfortunate mess. 

There is a debate going around the internet if we should measure Bitcoin in Bits or Satoshis. I think that is a mistake, we need multiple ways to measure Bitcoin to help make it more practical in people's day to day lives. 

Ridiculous Measurements

One Bitcoin is worth about 19,000 US Dollars or the cost of a decent used car. A Satoshi (or Bit) on the other hand is an infinitesimally small amount of Bitcoin that at this time has no practical use (1 Satoshi equals 0.00019 US Dollars). Even if Bitcoin reaches one million US Dollars (and not one million hyperinflated US Dollars I mean today's Dollar value) a Satoshi would still only be worth one penny or 0.01 USD. Can you imagine Bitcoin reaching one million Dollars and either talking in units of Satoshis or units of Bitcoin? It would be absurd. And what happens if the Lightning Network takes off and lot's of people start having units of Bitcoin in their wallet that are smaller than a Satoshi? Do we call those Satoshis and just make the Satoshi even smaller than it already is? 

This is a headache

 We need some more practical ways to measure Bitcoin. I am comfortable with talking about ten percent or one percent of a Bitcoin but anything much smaller than that and it becomes tedious really fast. I also like talking about the Satoshi when I want to explain how Bitcoin breaks down into really small pieces or I am just referring to some "Bitcoin dust". In the future, I may even refer to Satoshis when buying some chewing gum; it would probably cost 25 Satoshis. If Bitcoin ever takes over the world economy I don't want to buy a 3 course meal for my wife at a fancy restaurant and have it cost 15,000 Satoshis; it's tedious.  

My Suggestions

The first 2 decimal points can still be in Bitcoin; I think most people can handle 10 percent of a Bitcoin or 1 percent of a Bitcoin; you are only going to the right of the decimal point 2 digits. I think going up to 99 Satoshis is fine because it's an easy way to deal with a small amount of Bitcoin. If anything smaller than a Satoshi takes off (like in the Lightning Network) we need a new name for it. How about a Kidtoshi? 

This leads us to 4 decimal places that are right in the middle that could use use some names to help make future usage easier. I think at this point we could utilize the "Bit" and have 100 Satoshis equal one Bit. If Bitcoin reaches one million USD it will be worth One Dollar and at today's value it's almost worth 2 cents. It's a bit of Bitcoin! But I think there should only be 2 bits or rather bits should only take up 2 decimal places.

Decimal points 3 and 4 need their own name as well. How about naming it after Hal Finney? Call it a Finney of Bitcoin? At today's price that is almost 2 USD worth of Bitcoin and if it ever hits 1 million Dollars it will be the equivalent of 100 Dollars!   

To make this easier to understand just like at my chart.

Another suggestion I have is more Bitcoin wallet developers. Right now Bitcoin is always like this 1.40300501 but it could always be changed for easier viewing and be more like this 40,300,501 and 1 Bitcoin. I think wallets could offer both views and that if Bitcoin will ever experience mass adoption we must find an easier way to display it to people. 

Please let me know what you think in the comments below and if you like any of my ideas please spread the word around Crypto Twitter and Bitcointalk.org. 

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