Bitcoin : BIP draft from [bitcoin-dev]: Suggestion for a universal bitcoin value scale (color codes)
A universal bitcoin value color scale is presented here as a way to creating an easy visual aid for insuring correct amounts in transactions.
The motivation behind this BIP is in line with BIP 176 by Jimmy Song. The bitcoin price has grown over the years and once the price is past $10,000 USD or so, bitcoin amounts under $10 USD start having enough decimal places that it’s difficult to tell whether the user is off by a factor of 10 or not. This proposal is a supplement to the BIP 176, utilizing the digital nature of bitcoin, to allow a visual aid in the bitcoin transactions. This is doing to insure a common understanding of the amount in question between the parties trading.
Potential benefits of utilizing ” A universal bitcoin value color scale” include:
1. Reduce user error on bitcoin amounts.
2. Allow easier comparisons of prices for most users.
3. Using a visual aid makes transactions easier for people with dyscalculia.
4. Allow easier bi-directional comparisons to altcoins and fiat currencies.
Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority.
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