Bitcoin Forum

A gram of gold is 0.035274 oz. A gram is the minimum unit commonly traded. The minimum bitcoin transaction is 0.0000543 BTC and should have a name as well. This minimum unit is most commonly used for creating contracts.

AFAIK its called Dust :P

The problem with naming it though is that what is considered Dust can (and has in the past) change.

I would call it something sexy, like "rocks". When you buy stock in a company and the company doubles its valuation, often they will split your stock to reflect that. If the satoshi minimum requirement is halved due to Bitcoin valuation, then you break the "rock" in half and now have two "rocks" with the same purchasing power.

5460 Satoshis in fact, not 5430.

I think this amount can be another in the times to come. I remember the fee at my blockchain wallet and bitcoin core wallet two years ago. Were higher than today. In this way if it will be a bilateral name choice may be useless after some time.

And yet stocks do exactly this and nobody complains.

I am not complaining. I would be willing to pay much higher tx fees for convenience that Bitcoin gives me. I mean to send money anywhere in the world in 10 minutes, and that other side can have it for spending in about 10 minutes, that's just amazing and it needs to cost money. I don't see a problem to pay $0.2, $0.3, even $1 for higher amounts that I would sent.

But we already have satoshi, bits, mbits, etc. Why do we need more name?

Exactly... It will just add to the confusion. And why match ourselves with gold?

The minimum transaction is not 1 satoshi?
and the minimum tax as the much wallet accept is not 10k satoshi?!?

I used some faucets which paid me 2500 satoshi  even 1000 satoshi also I received as direct payment into my bitcoin address. I guess that 5430 satoshi was the old limit for dust definition.

It's a suggested limit. Miners can add anything they want, but it is rare that small transactions aren't spam.

I don't think it should have a name at all.

Just leave it how it is.

None of those names add any useful information. Saying something is 1 kilometer or 1000 meters is saying the same thing. Saying you have 1000 dollars worth of stock says nothing about the value of the company. Saying you have a share means you have a minimum stake in that company no matter the valuation. Bitcoin has more properties than simply a commodity that can be measured metrically. Bitcoin must also be measured by its relative valuation. That relative valuation is its usefulness to transact contracts securely and cheaply. If all you think bitcoins are good for is being valued in dollars, then the metric system is all it will be.

FYI there is no 1g limit of any kind when it comes to gold. Fractional bars ranging from 0.025-0.5g from Nadir refinery were pretty popular back in the days.

Here's an example of 0.1g bar:

http://i.ebayimg.com/00/s/NjQ4WDg2NA==/z/dqEAAOSwstxU~J1l/$_1.JPG

More useful as a key ring rather than investment though.

i would call it "minibit", if you're are really looking for something

Right, but they are weighed in grams, not ounces. Who would buy something that is 0.00088184905 ounces or 5.511557e-5 lbs. of gold? But again, that's not the point.

Lame! (with due respect)

In spirit of, or paying homage to the Byzantine Generals' Problem-cum-Byzantine fault tolerance (https://en.wikipedia.org/wiki/Byzantine_fault_tolerance), I suggest one of the following:

Byz
Byza
Byze

Akin to fish, "byz" is both singular and plural.

18,315 byz = 1 BTC

Pronounced "biz" (bĭz) as short for business.

I agree, don't name it.  I don't even like mBTC.  Just satoshi for anything less than a full btc or simply write it out to the decimal.  No confusion that way, is there?

Back in the days there were people hoarding those things, convinced that .1g bar would buy them a yacht today. Food for thought.

So a base unit that defines assets not denominated in bitcoin (like gold) is not useful? Of course bitcoin traders have little use for this, but contract users have no base unit for trading other assets. They are forced to multiply by 0.0000546 BTC or use the term "dust" which is unmarketable.

Well then fucking call it a minB, for the minimum btc amount for all I care.  But there are way, WAY too many units of measure in this world and the conversion factors become a nightmare after a while--or at the very best, an unnecessary inconvenience.  And besides, that amount (0.00005460 btc) is not a fixed amount, am I right?

5460 satoshis of #bitcoin isn't a form of dirt. It is a useful unit and needs love. #bitcoindustmatters  ;D

https://bitcointalk.org/index.php?topic=1199286.msg12594269#msg12594269

Don't let your Biz miss out on a single byz! Accept Bitcoin. Byz' matters!

http://images.inc.com/incmagazine/toc/04-14/INC0414_cover.jpg

BYZ would also make for a fine periodical name specifically catered to the business aspect of Bitcoin.