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Title: Bitcoin named denominations Post by: Murderous_wabbit on February 10, 2013, 11:05:45 PM Are there multiple named denominations for Bitcoin?
1.00 = 1 Bitcoin 0.25 = 1Bit quarter?? 0.10 = 1 Bit dime?? 0.05 = 1 Bit nickle?? I think I have seen millibit referred to on the forum, but not sure to the amount it is associated. Title: Re: Bitcoin named denominations Post by: mpfrank on February 10, 2013, 11:11:08 PM Are there multiple named denominations for Bitcoin? 1.00 = 1 Bitcoin 0.25 = 1Bit quarter?? 0.10 = 1 Bit dime?? 0.05 = 1 Bit nickle?? I think I have seen millibit referred to on the forum, but not sure to the amount it is associated. A millibitcoin or mBTC would be 0.001 BTC, one thousandth of a Bitcoin. A microbitcoin or uBTC would be 0.000001 BTC, one millionth of a Bitcoin. A "Satoshi" is the smallest Bitcoin unit, it is 0.01 uBTC or one hundred-millionth of a Bitcoin. Title: Re: Bitcoin named denominations Post by: bradyon on February 10, 2013, 11:13:17 PM As far as I know, the common fractions are:
bitcent 0.01BTC millibit 0.001BTC microbit 0.000001BTC satoshi 0.00000001BTC Title: Re: Bitcoin named denominations Post by: Murderous_wabbit on February 10, 2013, 11:40:56 PM thank you both!
so for now, I guess I will refer to: .05 = 5 bitcents .10 = 10 bitcents .25 = 25 bitcents when offering promotions Title: Re: Bitcoin named denominations Post by: skibum on February 11, 2013, 12:17:29 AM so for now, I guess I will refer to: .05 = 5 bitcents .10 = 10 bitcents .25 = 25 bitcents Makes cents ;-) Title: Re: Bitcoin named denominations Post by: Stephen Gornick on February 11, 2013, 01:36:24 AM so for now, I guess I will refer to: .05 = 5 bitcents .10 = 10 bitcents .25 = 25 bitcents when offering promotions millibits is more commonly used. Online gambling services like BitZino and others are all at the millibits denomination. Ogrr has been using millibits as its currency unit for trades there for quite some time. While bitcents isn't wrong, it probably isn't best. But hey, this is bitcoin Do what you want. - http://en.bitcoin.it/wiki/MilliBit Title: Re: Bitcoin named denominations Post by: Murderous_wabbit on February 11, 2013, 02:46:23 AM thanks, I will use the millibit denomination from here on out.
I believe that the way Bitcoin prices have been rising, millibits will be the only denomination that makes sense when talking about prices in Bitcoin for online goods and services. Title: Re: Bitcoin named denominations Post by: skibum on February 12, 2013, 07:51:42 AM thanks, I will use the millibit denomination from here on out. Makes better cents ;-) Title: Re: Bitcoin named denominations Post by: GambitBTC on March 29, 2013, 05:49:37 PM thanks, I will use the millibit denomination from here on out. Makes better cents ;-) HAAAAA ;) Title: Re: Bitcoin named denominations Post by: xacobe97 on March 29, 2013, 05:57:59 PM I always use mBTC (0.001) and uBTC (0.000001). Btw i didn't know the Satoshi's denomination
Title: Re: Bitcoin named denominations Post by: BigJohn on March 29, 2013, 07:10:02 PM I've been wondering why it's named Bitcoin if every sci-fi movie I grew up on always called future money Credits.
Title: Re: Bitcoin named denominations Post by: ABitBack on March 29, 2013, 07:20:26 PM If its a global currency we don't want to copy the Americans. It need to be something unique and globally accepted.
Title: Re: Bitcoin named denominations Post by: Atruk on March 29, 2013, 07:21:08 PM I've been wondering why it's named Bitcoin if every sci-fi movie I grew up on always called future money Credits. Because we are conducting trade with the asset rather than debt, also known as credit. Title: Re: Bitcoin named denominations Post by: BigJohn on March 29, 2013, 07:22:52 PM But in essence that's what it is right? You have credit against the Bitcoin network. It's not like Bitcoins are actual coins or a token for a coin. It's just an entry in a ledger that says you can spend however many satoshis.
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