Bitcoin Forum

Hey everyone,

I started getting into Bitcoin in late may and built a mining rig.  I ran 2x7970's and a 1200w PSU for a few months and it was a lot of fun.  I eventually sold the GPU's and PSU and bought block erupters instead.  Those are still chugging away nicely in my room.  The light show is nice at night.   :)  I am an iOS software developer and am currently working on developing a Bitcoin app.  Hopefully something that will be useful to people like me who knew nothing about Bitcoin but wanted to get involved.  It will be free of course.  :) 

I recently had an idea.  As Bitcoin continues to rise in price (Hopefully), people will want to buy pieces of Bitcoins as opposed to whole Bitcoins.  I believe that it would be helpful to have an easy to remember naming system for fractions of Bitcoins.  I am not sure what the fractions are called now, (I know there is a Satoshi).  If someone could let me know or point to where I could find out it would be greatly appreciated.  So TL;DR my proposal is to institute easy to remember names for fractions of Bitcoins.  Like how we have pennies, nickels, dimes etc.  All feedback will be appreciated.  Looking forward to be apart of this forum :)

https://en.bitcoin.it/wiki/Units

exisis

Thanks Guys.  I knew they existed.  However, I'm proposing that they be named things that are easier to remember, I guess like pennies, dimes, nickel, etc.  Looking at it from a non geekish standpoint those names would intimidate me a bit if I wished to buy, but other catchy names like the ones we have for coins would seem a bit less harsh.  Maybe I'm just talking Noncents (sorry for the bad pun) but I had the idea and figured I'd share.   

really?

milli and micro are hard to remember?

folks don't seem to have much trouble with kilo or mega

It's not an outrageous proposal. I can't find the link now, but somebody on Reddit was recently advocating the use of the Satoshi as the main bitcoin unit rather than citing fractions of BTC/mBTC. I personally couldn't get used to saying e.g. "5m satoshis".

The problem is that they don't sound like something that refers to a currency.
Have you ever heard anyone talking about centidollars or millieuros  :P :P

true... but its just as weird as cryptocurrency was a year ago... but still new names would be better ...

Bollars (1), bents (0.01), bundies (0.0001), biddies (0.000001), satoshis (0.00000001) ;D
Skip a decimal place because it is easy to keep track of 100 of something (100 bents = 1 bollar).

This would be a good idea.

I've personally always liked:

millies (or mils, or millibits) for 0.001 BTC

and

mickeys (or mikes, or microbits) for 0.000001 BTC

and

nans (or nanos, or nanobits) for 0.000000001 BTC

That way:


1 BTC =
1,000 millies
1,000,000 mickeys
100,000,000 satoshi
1,000,000,000 nans

1 millie =
0.001 BTC
1,000 mickeys
100,000 satoshi
1,000,000 nans

1 mickey =
0.000001 BTC
0.001 millies
10 satoshi
1,000 nans

1 satoshi =
0.00000001 BTC
0.00001 millies
0.01 mickeys
10 nans

goodness no, if you are going to do away with standard prefixes at least skip 2 decimal places so the literate among us can convert easily

jeebus people, its just the metric system  ::)

Thats pretty confusing names, BTC, mBTC, uBTC are pretty strainghtforward to understand, no need for new confusing names

Avoid mining, just invest?

No one is saying to do away with metric. The question is: if you had to design an alternative naming scheme, what would it be? Keep retarded Americans in mind, who would rather have cool slang for their money than a system that makes sense. I am not saying the names I suggested earlier are good; I was just throwing them out there.