Bitcoin Forum

The contest to propose a name for the 0.0001 BTC unit continues! Details below....

Please read carefully:

The name list in the poll is set in stone. The primary criteria that held sway was the number of recommendations (including duplicate or similar submissions) for each name, followed by terseness and marketability. That said, I thought some of the suggestions that didn't make the cut were pretty good, but these to some degree or another seemed to spark more interest from the community.

So... please go ahead and vote for whichever name you feel is "best", based on your own personal criteria/preferences/etc. You also get a second vote if you want to throw your weight behind another name in case your first choice doesn't get into the final four (I strongly recommend doing so.) Note that you will not be able to change your votes! Feel free to comment on the choices, or to make the case for one choice over others. As usual, please stay on topic, etc.

Voting will be closed and the thread locked at 23:59:59 CST (GMT-6) on Wednesday, January 8. Shortly thereafter the final poll presenting the final four names will be posted. The final four will be chosen from the highest-voted names that are not found to be obviously flawed (see first thread (https://bitcointalk.org/index.php?topic=396522.0) for examples.)

One final thought: keep in mind that a name for the unit wouldn't necessarily be used as-is; variations of it, or even abbreviations or prefixes derived from it could just as well take hold.

With that, we're off. May the best name win!

Such a difficult decision!

When said aloud "3 bits" as apposed to "3 bitskis", bit ended up sounding the best. Reminds me of a 'buck'. 3 bits, 3 bucks.

Bitski, braski!!

I also like minicoin and maybe littleshit, I mean littlebit (funny!).

1 Nakamoto could be shorted to 1 Nak or 1 Naka just like 1 Satoshi will probably be shortened to 1 Sat.

Disclosure:  I am talking my own book  :D

+ 100

how about a "bleiber"   :P

All bad - just stick with 0.0001

Not keen on any of them really, I would prefer grambit as a viable name, none of these here are easy to the ear.

+1000

There were a few really good ones and none of them are in the poll?

"Shave and a haircut, two bits"

A bit is about 12.5 cents in US money before the decimal system did away with it. Prior to that, one bit was 1/8th of a Spanish dollar. See pieces-of-eight.

When bitcoin peaked, 0.0001 btc would have been on par with the US bit.

Do we really have to give names to all 8 decimal points? I thought bitcoin was supposed to make our lives easier .....

I agree that each decimal place doesn't really need its own name.  For me 0.0001 BTC is either 0.1 mBTC (millibitcoins/millibits/em-bits/em-bitcoins - whichever you fancy) or 100 uBTC (microbitcoins/microbits/u-bits).  That being said I chose decimillibit since it follows the same format.

Did you honestly say "decimillibit"? ;) ..... this is how silly this debate is. We are trying to invent words that nobody can spell or say .... when we have numbers already.

As I said I do not think any new names are necessary but that is not a choice in the poll.

Bitcoin/Bit/Satoshi is the way to go. Each range of 4 decimal places will cover 10,000 units, which is easy to remember, and the names are easy to say. And look at this beautiful little thing below. You can express this whole naming scheme in two lines!

1 Bitcoin = 10,000 Bits
1 Bit = 10,000 Satoshis

Simplicity. Marketability. Roll-off-the-tongue-ness.

No. You missed the point of the poll. The point is to do away with naming each decimal place by naming just the 4th since it is the midpoint of the range. We already have Bitcoin for the whole unit and Satoshi for the 8th place. So we can move forward with just three names that will help people to more easily deal with the smaller units.

We'll express values as 50 bits, rather than the bewildering .00500000 bitcoins. This could be used as the new standard unit for everyday transactions. This one name is all we'd need for a very long time since it covers a range of 10,000 units. The benefit of such a naming scheme is that we'd almost always be dealing in whole numbers. Whole numbers are more visually appealing and there's much less of a chance of missing a decimal place and sending a costly erroneous payment.

At the current exchange rate, you can buy 10 bits for $1. So the BIT price would be displayed as $.10 rather than a BTC price of $1000. Many people see this as a refreshing step forward in terms of simplicity and marketability. If the exchanges adopted this scheme, many think that the $.10 price would make it much easier for people to buy in as, again, they'd be dealing in whole numbers of the named midpoint subunit rather than fractions of the main unit.

We are stuck dealing with the smaller units, so why not make it as simple as possible by just naming the 4th place so we can quote prices and payments in convenient whole numbers?

1 finney!!

OK fair enough, but good luck on the community ever deciding on a name :)

And also, as the price of BTC increases, if we go the naming route, we'll probably have to name all the other buggers as well ;)

Agree with that. None of the names are short and easy to remember.

That was pointless, why not just poll all the entries?

Agree, all those suck.

Babybit BTW.

+1

We have a winner?

Don't like it for a few reasons but many one is if someone said "That will cost you a bit" you wouldn't know what they meant ..... you need a word that doesn't have a prior common meaning

Exactly, it would need to be a word with no prior common meeting however unfortunately the ones there are in the list are not particularly good  :(

i don like all these name :(

The name for 10k satoshis (or 1/10k bitcoins) should be myriabits (from myriad meaning 10 thousand). It's poetic, symmetric, concise and clear (except, admittedly, liable to be confused with millibits).

-- FK

I still argue that the canon name was the correct name and that is the one based off Tonal Bitcoin or 1 Tonal is a Bitcoin-Bong
https://en.bitcoin.it/wiki/Tonal_Bitcoin

So regarding its marketing it should be consistent with the principle but I digress

That said of this list the first bitcoin transaction occured between Satoshi and Hal Finney so goes with the Finney

The nice thing with the 10,000 factor is, we have already another one for the upper side (although it sounds more slang than offical):

1 Pizza = 10,000 Bitcoins

Agreed but should be shortened to slang for Pizza = 'Za'

"That whale owns a Za".

I can only pick sbit, but I'm not so clear what 's' mean?

They're all shite.

One tenth of a millibit.

absurdobit

mBTC has too much momentum already, I think.

.00000001 BTC = 1 satoshi
.0000001 BTC = 10 satoshi
.000001 BTC = 1 uBTC (micro)
.00001 BTC = 10 uBTC
.0001 BTC = 100 uBTC
.001 BTC = 1 mBTC (milli)
.01 BTC = 10 mBTC
.1 BTC = 100 mBTC
1 BTC = 1 BTC
10 BTC = 10 BTC
100 BTC = 100 BTC
1.000 BTC = 1 kBTC (kilo)
10.000 BTC = 10 kBTC
100.000 BTC = 100 kBTC
1.000.000 BTC = 1 MBTC (mega)
10.000.000 BTC = 10 MBTC



Why make it harder than needed?

0.0001 = default transaction fee = DTF

decimilibitcoin, abbreviation: "decimil"

This.  1/100 and 1/10000 are not typical units used in science - everything is 1000 based not 100 based.  It's confusing.  We should just stick to BTC and satoshi and metric units derived from this exactly like the above.  This poll has no meaning or official recognition and will go nowhere.

Will

1 bitbit = 0.0001 BTC            <-should be easy enough to remember
1 nakamoto = 0.000001 BTC

I didn't vote because there wasn't an option for "Don't name it at all."

I am seriously opposed to all naming and converting of Bitcoin decimals to other formats other than simply 0.0001 BTC (Point Zero Zero Zero ONE BTC) or ONE TEN THOUSANDTH of a Bitcoin. It really helps put into perspective the value of the amount being offered and eliminates any confusion.

When you start saying millibits, billybits, bips and all this mess then people will disagree. How hard is it to understand that 1 Bitcoin has 1 Million Bits? Why should we name 5000 Bits something and name 10000 Bits something else?

It would make more sense to call 0.00000001 BTC a BIT, but there is already a name in honor of Satoshi.

So if anything, 0.0001 should be called 10,000 Satoshis which sounds way cooler than anything else on the list.

+1 for Bits and Satoshis

1 bitcoin
.001 bit dollar
.0001 bit pennies

or

1 bitcoin
.001 millicoin
.0001 microcoin?

3 bits just sounds so plain though, and can be confused with 3 tits!

I like bitski!

I like this, but the amounts wouldn't make sense to people in terms of most transactions, buying a coffee would cost 100 bits ?

Well, shit why not? Certainly at least 100 units of value can be extrapolated from a cup of coffee, right? maybe 10 units for the cup, 10 units for the water, 50 units for energy consumption, 30 units for service.

Yes.

I hate all these names, and I also hate the idea of making 10^-4 special.  It's not.  Just say "one tenth of one millibitcoin."


Microcoin is a horrible idea, since micro implies 10^-6.

It's considered a small purchase, so it's kind of a clusterfrack for most people to call it 100 of a currency, therefore we need something like 'bitdollars' or 'bitpennies' that represent 100 of them.

Then again if we ever reach the point where people regularly buy coffee with bitcoin around the world, maybe 10 bits will really be what it takes to buy a coffee.

Alright, I still like my names better than 'millibitcoin' though.

10 KiloBit?

http://bitcoindenominations.org/

Corrected that for you.

or 1000BTC = 1 Megacoin...  :o

lol

It must be the thousandth thread about naming a bitcoin subunit, yet the answer will still be "there will be no name for this unit, and even if one will be used it won't have been decided from this thread"

I kinda like the finney though, we owe Hal so much...

I prefer 0.1 millibit or 100 microbit

but if you want to give it a name, chose for

1 decimilibitcoin / decimilibit / decimili / decimil
or
1 hectomicrobitcoin / hectomicrobit / hectormicro

These are all kind of bad imo. I'd rather just have microBTC (uBTC).
I've also heard the term bitcent around, and I think that sounds the best.

But that would also be ridiculous...it would be kBTC or killibitcoin...mega is 10⁶ of a quantity, or one million bitcoins.

Why can't we just use SI? These names already exist for a reason.

Let's call it a facgtthunlu

+2 facgtthunlu

This

Well the goal should be marketability and catchiness, not what is mathematically correct. People put a lot of research into choosing titles of books and movies for a reason, it's because the name can have importance in how much people value it. Milibit is not catchy.

Guys! And girls offcourse  :D
Stop making stuppid names..  >:( There is no need for more names!  ;)

.00000001 BTC = 1 satoshi
.0000001 BTC = 10 satoshi
.000001 BTC = 1 uBTC (Micro)
.00001 BTC = 10 uBTC
.0001 BTC = 100 uBTC
.001 BTC = 1 mBTC (Milli)
.01 BTC = 10 mBTC
.1 BTC = 100 mBTC
1 BTC = 1 BTC
10 BTC = 10 BTC
100 BTC = 100 BTC
1.000 BTC = 1 KBTC (Kilo)
10.000 BTC = 10 KBTC
100.000 BTC = 100 KBTC
1.000.000 BTC = 1 MBTC (Mega)
10.000.000 BTC = 10 MBTC

Why should it be centered around the 1.00000000 (100000000) instead of 0.00000001 (1)?
Bitcoin is storing the value as integer anyway.

_______________________________________	_______________________________________
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯	¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯
00000000.00000001 = 1 satoshi	(1 s or 1 sat)
00000000.00000010 = 10 satoshi	(10 s or 10 sat)
00000000.00000100 = 100 satoshi	(100 s or 100 sat)
00000000.00001000 = 1 kilo-satoshi	(1 ks or 1 ksat)
00000000.00010000 = 10 kilo-satoshi	(10 ks or 10 ksat)
00000000.00100000 = 100 kilo-satoshi	(100 ks or 100 ksat)
00000000.01000000 = 1 mega-satoshi	(1 Ms or 1 Msat)
00000000.10000000 = 10 mega-satoshi	(10 Ms or 10 Msat)
00000001.00000000 = 100 mega-satoshi	(100 Ms or 100 Msat)
00000010.00000000 = 1 giga-satoshi	(1 Gs or 1 Gsat)
00000100.00000000 = 10 giga-satoshi	(10 Gs or 10 Gsat)
00001000.00000000 = 100 giga-satoshi	(100 Gs or 100 Gsat)
00010000.00000000 = 1 terasatoshi	(1 Ts or 1 Tsat)
00100000.00000000 = 10 tera-satoshi	(10 Ts or 10 Tsat)
01000000.00000000 = 100 tera-satoshi	(100 Ts or 100 Tsat)
10000000.00000000 = 1 peta-satoshi	(1 Ps or 1 Psat)
20999999.97690000 ~ 2.1 peta-satoshi	(2.1 Ps or 2.1 Psat, it's already beautiful!)
_______________________________________	_______________________________________
¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯	¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯¯

So I think this is the future-proof way to go.

This

"bit" will never catch on for this unit, without context it is not specific enough to be clear what is meant by "bit". so it becomes useless to have this unit and still often be providing the context that we are talking about sub-units of BITCOIN.

However, for example "satoshi" and "finney" are specific enough that can be used without the context (only context is something countable) and everybody knows what they are.

Furthermore, if

1 XBT = 10,000 finneys
and
1 finney = 10,000 satoshis

and both sub-units are derived from people names
...it's perfect.

It's obvious, it's going to be finney.

call it a radeon!

Then 4100 BTC should be one "Tradefortress" and 6000 BTC one "new forum."

i like the bitdime

It appears that most names in the poll are inadequate.

I'd call the whole thing void and start over with proper contenders - grambit is a great name - why was it not included.......

I don't think the name should have the syllable “bit” in any way, considering that it will be confused with “bitcoin” itself. That's why I voted for finney and man.

On the other hand, if we did want to have “bit” in the names, then we should just stick to SI prefixes.

That really sums up the utility of using this particular break (0.0001 BTC), and bits is just the simplest, most useful sounding term for it... it even was once used to specify US currency at almost the current value (12.5 cents, right?)  This should be the quick intro, and for anyone wanting the long justification, hit the old reddit thread about it: http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/ (http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/)

(emphasis mine) That must be a good coffee, at around $10 USD, but check this out, a cheap cup of coffee, around $1 USD, costs around 100 Japanese Yen.  People can be cool with that.

I agree, I would have voted for these, if they were in the poll:
- Yorozu
- Myriad
- Genesis

and "Yorozu" and "Myriad" both actually mean "ten thousand"
(I doubt the OP actually looked them up before discarding them)

I would have thought the 3 above should at least be better than "minicoin/pbit/sbit"??

Too bad... but this poll is only for fun anyway...

In the end, none of this is going to matter.

The entrepreneurs / startups / businesses which are building services on top of Bitcoin are going to decide how things are named.

And I am willing to bet they will simply find a way to put a different "Mask" on the "0.0002893298" display.   

It will look easy, simple, basic, and catchy to understand.

Its those parties which will be coming up with the marketing for Bitcoin.

I'm sorry, but "myriabits" is pretty awful as well. This is more like a thread for "worse names we can think of" than "best ones"

I think these names are a tad confusing - the name should definitely include 'bit' but there are no serious contenders in this poll - most borderline on idiotic  :)

AWW my "dbit" entry isn't here !!

I believe the market has already settled with mBTC/uBTC. Quite frankly, it is the only logical way.
So, we can be "less logical" when putting a name to 10000 satoshis  ;D

Less than 48 hours left; over 170 votes so far.

Mili bit, micro bit etc.. I think something like that is the best.

I'll vote this option  ;D

So what? This isn't a community vote. Just someone decided to run a poll. It will be forgotten the day after it closes. Sorry :)

I don't like this poll. Poor choices.

How about someone start a thread for suggestions that should be on the next poll which is, I hope, endorsed by Admins.

What about dont make a new poll? And stick with the names we already have (Satoshi, uBTC, mBTC, BTC, kBTC and MBTC)  ;D

Admins don't rule the bitcoin world

consensus rules the bitcoin world, and 170 votes is not anywhere near consensus.

This vote, and the idea of trying to 'decide' a name for a meaningless unit of bitcoin just needs to die.  As others have said, if you absolutely can't handle long decimal places, then stick to micro and milli.

Will

I vote to call it a "US Dollar"

why limit it to $10000 a coin??

How about we don't run another poll for choice of name. I've seen 3 in the last 3 months. What happens after? Zilch

I think we do need a name for each decimal place although a good one - of which there are none in this 'poll'

This poll shows we can't agree on a decent name for one of them. What chance the other six?

Nice one ! I agree. hahaha

Just under 24 hours left, although it looks like the names of choice for the final four are likely settled. The final poll will be only one vote per voter, and will determine the prize winner for the contest.

1 nakamoto should be next to 1 satoshi if we end up naming all the possible decimal places.

And that's a wrap! Poll is locked; final poll should be up momentarily.