Bitcoin Forum

The last leg of the contest to propose a name for the 0.0001 BTC unit is now underway. Details follow...

Please read carefully:

The four highest-voted names from the prior poll are up for voting. You only get one vote, and again, your vote cannot be changed. At the end of the voting period, the highest-voted name will be declared the winner, and the submitter will be contacted to receive their 0.1 BTC prize.

In the interest of time, the voting period will be roughly 48 hours. The voting on this poll will be closed at 23:59:59 CST on Friday night, January 10.

It's otherwise pretty straightforward, but anyone interested can review the original thread (https://bitcointalk.org/index.php?topic=396522.0) and the first poll (https://bitcointalk.org/index.php?topic=400611.0).

For those curious about each name's origins:

bip - This name stems from the financial term "basis point (http://)". With a bp being 1/100 of 1%, numerically it works out to the same fractional amount, even though it has a different meaning.

bit - The original monetary bit (http://en.wikipedia.org/wiki/Bit_%28money%29) referred to an amount commonly used in the colonial U.S., specifically 12.5 cents (1/8 of a Spanish dollar from the era.)

finney - This name was suggested in honor of Hal Finney, whose noteworthiness with regards to his contributions to Bitcoin and cryptography in general can be explored in this (https://bitcointalk.org/index.php?topic=155054.0) thread (and is summarized in his wikipedia page (http://en.wikipedia.org/wiki/Hal_Finney_%28cypherpunk%29).)

nakamoto - Obviously a complementary name to "satoshi."


With that, the final poll of this contest begins; vote away, and again, may the best name win!

I have no idea why people would vote for bit when it is commonly known as an eighth of something.

.0001 is not an eighth.

toshi  :)

Why find a seperate name for 100µBTC?

0.0001 should be called.... 1  chalky ;D

This.

Here I said Finny and Nakamoto. Either of the 2 will win :)

https://bitcointalk.org/index.php?topic=396522.msg4305576#msg4305576

nakamoto should be next to satoshi, i.e. the 7th decimal point - sticking it elsewhere makes no sense

0.1 mBTC

"nakamoto", although praised be His Name, is too long.

"bip" sounds kinda nice.

how much longer is nakamoto than satoshi?

I like both bit or bip, but decide to vote for the latter.

Not really keen on any of these names, none of them stand out as being catchy or appealing  :)

Just call it the USD  ;) tis going to be equal to that soon enough anyways  ;D

One syllable.

Nobody has realized that Satoshi Nakamoto never intended Bitcoin to group decimals by 3, but instead by 4, like in the japanese culture.

The radix point is exactly at the center:
0000 0000 . 0000 0000

21 million BTC = 2.1 peta-satoshi = 2.1 Psat
2100 0000 . 0000 0000

1 satoshi = 1 sat
0000 0000 . 0000 0001

1 finney = 1 oku satoshi (japanese group by 4) = 10 kilo-satoshi = 10 ksat
0000 0000 . 0001 0000

Same in Chinese culture  :)

Or
00 000 000 . 000 000 00
the last two is for cent, 100 satoshi = 1 dollar?
1 btc = 1,000,000 dollar?

So 3 syllables is fine but 4 is unacceptable? Fine ..... up to you.

What does it matter what these polls say anyway. They are forgotten the day after they close.

So is this a legit poll to actually officially name it, or just for fun?

Of course its not a legit poll, there is one run every 3 days ..... its "fun" ;)

Why is that so far-fetched?

A unit name should preferably be short and easy to pronounce.

I guess we agree that 1 syllable is fine, and 25 syllables is not. So somewhere in between is a limit. Most currency units have one or two syllable names: pound, franc, yen, won, dong, kip, baht, yuan, krone, rupee, dollar, euro, ruble, dinar, shekel.

Peronsally i'd say a "satoshi" is already quite long, and "nakamoto" just feels too long. Subjective, sure. But why settle for a 4-syllable unit name when there are plenty of reasonable shorter alternatives?

https://bitcointalk.org/index.php?topic=406171.msg4408943#msg4408943

0.0001 BTC = 10 kilo satoshi = 10 kiss = 1 big kiss

lol, well that's what I thought, but people are going about it like it's legit  :D.

Maybe this helps?
http://en.wikipedia.org/wiki/Slang_terms_for_money

Bip is not acceptable because BIP is already used in the Bitcoin community to mean "Bitcoin Improvement Proposal".

Bit is not acceptable because 0.0001 has nothing to do with a bit or an eighth of anything.

Nakamoto is not acceptable because it is simply too long and has too many syllables (see Kazimir's post).

Finney is therefore the only reasonable choice but I have no idea what it means and it's currently the least popular option.

Is there a list of what all the other denominations are called?

What about a 'blip' instead?  :)

Lol... I dunno, that sounds a bit weird. I think if Nakamoto is shortened to Naka or Moto that would be a good option.

Moto/s sounds good, but nackas sounds like knackers which means bollocks over here  :D. I still like blip/s though.

I like both blips and motos. I could see them catching on.

https://en.bitcoin.it/wiki/FAQ#What_do_I_call_the_various_denominations_of_bitcoin.3F

There's no "official" aspect to it. I'm just a guy who thinks making the next step in bitcoin usage be the halfway point between bitcoins and satoshis makes more sense than dropping down 3 decimal points... then 3 more... then two.

So rather than whine about it, I figured I'd throw together a simple contest for fun, offer a prize, and see if any interest in the idea is generated. :)

(I'm glad others are pointing out that Far East cultures typically have a name for 10000 of something, the implication being that a bitcoin was meant to be a ten-thousand ten-thousand satoshis. Apparently our metric system has a Western bias in that there's no standard name for 0.0001 of something....)

1 BTC = 1 bich?

(rhymes with itch)

:D

Whatever word it is, it should be just one syllable long.

Maybe 0.0001 BTC = 1 boin?

I think “finney” is the only reasonable option, because both “bit” and “bip” are confusing, and “nakamoto” refers to the same person that already has a unit (“satoshi”, obviously). I've never seen anywhere that a person gets two units named after them.

1 bitch? I don't think that would be the best idea.

Whatever you come up with it needs to be able to ring to the ear as well as:

'one dollar fifteen cents' does or
'two euros fifty' or
'ten pounds and twenty five pence'.

In other words you need two quantities ie dollars and cents/pounds and pence which work together verbally.

You can't possibly have something priced in a shop at 'one millibitcoin and thirty five microbitcoins'. It's absurd.
Neither can you have something priced at 'point zero zero zero two three one bitcoins.'

Check-out girls are not going to like it.

as said bevore -

bit and bip are not working
nakadingsbums is to long

finneeeeeeeeey ftw (pronounced like "timmy" [southpark])

Wow, "nakamoto" is catching up to "bit" real fast!

It's actually in the lead now.

Winner.

no matter what the poll results, I predict finney will catch on in practice

this.

Will

+1

bit bitcoin is the first one right now and I think it's suitable,Of course this depend on people and if they will or won't use that term as this isn't so official I guess.

I like the term Finny because it is respectful of the early history of bitcoin, and therefore a valuable reason to use it.

All the other terms have a feel of being smart arse and I doubt would be used by real users in years to come.

I voted 1 Nakamoto because eventually that will just be called a Naka, and I really like that... Just sounds cool like an Cockney Londoner saying 2 bob please Gov, except for more Bladerunneresque.

Oh darn, shoulda voted for Finney... The basic point was made about the 6th decimal point needing to be the Naka before the Satoshi in the 7th decimal point. Missed that! Doh!

Yes, that's right! I think "bitcoin" may eventually shortens to "bit".
So it would be silly to call 0.0001btc "bit" again

I like the idea of sticking to Japanese names. Maybe on the next naming poll we might see a Miku or a Moe :-*

tidBIT OR hobBIT lol :D

If you think "nakamoto" would stick as a name, you're sorely mistaken.  4 syllables, really?  Look at all the slang for money:   Cash, bucks, bill, bread, roll, brick, etc etc.  Nakamoto would easily become "Nak" or "Naka" within a year, provided it received wide-spread adoption.  Save Nakamoto for .00000000001 bitcoin when it becomes divisible as such.

1 bip = 0.0001 BTC   - 37 (24%)
1 bit = 0.0001 BTC   - 41 (26.6%)
1 finney = 0.0001 BTC   - 38 (24.7%)
1 nakamoto = 0.0001 BTC   - 38 (24.7%)

Wow ! so close ! :o

bit is far too generic (even my username uses it) and it has the wrong meaning in this context.

His name is Nakamoto ....... or should we have shortened Satoshi to "Sat" or "Oshi"? :)

just feel nakamoto will be a cool name  8)

Absolutely right :)

Nakamoto is just too many syllables!

I don't like the choices in this poll.

bip would be the best of those options offered because it is a single syllable (like "cent") and just 3 letters (like btc), so very parsimonious. Unfortunately, someone else says it might be a little bit of a problem because it is not unique (the BIP acronym, Bitcoin Improvement Protocol).

I still like the idea of something like

boin

or boink or bink.

"bip" is a natural.

There seem to be no suitable options in this poll, sad as I firmly believe each unit should a different name  :-[

a "blip"

Can we start a new poll for my suggestion?  ;D

No need for that.

Just use one of these:
0.1 mBTC
100 μBTC

Under 12 hours left! The poll numbers are a lot closer than expected; any of the four proposals could still come out on top, so every vote counts right now.

SI units are where it's at, people. Unless you're living in the US, that should be obvious.

Definitely have to be 1 bit = 0.0001 BTC

Need somethign that is clear and concise.

If we weren't around for the first poll or thread how can we contribute an equal vote and or idea? I have ideas to present but why not include the opinions/options of some of us who for one reason or another weren't around for the first poll? I would like to place a vote, but I would rather present my own opinion for the name of the unit and get the opportunity to get my choice voted on as well. I think the fact that even the first poll is "set in stone" is ridiculous considering the first thread and poll aren't even a week old.

How about "finn"
Nice and short.

The poll isn't going to force acceptance of a name, and you can always present your own ideas and alternatives on the forum. But if 0.0001 BTC is to become a commonly-used unit, it'll have to be because at least some portion of the community embraces it. I'm just trying to spark debate about the idea; there's no need to drag it out for months if no significant number of bitcoin users are interested. But if the interest is there, then I'm sure further discussions will ensue, and/or the unit will just start to be used, and some conventional name or term for it will be adopted.

TL;DR - This poll doesn't have to be the end; it's intended to be the beginning.

+1
Then again how does it sound in Finland ?

And where is μ on a keyboard? Has to be on a keyboard, sorry.

And the winning name, 29.3% of the votes to the 24.8% of the runner-up:

One bit = 0.0001 BTC

The 0.1 BTC prize belongs to jakioflap for the initial proposal.

The acceptance of the name is still up in the air, of course; the final competition wasn't far behind vote-wise.

Congratulations on the win!

I am so very happy. Thank you all who voted!! Im going to use this win to hopefully start trading.

Thank you  westkybitcoins!  :-*

Bits (.0001) for now and Satoshis later. This works for me.

Well congratulations to the winner but that being said that has to be the most unimaginative name anyone could have ever come up with. Fingers crossed it won't stick!

A "bit" is plain awful

1) Already in use in computation e.g 101111
2) Already in use in plain English "loan me a bit please" ...

Simply terrible choice. But hey, who cares ;)

Could just use 'u'.

Or just say microbit, like mBTC=millibit

So 1 bit = .1 millibits ???

It's probably safe to say that those who voted for bit really don't like millibit/millibitcoin as a name.

what's wrong with scientific notation?

1 x 10^-4 btc ;D

There's nothing wrong with it per se, or with using metric terms for that matter. I don't even have a strong aversion to either, myself.

But how often do people or cultures apply either to their money? No one walks around talking about kilo-dollars or deci-dollars, or using scientific notation when selling either mansions or bubblegum. It's mainstream for measuring quantities... not for abstract tools like currencies.

The "millibitcoin" term obviously originates from the geekier parts of Bitcoin culture, and is going to face some resistance from non-technical types (read: most people) even outside the USA. Had there already been a name (even a metric shorthand, the equivalent of "cents") for the 0.0001 BTC unit early on, no one would have ever even suggested mBTC, uBTC and the like.

Nonsense. 'How much is that house, Mr. Realtor?' "Two-Hundred and Fifty K" 'Quarter-Mil? Cool'.


True, although 'centi-dollars' is so common that we abbreviate it to 'cents'.

I got shot down for "liking" nakamoto purely on the basis it was 4 syllables so millibitcoin fails that test as well.

Again, I must point out that in Japanese (and Chinese) cultures, numbers are grouped in chunks of 4, not 3; and they are spoken in couplets. This is why there are 21,000,000 and not something convenient for tri-grouping.

2100 0000 main units. Each main unit has 1 0000 0000 subunits, and therefore 2100 0000 0000 0000 total.

Also, decimals basically are read as "integer ten (meaning point) decimal" -- no thousandths or whatever. Just leading zeroes.

I still feel, if we must name something, I guess of those choices a Finney, easily shortened to Fin in speech, works for mBTC. I don't really like it though. A "rin" (pronounced "reen") is old Japanese for a thousandth. I could be persuaded to try that if I must. But that's a decimal short. 0.001, and we are trying to name 0.0001.

I guess I'd have to vote for Finney... Fincoins? (Sounds like Coinyes...)

I hate all those names.   :o

Let one ten thousandth of a bitcoin be 1/10000 b, where the unit of "b" uses lowercase since bitcoin is not a proper name, like h for hash instead of H for Hertz.  Then, 0.0001 b = 0.1 mb =  100 μb = 10 kiloSat, or say ".1 em-bee is 100 mu-bee is 10 kSa," if you like...or 10kS, i.e. 10 kSatoshi.

We're trying to simplify so normal people can use bitcoin and not have to rely on units to right of decimal point. I don't think your suggestion simplifies, the opposite in fact ;)

Lol, somehow I can't see these catching on  ;D. You need short and sweet little names that are memorable and  don't all sound the same.

People are willing to talk "cents" and "kilos" and would likely do "decis" and "micros". It's when the prefixes stay attached to the base unit ("kilo-dollars") that people start changing it up.

0.0001 BTC = 1 square-rooted satoshi

Hang the fuck on. I actually REALLY, REALLY like this. The public is fine with Satoshi, which means absolutely dick to them. It's also too long to be spoken, really, so we'll have to shorten that eventually anyhow.

I nominate Satoshi-root. It's clever, it gives us geeks what WE want (with our insistence on scientific notation etc), and the public doesn't give a damn anyway. I don't even care, I'm henceforth calling it a Satoshi-root; probably just roots, or the japanese for it (kon, pronounced "cone"). If using kon, just let that be singular and plural.

BTW, the KON in that Kanji is already the Chinese pronunciation, so it's a triple win.

X.0 = bitcoin
0.0X = bitcent
0.00X = millibitcoin

1.0 = 1 coin
0.01 = 1 cent
0.001 = 1 bit or 1 mil

2.0 = 2 coins
0.02 = 2 cents
0.002 = 2 bits or 2 mils

2.5 = 2 and a half coins, or 2 coins, 50 cents
0.21 = 21 cents
0.021 = 21 bits or 21 mils

2.212 = 2 coins, 21 cents, 2 bits (or 2 mils)

Works for me.

(edited for math.  yeah.)

But millibitcoin is 0.00X. You can't just redefine SI prefixes. You can come up with new names, if you want.

This one.

Fixed.   :'(

So, 1 BITKON = 0.0001 BTC ?

in my circle of "bitcoin users who dont really get the whole bitcoin thing but are certainly tech savvy and interested", they prefer calling millibits "bits" and microbits "micros or whatever.

so for them, they have naturally gravitated to:

1= bitcoins
0.001 = millibits = bits
0.000001 = microbits = micros
0.00000001 = satoshis.

im assuming this will just stick since it seems so intuitive and easy for the people who havent thought about it much.

1 bitty = 0.0001 BTC

I love 'bitty', because it's catchy and memorable just like 'penny'.

My 2 bitties, ops... cents! ;)

I believe if you used bit, it would be confused with the "bit" when talking about megabits.. bit is actually a measure if I'm not mistaken. I like bip! Those other two are kinda of weird... Bip sounds good!

BTW curious to know what you guys think!

Could I ask you to post the complete results? I'm curious how the finneys went. :)

(The poll results are no longer visible, or maybe I just don't know how to)

Thanks in advance!

This is why it does not need a name.

It is visible on top of this post (on every page). In case you can't see it for some reason, here are the results:

1 bip = 0.0001 BTC   - 55 (22.7%)
1 bit = 0.0001 BTC   - 71 (29.3%)
1 finney = 0.0001 BTC   - 56 (23.1%)
1 nakamoto = 0.0001 BTC   - 60 (24.8%)

Okay next we need to decide on a name for 0.0000001 BTC. Final, ultimate poll, period.

List of invalid answers (these are either too obvious or not cutesy enough or already taken):

• 10 satoshis (Too obvious)
• 0.1 μBTC (Too "Sciency")
• 100 nBTC (Again, too sciency - everybody hates Standards)
  
• 1 bit (Now officially taken by 0.0001 BTC)

I like bitty, people would use that regardless I reckon.

I'm not so sure this name is "official"
No way I ever use the word "bit" for any other purpose than the one described by Shannon.

"Unofficially" taken then. I'm sure different names will catch on eventually. Just let the people decide  :D.

I'm not so sure my post was serious.

Yes, it's already a word (no mental effort to learn it) and it already means 'tiny'. Nothing better to describe a small part of the Bitcoin.

Thanks! So it was a close call in the end, I like the variety!

For some reason I can only see the poll options, but not the poll results in the thread. I didn't participate in the vote, may be that's the reason...

Many greetings

"Officially"

I refuse to use bit as a standard and I'll just keep using the ISA standard of 100nBTC

Bit is 1/8th of something, and using 'a bit' as an unit of scale for bitcoins will only confuse people.

A bit could easily be interpreted as 1 whole bitcoin (one BIT(coin)), any arbitrary part of a bitcoin (a bit of bitcoin), 1/8th of a bitcoin (an actual bit) or now 0.0001 bitcoin (the *cough* "official" meaning of a bit, Apperantly, as decided by 0,0001% of bitcoin users). The confusion would be too much, and if even we'd use nicknames, we should use nicknames that make sense and are not easily confused.

A bit is therefore not a good nickname.

Anyone else run across different term usage IRL? I believe someone suggested that gambling sites went with powers-of-satoshis (kSat, MSat, etc.) which seems cumbersome in speech. Any other local/group trends?

Colloquially, everyone in my circle used "u-bits" for uBTC, which has evolved over the last year to normally just "bits". Not much need for a name for mBTC, though we had been calling them Bitfins, finneys, and generally just Finns.

Thus my preference.

1.00 BTC = 1 Bitcoin. The full thing. Emphasis that it can be broken down, into...
0 . 000 001 BTC = 1 uBTC = 1 bit. Bitcoins are made of bits. It's a Bit-coin. Bits go to two decimal places, comfortably, and probably will not need to exceed this for a good many years:
0 . 000 000 01 BTC = 1 "Satoshi" = 0.01 bit.

At my company, we keep track of client funds with a "crossed B" for Bitcoin, and use BTC or the proposed ISO code XBT when necessary. For bits, we use a crossed lower-case b, and for clarity will use either uBTC, uXBT when necessary. (Necessary is when there is no glyph support for a B or a b superimposed with a dash, as some systems don't like this.)

We deal mostly in holdings that exceed a full B by a good deal, but interest and other things regularly need to be accounted for. We're anal so we keep 24 places of precision regardless, and thusly you'll see in our books "927 . 721 932 991 283 372 120 uBTC" but with our "bit" sign.