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Title: bitcoin units and ETF Post by: Biodom on February 23, 2017, 09:05:03 PM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.
With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon. I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know EDIT (maybe better): 1 btc=1 bitcoin=current unit 1 bts=1 bitcoin [etf] share=10-2 btc=bitshare (this term was coined by @york780 below) Any ideas? Overall, I think that trading in 10-2='etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). Title: Re: bitcoin units and ETF Post by: secousa on February 23, 2017, 09:08:20 PM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k. With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon). I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know Any ideas? Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). The units are already defined. https://en.bitcoin.it/wiki/Units Title: Re: bitcoin units and ETF Post by: Biodom on February 23, 2017, 09:10:45 PM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k. With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon). I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know Any ideas? Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). The units are already defined. https://en.bitcoin.it/wiki/Units I am just proposing a short hand for bitcent (centi-bitcoin is a mouthful) :( defined by whom? wiki contributors? nonsense, we can change them if we want to 'they' also defined: bitcoin-bong; bitcoin-ton? WTF!? Title: Re: bitcoin units and ETF Post by: york780 on February 23, 2017, 09:11:08 PM bitshare? bittoken? something like that ?
Title: Re: bitcoin units and ETF Post by: gentlemand on February 23, 2017, 09:18:44 PM I think it may be too late now. Coinbase, Bitpay and a few others tried to introduce 'bits', 100 satsoshis, and that went nowhere.
If Satoshi hadn't been balls deep in computer science, he would've realised most humans don't want strings of zeroes before the numbers that count. He should've either started off with many more primary units or made the change when it was just starting to get somewhere. Title: Re: bitcoin units and ETF Post by: Biodom on February 23, 2017, 09:22:46 PM I think it may be too late now. Coinbase, Bitpay and a few others tried to introduce 'bits', 100 satsoshis, and that went nowhere. If Satoshi hadn't been balls deep in computer science, he would've realised most humans don't want strings of zeroes before the numbers that count. He should've either started off with many more primary units or made the change when it was just starting to get somewhere. Well, maybe, but I surmise that people would like to trade etf-equivalents in "pure" bitcoin, hence the need. Current bits (10-6 btc) are made up and too far from a meaningful value yet. 10-2; call them bet(s) if you want to (bitcoin etf equivalents) OR bif(s) (bitcoin etf equivalents) maybe someone will propose something better (@york780: bitshare is good too) Title: Re: bitcoin units and ETF Post by: Biodom on February 23, 2017, 09:34:49 PM "My thinking about this case become very uptight"
something even simpler: 1 btc=1 bitcoin 1 bts=1 bitcoin etf share=10-2 btc=bitshare Title: Re: bitcoin units and ETF Post by: rogerwilco on February 23, 2017, 10:26:32 PM Yeah, no one wants to say "millibitcoin".
It has surpassed dollar parity. It's overdue for a catchy name. Title: Re: bitcoin units and ETF Post by: afbitcoins on February 24, 2017, 09:25:47 AM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k. With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon. I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know EDIT (maybe better): 1 btc=1 bitcoin=current unit 1 bts=1 bitcoin etf share=10-2 btc=bitshare (this term was coined by @york780 below) Any ideas? Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). No no no! Don't start linking share price of a different asset to bitcoin! Just don't By all means think of nice names for fractions of bitcoin though. Title: Re: bitcoin units and ETF Post by: Biodom on February 24, 2017, 03:40:07 PM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k. With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon. I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know EDIT (maybe better): 1 btc=1 bitcoin=current unit 1 bts=1 bitcoin etf share=10-2 btc=bitshare (this term was coined by @york780 below) Any ideas? Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). No no no! Don't start linking share price of a different asset to bitcoin! Just don't By all means think of nice names for fractions of bitcoin though. well, just think of 1bts=bitshare as a 1/100 of bitcoin I think that it is a good possible name (including shortened version) and is quite handy. i will start using it myself. Title: Re: bitcoin units and ETF Post by: york780 on February 24, 2017, 03:56:45 PM I am glad that I could help you all out : bitshare it is !
Title: Re: bitcoin units and ETF Post by: Ibian on February 24, 2017, 04:00:41 PM ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k. With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon). I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share: My name candidates (for 10-2 bitcoin): bitt (bitcoincent) bitty (same meaning, but softer) betf (bitcoin etf unit) #not very conducive to pronunciation, I know Any ideas? Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks). The units are already defined. https://en.bitcoin.it/wiki/Units Nope! |