Why 'bits' and not just 'bit'?

'bit' can be both singular and plural.

The simplest form of the word is best.

What to speak of for Bitcoin, 'bit' should be primary micro (1/1,0000,000th) unit for all crypto currencies.

Then everything could be denoted in the single denomination 'bit'.

kb - kilobit
Mb - megabit
Gb - gigabit
Tb - terabit

That clears up so much impending multiple currency fractional unit confusion.

1. Change the common name of a Satoshi to a bit.
2. Use the analogy of data storage to monetary storage.
3. 1 BTC = 100mb, or 1 bitcoin = 100 megabits.
4. Think of everything in bit.
5. Easy

Why does everyone want to think in fractions of btc and introduce: centibit, milibit, microbit, satoshi, etc. into common usage?

The entire problem can be simply solved by naming a satoshi a 'bit', and using bit as the most common unit of denomination.

Everything in bit.

To simplify, the name of the smallest unit could be changed from satoshis to bit.

That removes the need to think in fractions of btc all the time, e.g. 0.0001 btc, or adopt additional nomenclature.

We should only think in a single unit, bit.

So the answer is... 10,000 bit.

Thought it was going to open at 10:30pm PST.

Guess I was wrong, it's 8pm and already at $123.

Between $80 and $90.

Couldn't those prefixes also be used with bit?

1 bit = 1 nBTC

Once a single bitcoin has a large value, it's useful to think in terms of the satoshi or 'bit' unit instead of fractions of a much larger unit and introducing additional nomenclature.

a thousand bit, a million bit, a billion bit, only uses the single unit 'bit'.

Then there's no need to adjust to thinking in cBTC and mBTC, etc. as the price rises.

Ordinary people are more likely to adopt the unit 'bit' than the tongue twister 'satoshi'.

With the introduction of multiple crypto currencies in the coming years do you think it will ever be necessary to use the µBTC and nBTC prefixes?

I also think the use of the term bit in regards to money predates use of the term bit in computing.

Could someone please comment on this idea?

The individual unit name is very important.

At this point in time I don't think it's a problem for most people to think in terms of millions and billions due to the ubiquity of computer memory, processor speeds etc.

Ultimately people will think about bitcoin in terms of its smallest unit.

Why not make it 'bit' before 'satoshis' becomes the next 'hertz'?

Head still spinning.
Crazy two days.
I hope Bitcoin's exchange issues are worked out soon.
Oh by the way, hi.

In response to post by tha_funkee_redditor
http://www.reddit.com/r/Bitcoin/comments/1bzwep/can_we_throw_out_the_word_satoshi_and_use_bit/

I completely agree.

Naming the smallest unit in bitcoin a satoshi is like calling cps hertz.

Could the more descriptive, single syllable term, bit be used?

The easier it is, the faster the recognition and usage.

A bit means a small piece, part or quantity of something.
No one is going to confuse it for a horse's mouthpiece or the binary numeral system.
http://www.thefreedictionary.com/bit

Not bits, just the irregular plural "bit" for both singular and plural.

Thinking in bit:

10,000,000 BTC = One Quadrillion Bit = 1,000,000,000,000,000 bit
1,000,000 BTC = One Hundred Trillion bit = 100,000,000,000,000 bit
100,000 BTC = Ten Trillion bit = 10,000,000,000,000 bit
10,000 BTC = One Trillion bit = 1,000,000,000,000 bit
1000 BTC = One Hundred Billion bit = 100,000,000,000 bit
100 BTC = Ten Billion bit = 10,000,000,000 bit
10 BTC = One Billion bit = 1,000,000,000 bit
1 BTC = One Hundred Million bit = 100,000,000 bit
0.1 BTC = Ten Million bit = 10,000,000 bit
0.01 BTC = One Million bit = 1,000,000 bit
0.001 BTC = One Hundred Thousand bit = 100,000 bit
0.0001 BTC = Ten Thousand bit = 10,000 bit
0.00001 BTC = One Thousand bit = 1,000 bit
0.000001 BTC = One Hundred bit = 100 bit
0.0000001 BTC = Ten bit = 10 bit
0.00000001 BTC = One bit = 1 bit

1 BTC = $100, $100,000 = 100,000,000,000 bit
1 BTC = $1000, $100,000 = 10,000,000,000 bit
1 BTC = $10000, $100,000 = 1,000,000,000 bit
1 BTC = $100000, $100,000 = 100,000,000 bit
1 BTC = $1000000, $100,000 = 10,000,000 bit

1 BTC = $100, $10,000 = 10,000,000,000 bit
1 BTC = $1000, $10,000 = 1,000,000,000 bit
1 BTC = $10000, $10,000 = 100,000,000 bit
1 BTC = $100000, $10,000 = 10,000,000 bit
1 BTC = $1000000, $10,000 = 1,000,000 bit

1 BTC = $100, $1000 = 1,000,000,000 bit
1 BTC = $1000, $1000 = 100,000,000 bit
1 BTC = $10000, $1000 = 10,000,000 bit
1 BTC = $100000, $1000 = 1,000,000 bit
1 BTC = $1000000, $1000 = 100,000 bit

1 BTC = $100, $100 = 100,000,000 bit
1 BTC = $1000, $100 = 10,000,000 bit
1 BTC = $10000, $100 = 1,000,000 bit
1 BTC = $100000, $100 = 100,000 bit
1 BTC = $1000000, $100 = 10,000 bit

1 BTC = $100, $1 = 1,000,000 bit
1 BTC = $1000, $1 = 100,000 bit
1 BTC = $10000, $1 = 10,000 bit
1 BTC = $100000, $1 = 1,000 bit
1 BTC = $1000000, $1 = 100 bit

http://redd.it/1c03nt

Why adjust to a new unit, cBTC, mBTC, etc.. every time the value increases by 10x?

P.S. No offence to Mr. Nakamoto