Let's get the denominations of BTC straight

[ebliever]

It depends on what future are we talking about, imagine if Bitcoin reaches one million each (whatever if happens or not), it will be more convenient if we use Satoshi denomination, i'm really waiting eagerly for that moment  

I was thinking along exactly the same lines. Altcoin traders think in terms of satoshis, so I'm surprised that option was not more popular. Right now 1/1000 of a bitcoin may be a convenient unit of measure for "normal" (common) transactions, but if BTC goes mainstream and the price shoots up in accordance with demand, sticking with satoshis for pricing most items will make a lot more sense.

[fran2k]

Bits sounds more appealing at current price. In a few orders of magnitude more we should switch another 3 decimals under and add more decimal positions to the satoshis.

[abercrombie]

All the major exchanges like BTC-e, Mintpal and Cryptsy already use Satoshi.

A simple dive into the Alt coin section of this site shows that Satoshi is already the unofficial standard. 

[counter]

I've decided!  It is simple if you just explain in logical terms and Satoshi is the best way to go about it all the other terms are confusing.  Just go up in multiples of 10 with a chart stating how much the amount is in Satoshi.  After trying to understand the different ideas I'm a firm believer this is the simplest easiest way and other ways are just confusing especially to a newer user..

.00000001 = 1 Satoshi
.00000010 = 10 Satoshi

[bg002h]

I think some  cultures will chose to use milliBits and other bits. With a bit having essentially zero value now, it will be a while before they are likely to be used (in single units) economically. But, it doesn't hurt to prepare. I don't think a Satoshi will be an economically useful unit in my lifetime (ie, >1¢). Satoshi's will be useful for non-economic tasks (like trading large volumes of altcoins values in pennies), but even the poorest of the poor wouldn't use any currency unit of so little value.

The advantage to bits is that the two decimal places following  a bit gives precision down to the Satoshi. Lots of cultures use 2 or 3 decimal places after their major currency unit. Not culture uses 5 or more (some international banking currency units use 4 decimal places).

At any rate, I think we should have unique unicode symbols for 4 denominations such that they don't casefold (eg, a lowercase Ƀ is ƀ...they both can't be used as symbols like $ and ¢...otherwise a sticky caps lock key could cost a fortune!)

[quirko]

Satoshi is a de-facto standard. You can't deny that.

https://cdn.mediacru.sh/U7ePcDNuPwls.png

[IIOII]

The only units that emerged naturally are Bitcoin and Satoshi. Adding other units only leads to confusion.

There's no problem to use Satoshi for all small denominations. If you want to express thousands of Satoshis in short form, just add a "k" for thousand. Everybody understands that and the value is much clearer, because everybody knows that Satoshi is the smallest possible denomination.
I don't know who originally came up with this "bits" invention, but I think it makes no sense at all and should be abandoned.

[hollowframe]

It depends on what future are we talking about, imagine if Bitcoin reaches one million each (whatever if happens or not), it will be more convenient if we use Satoshi denomination, i'm really waiting eagerly for that moment  

I was thinking along exactly the same lines. Altcoin traders think in terms of satoshis, so I'm surprised that option was not more popular. Right now 1/1000 of a bitcoin may be a convenient unit of measure for "normal" (common) transactions, but if BTC goes mainstream and the price shoots up in accordance with demand, sticking with satoshis for pricing most items will make a lot more sense.

There are very few items for sale that would cost 1 mBTC, or even 100 mBTC as 1 mBTC would be only ~63 cents and 100 mBTC would be ~$6.30, while most transactions in bitcoin are worth hundreds, if not thousands of dollars.

[adoni]

I think Satoshi must have been an old school programmer.

8 Bits is a Byte.

So to have a system of Bits with 8 decimal points is based entirely on old school programming logic of 8 bits is a byte, only he chose to build Bitcoin on 8 Decimals is a Bit instead of 8 Bits is a Byte, if he called it a Bytecoin it would have perfect, IMO as to naming it in honor of how bits and bytes really work.

Anyone calling 8 Bitcoins a Byte yet.

Had Bitcoin been Bytecoin we would be calling the fractions bits and the coins bytes and it would be a perfectly phrased digital currency in semantics.