Bitcoin Forum
December 15, 2017, 11:16:02 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2  All
  Print  
Author Topic: Naming of bitcoin fractions  (Read 4163 times)
xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 29, 2013, 09:50:23 PM
 #1

Ultimately this will be decided by cultural evolution, or maybe by the unwashed massed, but, fellow pioneers and entrepreneurs and visionaries , think about it:

I like the engineering notation: millibitcoin and microbitcoin. This balances nicely with thousands and millions on the other side of 1. See below for additional cultural names.

I do not like centibitcoin or bitcent. Why? A hundreth part feels inconsistent with billion, millon, thousand, a thousandth and a millionth. Also it is not so extendable. What about the next step? A ten-thousandth? In everyday life, it is not at all difficult to count to more than hundred. We have no problem grasping what a price of seven hundred and fifty is. Some even prefer to go beyond 1000, saying for instance twelve hundred dollars in stead of one thousand, two hundred dollars. Conclusion: centibitcoin or bitcent is not necessary, millibitcoin is satisfactory.

So far so good. What about the satoshi? It is a hundreth of a microbitcoin. I feel the dissonance. It was unlucky that it was not a trillionth or a nano. This is nailed, nothing can be done now. The satoshi is baked. But we can still use nanobitcoin as a unit, even if it is not possible to pay a nanobitcoin, currently. This is the situation in many countries, things are still priced in øre (centicrown), but it is impossible to pay such a small amount, the smallest coin is the crown. Sum a few items to 57 nanobitcoins, round to 60 (6 satoshis), pay.

Cultural names. In addition we need cultural names for millibitcoin, microbitcoin and nanobitcoin. Personally I wish that it was some historic money unit names. Not units that are still in use somewhere, and not units of mass (weight). Not names that hint to hundreths. Not names that refer to the money stuff.

Suggestions: shilling, penny farthing, drakma, scat, baug, mongol
Your suggestions here:

Yes I know we can not decide now. Users in the future will. Still, fun to think about.

Billion said I? We don't need no freakin billions.




1513336562
Hero Member
*
Offline Offline

Posts: 1513336562

View Profile Personal Message (Offline)

Ignore
1513336562
Reply with quote  #2

1513336562
Report to moderator
1513336562
Hero Member
*
Offline Offline

Posts: 1513336562

View Profile Personal Message (Offline)

Ignore
1513336562
Reply with quote  #2

1513336562
Report to moderator
1513336562
Hero Member
*
Offline Offline

Posts: 1513336562

View Profile Personal Message (Offline)

Ignore
1513336562
Reply with quote  #2

1513336562
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1513336562
Hero Member
*
Offline Offline

Posts: 1513336562

View Profile Personal Message (Offline)

Ignore
1513336562
Reply with quote  #2

1513336562
Report to moderator
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
January 29, 2013, 09:57:23 PM
 #2

This strongly reminds me of the debate in the mid-1990s about what people would call the following decade.

The time spent arguing about what would happened turned out to be completely out of proportion to the actual amount of attention people pay to the subject now.
Elwar
Legendary
*
Offline Offline

Activity: 2310


www.bitpools.com


View Profile WWW
January 29, 2013, 09:58:45 PM
 #3

Suggestions: shilling, penny farthing, drakma, scat, baug, mongol

I second the suggestion of calling a denomination of Bitcoin a scat.

We have discussed the fractions many times, I believe consensus has been fairly reached in different polls.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 29, 2013, 10:00:49 PM
 #4

This strongly reminds me of the debate in the mid-1990s about what people would call the following decade.

The time spent arguing about what would happened turned out to be completely out of proportion to the actual amount of attention people pay to the subject now.

Yes but the marginal cost of my words is quite low.
xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 29, 2013, 10:02:11 PM
 #5

Suggestions: shilling, penny farthing, drakma, scat, baug, mongol

I second the suggestion of calling a denomination of Bitcoin a scat.

We have discussed the fractions many times, I believe consensus has been fairly reached in different polls.

Has consensus been reached on the centi contra milli question? I see people use bitcents from time to time.
lassdas
Legendary
*
Offline Offline

Activity: 1876


View Profile
January 29, 2013, 10:08:33 PM
 #6

I also like the idea of names,
so far we only have Bitcoins and Satoshis, everyone knows how much that is,
would be nice to have some more in between and not call them milli-, micro-, nano-Bitcoins, or maybe Mega and Giga-Satoshis later, which alone sounds awful.

Not sure that we'll ever reach consensus on those names though.
Walter Rothbard
Sr. Member
****
Offline Offline

Activity: 476


Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm


View Profile WWW
January 29, 2013, 10:10:45 PM
 #7

Suggestions: shilling, penny farthing, drakma, scat, baug, mongol

I second the suggestion of calling a denomination of Bitcoin a scat.

We have discussed the fractions many times, I believe consensus has been fairly reached in different polls.

Has consensus been reached on the centi contra milli question? I see people use bitcents from time to time.

I intend to use the term bitcent whether other people like it or not. Smiley

xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 29, 2013, 10:11:06 PM
 #8

I also like the idea of names,
so far we only have Bitcoins and Satoshis, everyone knows how much that is,
would be nice to have some more in between and not call them milli-, micro-, nano-Bitcoins, or maybe Mega and Giga-Satoshis later, which alone sounds awful.

Not sure that we'll ever reach consensus on those names though.

I like the sound of bernanks, but..

Anyway, we have solved the long billion / short billion confusion, there are not billions.
xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 29, 2013, 10:17:06 PM
 #9


I intend to use the term bitcent whether other people like it or not. Smiley

It is well defined, and it is a free world, but i hope the hordes of millis will overwhelm you.
Walter Rothbard
Sr. Member
****
Offline Offline

Activity: 476


Bytecoin: 8VofSsbQvTd8YwAcxiCcxrqZ9MnGPjaAQm


View Profile WWW
January 29, 2013, 10:28:02 PM
 #10


I intend to use the term bitcent whether other people like it or not. Smiley

It is well defined, and it is a free world, but i hope the hordes of millis will overwhelm you.

LOL

davidspitzer
Hero Member
*****
Offline Offline

Activity: 560


"Flixxo - Watch, Share, Earn!"


View Profile
January 29, 2013, 10:34:13 PM
 #11

Lets be really geeky and use Dungeons and Dragons Monetary naming (I'm math impaired so please check my math below)



1 Platinum  =  1 bitcoin
1 Gold =       .1 Bitcoin
1 Silver =     .01 Bitcoins
1 Copper = .001 Bitcoins

So at $20 per bitcoin the USD value would be:

1 Platinum  =  $20.00
1 Gold =         $2.00
1 Silver =       20 cents
1 Copper =     2 cents

At $10 per bitcoin it would be

1 Platinum  =  $10.00
1 Gold =         $1.00
1 Silver =       10 cents
1 Copper =     1 cents


You know it actually kind of works for me Smiley

X       ▄▄█████████▄▄
    ▄██▀▀         ▀▀██▄
  ▄██▀              ▀██▄
 ▄██     ██▄▄          ██▄
▄██      █████▄▄        ██▄
██       ████████▄▄      ██
██       ███████████▄    ██
██       ██████████▀     ██
▀██      ███████▀       ██▀
 ▀██     ████▀         ██▀
  ▀██▄   █▀          ▄██▀
    ▀██▄▄         ▄▄██▀
       ▀▀█████████▀▀
.flixxo    X▄████████████████████▄
██████████████████████
██████████████████████
████████████▀▀███████
█████▀████░░░░░░▄████
█████░░░░▀░░░░░▄█████
█████▄░░░░░░░░░░██████
██████░░░░░░░░░███████
███████░░░░░░▄████████
████▄▄░░░░▄▄██████████

██████████████████████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████████▀█▀██████████
██████▀▀▀▀▀████████
██████▄▄░░▄▄▄░░███████
████████░░███░░███████
████████░░░░░░▀███████
████████░░███▄░░██████
██████▀▀░░▀▀▀░░░██████
██████▄▄▄▄▄▄███████
█████████▄█▄██████████

██████████████████████
▀████████████████████▀
X[[]]X
nobbynobbynoob
Hero Member
*****
Offline Offline

Activity: 756


Annuit cœptis humanae libertas


View Profile WWW
January 29, 2013, 10:38:29 PM
 #12


I intend to use the term bitcent whether other people like it or not. Smiley

It is well defined, and it is a free world, but i hope the hordes of millis will overwhelm you.

I was more of a cents type but increasingly I can see the merit in mBTC and µBTC, and indeed, mBTC (or BTM) is becoming increasingly standard in online gaming. 1 mBTC = about 1,8 US cents right now, but could be several dollars some time in the (distant?) future.

I am getting more and more used to dealing with mBTC/BTM but my desktop client is still set up to display amounts in BTC.

Earn Free Bitcoins!   Earn bitcoin via BitcoinGet
BTC tip: 1PKkvuwC24Vqjv9odigXs1QVzE66jEJqmb (if <200 µBTC, please donate to charity)
LTC tip: LRqXaNdF79QHvhPpS5AZdEJZnLiNnAkJvq (if <Ł0,05, please donate to charity)
xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 30, 2013, 12:53:21 AM
 #13


I second the suggestion of calling a denomination of Bitcoin a scat.


I like scat to. Possibly for the microbitcoin.
julz
Legendary
*
Offline Offline

Activity: 1092



View Profile
January 30, 2013, 01:50:19 AM
 #14


I second the suggestion of calling a denomination of Bitcoin a scat.


I like scat to. Possibly for the microbitcoin.

Wait.. are you people really not joking??

http://www.urbandictionary.com/define.php?term=scat


I would have expected this suggestion from the buttcoin guy Tongue

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
davidspitzer
Hero Member
*****
Offline Offline

Activity: 560


"Flixxo - Watch, Share, Earn!"


View Profile
January 30, 2013, 01:51:53 AM
 #15


I second the suggestion of calling a denomination of Bitcoin a scat.


I like scat to. Possibly for the microbitcoin.

Wait.. are you people really not joking??

http://www.urbandictionary.com/define.php?term=scat


I think it's a shitty idea

X       ▄▄█████████▄▄
    ▄██▀▀         ▀▀██▄
  ▄██▀              ▀██▄
 ▄██     ██▄▄          ██▄
▄██      █████▄▄        ██▄
██       ████████▄▄      ██
██       ███████████▄    ██
██       ██████████▀     ██
▀██      ███████▀       ██▀
 ▀██     ████▀         ██▀
  ▀██▄   █▀          ▄██▀
    ▀██▄▄         ▄▄██▀
       ▀▀█████████▀▀
.flixxo    X▄████████████████████▄
██████████████████████
██████████████████████
████████████▀▀███████
█████▀████░░░░░░▄████
█████░░░░▀░░░░░▄█████
█████▄░░░░░░░░░░██████
██████░░░░░░░░░███████
███████░░░░░░▄████████
████▄▄░░░░▄▄██████████

██████████████████████
██████████████████████
▀████████████████████▀
▄████████████████████▄
██████████████████████
█████████▀█▀██████████
██████▀▀▀▀▀████████
██████▄▄░░▄▄▄░░███████
████████░░███░░███████
████████░░░░░░▀███████
████████░░███▄░░██████
██████▀▀░░▀▀▀░░░██████
██████▄▄▄▄▄▄███████
█████████▄█▄██████████

██████████████████████
▀████████████████████▀
X[[]]X
knight22
Legendary
*
Offline Offline

Activity: 1372


--------------->¿?


View Profile
January 30, 2013, 02:07:35 AM
 #16

I think there is gonna be a real concencus with this issue when it will be a real problem. Discuss it now is pointless

xxjs
Sr. Member
****
Offline Offline

Activity: 280


View Profile
January 30, 2013, 07:07:25 AM
 #17


I second the suggestion of calling a denomination of Bitcoin a scat.


I like scat to. Possibly for the microbitcoin.

Wait.. are you people really not joking??

http://www.urbandictionary.com/define.php?term=scat


I would have expected this suggestion from the buttcoin guy Tongue

I would have given a scat for your comment, weren't it for the comparatively enormous fee necessary.

Maybe scot is better.
phelix
Legendary
*
Offline Offline

Activity: 1708


nmc:id/phelix


View Profile
January 30, 2013, 09:16:44 AM
 #18

not this again  Lips sealed

blockchained.com ■ bitcointalk top posts
DobZombie
Hero Member
*****
Offline Offline

Activity: 756


TheBitcoinMuseum.com


View Profile
January 30, 2013, 10:19:53 AM
 #19

I do think that millibitcoin and microbitcoin will confuse all the non-nerds.


The Bitcoin Museum is back under my control, but I still need to go through all the code. DO NOT PURCHASE ANYTHING FROM IT

The Biggest Collection of Bitcoin Memorabilia The Bitcoin Museum
Series 2 BitcoinNerd 1g Silver coin thread!
Discount Jewellery! Noella Jean Jewellery



Buy premium Champanges, Spirits & Wines in Australia! My Bitmit Items

Tip Me if you Hate Justin Bieber 1DobZomBiE2gngvy6zDFKY5b76yvDbqRra
payb.tc
Hero Member
*****
Offline Offline

Activity: 812



View Profile
January 30, 2013, 10:42:59 AM
 #20

I do think that millibitcoin and microbitcoin will confuse all the non-nerds.

but but but, milligrams, millilitres, millimetres are really not hard at all to grasp and get a feel for.

every non-nerd in non-S.I-challenged countries knows how much these units represent.
Pages: [1] 2  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!