Naming of bitcoin fractions

[xxjs]

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.

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[justusranvier]

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]

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.

[xxjs]

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]

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]

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]

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.

[xxjs]

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]

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

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

[Walter Rothbard]

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

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

LOL

[davidspitzer]

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

[nobbynobbynoob]

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

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.

[xxjs]

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

I like scat to. Possibly for the microbitcoin.

[julz]

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

[davidspitzer]

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

[knight22]

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]

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

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

Maybe scot is better.

[phelix]

not this again 

[DobZombie]

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

[payb.tc]

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.