Bitcoin named denominations

[Murderous_wabbit]

Are there multiple named denominations for Bitcoin?

1.00 = 1 Bitcoin

0.25 = 1Bit quarter??

0.10 = 1 Bit dime??

0.05 = 1 Bit nickle??

I think I have seen millibit referred to on the forum, but not sure to the amount it is associated.

[mpfrank]

Are there multiple named denominations for Bitcoin?

1.00 = 1 Bitcoin

0.25 = 1Bit quarter??

0.10 = 1 Bit dime??

0.05 = 1 Bit nickle??

I think I have seen millibit referred to on the forum, but not sure to the amount it is associated.

A millibitcoin or mBTC would be 0.001 BTC, one thousandth of a Bitcoin.

A microbitcoin or uBTC would be 0.000001 BTC, one millionth of a Bitcoin.

A "Satoshi" is the smallest Bitcoin unit, it is 0.01 uBTC or one hundred-millionth of a Bitcoin.

[bradyon]

As far as I know, the common fractions are:

bitcent 0.01BTC
millibit 0.001BTC
microbit 0.000001BTC
satoshi 0.00000001BTC

[Murderous_wabbit]

thank you both!

so for now, I guess I will refer to:

.05 = 5 bitcents
.10 = 10 bitcents
.25 = 25 bitcents

when offering promotions

[skibum]

so for now, I guess I will refer to:

.05 = 5 bitcents
.10 = 10 bitcents
.25 = 25 bitcents

Makes cents ;-)

[Stephen Gornick]

so for now, I guess I will refer to:

.05 = 5 bitcents
.10 = 10 bitcents
.25 = 25 bitcents

when offering promotions

millibits is more commonly used.  Online gambling services like BitZino and others are all at the millibits denomination.  Ogrr has been using millibits as its currency unit for trades there for quite some time.   While bitcents isn't wrong, it probably isn't best.  But hey, this is bitcoin  Do what you want.

 - http://en.bitcoin.it/wiki/MilliBit

[Murderous_wabbit]

thanks, I will use the millibit denomination from here on out.

I believe that the way Bitcoin prices have been rising, millibits will be the only denomination that makes sense when talking about prices in Bitcoin for online goods and services.

[skibum]

thanks, I will use the millibit denomination from here on out.

Makes better cents ;-)

[GambitBTC]

thanks, I will use the millibit denomination from here on out.

Makes better cents ;-)

HAAAAA


 

[xacobe97]

I always use mBTC (0.001) and uBTC (0.000001). Btw i didn't know the Satoshi's denomination

[BigJohn]

I've been wondering why it's named Bitcoin if every sci-fi movie I grew up on always called future money Credits.

[ABitBack]

If its a global currency we don't want to copy the Americans. It need to be something unique and globally accepted.

[Atruk]

I've been wondering why it's named Bitcoin if every sci-fi movie I grew up on always called future money Credits.

Because we are conducting trade with the asset rather than debt, also known as credit.

[BigJohn]

But in essence that's what it is right? You have credit against the Bitcoin network. It's not like Bitcoins are actual coins or a token for a coin. It's just an entry in a ledger that says you can spend however many satoshis.