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Author Topic: POLL: What name would you give to the smallest unit of bitcoin (0.00000001)?  (Read 12491 times)
goodlord666
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June 19, 2011, 09:14:00 PM
 #1

... if it weren't "Satoshi".

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June 19, 2011, 09:16:30 PM
 #2

What about Bitlet?
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June 19, 2011, 09:19:06 PM
 #3

What about Bitlet?

a millibit
Crystal Excursion
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June 19, 2011, 09:24:17 PM
 #4

An Octbit...

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spruce
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June 19, 2011, 09:29:01 PM
 #5

Cent.

And shift the decimal point six places so that it matches regular currencies. No regular currency is divisible to eight places. We talk about thousands or millions or billions of dollars or francs or euros, not megadollars or petafrancs. Millibits or microbits might work for geeks but not for average people.
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June 19, 2011, 09:31:49 PM
 #6

A LittleBit!

Or Microbit, Tinybit etc.
EconomicOracle
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June 19, 2011, 09:33:12 PM
 #7

It is called a "bitcoin".

GOOOOOOOOOOO BITCOINS!!!!!!!!!!!!!!!
Edit: Oops. Just fixed a typo. It should be GO (like GO TEAM!) and not GOOB
Edit2: Just checked the dictionary and goob is not a word
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June 19, 2011, 09:35:47 PM
 #8

An IttyBity
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June 19, 2011, 09:46:50 PM
 #9

a rand
Harry
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June 19, 2011, 10:03:21 PM
 #10

Cent.

And shift the decimal point six places so that it matches regular currencies. No regular currency is divisible to eight places. We talk about thousands or millions or billions of dollars or francs or euros, not megadollars or petafrancs. Millibits or microbits might work for geeks but not for average people.

The problem here is: You cannot produce more Bitcoins to cause inflation if they deflate to much (I guess thats what is done with 'regular' money).
What would you do if in a couple of years 1 BTC is worth $5000? You would have to pay $50 for your Coffee because there is no smaller value.
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June 19, 2011, 10:14:04 PM
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bitty
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June 19, 2011, 10:27:53 PM
 #12

A Gox.

spruce
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June 19, 2011, 10:28:19 PM
 #13

Cent.

And shift the decimal point six places so that it matches regular currencies. No regular currency is divisible to eight places. We talk about thousands or millions or billions of dollars or francs or euros, not megadollars or petafrancs. Millibits or microbits might work for geeks but not for average people.

The problem here is: You cannot produce more Bitcoins to cause inflation if they deflate to much (I guess thats what is done with 'regular' money).
What would you do if in a couple of years 1 BTC is worth $5000? You would have to pay $50 for your Coffee because there is no smaller value.

If 1 BTC = $5000, I assume you are talking about the current BTC worth roughly $20 currently increasing in value by a factor of 250x. That doesn't take into account the shift of six decimal places I mentioned. In such a case, a $2 cup of coffee would cost .0004 old BTC or 400.00 new BTC .

If you are talking about an increase in value of 250,000,000x, I think that is unreal! But if it did happen, maybe with the use of BTCs as a pan-Galactic currency, then it wouldn't be too hard to shift the decimal point another six or ten places as needed.
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June 19, 2011, 10:45:13 PM
 #14

A Pointless.
BitCoinBarter
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June 19, 2011, 11:49:22 PM
 #15

.1E-7

Borrowed from E notation. Go to http://www.easysurf.cc/scintd.htm for a notation converter.

It is a good solution, however it can not be true E notation. Maybe we could call it BTC notation.

To figure this out. The 1 (really .1) is the amount of the piece of BTC. The E-7 means the amount of zeros. So .1E-5 would be 0.000001 and .111E-5 is 0.00000111

The reason why this could not be true E notation is because 50.1E-7 is 0.00000501 or .501E-5

If this is adopted (only time will tell) and is on used for fractions of BTC, then we could drop the - and just call it .1E7


Do no evil,

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Crystal Excursion
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June 20, 2011, 12:41:24 AM
 #16

An E-Zevanbit... E7, Easy7, Easyvan-bit

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chippy
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June 20, 2011, 12:42:21 AM
 #17

How about simply "bit"

or maybe bitcent, there are dollar cents and eurocents, so why not bitcents ?
Crystal Excursion
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June 20, 2011, 12:46:26 AM
 #18

How about simply "bit"

or maybe bitcent, there are dollar cents and eurocents, so why not bitcents ?
Cent by nature refers to a division of 100... There already is a bitcent, 0.01 btc Smiley

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June 20, 2011, 12:46:45 AM
 #19

An insignifibit. (or ib)

(as in 'insignificant')
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June 20, 2011, 01:05:10 AM
 #20

titbit.
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