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Author Topic: POLL: What name would you give to the smallest unit of bitcoin (0.00000001)?  (Read 13320 times)
Alex Beckenham
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June 26, 2011, 01:43:19 AM
 #101

That don't need a name.

Yeah, let's call them 0.00000001 btc Cheesy

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June 26, 2011, 09:37:24 PM
 #102

0.00000001 - 8 bit
0.0000001 - 7 bit
0.000001 - 6 bit
etc

or perhaps a TidBit
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June 26, 2011, 09:51:08 PM
 #103

ittybittytittycoin
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June 26, 2011, 10:23:53 PM
 #104

Benny
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June 26, 2011, 10:44:26 PM
 #105

NotMuch Smiley
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June 27, 2011, 05:37:58 AM
 #106

1 = bitcoin
0.01 = cent
0.00001 = millicent
0.00000001 = microcent

If you found this post useful, feel free to share the wealth: 1E35gTBmJzPNJ3v72DX4wu4YtvHTWqNRbM
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June 27, 2011, 05:57:01 AM
 #107

Trying to keep in line with actual units of measurements in the metric system, since we;re one decimal place off a nanobit, a good compensation would be "ninobit", in my opinion.

But I agree with some posters above, that the decimal should be shifted all the way to the right and not be used. I thinks the fact that bitcoins can be divided so small makes them seem silly to non bitocin users and can hinder their use in the real world, for average people. The decimal really serves no purpose since at the rate the value of BTC is climbing, in the future very few people will even be able to talk about whole bitcoins...

-Mike
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June 27, 2011, 06:25:02 AM
 #108

What about Bitlet?

+1

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June 27, 2011, 06:14:53 PM
 #109

But I agree with some posters above, that the decimal should be shifted all the way to the right and not be used. I thinks the fact that bitcoins can be divided so small makes them seem silly to non bitocin users and can hinder their use in the real world, for average people. The decimal really serves no purpose since at the rate the value of BTC is climbing, in the future very few people will even be able to talk about whole bitcoins...

-Mike

I second using this method.  Average people are not accustomed to using currency that is divisible to the 8th decimal place.  Such a change would be difficult for people to adapt to.

--Tod
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June 27, 2011, 08:06:08 PM
 #110

UberCent
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June 27, 2011, 08:08:05 PM
 #111

1 = bitcoin
0.01 = cent
0.00001 = millicent
0.00000001 = microcent

This sounds good.
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June 28, 2011, 08:54:25 AM
 #112

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June 28, 2011, 11:47:06 AM
 #113

But I agree with some posters above, that the decimal should be shifted all the way to the right and not be used. I thinks the fact that bitcoins can be divided so small makes them seem silly to non bitocin users and can hinder their use in the real world, for average people. The decimal really serves no purpose since at the rate the value of BTC is climbing, in the future very few people will even be able to talk about whole bitcoins...

-Mike

I second using this method.  Average people are not accustomed to using currency that is divisible to the 8th decimal place.  Such a change would be difficult for people to adapt to.

--Tod

Agreed. There are many currencies that don't have decimal points now, and they work just fine. See yen, krw, or the Thai Baht (satang is their 'cent' but its so small!).
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June 28, 2011, 11:49:15 AM
 #114

Worthless
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June 28, 2011, 12:09:25 PM
 #115

Just use SI prefixes!

1BTC = 1 bitcoin
0.1BTC = 1dBTC = 1 decibitcoin
0.01BTC = 1cBTC = 1 centibitcoin
0.001BTC = 1mBTC = 1milibitcoin
0.0001BTC = 1dmBTC = 1 deci-milibitcoin
0.00001BTC = 1cmBTC = 1 centi-milibitcoin
0.000001BTC = 1µBTC = 1 microbitcoin
0.0000001BTC = 1dµBTC = 1 deci-microbitcoin
0.00000001BTC = 1cµBTC = 1 centi-microbitcoin
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June 28, 2011, 12:27:02 PM
 #116

nobit
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June 28, 2011, 12:55:41 PM
 #117

Just use SI prefixes!

1BTC = 1 bitcoin
0.1BTC = 1dBTC = 1 decibitcoin
0.01BTC = 1cBTC = 1 centibitcoin...

The prefixes "deci" and "centi" are not SI prefixes. They are leftovers from the pre-SI metric system, and they add more complexity than benefit. So let's keep it simple...

1 BTC = 1 bitcoin
0.001 BTC = 1 mBTC = 1 millibitcoin (nickname "one Millie")
0.000001 BTC = 1 uBTC = 1 microbitcoin (nickname "one Mike")

The base unit of 0.00000001 BTC is the same as 10 nanobitcoins, but I think this will be confusing because we cannot represent 1 nanobitcoin (so how can we have ten of them?). The existing usage seems to work well enough:

0.00000001 BTC (nickname "one Satoshi").
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June 28, 2011, 02:31:52 PM
 #118


ShitBit
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June 28, 2011, 03:53:27 PM
 #119

Uselessbit
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June 28, 2011, 04:33:21 PM
 #120

A NanoBit.
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