Denominating a 'BitCent' as a 'Gavin' ?

[bg002h]

I think Hal makes more sense to honor as a unit.

Fully agree with that, no disrespect to Gavin.

Me as well.  Hmmmm... What do you all think about milliBTC also being referred to as "Finneys"?

Hal Finney was on the receiving end of the first BTC transaction from Satoshi.

https://bitcointalk.org/index.php?topic=155054.0

Perhaps 100 Satoshi's should be a Fin? But that would collide with a natural SI prefix (micro)...may be 1k Satoshi's = 1 Fin?

[shawshankinmate37927]

I think Hal makes more sense to honor as a unit.

Fully agree with that, no disrespect to Gavin.

Me as well.  Hmmmm... What do you all think about milliBTC also being referred to as "Finneys"?

Hal Finney was on the receiving end of the first BTC transaction from Satoshi.

https://bitcointalk.org/index.php?topic=155054.0

Perhaps 100 Satoshi's should be a Fin? But that would collide with a natural SI prefix (micro)...may be 1k Satoshi's = 1 Fin?

I was thinking there should be a collision with the metric units.  Something that rolls off the tongue easier than "millibitcoin" or "microbitcoin" but is synonomous.

[PrintCoins]

I think Hal makes more sense to honor as a unit.

Fully agree with that, no disrespect to Gavin.

Me as well.  Hmmmm... What do you all think about milliBTC also being referred to as "Finneys"?

Hal Finney was on the receiving end of the first BTC transaction from Satoshi.

https://bitcointalk.org/index.php?topic=155054.0

Perhaps 100 Satoshi's should be a Fin? But that would collide with a natural SI prefix (micro)...may be 1k Satoshi's = 1 Fin?

I think in canada a fin is slang for a five dollar coin.

In any case, what is wrong with Bitcents. I think everyone gets it right off the bat. That cup of coffee, well that will be 5 bitcents please. Candybar, well that is a half a bitcent.

Right now a bitcent is about equal to a dollar, so it all works out pretty nicely. (I wonder if I will laugh at this statement a month from now, and for what reason)

I say, just go with the word that seems the most natural and that people get immediately without needing to know much about small measures in the metric system. People know what 1 cent is, and way back in the day $0.01 actually could buy you something.

Will this work in the future, when _maybe_ the price is over $1000 each? Lets argue that over when/if we get there.

Right now people are defaulting to calling them Bitcents (including the use in the title of this thread), so this whole milliBTC nonsense just creates more of these pointless threads where the answer is obvious. Just go with what users gravitate to naturally.

[shawshankinmate37927]

I think Hal makes more sense to honor as a unit.

Fully agree with that, no disrespect to Gavin.

Me as well.  Hmmmm... What do you all think about milliBTC also being referred to as "Finneys"?

Hal Finney was on the receiving end of the first BTC transaction from Satoshi.

https://bitcointalk.org/index.php?topic=155054.0

Perhaps 100 Satoshi's should be a Fin? But that would collide with a natural SI prefix (micro)...may be 1k Satoshi's = 1 Fin?

I think in canada a fin is slang for a five dollar coin.

In any case, what is wrong with Bitcents. I think everyone gets it right off the bat. That cup of coffee, well that will be 5 bitcents please. Candybar, well that is a half a bitcent.

Right now a bitcent is about equal to a dollar, so it all works out pretty nicely. (I wonder if I will laugh at this statement a month from now, and for what reason)

I say, just go with the word that seems the most natural and that people get immediately without needing to know much about small measures in the metric system. People know what 1 cent is, and way back in the day $0.01 actually could buy you something.

Will this work in the future, when _maybe_ the price is over $1000 each? Lets argue that over when/if we get there.

Right now people are defaulting to calling them Bitcents (including the use in the title of this thread), so this whole milliBTC nonsense just creates more of these pointless threads where the answer is obvious. Just go with what users gravitate to naturally.

I agree with you completely, except that I think it doesn't hurt for the community to start brainstorming a little bit now about some possible names for the smaller currency units when/if a bitcoin is going for $1000 or more.  Then when/if it happens, we'll see what sticks.

[chriswilmer]

There is already quite a discussion regarding the move from a Bitcoin to a smaller unit. "BitCent", "MilliBit", "Satoshi"... Plenty of options but all of them relatively painful.

Why not rename the BitCent (0.01 BTC) a "Gavin"?

=> It moves down the psychological decimal without compromising the value of a Bitcoin, provides a friendly denomination for the currency + doesn't scare people away with the metric prefixes (many still cringe when they see those.)

Yes! Almost... bitcent is already catchy.

0.001 btc = "gavin"

[AMuppInTime]

"That coffee's 3 Gavin"  > "That coffee's 3 BitCents"

"I have 50 Gavins" > "I have 50 BitCents"


I don't care for the denomination, but the metric system is playing against us in the race to make the currency more accepted by the masses.
(just my 2GV)

[marhjan]

Seriously, we've been debating this issue for at least two years now.  No one is going to be completely happy with any solution, so we all just have to mass together and act as one entity.

Wow wow wow....   centralization much?  I will never call it a millibit - it is a bitmill or btm - and I don't much care for your symbol either.  It's not really that big a deal if people call the various units by different names.  I think in btm (0.001btc) already, and when people talk about millibits or mBTC or whatever I know what they mean.  All the hand-wringing over naming is just silly - you're correct when you say 'No one is going to be completely happy with any solution," but take your petition elsewhere thanks

[justusranvier]

My prediction is that people are going to use "mill" because it is easiest to say and has the least number of syllables.

[Cyberdyne]

My prediction is that people are going to use "mill" because it is easiest to say and has the least number of syllables.

My prediction is that people will still be arguing about this in 2015.

[BlueNote]

I was thinking there should be a collision with the metric units.  Something that rolls off the tongue easier than "millibitcoin" or "microbitcoin" but is synonomous.

You can easily replace all that nonsense with the simple but lovely term "bit." That rolls off the tongue like nobody's business. It's perfect.

A bit is one ten-thousandth of a Bitcoin (4th decimal place), and a Satoshi is likewise one ten-thousandth of a bit at the 8th. Bit stands in for all the mathematical terms which are so bulky and geeky and unnecessary.

A bit is the midpoint. It is utter simplicity and pure marketability as the acting base unit of Bitcoin. If adopted, we will be using this term forever, and it fits perfectly with BITcoin as none of the other metric prefix terms do. It covers a large range right in the heart of the target area for mass adoption. Current price of a bit would be an inviting $.0111.

We do not need to name each decimal place because we have no coinage. Bitcoin is just a number, folks. We need to describe ranges in a convenient logical way, that's all. With this system, we'd have a simple and elegant structure that takes no time to explain: Bitcoin/bit/Satoshi.

Think MARKETING, people. And convenience. And simplicity. And logic. What units do you buy if you want to get into BITcoin? Why, bits of course! You have to imagine water-cooler conversations at work and dinner table conversations at home and magazine articles and tv shows. Sorry, no room for "mBTC" or "millibitcoins" here. Nope. People will be talking about bits. Did you buy any bits yet? What's the price of bits today? Can you spare a few bits, man? Dude, that guy is loaded with bits! Billboard: Got Bits?

I'm sold on this idea and I've commented further on other threads. Please give it some serious thought.

[AMuppInTime]

I was thinking there should be a collision with the metric units.  Something that rolls off the tongue easier than "millibitcoin" or "microbitcoin" but is synonomous.

You can easily replace all that nonsense with the simple but lovely term "bit." That rolls off the tongue like nobody's business. It's perfect.

A bit is one ten-thousandth of a Bitcoin (4th decimal place), and a Satoshi is likewise one ten-thousandth of a bit at the 8th. Bit stands in for all the mathematical terms which are so bulky and geeky and unnecessary.

A bit is the midpoint. It is utter simplicity and pure marketability as the acting base unit of Bitcoin. If adopted, we will be using this term forever, and it fits perfectly with BITcoin as none of the other metric prefix terms do. It covers a large range right in the heart of the target area for mass adoption. Current price of a bit would be an inviting $.0111.

We do not need to name each decimal place because we have no coinage. Bitcoin is just a number, folks. We need to describe ranges in a convenient logical way, that's all. With this system, we'd have a simple and elegant structure that takes no time to explain: Bitcoin/bit/Satoshi.

Think MARKETING, people. And convenience. And simplicity. And logic. What units do you buy if you want to get into BITcoin? Why, bits of course! You have to imagine water-cooler conversations at work and dinner table conversations at home and magazine articles and tv shows. Sorry, no room for "mBTC" or "millibitcoins" here. Nope. People will be talking about bits. Did you buy any bits yet? What's the price of bits today? Can you spare a few bits, man? Dude, that guy is loaded with bits! Billboard: Got Bits?

I'm sold on this idea and I've commented further on other threads. Please give it some serious thought.

really? Do you know how much of a pain it is for regular people between 'bits (of something) ', 'bits (computer)', 'bytes' and you would add another to that list?

[Walter Rothbard]

Right now people are defaulting to calling them Bitcents (including the use in the title of this thread), so this whole milliBTC nonsense just creates more of these pointless threads where the answer is obvious. Just go with what users gravitate to naturally.

Good principle, but the problem is that we geeks naturally gravitate toward obsessing over proper terminology and trying to save the world by persuading others to adopt proper terminology.

[axus]

Correct answer!

Maybe we can designate 5340 Satoshies as a Gavin.

[WiW]

I don't understand what the big deal is. Everyone is calling the mBTC a "milli". We'll be calling the uBTC a "miki" or something like that. It's not complicated at all. And it's not like we'll be switching between these units all the time. You don't see yourself constantly trying to switch between "thousands" and "millions" every day, do you?

"I paid you 10,000 dollars. Wait, isn't that just like 10 thousands?"
"So do I need to give you 0.001 millions, or just one thousand?"
You have singles, hundreds, thousands, millions, and billions. Really simple.
You have satoshis, mikis, millis, and bitcoins. Really simple.

Besides, it's not like a standard will evolve in this thread. The people who are writing the apps and denominating balances and prices, the people who are using and talking about bitcoin balances and prices, the people who are reporting the news of bitcoin balances and prices, they will ultimately decide. All you can do for now is cast your vote by simply using the term you want.

My friends and I are simply calling it "millis" because I told them that's what it's called. End of story.

[johnyj]

My recommendation 

1 BTC = 100 bitcarat
1 bitcarat = 100 bitgrain
1 bitgrain = 100 bitnano
1 bitnano = 100 satoshi

[mgio]

who is Gavin??

What does the number 5340 have to do with it?

[jackjack]

Maybe we can designate 5340 Satoshies as a Gavin.

Give this guy a fucking medal

[mc_lovin]

I think Hal makes more sense to honor as a unit.

+1

[cbeast]

Can we wait until after Gavin dies to memorialize him? Hopefully that is a very long time from now. Sure, there will be statues, schools, and shopping malls named after him someday, but for now let's just use metric denominations for Bitcoin.

[mgio]

This a bad idea.

Naming bitcoin units is as stupid as the Weather Channel naming winter storms and just about as consistent and enforceable.

We don't need anything to detract from the fact it is bitcoin and not some other currency (either virtual or not).

There is nothing wrong with centiBTC, millBTC, etc. Even Americans can understand that as we know what centimeters are and what milliliters are.