Hey Guys,
While I'm only able to post on the newbie forum, I figured I would run this by you guys to get some input.
I'm currently working on a project that would involve creating a new unit for 0.001 BTC. There is definitely a need for a new denomination standard, due to the recent price increase. For obvious reasons, it would be inconvenient at best to continue to price things in BTC, when, for example, something costing USD 2.59 will have to be listed as
BTC0.0259; Or in the future,
BTC0.000259
![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
. millibits, or similar names are quite awkward, and don't roll off the tongue; ie. "i'm asking 50 millibits for my sweater".
Thus, we have conceptualized the "bit". There are 1000 bits in a bitcoin, and fractions of hundredths of bits could be simply called cents, or bitcents.
I'm not asking about your prospects for mass adoption, I'm simply asking for feedback, specifically regarding:
1) which symbol should be used
2) what do you think of the "bit" concept in general
![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fsphotos-a.xx.fbcdn.net%2Fhphotos-ash4%2F295332_10100590096613594_471053562_n.jpg&t=665&c=05gxdJ6GbWqBZg)
Thanks for you input!