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Author Topic: A new Catchy name for 0.0001 BTC?  (Read 6281 times)
melvster
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May 10, 2013, 04:18:49 PM
 #1

Since the new update will make it impractical so send one "Satoshi" it looks like the lowest practical amount to send will be:

0.0001 BTC

Many people have come to me saying they like bitcoin but find the fractions hard to deal with.

Is there a name for one tenth of a "millibit"

If not, can we think of a new catchy name?

"One Andresen"? Tongue
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gadman2
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May 10, 2013, 04:20:05 PM
 #2

Maybe a mbtc (which already exists)? 0.001 btc is 1mbtc.


bitbadger
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May 10, 2013, 04:56:27 PM
 #3

How about...

Bitcoin ?



Using names other than Bitcoin - Andresen, Millibit, Satoshi etc will just confuse people.

Instead, redenominate the Bitcoin as 0.0001 BTC and rename the present Bitcoin a Satoshi.

So you will have

1.0 BTC old Bitcoins  = 1 Satoshi.

0.0001 BTC old Bitcoins = 1 (new) Bitcoin


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May 10, 2013, 04:57:45 PM
 #4

How about...

Bitcoin ?



Using names other than Bitcoin - Andresen, Millibit, Satoshi etc will just confuse people.

Instead, redenominate the Bitcoin as 0.0001 BTC and rename the present Bitcoin a Satoshi.

So you will have

1.0 BTC old Bitcoins  = 1 Satoshi.

0.0001 BTC old Bitcoins = 1 (new) Bitcoin




Yeah, that won't confuse people, I'm sure...  Grin

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bitnoob
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May 10, 2013, 05:03:36 PM
 #5

I call it  "Point zero zero zero one Bitcoins"

DeathAndTaxes
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May 10, 2013, 05:06:27 PM
 #6

millicoin informally.

If I was pricing something in print I would just use mBTC.
RoadToHell
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May 10, 2013, 05:09:17 PM
 #7

millicoin informally.

If I was pricing something in print I would just use mBTC.


Wouldn't millicoin imply 0.001 BTC?  (one less decimal place)

Sam Spade: We were talking about a lot more money than this.
Kasper Gutman: Yes, sir, we were, but this is genuine coin of the realm. With a dollar of this, you can buy ten dollars of talk.
RoadToHell
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May 10, 2013, 05:11:56 PM
 #8

How about 4bit?  This would be in line with a broader convention that abbreviates the number of decimal place shifts.  So 2bit would be 0.01, 3bit would be 0.001, and so on.

Sam Spade: We were talking about a lot more money than this.
Kasper Gutman: Yes, sir, we were, but this is genuine coin of the realm. With a dollar of this, you can buy ten dollars of talk.
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May 10, 2013, 05:17:54 PM
 #9

I agree.  This is far too urgent to put off until people come up with their own slang terms, we must decide this now, once and for all.  It is also a matter too important to let languish in any of the hundred other threads, we should each make one new thread about it.

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melvster
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May 10, 2013, 05:19:15 PM
 #10

Maybe a mbtc (which already exists)? 0.001 btc is 1mbtc.



The new minimum will be 10% of an mBTC (sometimes called a millibit)

.01 is often called a "bitcent"

I think people are OK with slang terms ... consider the USD, people use the term "buck" "dime" "quarter" "penny" comfortably etc.

In the UK the term "quid" means 1GBP and "monkey" means 500 GBP

Dealing with fractions is mentally taxing, having easy to remember terms can help ... and maybe even get into the bitcoin dictionary! Cheesy
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May 10, 2013, 06:18:40 PM
 #11

0.1 mBTC or 100 uBTC
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May 10, 2013, 06:31:20 PM
 #12

A skillionth of a whillibit.

Dankedan: price seems low, time to sell I think...
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May 10, 2013, 06:49:17 PM
 #13

millicoin informally.

If I was pricing something in print I would just use mBTC.


Wouldn't millicoin imply 0.001 BTC?  (one less decimal place)

Yes.  Oops didn't notice the extra zero.  Yeah there is no reason to name the 0.0001.  It currently has a value of ~0.12 US cents.  Nobody is going to use it in conversation or pricing.  Saying "the dust threshold is 0.5mBTC" understood by just about everyone.  Still not sure why the devs decided to make it 0.543 mBTC I mean it is likely the 0.043 mBTC has any real significance.  Just make it a nice round "half mBTC".  The min output most miners will accept is half a millicoin.
phillyj
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May 10, 2013, 06:52:08 PM
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It currently has a value of ~0.12 US cents. 

A dollar is a dollar even if it is only 0.77EUR. Should be the same for BTC. If mBTC (1/1000 th) is no longer used, then it will get discontinued. Just like 50 cent pieces or 2 dollars.

So what's the penny, nickles, etc equivalents of bitcoins? Make the Satoshi=100BTC?
owenprescott
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May 10, 2013, 06:55:13 PM
 #15

I hate all the suggestions so far just for the record.  Tongue

How about MicroBTC

or perhaps an alphabetical order so ABTC, BBTC, CCTC? Instead of making a load if different names for each decimal place I feel some degree or order is needed.
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May 10, 2013, 06:57:12 PM
 #16

How about...

Bitcoin ?



Using names other than Bitcoin - Andresen, Millibit, Satoshi etc will just confuse people.

Instead, redenominate the Bitcoin as 0.0001 BTC and rename the present Bitcoin a Satoshi.

So you will have

1.0 BTC old Bitcoins  = 1 Satoshi.

0.0001 BTC old Bitcoins = 1 (new) Bitcoin



Similar to what happened to the Mexican peso, but the other way round.
1 New Mexican Peso (MXN) = 1000 Old Mexican Pesos (MXP).

An economy based on endless growth is unsustainable.
AbsoluteZero
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May 10, 2013, 07:42:14 PM
 #17


0.0001 BTC

Lets call it 10,000 Satoshis
BitcoinUK
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May 10, 2013, 08:21:07 PM
 #18

having names for smaller denominations is not confusing..

back in the Victorian days the UK had:
farthing £0.0025
penny £0.01
tupence £0.02
shilling £0.05
pound. £1.00
fiver £5.00
tenner £10.00
..and so on


even now the americans have:
penny/cent $0.01
nickel $0.05
dime $0.10
quarter $0.25
dollar/buck $1.00
lincoln $5.00
benjamin $100.00

i do however reject the idea to call a bitcoin anything less then 100000000 satoshi's and i reject calling a satoshi anything more then 0.00000001 bitcoins.

anything else in between can be named something, but knowing human evolution, using the terms microbitcoin and millibitcoins will if fully adopted, be reduced to a mike or milly as people start giving them lazy names using less syllables
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May 10, 2013, 08:29:06 PM
 #19

It should be called 1 fortnight furlongs per hogshead dollar.

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May 10, 2013, 09:11:42 PM
 #20

  • 1 mid, because it's midway between whole coin and satoshi.
  • 1 fee, because fees are currently in this range.
However, I believe a name will eventually appear out of the blue and just click. We shouldn't be looking for one. I bet there wasn't any meeting to decide the name for nickels or dimes.

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