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Author Topic: A new Catchy name for 0.0001 BTC?  (Read 6277 times)
Elwar
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May 10, 2013, 09:19:12 PM
 #21

.000001 is a microBitcoin or a "Mickey".

We should name the new low, 5340 Satoshies as a "Gavin".

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Peter Lambert
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May 10, 2013, 09:25:30 PM
 #22

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

Just call it 0.1 mB (that is read zero-point-one milli-bit)

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May 10, 2013, 11:16:54 PM
 #23

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
But back in the Victorian days, there was 12 pence in one shilling, and 20 shillings in one pound. That means one penny was £0.00416... and not £0.01.
Also, “tupence” is just “two pence”, and “fiver” and “tenner” are just 5er and 10er. If we follow this logic, then the most suitable names would be millies and mickeys, since they come from the suffix (milli- and micro-).

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May 10, 2013, 11:41:21 PM
 #24

I call them 'runts'. It's catchy and memorable.

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May 11, 2013, 12:26:47 AM
 #25

But back in the Victorian days, there was 12 pence in one shilling, and 20 shillings in one pound. That means one penny was £0.00416... and not £0.01.
Also, “tupence” is just “two pence”, and “fiver” and “tenner” are just 5er and 10er. If we follow this logic, then the most suitable names would be millies and mickeys, since they come from the suffix (milli- and micro-).

nice knitpicking, now for my counter offer.

NONE

i wont get personal. but back to the topic at hand sticking with bitcoins as 100,000,000 satoshi and a satoshi as 0.00,000,001 bitcoin. should be enforced. and then having other names inbetween wont be confusing.

but changing the decimal values of what a bitcoin/satoshi is.. now that is confusing
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May 11, 2013, 12:37:55 AM
 #26

supersatoshi?

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May 11, 2013, 12:42:30 AM
 #27

0.0001 BTC = 0.1 mBTC
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May 11, 2013, 04:09:14 AM
 #28

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

I don't think Satoshi is the ideal name, it's meant as an example.

Better to use something with "bit" in the name, since that can be regarded as the brand identifier for Bitcoin.

Also better for the names to be two syllable maximum since its easier and quicker to pronounce.

Anything longer tends to get abbreviated or cut down and given a shorter nickname by people and you then end up with something different to what was originally intended.

Important thing is to keep it simple.

Look at the Euro. When they were brainstorming names people came up with the idea of calling it something with "euro" in it. So they started out thinking in terms of calling it something like EuroFranc, EuroMark even EuroDollar etc.  And even more complex combinations, some using Latin words, and trying to make the name sound profound.

In the event they just settled for Euro - 2 syllables, quick, snappy, everyone happy... except the Greeks ;-)

How about just "Bitcoin" and "Bit"?  

You could then keep the present 1 BTC = 1 Bitcoin, and call the 0.0001 BTC = 1 Bit.  

The currency code could be BIT. So 10,000 BIT = 1 BTC.

A "bit" is also a digital term, but it doesn't crop up in most daily conversation, so little chance of confusion. Can't get more simple than that.

What do people think? Bitcoin and Bit could get my vote!
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May 11, 2013, 05:15:02 AM
 #29

0.0001 BTC (Bitcoin) =  1 NAK (Nakamoto)

1 mBTC = 10 NAK


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May 11, 2013, 05:19:41 AM
 #30

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
"BTC10 Kilo Satoshi" or "BTC10 KS"

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May 11, 2013, 05:25:37 AM
 #31

CSB

cannot spend bit...

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May 11, 2013, 05:31:45 AM
 #32

0.0001 BTC (Bitcoin) =  1 NAK (Nakamoto)

1 mBTC = 10 NAK




NAK NAK Who's there?
20000 Satoshi's

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May 11, 2013, 06:26:34 AM
 #33

To simplify, the name of the smallest unit could be changed from satoshis to bit.

That removes the need to think in fractions of btc all the time, e.g. 0.0001 btc, or adopt additional nomenclature.

We should only think in a single unit, bit.

So the answer is... 10,000 bit.
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May 11, 2013, 06:30:24 AM
 #34

Perhaps Bitcoin subdivisions should be named after body parts, to relate their importance:

1BTC = bitcoin
0.1BTC - brain
0.01BTC - heart
0.001BTC- lung
0.0001BTC - penis
0.00001BTC - balls

I could go on....

just a though,

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May 11, 2013, 09:18:39 AM
 #35

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
But back in the Victorian days, there was 12 pence in one shilling, and 20 shillings in one pound. That means one penny was £0.00416... and not £0.01.
Also, “tupence” is just “two pence”, and “fiver” and “tenner” are just 5er and 10er. If we follow this logic, then the most suitable names would be millies and mickeys, since they come from the suffix (milli- and micro-).

That the Victorians were happy with unusual names and units isn't what I'd call a great reason to continue in their ways.

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May 11, 2013, 09:19:17 AM
 #36

Perhaps Bitcoin subdivisions should be named after body parts, to relate their importance:
In that case, you seem to have mixed up the order.

In theory, there's no difference between theory and practice. In practice, there is.
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May 11, 2013, 09:26:09 AM
 #37

Anyway, I'd say 0.0001 BTC is called "a hundred microBit" or "point one milliBit".

In writing: 0.1 mBTC or 100 uBTC

In theory, there's no difference between theory and practice. In practice, there is.
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May 11, 2013, 10:01:05 AM
 #38

little bitcoin ?  Grin
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May 11, 2013, 11:31:11 AM
 #39

0.0001 BTC (Bitcoin) =  1 NAK (Nakamoto)

1 mBTC = 10 NAK



that's a good one

in financial terms 1/10,000th is normally referred to as a "basis point" or bp (pronounced "Bip")

maybe just Bip with the fancy B would be universal ...
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May 11, 2013, 12:02:39 PM
 #40

0.001 BTC = 1 bit
1000 bit = 1 BTC
0.01 BTC = bcent
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