sub-units of Bitcoin

[CliffordM]

There is a need for better notation, that doesn't get out of date fast.  millis, and micros etc are too awkward.

My suggestion for how to describe sub-units of coins is to use Log10 notation:

BTC1 = 1 Bitcoin  (The existing format)

1BTC1 = 0.1 Bitcoin (i.e. 10^-1)
2BTC1 = 0.01 Bitcoin (i.e. 10^-2)

etc.etc.

In this way 8BTC1 = 1 Satoshi

So, for example if you wanted to sell something for 0.0075 bitcoins you would say 3BTC7.5  or 4BTC75

[1714314437]

1714314437

[mprep]

I prefer bitmills, uBTCs and bitcents. I just do. Your suggested format just doesn't stick in my mind. Usually, the more numbers, the more difficult. 

[Rannasha]

There is a need for better notation, that doesn't get out of date fast.  millis, and micros etc are too awkward.

What's awkward about using the milli- and micro- prefixes? They're used in all but 3 countries in the world.

[pontiacg5]

It's hard remembering how many zeros milli and micro stand for! At least for Americans...

How would you say 2B2 or .002 btc? 2bit2? I'd rather say two millibits.

[DannyHamilton]

millis, and micros etc are too awkward.

My suggestion for how to describe sub-units of coins is to use Log10 notation:

Right, because the typical person that struggles with a concept such as the metric system will find the concept of Log10 to be quite intuitive.

[mgio]

There is a need for better notation, that doesn't get out of date fast.  millis, and micros etc are too awkward.

My suggestion for how to describe sub-units of coins is to use Log10 notation:

BTC1 = 1 Bitcoin  (The existing format)

1BTC1 = 0.1 Bitcoin (i.e. 10^-1)
2BTC1 = 0.01 Bitcoin (i.e. 10^-2)

etc.etc.

In this way 8BTC1 = 1 Satoshi

So, for example if you wanted to sell something for 0.0075 bitcoins you would say 3BTC7.5  or 4BTC75

wha... this is the most awkward solution ever. No thanks.

[guti]

What's wrong with using millibit / microbit? easy to say and remember

[perezoso]

If this takes off among a broader crowd, I think it'll be like hyperinflation in reverse.  Some South American and other countries used to periodically lop a couple or more zeros off the end of their currencies.... One million Peruvians soles became one Inti, and the like..

For BTC the same thing will happen, but backwards, and although people will know in the back of their minds the place of the "real" decimal point, in practice it will shift right as bitcoin value increases.  So:

BTC0.01 would become 1.00 in day to day notation (a new symbol will be needed), then with deflation, BTC0.001 becomes the "new" 1.00, etc... until you reach the end, which I guess is when BTC0.00000100  becomes 1.00.

I don't think these millis and micros, reliant on "advanced math" and "weird symbols" are going to work with a general population.  Assuming a general population eventually handles bitcoins or, well, very small pieces thereof.

[DannyHamilton]

I don't think these millis and micros, reliant on "advanced math" and "weird symbols" are going to work with a general population.  Assuming a general population eventually handles bitcoins or, well, very small pieces thereof.

Advanced math?


Lop off 3 positions from the left. Call it a millibit.  Use the symbol mBTC

So

BTC0.001 becomes the new mBTC1.0
and BTC0.010 becomes mBTC10
and BTC0.0435 becomes mBTC43.5

How is this advanced math?  How is this any different that what you are suggesting?

[Birdy]

I don't think these millis and micros, reliant on "advanced math" and "weird symbols" are going to work with a general population.  Assuming a general population eventually handles bitcoins or, well, very small pieces thereof.

Guess kilogram and milimeters are not widely used then.

[lucaspm98]

I don't think these millis and micros, reliant on "advanced math" and "weird symbols" are going to work with a general population.  Assuming a general population eventually handles bitcoins or, well, very small pieces thereof.

Guess kilogram and milimeters are not widely used then.

They're not used at all in the United States except for scientific purposes.

[Birdy]

I don't think these millis and micros, reliant on "advanced math" and "weird symbols" are going to work with a general population.  Assuming a general population eventually handles bitcoins or, well, very small pieces thereof.

Guess kilogram and milimeters are not widely used then.

They're not used at all in the United States except for scientific purposes.

Hm, so other countries don't have "general population"?

[Barek]

Better catch up to the rest of the word.  

Also, you put the unit after the number. Oh, and while we are at it ... 1e-5 = 0.00001.

No need to reinvent the wheel.