CJYP (OP)
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August 24, 2011, 04:26:23 AM |
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I've been seeing a lot of discussion about smaller units of BTC, so I decided to make a poll to see what the consensus is, if there is one, about the name of the smallest unit possible with the current software.
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evoorhees
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Democracy is the original 51% attack
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August 24, 2011, 04:36:22 AM |
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If Bitcoin grows to become widespread, we need a very easy, comfortable name - nothing techy like "uBTcents". Bleh.
I think something like "minicoins" would be perfect. Your Starbucks latte will cost perhaps 15 minicoins.
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FreeMoney
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Strength in numbers
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August 24, 2011, 05:05:17 AM |
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10^-8 ten to the negative 8th power ten to the neg eight neg eight negate "Gimme those negates" hmm, nuggets? "Eighteen nuggets for a beer? Outrageous"
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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FreeMoney
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Strength in numbers
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August 24, 2011, 05:06:37 AM |
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If Bitcoin grows to become widespread, we need a very easy, comfortable name - nothing techy like "uBTcents". Bleh.
I think something like "minicoins" would be perfect. Your Starbucks latte will cost perhaps 15 minicoins.
.001 is a millicoin (millie) .000001 is a microcoin (mike) .00000001 is a nugget
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
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geek-trader
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August 24, 2011, 05:21:35 AM |
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.001 is a millicoin (millie) .000001 is a microcoin (mike) .00000001 is a nugget
I like.
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helloworld
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August 24, 2011, 05:30:52 AM |
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1e-8 BTC = 10 nanocoins.
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Insti
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August 24, 2011, 05:33:00 AM |
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Stick with SI prefixes.
10-9 is nano
So the smallest (current) unit would be 10 nano(bit)coins.
Edit: It seems helloworld posted the same thing, but more quickly. I agree with him.
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marhjan
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Poorer than I ought to be
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August 24, 2011, 06:28:00 AM |
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It's a satoshi, deal with it. Just like officially in the US the $0.01 coin is technically called a cent, but many people refer to it as a penny. The United States has NEVER minted pennies but people still call them that. So ok, technically it's 10 nanocoins, but realistically people will be saying SAT, or satoshi. People can tear their hair about what it's officially called, but there are already euphemisms floating around that can't realistically be revoked.
0.01btc is either 1 bitcent or 10 bitmill, no matter what you tell me, and 0.00054026btc is 54,026 SAT, or perhaps rounded to 0.54btm.
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Donations happily accepted @ 15qxNsc7pBiz5kXpAJykw4etzMbZitm2mk
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Serith
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August 24, 2011, 06:37:52 AM |
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Stick with SI prefixes.
10-9 is nano
So the smallest (current) unit would be 10 nano(bit)coins.
Edit: It seems helloworld posted the same thing, but more quickly. I agree with him.
As I described in this post, using nano have it's implications. Everyone used to see portraits of leaders on money. Why shouldn't we have personality attached to bitcoin as well? Vote for Satoshi!
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gressen
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August 24, 2011, 07:51:42 AM |
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I too think that using SI is the way to go. 10 nano it is.
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herzmeister
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August 24, 2011, 07:58:46 AM |
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The United States has NEVER minted pennies but people still call them that.
Not the US, but remember there was a time before the US. The word Dollar comes from the Thaler, and the word Penny from the Pfennig.
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the joint
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August 24, 2011, 08:17:10 AM |
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My candidates.
Poorcoins want-me-some-mo-coins grubcoins invisicoins badcoins nigcoins derka-derka-coins pesos
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Saturn7
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August 24, 2011, 09:28:15 AM |
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I think it should be left as it is, bitcoin should be a global reserve currency where each coin is worth billions of dollars Then everybody else can use other chain blocks of unit sizes for everyday use, where 1 bitcoin would be worth millions of other crypto currency units. Basically a bitcoin is big gold bar, and all the other crypto currencies should be small silver coins.
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First there was Fire, then Electricity, and now Bitcoins
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Exonumia
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August 24, 2011, 10:26:43 AM |
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How about the "Teetominnie" ? Thought process: 10^-8, Ten2theminusEight, T2-E Teetominnie
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gressen
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August 24, 2011, 10:55:18 AM |
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How about the "Teetominnie" ? Thought process: 10^-8, Ten2theminusEight, T2-E Teetominnie Take me to your dealer
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Sukrim
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August 24, 2011, 11:04:50 AM |
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What's "tentominuseleven" then?! Currently "Satoshi" is widespread... What's far more important imho is to shift the decimal point by 3 or 6 digits to the right. 1 single Bitcoin being worth as much as ~ a meal at McDonalds is psychologically not intelligent. There's a reason why you can buy hundreds or even thousands of Nintendo/X-Box/... "points" even if all prices there could be divided by 10 or 100 without any problems. While handling money, many people don't like decimal places and are especially NOT able to grasp the concept of a third relevant decimal place! (0.001 BTC = ~1 US cent!)
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wumpus
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August 24, 2011, 02:43:26 PM |
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I've been seeing a lot of discussion about smaller units of BTC, so I decided to make a poll to see what the consensus is, if there is one, about the name of the smallest unit possible with the current software.
It is just an implementation detail of the current software that will change eventually. You can call it "Satoshi" to honor the author, but please simply use SI units officially. 1e-8 is 10 nanobitcoin (nBTC). Nanobitcoins won't be useful in the forseeable future, though. I've used the SI convention in the Qt (experimental) UI by supporting entry and showing amounts in mBTC (1e-3) and μBTC (1e-6). So people like Sukrim that like to see large numbers can simply change a config option
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Bitcoin Core developer [PGP] Warning: For most, coin loss is a larger risk than coin theft. A disk can die any time. Regularly back up your wallet through File → Backup Wallet to an external storage or the (encrypted!) cloud. Use a separate offline wallet for storing larger amounts.
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stryker
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August 24, 2011, 03:20:55 PM |
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If bitcoing goes widespread then 1 bitcoin should be renamed unobtainium
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iBug
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August 24, 2011, 03:57:58 PM |
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There's no need for a name yet. Let's discuss about it when the $/BTC ratio reaches 1,000 USD. And when the ratio reaches 1 million, the 1e-8 will be 1 USD cent ($0.01).
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foggyb
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August 24, 2011, 07:09:53 PM |
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The United States has NEVER minted pennies but people still call them that.
Not the US, but remember there was a time before the US. The word Dollar comes from the Thaler, and the word Penny from the Pfennig. Check this out: The Thaler (or Taler or Talir) was a silver coin used throughout Europe for almost four hundred years. Thal is German for "valley". A "thaler" is a person or a thing "from the valley". California (ie Silicon Valley) has the largest GDP of any state. The biggest source of US GDP is "from the valley".
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