Contest to name the 0.0001 BTC unit (0.1 BTC prize!)

[westkybitcoins]

As the title suggests, I think it would be better for the Bitcoin community that we skip the milliBitcoin step, and not use microBitcoins, but instead choose to use 0.0001 BTC as the next common denomination.

I believe this is a superior choice because:

1) It gives us more time before making another change than mBTC would

2) It removes the possibility of using common decimal prefixes (milli- and micro-) which, as bad as it may sound, would face resistance in the U.S.

3) It's compatible with a minimum transaction fee of 0.0001 BTC

4) New users would likely be happier with it than mBTC, as they'd get "more" for their money with a smaller denomination (ah, human psychology)

5) The values wouldn't be as large as with uBTC

6) It leaves us with a very manageable 4 decimal places

7) It reduces the transition to satoshis down to two equally-spaced steps, leaving only one familiar future change


To this end, I'm putting up a 1000-digibit (0.1 BTC) prize for whoever comes up with the "best" name for the 0.0001 BTC unit!


The Specifics (please read carefully:)

I.) I am seeking names in this thread, and comments on the submitted names. Submit as many as you like, but only your first 10 names will be eligible for the prize. Don't edit your posts containing your names until after I (or any mod who wants to) quote it, otherwise your names in that post are no longer eligible for the prize, even if one wins. First person to post a name in this thread gets credit for that name. Please stay on topic, etc. Modifications to these naming specifics will only be made if necessary in the obvious interest of fair play (controversy over two submissions, etc.) And, I'm claiming the name digibit primarily as an example, since I neither expect nor really want it to win.

Submissions made past January 11 January 4, 23:59:59 CST (UTC-6) will not earn the submitter the prize, and except due to some extraordinary circumstance will not be considered for the remainder of the contest.

EDIT: Yes, one person can have multiple names chosen for the polls.

II.) Shortly after the deadline, a new thread will be started; it will host a poll of the top twelve names. Comments and suggested modifications on the names will be sought in the thread, along with votes. The top twelve names will be selected for the poll from this thread, based on: apparent popularity in this thread, terseness (fewer syllables is generally better,) lack of obvious faults (a name that's offensive in German probably isn't going to make it,) reflection of related technical or liberty-oriented themes, ease of pronunciation, general marketability, and my own personal bias (I'll try to eliminate it, but let's be upfront: some bias will probably still slip through.) Until the next thread is posted, this contest may be cancelled due to lack of interest or other relevant circumstance. But once that next thread is posted, you can presume I'm 100% committed to giving someone the 0.1 BTC.

Voting and comments for the poll will be open until January 18 January 8, 23:59:59 CST.

III.) After the first poll, a poll of the final four will be posted. The final four will be names from the original list of twelve that are the most popular vote-wise, seemed to garner the most enthusiasm, and were not found to have any obvious faults. Note that any or all of the names may be modified slightly based on feedback from the community in the first poll. The final winner will be determined by voting, although if there is less than a (non-scientific) 3% difference between the top two names, and if there's strong, obvious rationale for the second over the first (for example, if by some miracle the second had already taken hold in mainstream publications,) then the second place vote-wise will be deemed the winning name.

Voting for the final poll will be open until January 25 January 11, 23:59:59 CST.

IV.) I have moved the 1000 digibits to the following address: 1NpTFdJg1kWUpvWaUBZBU3sfxKfXXZifDe

They will remain there until sent to the address specified by the winner. (The extra 1 digibit at the address is because I use Mycelium, and it's needed for the transaction fee.) The winner will be contacted and the prize sent ASAP after the end of the contest.


Final Comments

Obviously, there is (thankfully) no way to force acceptance of the 0.0001 BTC unit denomination, even with a marketable name. But my hope is that this contest will generate enough buzz and discussion around the idea (along with an adequate name!) that it will get bitcoin users to consider it, and to maybe persuade the community to head in that direction.

Good luck!

[1714833949]

1714833949

[1714833949]

1714833949

[1714833949]

1714833949

[IamNotSure]

one cthulhu

[lacrymist]

bitcent

[Scyntech]

Pence

[stuartrgreene]

deBit

[hmmmm]

Nibbles and bits and bits and bits ...

[cp1]

The dollar.

[bitbrasil]

1 SNBit

homage to satoshi naka whoever they are

[Spjuth]

It should be called a Decimill of course!

Edit:
Pronounced Dessi Mill, if you didn't figure that out.

[jackioflap]

Cbit pronounced seebit
Chobit my gfs manga homage
Mbit pronounced embit
Bits
Smidges

Not the most creative but simple is hard to come by.

[westkybitcoins]

bitcent

Pence

deBit

Cbit pronounced seebit
Chobit my gfs manga homage
Mbit pronounced embit
Bits
Smidges

[IamNotSure]

The dollar.

Already taken by the FED

[BlueNote]

I've been advocating that the 4th decimal place be referred to simply as bits. It's perfect for Bitcoin.

The symbol for bits will be BIT.

Simplicity itself.

[Duane Vick]

The bitty.

[Aido]

0.0001 BTC = 100mics (pron. hundredmikes)

[westkybitcoins]

The bitty.

0.0001 BTC = 100 mics (pron. mikes)

EDIT: "mics" as a name for the 0.0001 BTC unit is taken

[Aido]

EDIT: "mics" as a name for the 0.0001 BTC unit is taken

Taken by what?

[HairyMaclairy]

The bitdollar.

(We need to plan ahead).

[AT101ET]

1 Ninjabit
1 Bing
1 Bitten
1 Tibble
1 Nioctib
1 Crunch
1 Flake
1 Crespo
1 Bitsip
1 Hibbit

There, my 10 entries

[nazgul104]

Bitoshi