[POLL] mBit or mBTC for "MilliBit"?

[briguy37]

MilliBit was the community-accepted term for .001BTC back in 2011.  

However, most new people seeing the current abbreviation "mBTC" will pronounce it "milli-Bitcoin" or "Em-Bee-Tee-Cee", both of which are clunky.  

I think using the abbreviation "mBit" instead of "mBTC" will help "milliBit" catch on as the next base unit for Bitcoin.

Pros

• If you don't know how to pronounce it, you'll likely say "Em-bit" or "MilliBit", both of which are succinct and one of which is correct.
• Even if you haven't seen it before, it's easy to figure out (e.g. I'll give you 25mBits for 2 large stuffed-crust pepperoni & green olive pizzas).
• µBit and nBit work too
• Most people still talk of BTC prices in BTC, so there is still time to change.
• This term will help newcomers understand that bitcoins are divisible.

Cons

• BTC is currently abbreviated BTC
• "We've never done it this way before."

Change is slow.  However, if we've learned anything from HODL and the history of bitcoin, this doesn't have to apply to Bitcoiners.  

Your part:
The next time you mention a Bitcoin price, please consider quoting the amount in mBits.



Poll Updates:
I'm not going to reset the votes when an option is added.  Instead, I'll list the current votes when I add an option.

• mBT was added when the vote was:  mBTC=12, mBit=6, other=?

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[bambou]

how about considering 'megabit' for 1 000 BTC ?! thats the only scale which would make my life easier

[briguy37]

how about considering 'megabit' for 1 000 BTC ?! thats the only scale which would make my life easier

MBits work too.  I wouldn't mind having a couple of those either...  

Edit:  Actually, now that I think about it "kBit" would be a better fit.  However, I still wouldn't mind having Satoshi's 2 MBits

[skivrmt]

Cons

• BTC is currently abbreviated BTC
• "We've never done it this way before."

While most people, even I, do use BTC currency abbreviation for Bitcoin, the "technical" abbreviation of Bitcoin is XBT.  No sovereign country can claim Bitcoin so hence the "X" to begin with.

[briguy37]

While most people, even I, do use BTC currency abbreviation for Bitcoin, the "technical" abbreviation of Bitcoin is XBT.  No sovereign country can claim Bitcoin so hence the "X" to begin with.

Yeah, even if "XBT" became the ISO standard today I would guess that "BTC" as the most commonly used abbreviation would still give "XBT" a run for its money, no pun intended.  Let me know if you want me to add "mXBT" to the poll, though.  

[bambou]

i just found that post in some other thread and i believe that this is a fair argument:

I have sold a few bitcoins to friends and people at bitcoin meetups. I have found that using milli BTC is easily understood and very convenient. eg I recently quoted 110 millies for $100 and it sounded much nicer than zero-point-one-one. It might even have reassured the buyer about whether he was getting anything significant.

If the value goes up by another order of magnitude or 2 (ha!) using uBTC (mickeys) might be better.

so i like quite much 'millies' and 'mickeys'

[qiwoman]

I have gone for mbit as it sounds nice and technical..we can use milibit, microbit any bit on the back of bit. I don't mind mbtc though either so will be happy with whatever they decide in the end to keep it as.

[bambou]

I have gone for mbit as it sounds nice and technical..we can use milibit, microbit any bit on the back of bit. I don't mind mbtc though either so will be happy with whatever they decide in the end to keep it as.

yeah just write mBTC and pronounce it 'milibit', 'millies' or 'miliBTC' i think people should understand it.. like a 'penny' or a 'cent'.
and 'microbit', 'microBTC' or 'mickeys' works just fine too (written uBTC)

[knightcoin]

MilliBit was the community-accepted term for .001BTC back in 2011.  

I really like that "back to the roots" thing..

I think using the abbreviation "mBit" instead of "mBTC" will help "milliBit" catch on as the next base unit for Bitcoin.

Although mBTC helps to keep Bitcoin abbreviation to crypto exchanges

Anyways my vote went to mBit, sounds better  

[abacus]

If we agree that the most used term is BTC, it seems logical to me to call mBTC its 1/1000 fraction.
Likewise, I think that XBT and mXBT should be used, IMVHO, in technical/financial contexts.

SI metric prefixes and ISO standards seem to work pretty well: why don't comply with them?

Edit:
I was referring to how I think they should be written.
About the spelling, I think it isn't a big problem as the languages evolve by itself.
milli-bit, for example, is a good verbal short form of milli-bit-coin (written mBTC).

Edit 2:
mXBT cannot exist because a currency code has to be 3 chars long.

[blueberry]

How about:

10 xBT = 10 bitcoins
10 mBT = 10 millibits
10 uBT = 10 microbits

As simple as possible.

[Xav]

Millibits, microbits? They sound so tiny, so cheap, so meaningless, yet we all know they are worth quite some money. Recently I read a post that beautifully centered the 100 million units by taking  the "root" of 1 BTC, which gives 10,000 Satoshi.

100 micro Bitcoin = 0.1 milli Bitcoin = 1 rootBitcoin = 1 rBT = 1 rBTC

[briguy37]

How about:

10 xBT = 10 bitcoins
10 mBT = 10 millibits
10 uBT = 10 microbits

As simple as possible.

I've added mBT as an option to the poll.

[Erdogan]

Emmy

[blueberry]

How about:

10 xBT = 10 bitcoins
10 mBT = 10 millibits
10 uBT = 10 microbits

As simple as possible.

I've added mBT as an option to the poll.

Thanks. 

But the other options now have had a head start. 

Maybe you should reset the poll. But if not it's fine with me.

[jeffg]

mBit sounds like network bandwith to me. The only reasonable option for me is mBTC.

[Bobsurplus]

yoooooo send me 4 Bitski's I gotta take the bus!

Bitski!

[briguy37]

But the other options now have had a head start.  

Maybe you should reset the poll. But if not it's fine with me.

The best I could come up with without resetting the poll was to post where the vote was at when I added "mBT" as an option.  That way, whoever wants can subtract those votes to see how it resonates with new voters.

[blueberry]

But the other options now have had a head start.  

Maybe you should reset the poll. But if not it's fine with me.

The best I could come up with without resetting the poll was to post where the vote was at when I added "mBT" an option.  That way, whoever wants can subtract those votes to see how it resonates with new voters.

Fair enough. 

[briguy37]

Recently I read a post that beautifully centered the 100 million units by taking  the "root" of 1 BTC, which gives 10,000 Satoshi.

100 micro Bitcoin = 0.1 milli Bitcoin = 1 rootBitcoin = 1 rBT = 1 rBTC

I like it, but I'd shorten it to "rootCoin":  The square root of the "root" crypto.  

However, as it's not an abbreviation for "MilliBit" I have to leave it off this poll.