A Proposal for the Mitigation of Bitcoin's Linguistic Transaction Costs

[Mrrr]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

[turvarya]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

I never understood, why they made that decision. Maybe some veteran Bitconar could explain?

[Swordsoffreedom]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

I never understood, why they made that decision. Maybe some veteran Bitconar could explain?

Because it accounts for future growth of the world economy including inflation in the future since no future supply can be created it needed to go into Quadrillions

[turvarya]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

I never understood, why they made that decision. Maybe some veteran Bitconar could explain?

Because it accounts for future growth of the world economy including inflation in the future since no future supply can be created it needed to go into Quadrillions

You misunderstood my question.
I wonderer why they made the decisision to use this 100.000.000 step. Normally you would use steps of 1.000 (like in Mega or Giga), but they decided to make steps in 100 (?). We don't even use this System. We use µBTC which is 100 Satoschi but 1.000th of 1 mBTC which is 1.000 of 1 BTC.
This 100 step to come from Satoschi to µBTC doesn't fit.

[DeathAndTaxes]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

I never understood, why they made that decision. Maybe some veteran Bitconar could explain?

Because it accounts for future growth of the world economy including inflation in the future since no future supply can be created it needed to go into Quadrillions

You misunderstood my question.
I wonderer why they made the decisision to use this 100.000.000 step. Normally you would use steps of 1.000 (like in Mega or Giga), but they decided to make steps in 100 (?). We don't even use this System. We use µBTC which is 100 Satoschi but 1.000th of 1 mBTC which is 1.000 of 1 BTC.
This 100 step to come from Satoschi to µBTC doesn't fit.

The limit of 64 bit int.

[turvarya]

The problem is that 100 million satoshi to a bitcoin is not logical. Should have been 1 million or 1 billion. This makes no sense at all. So before you do anything you should either cut two zeroes or add one.

I never understood, why they made that decision. Maybe some veteran Bitconar could explain?

Because it accounts for future growth of the world economy including inflation in the future since no future supply can be created it needed to go into Quadrillions

You misunderstood my question.
I wonderer why they made the decisision to use this 100.000.000 step. Normally you would use steps of 1.000 (like in Mega or Giga), but they decided to make steps in 100 (?). We don't even use this System. We use µBTC which is 100 Satoschi but 1.000th of 1 mBTC which is 1.000 of 1 BTC.
This 100 step to come from Satoschi to µBTC doesn't fit.

The limit of 64 bit int.

The Limit of int64 is 9.223.372.036.854.775.807(signed) or 18.446.744.073.709.551.615 (unsigned)
http://de.wikipedia.org/wiki/Integer_(Datentyp)

[Arghhh]

   100,000,000  One Bitcoin
    _10,000,000  Ten MEGAtoshi
    __1,000,000  MEGAtoshi
    ____100,000  Hundred KILOtoshis
    _____10,000  Ten KILOtoshis
    _______1000 KILOtoshi
    ________100 Hundred Satoshis
    _________10 Ten Satoshis
    __________1 One Satoshi

+1

This is a good system that lets people feel they have many units in their wallet without turning the nomenclature upside-down. Very Doge.

[Aswan]

I think most people are used to the first 3 here and they would fit quite well:

100,000,000  One Bitcoin
_10,000,000  Ten Cent(s) (abbreviation of Ten Bitcents)
__1,000,000  One Cent (abbreviation of One Bitcent)

Then theres the next 3, which need to be named. Most people have adopted milli bitcoin (mBTC) for 0.001 BTC, others think this may cause problems regarding adoption and pricing. However, since I split it in parts of 3, there can be One - Ten - Hundred Blocks (with the Bitcoin as the 100 Cent replacement as it's the currency name. This is done with most currencies like the Dollar, the Euro etc. if you look at the decimals that are used when shopping. It's 2 decimal places and then most of the time the currency name as "one full unit", which is made of 100 of the lowest amount people usually pay with).
So what we'd need here is a unique name with preferably no more than 2 syllables. "milli Bitcoin" is way too long even tho you could just call is "One Mill". I know the finney is supposed to be 10,000 Satishis but it hasn't been adapted yet. Using the finney for 1,000 Satoshit instead would provide everything needed. It would look like this:

____100,000  Hundred Finneys
_____10,000  Ten Finneys
_______1000 One Finney

The word "Finney" seems unique enough. It has only 2 syllables and consists of 6 characters, which is fine. If would come naturally to people who are familiar with the One-Ten-Hundred system for a currency, and it is consistent among all orders or magnitude.
Another option would be using "One Mill" or something similar as a abbreviation of "One milli Bitcoin" and then get either a unique name for 1,000 Satoshis is just use ten of that for 10,000 Satoshis, Or stick with a Finney for 10,000 and get another unique name for 1,000 Satoshis, or just leave it at "One Thousand Satoshis". However, I consistently using the One-Ten-Hundred model comes more naturally and makes it easier for people to adopt

(the more inconsistent approach:)
____100,000  One Mill (abbreviation of One milli Bitcoin)?
_____10,000  One Finney
_______1000 One Thousand Satoshis


For the last 3 I think Satoshi has been adopted by a lot of bitcoiners alread. Yes, it has 3 syllables, but it's quite unique and it it's written form is easily recognized which is why I think using it in the One-Ten-Hundred system is quite fitting:

________100 Hundred Satoshis
_________10 Ten Satoshis
__________1 One Satoshi