What should 100 satoshis be called? (make sure to vote for TWO choices)

[Stevenrm87]

Looks like Bits it is!

[hello_good_sir]

Looks like Bits it is!

Did you even look at the results?  "Bits" is not the first OR second choice of 61.5% of voters.  The majority are opposed to "bits" because "bits" is retarded.

[tspacepilot]

The funniest option in the poll is 'bitcoin'.  That would be pretty confusing:

a: This costs 1 bitcoin.
b: I will send you 100 satoshis
a: No I mean the bigger bitcoin.
b: Oh sorry, in that case I will send you 100000 bitcoins.
a: Yes, that will be fine.

[Peter R]

Looks like Bits it is!

Did you even look at the results?  "Bits" is not the first OR second choice of 61.5% of voters.  The majority are opposed to "bits" because "bits" is retarded.

I think you better re-check your math.  As of right now as I write this, 134 people have participated and 197 votes have been cast (not everyone voted twice like you asked).  

Since "bits" has received 76 votes, at least 76 / 134 = 57% of people picked it as their first or second choice.  But not everyone voted twice, so 57% is an underestimate.  

Now, if everyone had voted twice, we would have had 134 x 2 = 268 votes cast.  So if we apply a linear scaling to all the votes, this would suggest that every option would have received 268 / 197 = 1.36 ->36% more votes.  Applying this linear predictor to the "bits" column, gives 76 x 1.36 = 103 votes.  And 103 / 134 = 77% support for bits (as first or second choice) which is consistent with Solex's poll here: https://bitcointalk.org/index.php?topic=592691.0

It seems "bits" is the clear favourite.  On this poll, many others, Reddit, BitPay, etc.  

[gojomo]

It seems "bits" is the clear favourite.  

Out of a small number of people, driven by campaigners to an out-of-the-way forum.

I'm sure the words 'bits' will see a lot of use. But it also has some major problems in:

• confusing people about the binary-digit bits that give Bitcoin its security – and in a cryptocurrency economy, more people than ever before will need some basic understanding of info-science

• making the core unit seem very imprecise and tiny: "bit-coin" reads as a value of "1/20th-of-a-cent-coin" (dust-like)

• creating confusion with words and 'b'-abbreviations already in use: multiple b-words, and making a B/b uppercase/lowercase distinction, is fragile in communications and commerce

So other words for 100-satoshis will circulate too, more precise and distinctive words, either because they fit into a logical system (like words based on the metric/SI 'micro'/mu/µ modifier), or because they've been chosen for uniqueness of sound and abbreviation (like 'zib'/Ƶ).  

And maybe the other words will prove more useful, to both experts and learners. The real test is usage, not armchair opinions expressed with a click.

[franky1]

It seems "bits" is the clear favourite.  

Out of a small number of people, driven by campaigners to an out-of-the-way forum.

I'm sure the words 'bits' will see a lot of use. But it also has some major problems in:

• confusing people about the binary-digit bits that give Bitcoin its security: and in a cryptocurrency economy, more people than ever before will need some basic understanding of info-science

• making the core unit seem very imprecise and tiny (dust-like): "bit-coin" reads as a value of "1/20th-of-a-cent-coin"

• creating confusion with words and 'b'-abbreviations already in use: multiple b-words, and making a B/b uppercase/lowercase distinction, is fragile in communications and commerce

So other words for 100-satoshis will circulate too, more precise and distinctive words, either because they fit into a logical system (like words based on the metric/SI 'micro'/mu/µ modifier), or because they've been designed for uniqueness of sound and abbreviation (like 'zib').  

And maybe the other words will prove more useful, to both experts and learners. The real test is usage, not armchair opinions expressed witha click.

the pot calling the kettle black
zib is NOT unique. also Ƶ is ALREADY a currency both in the real world history.. and scifi-movie franchise. it is also used in games as game credits.

from http://en.wikipedia.org/wiki/Z_with_stroke#As_currency

As currency
Ƶ was sometimes used instead of Z to represent the zaire, a former currency of the Democratic Republic of Congo.
Ƶ is used as a currency symbol in the video game EVE Online to represent the in-game currency Interstellar Kredits (ISK).
Also, the popular British TV show Doctor Who uses ƶ as the symbol for the unit of money, Galactic Credits

so please there are only you and maybe 3 people that are proper zib fanboys and you are all collectively trying to get your 'product' noticed. yes you have a website and you are trying to be the lead players in the copyright of zib... i know you see a future where you charge a licence for business or software engineer using your word..

please understand we see through your weak theory of the uniqueness of 'zib' and we all are trying to ignore your attempts at promoting such a flaw.

with that said i do see your passion, but maybe you can put your personal greed and future plans aside and do something constructive that actually falls within the consensus of the community. rather then just you and your 3 friends little 'brand'

as for talking about 'bit' being confusing in regards to an 8th of a byte...

http://en.wikipedia.org/wiki/Zebibyte
Zib is also a measure of binary!!!

[tspacepilot]

It seems "bits" is the clear favourite.  

Out of a small number of people, driven by campaigners to an out-of-the-way forum.

I'm sure the words 'bits' will see a lot of use. But it also has some major problems in:

• confusing people about the binary-digit bits that give Bitcoin its security – and in a cryptocurrency economy, more people than ever before will need some basic understanding of info-science

• making the core unit seem very imprecise and tiny: "bit-coin" reads as a value of "1/20th-of-a-cent-coin" (dust-like)

• creating confusion with words and 'b'-abbreviations already in use: multiple b-words, and making a B/b uppercase/lowercase distinction, is fragile in communications and commerce

So other words for 100-satoshis will circulate too, more precise and distinctive words, either because they fit into a logical system (like words based on the metric/SI 'micro'/mu/µ modifier), or because they've been chosen for uniqueness of sound and abbreviation (like 'zib'/Ƶ).  

And maybe the other words will prove more useful, to both experts and learners. The real test is usage, not armchair opinions expressed with a click.

I couldn't agree more.  Especially your last point about the fact that this is living communication system: the right answer will be determined by everyday usage, not a poll

[jbreher]

From the poll:

Total Voters: 141

Nope, not a mandate.

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BTW, a bit is twelve-and-a-half cents, 'murkin.

[gojomo]

the pot calling the kettle black
zib is NOT unique. also Ƶ is ALREADY a currency both in the real world history.. and scifi-movie franchise. it is also used in games as game credits.

It's 'zib' the word (not the Ƶ/Z) that is a unique for a currency unit.

I've mentioned the other prior uses of 'Ƶ' (Z-with-stroke), so I'm not sure why you consider that some discovery.

'Ƶ' is used by no current real-world currency. That's already a clearer field than the '฿' (thai baht) symbol already popular for Bitcoin use. Still, that's not much of a problem; multiple currencies can use the same hinting-characters – many, many currencies use '$'.

What is a problem is relying on subtle B/b, ฿/ƀ distinctions to distinguish amounts – some languages don't even have the concept of upper/lowercase, and some people have already used lowercase 'b' as a Bitcoin-signifier (either alone or with the 'ⓑ' character).

Use in science-fiction for galactic currencies is a good sign. It proves people naturally understand 'Ƶ' as symbolizing a futuristic, high-tech currency.

so please there are only you and maybe 3 people that are proper zib fanboys and you are all collectively trying to get your 'product' noticed. yes you have a website and you are trying to be the lead players in the copyright of zib... i know you see a future where you charge a licence for business or software engineer using your word..

'Zib' is a completely generic term for microbitcoin (100 satoshis) that I made up about 6 weeks ago, owned by no one, open to all. There are no copyrights/trademarks, existing or planned, to my knowledge. Like other spontaneously evolving words, 'zib' is in the pure public domain.

It's offered as a well-matched solution to a language/labeling problem, better in some important ways than the alternatives. That's all.

with that said i do see your passion, but maybe you can put your personal greed and future plans aside and do something constructive that actually falls within the consensus of the community. rather then just you and your 3 friends little 'brand'

There are now 3 people promoting it? That's awesome, I started as just one. Trend looks good. ZIB to the moon, and into the dictionary!

I don't know any way I'd make money from 'zib' being widely used as the precise term for 100 satoshis. (You must be more clever at devious ways of making money than I am.)

as for talking about 'bit' being confusing in regards to an 8th of a byte...

http://en.wikipedia.org/wiki/Zebibyte
Zib is also a measure of binary!!!

Um, 'Zebi' is not the same word as 'zib'. That's also an obscure gigantic unit that, even under very optimistic projections, might never enter common use.

On the other hand, 'bit' as binary digit, a fundamental unit of information, is the central idea 20th-century/21st-century informational and computational science. Bitcoin only succeeds because of a series of breakthroughs in the science of bits, and the computers and networks that rely on them. To meet the future challenges, of scaling and security-against-centralization, even more innovation by people who deeply understand bits will be necessary.

The bit is so important, Satoshi Nakamoto named his brilliant invention after it. So you shouldn't erase or obscure that homage by retroactively redefining 'bit' to mean something else.

[Peter R]

It seems to me that there is broad support for the new unit being 10^-6 ฿ and for the name of this unit to be "bits."  I think the symbol for this new unit is still up in the air.  I personally support ƀ, but I am also open to u฿, μ฿, and μ and probably others.

[klabaki]

I'm re-posting this, because I want to hear more opinions about it:

(Quoted from Reddit)

It's not my favourite actually, but if no consensus can be reached otherwise, I would go with this compromise.

[Aswan]

EDIT: PLEASE MAKE SURE TO VOTE FOR TWO

I think that I wasn't getting many people voting in the poll because there were too few choices.  So I added a bunch of popular choices.  If we each just vote for one it will be hard to come to a consensus, so vote for two.

Now you opened the thread asking for a name for 100 Satoshi without explaining what "100 Satoshi" actually is and still everyone understood what you mean.

This proves that there is no need to call it something else since everyone knows what it is.

[bryant.coleman]

Centoshi is better. Sounds different and unique from Bitcoin. The other choices are dull and lame.

[lijiaren]

I don't think

[rocks]

That last time I looked at it (and it's been awhile so my math memory if fuzzy), if you assume bitcoin becomes a global reserve currency and replaces all national currencies, then the amount/value of 100 satoshis roughly equaled the amount/value of currencies today at current US dollar exchange rates and purchasing power. Or something a little closer to what a dollar bought several decades ago.

So my vote is for:

100 satoshis = a dollar
1 satoshi = a cent

Whether or not this pans out, it makes me smile when I look at my wallet balance in uBTC units.

[miffman]

If we do change, make sure we do it right. I don't think we'll be able to shift back and forth more than once or twice at most.

[tspacepilot]

I don't think

Lol, I don't reply...

If we do change, make sure we do it right. I don't think we'll be able to shift back and forth more than once or twice at most.

This reply is nearly as cryptic as the "I don't think remark".  People have to remember that there's no central authority which will issue a "name change", any number of times.  This thread is merely about a nickname.  Don't canadian's call those dollar coins with the Loon on them "loonies"?  And the two dollar coins "twovies"?  Simiarly, here, we are simply discussing a nickname.

[DeathAndTaxes]

I'm re-posting this, because I want to hear more opinions about it:

(Quoted from Reddit)

It's not my favourite actually, but if no consensus can be reached otherwise, I would go with this compromise.

I think it is the worst possible proposal.

If I have 1,000,000 ug I have a gram.
If I have 1,000,000 uL I have a Liter.
If I have 1,000,000 um I have a meter.

If I have 1,000,000 uBits does that mean I have a bit?

What is a bit?  A bit is a Bitcoin?  Then why are we calling a uBit a bit?  A bit is both a microbitcoin and a bitcoin?  How is that possible.  Is it a recursive function?   

The colloquial for a one microbitcoin (uBTC) is a bit.  Using a SI prefix for something which isn't the base * the SI prefix multiplier is just insane.  It would be like saying 1,000,000 ugrams = a pound.

[jbreher]

I think it is the worst possible proposal.

If I have 1,000,000 mg I have a Kilogram.
If I have 1,000,000 mL I have a KiloLiter.
If I have 1,000,000 mm I have a Kilometer.

If I have 1,000,000 uBits does that mean I have a bit?

What is a bit?

The colloquial for a one microbitcoin is a bit.  Attaching an SI prefix for something which isn't a multiple of the base is just insane.  It would be like saying 1,000,000 ugrams = a pound.

FTFY. I get your point, however, and I agree.

[DeathAndTaxes]

I fixed it the other way (using the micro prefix) but thanks for correcting it.