[POLL] End the 'bit' controversy: What to (nick)name 100 Satoshi / 1 µXBT

[zimmah]

Currently the name 'bit' is in a lot of controversy and a lot of confusion is being caused by the use of this nickname.

Some people believe a bit is an abrevation of bitcoin and thus a bit = 1BTC
other people think a bit is the smallest possible amount of bitcoin (a bit being the smallest unit) and thus 1 satoshi
technically a bit is also $0.125
and some people also think a bit is a good name for 100 satoshi

Of course it's incredibly confusing, especially for newcomers, if we have at least 4 different kinds of bits and everyone means something else with the same word.

In order to make bitcoin less confusing (as it's already confusing enough for most newcomers) we need some consensus on how to name the unit of 100 satoshi so that we can avoid having to call it a bit.

As most people agree on, 100 satoshi should have a name because most currencies just work with two decimals and it's just easier to use like that.

So let's vote for the best name, and if you have any other suggestions just post them here as well.

You can choose up to 3 options you like / agree with.

personally i think mills and mikes work pretty well for various reasons

[jbreher]

Poll is invalid. No option for 'pie'.




Incidentally, you misspelled 'zib'.

[phillipsjk]

Thanks for doing this. The whole "bit" thing snuck up on me

[blatchcorn]

100 satoshi

[pandacoin]

Why do we have to name everything? 100 satoshi is 100 satoshi, that's all.
A lot of names come up with confusion, new people can't understand that way. Bitcoin, mBTC and Satoshi is enough.

[fryarminer]

You're missing a bit. Get it? haha awkward laugh haha.. Ugh another poll.

[zimmah]

You're missing a bit. Get it? haha awkward laugh haha.. Ugh another poll.

The reason for this poll is to avoid using either uBTC or bit as neither of them will be good names for everyday use. (uBTC is too complicated for Americans and bits are not unambiguous)

[zimmah]

Poll is invalid. No option for 'pie'.




Incidentally, you misspelled 'zib'.

Pie would be confiding as well (people might think its 3.14159265 bitcoin or twice that)

I edited my missspelled zib

[jc01480]

This horse has been beat to death.  Almost as annoying as the China FUD.

[BTCat]

1,000 SAT = 1 KSAT

[FeedbackLoop]

A Finney.

[singularity]

Oh come on dude!

This poll is worthless since you decided on your own that "bit" is not viable even though most people disagree with you.

You make a pole specifically where "bit" is not an option simply because you know that this is the case.

Have some honour man.

[singularity]

1 millionth of a bitcoin = a bit.
100 millionth of a bitcoin = a cent or a bit cent.

In my opinion this is the most appropriate solution for the average person.

Stop pushing your agenda onto people Zimmah.

[101111]

Bit

[franky1]

A*holes...  please stop making new poll. this is like the bitcoin foundation re voting and revoting until finally they get a pedofile voted in..

it does no good for anyone..

the community has already voted bit as being over 70% winner out of over 500 voters.. so unless you are offering any brand new names stop making newpolls that are all the same old idea's but simply and with huge biases ignoring 'bit'.

[zimmah]

Oh come on dude!

This poll is worthless since you decided on your own that "bit" is not viable even though most people disagree with you.

You make a pole specifically where "bit" is not an option simply because you know that this is the case.

Have some honour man.

first of all there's not a majority of people who disagree, it only looks like currently a 'bit' is used widely on reddit as the most common nickname. However there is much controversy on the name.

Also, the people that 'disagree' with me come with arguments like: "but 100 satoshi need a name so we can divided a bit in 100 satoshi" which is NOT an argument for the name, but an argument for the unit itself.

Also, why is this poll valid, and the one i posted is not?

The poll i made is to find alternatives for the word 'bit' that is not controversial and not confusing.

1 millionth of a bitcoin = a bit.
100 millionth of a bitcoin = a cent or a bit cent.

In my opinion this is the most appropriate solution for the average person.

Stop pushing your agenda onto people Zimmah.

this is exactly what i mean, people just want a name for the unit but they believe 'bit' is the only available name. My goal is just to show that 'bit' is not the only possible name and there are much better names out there.

Also, a bitcent would be 0.01BTC and not 0.00000001BTC (which is called a satoshi)

A*holes...  please stop making new poll. this is like the bitcoin foundation re voting and revoting until finally they get a pedofile voted in..

it does no good for anyone..

the community has already voted bit as being over 70% winner out of over 500 voters.. so unless you are offering any brand new names stop making newpolls that are all the same old idea's but simply and with huge biases ignoring 'bit'.

wrong, the community voted for NAMING the unit µBTC but there never was a poll on WHAT the name should be. And this poll is there to do just that. You are blaming me for skewing a poll while you did exactly just that. I am just repairing the damage you caused. And i'm definitely not the only one who thinks this:

Below this line are some quotes

https://bitcointalk.org/index.php?topic=617549.0

I'm increasingly seeing people use the "bit" unit, how much is 1 bit? I've never seen this unit explained.

I'm increasingly seeing people use the "bit" unit, how much is 1 bit? I've never seen this unit explained.

Not sure. It's not on here: https://en.bitcoin.it/wiki/Units

You sure it's not just an abbreviation of Bitcoin. Ie 1 bitcoin equals 1 bit?

Not this again  

All these units are really confusing. Havent even heard of half of them.

Having two decimal points is something a lot of financial software has come to expect…

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

(yet another argument for the UNIT, not for the NAME)

I'm increasingly seeing people use the "bit" unit, how much is 1 bit? I've never seen this unit explained.

Bit is just an abbreviation of Bitcoin.

People who don't feel like typing out the entire word "Bitcoin" will often stop after the first three letters, assuming that the rest of the word is implied.

As such, 1 bit is currently (at the moment that I'm typing this) equal to $470.00 at BitStamp (see there's that word "Bit" again imbedded in the name of the exchange).

That means that 1 bit is equal to:

• 1 bitcoin
• 1,000 millibitcoin
• 1,000,000 microbitcoin
• 100,000,000 Satoshi

This is going to bring most Americans to a grinding halt since we didn't go by metric system - that was taught secondary as an aside so most of us feel like 3rd graders again when we encounter it, right before summarily dismissing it in favor of the good old "Murican way.  

bit is not metric at all! Apart from it never being defined not even on the tipping bot website where I saw it being used most, people hugely disagree on what it means and it totally confuses people.

mɃ and uɃ or µɃ are "metric-ish" as they are compositions of a base unit Ƀ/BTC/Bitcoin/BTC (we all know) and a multiplier out of the well known set of nano (the smallest that would make sense for Bitcoin denominations), micro (µ/u to distinguish from milli that also starts with m), milli, kilo, Mega, Giga, Tera (and as Bitcoiners we increasingly get used to Peta-hashes/s as well as Exa later this year … and eventually next year Zetta )

- snip -
I personally don't like bit as abbreviation for btc because it can cause confusion with other bits like electronics bits or quantum bits

Or other monetary bits?

http://en.wikipedia.org/wiki/Bit_%28money%29

Having two decimal points is something a lot of financial software has come to expect…

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

A bit is a micro-bitcoin. This leaves two decimal places...

From link above:

"Fundamentally, the goal is to move to micro-bitcoins (uBTC, “bits”). This is most compatible with existing financial software."

It's not at all compatible with an already existing word used in the tech world as well. I am pretty sure it's just an occurrence we'll get rid of eventually.

I don't know who came up with the idea. I don't think it's very clever to introduce "bit" as another unit. It's simply confusing. Satoshi and Bitcoin are enough.

ya.ya.yo!

If you know what satoshi's are, it is 1 satoshi. Or 1/1000000 of a Bitcoin

Nope. 1 bit = 100 satoshi

Nope. 1 bit (abbreviation for bitcoin) = 100,000,000 satoshi

100 satoshi is a mike ( abbreviation for microbitcoin)  

People, get it together....

BTC1 Bitcoin = 1,000,000 Bits
BTC 0.000001 Bitcoin = 1 Bit
BTC 0.00000001 Bitcoin = 1 Satoshi
0.01 Bits = 1 Satoshi

Bit is solid because in the current protocol it leaves 1 Satoshi (the smallest possible increment) as 0.01 Bits.

This makes "Bits" or "Bit" compatible with every existing accounting system/shopping cart out there....

edit: DOH! added correct 0's

the fact that this tread exists means bit is a terrible name, although having a name for the 100 satoshi unit is a nice thing, 'bit' is just a very stupid name.

If you know what satoshi's are, it is 1 satoshi. Or 1/1000000 of a Bitcoin

Nope. 1 bit = 100 satoshi

Nope. 1 bit (abbreviation for bitcoin) = 100,000,000 satoshi

100 satoshi is a mike ( abbreviation for microbitcoin)  

there, that's logical.

1 dollar = 1 dollar
1/100 dollar = 1 cent (short for centi)
so 1/1000000th of a bitcoin = mike (short for micro)

+1

This guys actually came up with something that is not confusing and just as short plus it has an actual meaning that comes from the unit it represents. I am gonna start using this immediately.

Simply means 1 BITcoin

From reddit:

This seems like a very American problem.
I buy my milk in liters (l)
I buy my wine in centiliters (cl)
I buy my nasal spray in milliliters (ml)
I buy my rice in kilograms (kg)
I buy my Coke in grams (g)
I take my MDMA in milligrams (mg)
I measure my penis in micrometers (um)
It comes natural to most of the world and if you get it wrong once you don't get it wrong again!

(this is the top comment) http://www.reddit.com/r/Bitcoin/comments/1rmto3/its_bits/

It is my understanding that "bit" is slang for the male genitalia in French.

People have been bikeshedding about these things for years now. There have been bitcointalk threads about this since 2011 and maybe even before that.
The developers of bitcoin-related software seem to stick to metric prefixes and it seems unlikely that this will ever change. There's no need to worry about the latest reddit proposal; it will have zero impact like all the others before it.

you may have a point. In most polls the traditional 'millibit' seems to win consistently.

Yep. If people want a nickname, pick anything that won't be confused with hard-drive sizes, FFS.
/u/changetip 5 mBTC

also, there was a thread about this years ago, but they never managed to actually find a name other than µBTC apperantly.

https://en.wikipedia.org/wiki/Mill_(currency)

[franky1]

wrong, the community voted for NAMING the unit µBTC but there never was a poll on WHAT the name should be. And this poll is there to do just that. You are blaming me for skewing a poll while you did exactly just that. I am just repairing the damage you caused. And i'm definitely not the only one who thinks this:

there were weeks of discusswion and polls.. long before this one:
https://bitcointalk.org/index.php?topic=592691.0

and then after the lengthy and endless mini polls and debates. the link above is the final result that meant to have been the end of the saga..

now some A*holes are bringing it up again. but this time being biased a*holes perposefully ignoring bit..

the failure of these a*holes is their biased and rigged voting. without looking at the previous polls or debates to have a truly open vote. thats why im pissed off with them dragging up something that has already been debated to death which already had a larger vote winner compared to anything the bitcoin foundation have had or anything else that had been voted on in the past.

infact more people prefer bit.. then prefer pedofiles in the bitcoin foundation
infact more people voted for bit.. then the total voters of the foundation. meaning more people care about bit, then they do about the foundation.

so review the history and realise that endlessly going in circles is not getting anything solved. the consensus has decided on bit, with a over 70% vote..

now lets just use it and move on with other projects. there is no point spending months debating names and never using them. thats just delaying innovation.

[zimmah]

wrong, the community voted for NAMING the unit µBTC but there never was a poll on WHAT the name should be. And this poll is there to do just that. You are blaming me for skewing a poll while you did exactly just that. I am just repairing the damage you caused. And i'm definitely not the only one who thinks this:

there were weeks of discusswion and polls.. long before this one:
https://bitcointalk.org/index.php?topic=592691.0

and then after the lengthy and endless mini polls and debates. the link above is the final result that meant to have been the end of the saga..

now some A*holes are bringing it up again. but this time being biased a*holes perposefully ignoring bit..

the failure of these a*holes is their biased and rigged voting. without looking at the previous polls or debates to have a truly open vote. thats why im pissed off with them dragging up something that has already been debated to death which already had a larger vote winner compared to anything the bitcoin foundation have had or anything else that had been voted on in the past.

infact more people prefer bit.. then prefer pedofiles in the bitcoin foundation
infact more people voted for bit.. then the total voters of the foundation. meaning more people care about bit, then they do about the foundation.

so review the history and realise that endlessly going in circles is not getting anything solved. the consensus has decided on bit, with a over 70% vote..

now lets just use it and move on with other projects. there is no point spending months debating names and never using them. thats just delaying innovation.

you think my poll is rigged while your poll has the options:

use 1 bitcoin
use 0.001 bitcoin
use 0.000001 bitcoin AND name it bit

how is that not rigged?

My poll is to use 0.0000001 and vote for the name. Bit and µBTC are both banned from the poll, but you can enter trillions of other names. The reasons why Bit and µBTC are banned have been discussed to death allready, i suggest you read up on it.

Again, people did not vote for the NAME bit, they voted for the AMOUNT of µBTC, and the fact that you rigged you poll to name the unit a bit doesn't prove anything.


The name 'bit' is not innovative. The name 'satoshi' was. There's no one in the forums (even newbies) who ask 'what is a satoshi and how much is it worth', but there are many people who don't know what a bit is and how much is it worth. And, even more dangerously, people disagree on how much a bit is worth.

also, 'ubit' is just as catchy in my opinion and not nearly as confusing. and mikes and mills are very similar to cents and mills are ACTUALLY in use in currency as well.  https://simple.wikipedia.org/wiki/Mill_(currency)

The whole point of naming the amount of µBTC with a catchy name was to promote bitcoin to newcomers and avoid confusion. 'Bit' has, in the short period of time were people used it, already proven to FAIL at that job. While either of the names provided in the poll (and in my opinion ESPECIALLY ubit, mills and mikes) are perfect for the job, they're catchy and immediately obvious to even the freshest newcomer.

[singularity]

Your desperation is slightly sad.

Get over it man. You can call bitcoin whatever you like. Other people just disagree with you. It's ok.

[zimmah]

what are you afraid of, your precious bit losing ground after being viral for 2 weeks because some better name will replace it before a lot of newcomers storm to the forums after next bull run?

Are you afraid people won't be confused by bit because i have prevented that disaster to come because i have already thought ahead unlike most others?

As you can see below, mills are not unpopular at all, and pre-date bits by 2 years, if mills and cents are used, mikes can also be used.
on a topic on what to call 1/1000th bitcoin:

singular - milli
plural - millies

1milli
10 millies

Millies, as a friendly form of millibitcoins.

I like it because it goes with Mikes, a friendly form of microbitcoins, and someone is sure to do a nice logo of Millie and Mike.

Millies, as a friendly form of millibitcoins.

I like it because it goes with Mikes, a friendly form of microbitcoins, and someone is sure to do a nice logo of Millie and Mike.

Millie and Mike could even be friends with Bob and Alice

I think creating names for 0.001, 0.00001, etc. is silly.
Just use two different units BTC and something like satoshi/bitcoinunits/bitcreds/credits representing 0.00000001 BTC.
The problem with milli/micro/nano is that when you get a bitcoin amount like 0.00245678, what random btc name do you use..?

Also it's a LOT easier to tell the size of something when it's larger because of commas and no leading zeros:
eg 34,400 BCU vs 0.00034400 BTC

That would be 2 millies, 456 mikes and 78 satoshis
or
245678 satoshis

Millie for .001 is the winner, imo.

May I propose 'milray' for .0001?

Mark Twain introduced a fictional elaboration of the mill in A Connecticut Yankee in King Arthur's Court. When Hank Morgan, the American time traveler, introduces decimal currency to Arthurian Britain, he has it denominated in cents, mills, and "milrays", or tenths of a mill (the name perhaps suggested by "myriad", meaning ten thousand or by the Portuguese and Brazilian milreis).

http://en.wikipedia.org/wiki/Mill_%28currency%29#Fiction

12GHuMPPZDxDqtZZS6wP2FTv2c4V4KPohW

I like "mills" or "millies".

The new default transaction fee is 5 mills per kilobyte, by the way.

1 satoshi  =  1e-9 BTC (since it/he doesn't really exist)

0.001 BTC = 1e-3 BTC  = = 1 millibitcoin  =  1 million satoshi  = 1 mill


I propose "1 mill"


we can have two camps one going to the left of the decimal, the other to the right and things can be thoroughly confused (and conflict with abbreviated millilitres and milligrams) but they will both agree on the mill.

mBTC - mills ftw! A single syllable and easy to understand.

I like using the slang of "millies" and "mikes" for the more formal "millibits" and "microbits", respectively.

These names are very easy to remember, for those of us that understand that 1 milli = 1e-3 and 1 micro = 1e-6.  Certainly almost everyone on this forum is going to intuitively grok that nomenclature.  It also gives me the mental picture of a bill with a face printed on it, in the same way that the term "Benjamin" refers to a $100 bill.

[Edited]Also, it appears that we already have general consensus that 0.00000001 BTC = 1 satoshi.

I agree with the abbreviation mbtc, the formal conventional form, millibits, in formal long form, millibitcoins, and in slang, mills or millis,

Not sure if this has been mentioned, but a millcoin makes the most sense to me.  1 mill = 1/10th of a cent.

mBitcoin is also another good one.

How about:
1 = bit
0.01 = 10^-2 = nit
10^-4 = mit
10^-6 = dit
10^-8 = pit

or substitute for your favorite 1st letters.

Actually, maybe nit and mit might sound too similar, e.g. over the phone, "WHAT, you're selling your car for 99 nits? That's a hundred times more than I expected,... ahh, mits, mits, now I understand. Haha, I thought you said nits, haha."

A car for 99 mits... hmm, that'd be about $200,000 per bit, depending on your definition of car.  Guess it'll take a while to get that high, though if it went up a factor of 10 every month, like last month, then we've only to wait until 2012 at the latest.

millibit
millicoin

Here are submissions so far, in roughly reverse alphabetical order:

zibit

ubitcoin

TriBit (2)

Tiny-Bit

tidbit

tBit - pronounced tee-Bit; t as in one thousandth of a BitCoin

nibit

Nibble

nanocoin

Milth

millie(s)

millicoin,milicoin (9)

millicent

milliBitty

Millibitcoin

millibit,milibit (15)

Millebit

millcoin

MillBit

MiliBit

miliBC

milbtc

MilBits

mil

Microcoin

mic

mBTC og 1000-parts

mBitcoin

m1, 2m etc.

Little Penny Bitcoin

Litbit

LilBit  (2)

Kris

groat

farthing

do bit - at this small size it's no longer a question of value but principles - what will you do in the world with a tiny little influence?

credit

Bity

BittyCoin

BittyCent

bitty bitlet (then 0.01 is a bitlet, then 0.01 is a bit, then 1.0 is a bitcoin)

Bitty (plural form: Bitties)

bitty

Bitping

bitney

bitmillit

BitMillen

10 satoshi's

BitMill, Bitmil - (10)

Bitmi

bitly

Bitlet, bitlit (4)

bithun

Bithou

BitDots

Bitcoin atom

Bitchit

bitcent (2)

BitByte  (2)

bitbit (3)

Bitbat

Bit-Tot

Bit-Mini

bit-hundredth

bit

BB

bantam bit

BajtCent

Amir

bitpence

bitk, pronounced bit-kay. Simple, short, and 1000 bitk would be one bitcoin.

bitillion

I'd encourage people to look over all of these and continue the discussion about what is the most useful name.  Spelling isn't so relevant for now, its the phonetic sound I'm curious about, I've doubled up those suggestions that have the same sound.

I vote for "mil".

It's short and sweet.  It's technically correct.  It's ambiguous enough that Americans won't immediately think of it as having very little value.

I'm still advocating for bitmill for several reasons.
1. People can easily attribute BITmill to the bitcoin service.
2. It follows the pattern of BITcoins BITcent, blah blah blah.
3. A mill is a legit piece of currency within the Unites States.  Gas prices have a mill price at the end of the price.
4.  It flows together in a phonic manner.
 

I like millibit myself. 

As said before it lends itself to be used a millie, and could end up being a common transaction amount.

1 Bitcoin
.01 Bitcent
.001 Millibit

and so forth.

Skysurfer808

millibit

FPGA hashers are 'bit mills'. Cut the 'bit', just leave 'mils'.

Millbit? I think that's the most realistic

millibit.

Accurate, easy, and short. 

Also the nice thing is that since bit (general nonbitcoin word) is a discrete unit there is no such concept of sub bit.  Therefore without spelling out "coin" it becomes disambiguous that the speaker is talking about only bitcoin.

Recently I had a falling price auction where the price of a new BFL Single fell by 2 millibits per minute.

I guess I thought people were already referring to them as millibits.

0.001 BTC = "one milliBTC" or one Millie
0.000001 BTC = "one microBTC" or one Mike

0.001 = milibit = "milies" (pronounced mil-E-zzz) IMO

You can stop bumping this thread. The 5 BTC bounty ($30 total when this offer was made) was paid almost three years ago (the winner was "milliBit"): https://bitcointalk.org/index.php?topic=8282.msg136944#msg136944.

The reference client has had mBTC for this amount (along with µBTC) for two years.