Please stop with mBTC, microBTC, ...!

[halfawake]

I agree, the only two standards that make sense for bitcoin prices are bitcoin and satoshi.  Although I'll be pricing everything I sell in bitcoins in USD since bitcoin is so volitaile anyway, but that volatility may change eventually.

[1714881868]

1714881868

[1714881868]

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[STT]

Bits is already used elsewhere, I dont really agree with double usage here.   People can call it whatever like really, not saying otherwise but as a standard name it would conflict with computer sized bits.   Bits are most often used by the population to describe dsl speeds. Obviously bytes contains bits and so on.    

Sat and BTC works fine.   The main problem is the variation in value of BTC so we got these two extreme units of value and thats probably how it should be for now.    I hope value rises so I can get a drink for 100 sat or whatever, who knows and at that point we'll invent words ourselves as these transactions become common.
  Its been over a century since western economies regularly had deflation, falling prices.   We're unfamilar with the idea of the lowest value 'coinage' becoming greater but it could be the case for BTC and sat, we'll have to wait and see

[heartbit]

Hey - I know everyone here is smart enough to convert between bitcoins, satoshis, microbits, mBTC, uBTC in their heads without even needing a scientific calculator, however - for Joe Public to adopt this it's gonna have to feel "easier" and more like "real money"... it's more of a psychological and marketing question than anything to do with what is technically the "correct answer" according to us forum folk and bitcoin developers...

Assuming bitcoin does reach mainstream adoption, then common usage will win the day.

I think it will depend somewhat on where/how bitcoin ends up being used. If it is indeed used for small-value transactions like buying coffee, sandwiches and gas in future, then there will be a unit of measure which is somewhat equivalent to a "dollar" and probably another that is somewhat equivalent to "cents". This is just how the average person on the street is used to dealing with money - and I expect people will continue to want to denominate their purchases in this way.

Which of the following seems more likely for your Grandmother to say:
"I just bought a sandwich for zero point zero, zero, zero, zero, one, two, five bitcoin", OR
"I just bought a sandwich for 125 satoshis", OR
"I just bought a sandwich for a bit and a quarter"?

Having "bits" as the common unit, leaves a convenient two decimal places for the "satoshis" or "microbits" - so a relatively easy change to existing accounting, cash registers and POS systems to switch to a new currency without having to suddenly cope with 8 decimal places.

And much as we early adopters, white paper readers and forum lurkers may revere the name of Satoshi, I suspect "satoshi" will end up being replaced by "microbits" as the smallest unit of currency.

Again - not saying any of this is "right" - it's just how I foresee it evolving...

My 2 satoshis worth!
Posted from Bitcointa.lk - #X5e7oCGnyRK8anmo

[zimmah]

Just use BTC or satoshi (0.00000001) like in:

I just bought a car for 10 BTC!
The new Final Fantasy game will cost only 15000 satoshi!

Using mBTC, uBTC, μBTC is just unnecessary, sounds like a different coin and it will confuse a lot of people.

Coinedup and a few other sites are guilty of using mBTC.

1 satoshi is the smallest unit of BTC that's all people should have to learn. If you want massive user adoption you have to simplify things.

With satoshi being such a small unit I prefer bits being added as well. I agree that mBTC and Ubtc etc. are a little confusing.  

Bits are confusing and should be avoided at all costs, take your non-metric systems somewhere else Americans. I'm getting real tired of your made-up measurements.

I hate how everyone talks about bits as if it's a thing, without bringing up the countless topics against bits. Also there are many better names than bit.

[zimmah]

For the record I did not realize a bit was not the same as 1 Satoshi...

Because of this I think it would not be the best idea to use if there is a chance it will confuse people.  I however think we should just call 1 Satoshi 1 Bit because it would makes sense for a single unit to be a bit IMO.  

The language does need to be tweaked but I don't think it is something worth fighting over is all.

The word bit should be avoided altogether, as when someone hears it for the first time he would never know whether it means 1 satoshi, 100 satoshi, 1 bitcoin, 0.125 bitcoin or something else entirely.

It has been discussed to death many times, but a handful of people spreads bits like a meme and it tends to stick around for that reason only. Some people just don't know when to quit.

Hey - I know everyone here is smart enough to convert between bitcoins, satoshis, microbits, mBTC, uBTC in their heads without even needing a scientific calculator, however - for Joe Public to adopt this it's gonna have to feel "easier" and more like "real money"... it's more of a psychological and marketing question than anything to do with what is technically the "correct answer" according to us forum folk and bitcoin developers...

Assuming bitcoin does reach mainstream adoption, then common usage will win the day.

I think it will depend somewhat on where/how bitcoin ends up being used. If it is indeed used for small-value transactions like buying coffee, sandwiches and gas in future, then there will be a unit of measure which is somewhat equivalent to a "dollar" and probably another that is somewhat equivalent to "cents". This is just how the average person on the street is used to dealing with money - and I expect people will continue to want to denominate their purchases in this way.

Which of the following seems more likely for your Grandmother to say:
"I just bought a sandwich for zero point zero, zero, zero, zero, one, two, five bitcoin", OR
"I just bought a sandwich for 125 satoshis", OR
"I just bought a sandwich for a bit and a quarter"?

Having "bits" as the common unit, leaves a convenient two decimal places for the "satoshis" or "microbits" - so a relatively easy change to existing accounting, cash registers and POS systems to switch to a new currency without having to suddenly cope with 8 decimal places.

And much as we early adopters, white paper readers and forum lurkers may revere the name of Satoshi, I suspect "satoshi" will end up being replaced by "microbits" as the smallest unit of currency.

Again - not saying any of this is "right" - it's just how I foresee it evolving...

My 2 satoshis worth!
Posted from Bitcointa.lk - #X5e7oCGnyRK8anmo

What do we call 1/100th dollar?

A cent, from centi (meaning 1/100th)

Apply the same logic to 1/1000 and 1/1000000 and we have mills and mics

Problem solved. (FYI mills were also used in the past were 1/10 cent were still in common use, but obviously a cent is so worthless that 1/10 cent doesn't even make sense anymore).

[Swordsoffreedom]

I'm sure that they already will all become mainstream names for the same thing
Bits Mbtc Ubtc Finney's and all.
That said SI standard still seems the most logical to me

[iglasses]

It's just there to confuse us brash Americans...we hate anything that even looks like the metric system!

[Skele]

I imagine those units are being used right now due the current low prices of Bitcoin.

Maybe with the time, and the rising of Bitcoin, only BTC and Satoshi will be used mainly and another Altcoin like LTC and DOGES will be secondary... as actually dollars, Eur rules and then remaining all badges...

[Dallas5]

Just use BTC or satoshi (0.00000001) like in:

I just bought a car for 10 BTC!
The new Final Fantasy game will cost only 15000 satoshi!

Using mBTC, uBTC, μBTC is just unnecessary, sounds like a different coin and it will confuse a lot of people.

Coinedup and a few other sites are guilty of using mBTC.

1 satoshi is the smallest unit of BTC that's all people should have to learn. If you want massive user adoption you have to simplify things.

If you think microBitcoin sounds like a new coin I have doubts you finished high school

You do understand the concept of a centimeter right? You understand that it's the same as 0.01 M and not another unit of measurement? Come on, it's not rocket science.

I see you have 0 understanding of marketing, maybe you believe only smart people should use bitcoin.

You might check other replies and notice that most agree bitcoin and satoshi are enough and more terms will just confuse people.

[FizWeb]

Bitcoin is difficult to understand for people.
Satoshi is an unrelated term that a newbie can't understand the first time he reads it.

[medUSA]

I actually prefer to use only "bitcoin" and "satoshi". It is official and no ambiguity. I am not against nicknames in conversations, that is very common in all currencies, but on exchanges and websites, official units please.

Currently, I just remember one rule, not too difficult once you get used to it:
0.0001 btc (transaction fee) = 10,000 satoshi

[jambola2]

This is the 99th thread trying to stop this.

You cannot change what the public uses based upon your own opinion.
If "bits" is a better system , the public will start to use it.

Currently , mBTC (milli-bitcoin) is the most usable , as it is around a dollar and makes sense for general speak.
Satoshis are used often too , not because it is "official" , but because it makes even diminutive amounts seem huge , hence satoshis are the best unit for faucets and sites giving out rewards.

uBTC and bits are not too popular currently , but may become more popular once they reach parity with the current USD. ( ie : When 1 uBTC has the same buying power as 1 $ has today )

[BurtW]

I actually prefer to use only "bitcoin" and "satoshi". It is official

I was around then the idea of using "satoshi" to mean 0.00000001 BTC was just catching on.  Nothing official about it.  The community just started using it and liked it.  It is not any more "official" than "bits" it was a community accepted creation.

If "bits" catches on then it will catch on.

[SirChiko]

Gotta agree with this or just wrote the whole sum. I have problems with remembering rate or mBTC myself.

[lyth0s]

Gotta agree with this or just wrote the whole sum. I have problems with remembering rate or mBTC myself.

But you can remember that one satoshi is 0.0000064 dollars? wtf. Right now with the current value of a bitcoin being around $640, 1 mBTC is 0.64 aka 64 cents, which is pretty reasonable to remember.

When the purchasing power of a single bitcoin goes through the roof then we can start moving to smaller increments. For now, mBTC works just as well as talking in terms of a full coin.

[Ron~Popeil]

Just use BTC or satoshi (0.00000001) like in:

I just bought a car for 10 BTC!
The new Final Fantasy game will cost only 15000 satoshi!

Using mBTC, uBTC, μBTC is just unnecessary, sounds like a different coin and it will confuse a lot of people.

Coinedup and a few other sites are guilty of using mBTC.

1 satoshi is the smallest unit of BTC that's all people should have to learn. If you want massive user adoption you have to simplify things.

With satoshi being such a small unit I prefer bits being added as well. I agree that mBTC and Ubtc etc. are a little confusing.  

Bits are confusing and should be avoided at all costs, take your non-metric systems somewhere else Americans. I'm getting real tired of your made-up measurements.

I hate how everyone talks about bits as if it's a thing, without bringing up the countless topics against bits. Also there are many better names than bit.

Umm actually our "made up" measurements were "made up" by Europeans originally. Enjoy your "made up" technological advancements like cars, phones, computers etc. 

[zimmah]

Just use BTC or satoshi (0.00000001) like in:

I just bought a car for 10 BTC!
The new Final Fantasy game will cost only 15000 satoshi!

Using mBTC, uBTC, μBTC is just unnecessary, sounds like a different coin and it will confuse a lot of people.

Coinedup and a few other sites are guilty of using mBTC.

1 satoshi is the smallest unit of BTC that's all people should have to learn. If you want massive user adoption you have to simplify things.

If you think microBitcoin sounds like a new coin I have doubts you finished high school

You do understand the concept of a centimeter right? You understand that it's the same as 0.01 M and not another unit of measurement? Come on, it's not rocket science.

I see you have 0 understanding of marketing, maybe you believe only smart people should use bitcoin.

You might check other replies and notice that most agree bitcoin and satoshi are enough and more terms will just confuse people.

because you have to be smart to understand the metric system,

logic not found...

[Harley997]

Gotta agree with this or just wrote the whole sum. I have problems with remembering rate or mBTC myself.

But you can remember that one satoshi is 0.0000064 dollars? wtf. Right now with the current value of a bitcoin being around $640, 1 mBTC is 0.64 aka 64 cents, which is pretty reasonable to remember.

When the purchasing power of a single bitcoin goes through the roof then we can start moving to smaller increments. For now, mBTC works just as well as talking in terms of a full coin.

The issue is that there are so many unit's of measure for bitcoin that people could easily get confused. IMO it is best to stick with BTC

[Ayers]

or just use big number

explain them that there are 100 millions satoshi for 1 btc therefore 0.01 is 1M satoshi 0.001(mbtc) is 100k satoshy and so on

[zimmah]

or just use big number

explain them that there are 100 millions satoshi for 1 btc therefore 0.01 is 1M satoshi 0.001(mbtc) is 100k satoshy and so on

how is that different from using the metric system?

in fact, you are using the metric system backwards (you go from satoshi instead of from bitcoin).

Either way works for me, but it think it's even better to use bitcoin.