When quoting small amounts of bitcoin, how do you call 100 satoshis?

[Jimmy_Zed]

1 bit = 100 satoshi.

Is "bit" the official term?

No, but it does appear to have some of the big players behind it.

• A June 9, 2011 reference to 1µBTC being equal to 1 bit
  
• Reddit post that appears to have started it all (ridiculing the Metric system)
  
• Bitpay backs the 'bits' term (while explaining why the 100 Satoshi unit is important)
  
• Coinbase backs the 'bits' term (adding optional support)
  

Since Coinbase adoption, I have mostly stopped following it. Apparently many wallets support it as well.

It is also apparent that Americans find the Metric system confusing for some reason. Though in grade 2, it was taught with props: 10 cubes make a stick of 10, 10 sticks make a sheet of 100. 10 sheets of 100 make a cube of 1000. Actually that is not explaining the Metric system per se: that was explaining how Arabic numerals work. I think all the metric names for orders of magnitude were covered in grade 3.

Edit: removed duplicate 2011 discussion link.

Good point phillipsjk...looks like bits "won" As teukon mentioned, Gavin (senior bitcoin developer) also adopted "bits". Other services I have found that entirely use "bits" as the smaller unit:

http://gambit.com -- tons of fun games, play for bits.
http://breadwallet.com -- best iOS wallet, hands down.
https://wallofcoins.com -- get cash for your bitcoin fast.

Good closing for this post, especially with all of the Bitcoin peeps understanding what "bits" is

Are you blind? 100 satoshi won the poll ! Who cares about bits, and nits and tits, 100 satoshi is straightforward and no fancy mambo jumbo there. Simple and to the point.

[KingOfTrolls]

No, idea. I usually just called it whatever they called it.

If you are a user of a website, then the question is: "Which bitcoin units do you understand / want to use?"

If you are the owner of a website, then the question is: "What is the lowest common denominator that all of your users understand / want to use?"



This poll explicitly asked the second question, which I think is the more difficult, albeit more important one.

[101111]

In your OP you state you want them to know how much they are receiving in bitcoin, so just display the amount in bitcoin.

"We have sent you 5 cents worth of bitcoin: BTC0.00014435"

Presumably they will be newbies, so KISS.

[SomethingElse]

So Satoshi is a good name for the smallest unit.  But we do need a good name for 100 Satoshi.  It seems like momentum is going for "bit" and and I am okay. 

We then know that 1,000,000 bits equals one bitcoin. 

We need to figure this out because someday hopefully a Satoshi will be worth 0.01 USD.  A bit will equal $1.  And a million bits will be a bitcoin, "the whole coin". 

To me though these names of "bit" and "Satoshi" are a nerdy and weak. It would be much better if the community came up with better names.  Some kind of rebranding. 

That would also draw more interesting into Bitcoin as it would spark discussion.. 

[KingOfTrolls]

If you are a user of a website, then the question is: "Which bitcoin units do you understand / want to use?"

If you are the owner of a website, then the question is: "What is the lowest common denominator that all of your users understand / want to use?"



This poll explicitly asked the second question, which I think is the more difficult, albeit more important one.

I started another poll which explicitly asks the first question, or more precisely, its opposite:

https://bitcointalk.org/index.php?topic=835215.0

[fredthegambler]

I was taught to call those small btcs as Satoshis.. Other people are calling it millibit or bits. I dont know what's correct

[phillipsjk]

I was taught to call those small btcs as Satoshis.. Other people are calling it millibit or bits. I dont know what's correct

All of the amounts in the poll question are equivalent.

Perhaps you are one of the people actually confused by the "bits" term being pushed. There is only one reason the "bits" term is equivalent to 1µBTC: we need convenient a name for that much Bitcoin.

[KingOfTrolls]

In your OP you state you want them to know how much they are receiving in bitcoin, so just display the amount in bitcoin.

"We have sent you 5 cents worth of bitcoin: BTC0.00014435"

Presumably they will be newbies, so KISS.

You are quite right, I need to keep it simple and stupid.
But using whole BTC isn't an option because the payouts would appear too tiny.
"oh point oh oh oh" isn't something that people want to have.

So I had to find a bitcoin unit which is universally understood and small enough to avoid the decimal point, and I ended up using satoshi.

But we do need a good name for 100 Satoshi.

There is only one reason the "bits" term is equivalent to 1µBTC: we need convenient a name for that much Bitcoin.

I disagree. Or at least: I'm not included in we.

My faucet is running since two weeks and payouts are quoted in satoshis.
I have received zero complaints, questions, or issues regarding the use of "satoshi".

I have a short explainer on my site which essentially says "100 million satoshis = 1 bitcoin". And that seems to do the trick.

Thus I have zero incentive to add any additional units to the system. I don't want to needlessly clutter up my website.
Actually, I'm rather worried that additional units could confuse newbies, for example, like this.