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

[harrymmmm]

One microbit.

One micro for short.

[franky1]

anyone thinking that people cant understand more than 2 names for currency.

well:

a cent, penny,
5cents, nickel, jefferson, half-dime
10cents, dime, Roosevelt

blah blah blah

dollar, buck, greenbacks,  washington note, 1-note, a single, a bone
5 dollars, 5-note, 5-spot, 5-bucks, lincoln
10 dollars, 10-note, 10-spot, 10-bucks, hamilton,

blah blah blah

you getting the picture?

in most cases names are not given for micro amounts, gold fiat, commodity's in a top down perspective. they given names in a bottom up.

thus i think the accountants and nerds can stick with their "micro"/"ubit" rationale. whilst average joe public can cope with the "bit"/"finney" nicknames.

[sandykho47]

Of course 100 satoshis

I think satoshis / bits is good for less than 0.0001 BTC
And i think mBTC is good for 0.0001 BTC (0.1 mBTC) - 0.099 BTC ( 99 mBTC)

But, most people on this forum only use BTC, mBTC & satoshi 

[KingOfTrolls]

I agree that we only need 2 units of measure, ...

We only need 1 unit of measure.

So now you want to get rid of bitcoin as well. ...

You introduced the idea of going to small units entirely, and I merely adopted that notion for the shake of argument, to show you how we don't need a special word for 100 satoshis.

...What do you think would happen if you asked the general public to drop the dollars and only use cents?

This comparision is invalid. You just can't equate satoshis and cents. Here's the reason:

• A cent (as in percent) implies being a fraction of something. Therefore, a cent is not a thing itself, but merely a fraction of an other thing. For example, a dollar cent is a fraction of a dollar, a euro cent is a fraction of a euro, and so on.
• A satoshi is a thing of its own. Satoshi is a proper noun. The word "satoshi", by itself, contains no reference to being a fraction of a bitcoin.

The term "satoshi" is on the same linguistic level as the terms "dollar" and "euro". One could even think of introducing a "satoshi cent", which would obviously be one 100th of a satoshi. (Currently, the blockchain doesn't allow transacting individual satoshi cents, yet the protocol could be extended to do so.)

We need 2 units, only the bitcoin will not be one of them. ...

So now you want to get rid of bitcoin as well??

...A "bitcoin" will be so huge that only the wealthy will own them. It will be somewhat of a status symbol, kind of like being a "millionarie" in todays world. It will be more of a term to describe the protocol.


For the general public we need 2 units:

Bits/Mikes/Fins whichever we agree upon. This will be .000001 unit.
and Satoshis. 100 of which will fit into the above unit.

This is a sensible way to rollout bitcoin to the general public. As soon as you tell them that a bottle of coke costs 45 bits plus a handful of satoshis for tax, the 2 unit setup rings a bell as something familiar.

My aim is not to make it sound as something familiar, but to find the least confusing way of quoting a price.

And yes: More units means more confusion. 4 567 satoshis is easier to understand than "45 bits and 67 satoshis".

anyone thinking that people cant understand more than 2 names for currency.

well:

a cent, penny,
5cents, nickel, jefferson, half-dime
10cents, dime, Roosevelt

blah blah blah

dollar, buck, greenbacks,  washington note, 1-note, a single, a bone
5 dollars, 5-note, 5-spot, 5-bucks, lincoln
10 dollars, 10-note, 10-spot, 10-bucks, hamilton,

blah blah blah

you getting the picture?

in most cases names are not given for micro amounts, gold fiat, commodity's in a top down perspective. they given names in a bottom up.

thus i think the accountants and nerds can stick with their "micro"/"ubit" rationale. whilst average joe public can cope with the "bit"/"finney" nicknames.

Imagine you are a Japanese tourist on your first day in the USA. At home you were told that the US currency is dollars and cents.

Now people are suddenly talking about nickels, dimes, jeffersons, greenbacks and whatnot...
Wouldn't that be confusing to you?

My website is intended for people who are new to bitcoin. It's for people who just have their first day in bitcoinland.
Thus I want to use as few units as possible. I'm afraid that any additional units might be confusing to my site's users.

(Of course, geeks and insiders might still talk about micros, bits, finneys, ubits, and whatever.)

[Jimmy_Zed]

Just leave it , satoshi is good enough, do not make it more complicated ,because it already is for many people.

[franky1]

Imagine you are a Japanese tourist on your first day in the USA. At home you were told that the US currency is dollars and cents.

Now people are suddenly talking about nickels, dimes, jeffersons, greenbacks and whatnot...
Wouldn't that be confusing to you?

My website is intended for people who are new to bitcoin. It's for people who just have their first day in bitcoinland.
Thus I want to use as few units as possible. I'm afraid that any additional units might be confusing to my site's users.

(Of course, geeks and insiders might still talk about micros, bits, finneys, ubits, and whatever.)

im saying that average joe will have DOZENS of names slang names.  and then the big whale scientific community will have their mili and micro names.

all im saying is that having just 1 or 2 names shouldn't be a declared rule where no common/slang names cant be used, as it is not helping anyone. but i think finding all possible universal and easy to understand, say, write names. and then whilst average joe uses their preferences depending on their smaller local communities and dialects. that we then find 2-4 universal language names.

at the moment. if a poll was done to say how much is "1bit" we all know from the other polls already done and the dozens of similar topics that well over 500 out of 700 will remember/recognize bit referred to 100sat.

at the moment. if a poll was done to say how much is "1finney" we all know from the other polls already done and the dozens of similar topics that well over 30 out of 700 will remember/recognise bit referred to 100sat.

so right now more people recognise 'bit' as a universal term. that does not mean that with the right PR a good few MEME's being posted in the right places and certain people talking about 'finney' in a certain context that 'finney' might take over.

at the moment 100sat is still common place followed by bit. but until people actually have huge need to spend things in actual 100 sat amounts and a symbol/icon as been adopted for it, safe bet is to stick with 100sat for now... unless you personally want to lead the path of an adoption of a proper name.

its still to early to shout that there can be only 1. and it will be declared 100sat. so be open to evolution when it happens

[BIGbangTheory]

anyone thinking that people cant understand more than 2 names for currency.

well:

a cent, penny,
5cents, nickel, jefferson, half-dime
10cents, dime, Roosevelt

blah blah blah

dollar, buck, greenbacks,  washington note, 1-note, a single, a bone
5 dollars, 5-note, 5-spot, 5-bucks, lincoln
10 dollars, 10-note, 10-spot, 10-bucks, hamilton,

blah blah blah

you getting the picture?

in most cases names are not given for micro amounts, gold fiat, commodity's in a top down perspective. they given names in a bottom up.

thus i think the accountants and nerds can stick with their "micro"/"ubit" rationale. whilst average joe public can cope with the "bit"/"finney" nicknames.

Most of your various names for various kinds of dollar bills have the number of dollars that the bill is worth (the names are also very rarely used). The other names simply have the name of the person who appears on the currency so anyone who has previously used it would know what you are referring to.

[Waramp22]

So now you want to get rid of bitcoin as well. ...

You introduced the idea of going to small units entirely, and I merely adopted that notion for the shake of argument, to show you how we don't need a special word for 100 satoshis.

Fair enough.

...What do you think would happen if you asked the general public to drop the dollars and only use cents?

This comparision is invalid. You just can't equate satoshis and cents. Here's the reason:

    A cent (as in percent) implies being a fraction of something. Therefore, a cent is not a thing itself, but merely a fraction of an other thing. For example, a dollar cent is a fraction of a dollar, a euro cent is a fraction of a euro, and so on.
    A satoshi is a thing of its own. Satoshi is a proper noun. The word "satoshi", by itself, contains no reference to being a fraction of a bitcoin.



The term "satoshi" is on the same linguistic level as the terms "dollar" and "euro". One could even think of introducing a "satoshi cent", which would obviously be one 100th of a satoshi. (Currently, the blockchain doesn't allow transacting individual satoshi cents, yet the protocol could be extended to do so.)

The comparison is fine as this is still the wild west for bitcoin and we can do whatever we want. As for the dollars to cents idea, the general public would likely laugh at it because it is ass backwards from what they are used to.
If a cent is not a real thing and was merely a fraction of something larger, why would the US government mint a coin after it? They should have cut up 1 dollar bills. As for the Satoshi, it is a fraction is something because 8 places in front of it there is a decimal.

We need 2 units, only the bitcoin will not be one of them. ...

So now you want to get rid of bitcoin as well??

Yes but right now the value of bitcoin isn't high enough to change. In the future when the value it growing there will be a need for a new unit, and it will not be the Satoshi as it is too small.

...As soon as you tell them that a bottle of coke costs 45 bits plus a handful of satoshis for tax, the 2 unit setup rings a bell as something familiar.

My aim is not to make it sound as something familiar, but to find the least confusing way of quoting a price.

And yes: More units means more confusion. 4 567 satoshis is easier to understand than "45 bits and 67 satoshis".

Less confusing to newbies and more awkward for the general public to use in the future.

[fabiola!]

One microbit.

Yes, this one makes more sense.

I like that one too.

[Jimmy_Zed]

anyone thinking that people cant understand more than 2 names for currency.

well:

a cent, penny,
5cents, nickel, jefferson, half-dime
10cents, dime, Roosevelt

blah blah blah

dollar, buck, greenbacks,  washington note, 1-note, a single, a bone
5 dollars, 5-note, 5-spot, 5-bucks, lincoln
10 dollars, 10-note, 10-spot, 10-bucks, hamilton,

blah blah blah

you getting the picture?

in most cases names are not given for micro amounts, gold fiat, commodity's in a top down perspective. they given names in a bottom up.

thus i think the accountants and nerds can stick with their "micro"/"ubit" rationale. whilst average joe public can cope with the "bit"/"finney" nicknames.

Most of your various names for various kinds of dollar bills have the number of dollars that the bill is worth (the names are also very rarely used). The other names simply have the name of the person who appears on the currency so anyone who has previously used it would know what you are referring to.

Exactly. And that is why it is so easy to use it in everyday language. Than again this is not universal - I have seen bill nicknames mostly used in the US. This is what makes the previous poster's logic flawed. We need something plain and simple, not micro bits or ultra micro bits and whatever. Keep it plain and simple.

[MasterCasino]

One microbit.

Yes, this one makes more sense.

I like that one too.

microbit is kinda cool to hear. 

[R2D221]

We need something plain and simple, not micro bits or ultra micro bits and whatever. Keep it plain and simple.

“Milli” and “micro” are SI units. Where did that “ultra” came from, did you make it up?

If “milli” and “micro” are not simple enough, then I don't know what can be.

[101111]

Bits

[Jimmy_Zed]

i think the well known term is 1 bit for 100 satoshi

It is a well known term among a small circle of hardcore crypto users, probably a few hundred people or less. You need a reality check.

Jimmy Zed

[KingOfTrolls]

The comparison is fine as this is still the wild west for bitcoin and we can do whatever we want. As for the dollars to cents idea, the general public would likely laugh at it because it is ass backwards from what they are used to.
If a cent is not a real thing and was merely a fraction of something larger, why would the US government mint a coin after it? They should have cut up 1 dollar bills. ...

I was talking about linguistics, not minting. You may re-read my post.

...As for the Satoshi, it is a fraction is something because 8 places in front of it there is a decimal.

Nope, it isn't.

• On my website I'll be quoting prices in satoshis. That means there'll be integers and no decimal point.
• The word "satoshi" (unlike "cent") doesn't contain any reference to being a fraction of something. Users won't be reminded that there's a larger unit.

In the future when the value it growing there will be a need for a new unit, ...

Correct.

...and it will not be the Satoshi as it is too small.

I want to have your crystal ball!!
How can you be so sure about what the bitcoin price is doing in ten years??

My aim is not to make it sound as something familiar, but to find the least confusing way of quoting a price.

And yes: More units means more confusion. 4 567 satoshis is easier to understand than "45 bits and 67 satoshis".

Less confusing to newbies and more awkward for the general public to use in the future.

The future's general public will be old enough to care about themselves, no worries.
If future's general public will frequently have to deal with thousands of satoshis, then they'll find a word for it themselves (similiar to the grand in the dollar world).

What we should care about is today. Every day newbies come into bitcoin and have a hard time understanding it.

There's no need to make it additionally complicated when it comes to currency units.
Why should we confront them with a special name for 100 satoshis, if it isn't needed for understanding?


At this point, please try to imagine you were me and make a little fact check:

• FACT: I have to go to smaller denominations of bitcoin because that "point oh oh oh" crap would literally kill my business.
• FACT: There is a broad consensus that a hundred millionth of a bitcoin shall be called "satoshi". That means that my customers will figure it out quickly.
• FACT: There is no consensus about what a millionth of a bitcoin shall be called. That means that my customers might find contrary opinions and lots of discussion. Not good for business.

→ Logical conclusion: Use satoshis. Simple as that.
...and I'm not the only one whom above reasoning applies to.

We need something plain and simple, not micro bits or ultra micro bits and whatever. Keep it plain and simple.

“Milli” and “micro” are SI units. Where did that “ultra” came from, did you make it up?

If “milli” and “micro” are not simple enough, then I don't know what can be.

The words "milli" and "micro" are not the problem itself. The problem is that this would introduce an additional, third unit to the two units we already have (satoshi & bitcoin).

Ofcourse these additional units can very well be used. But the question is whether they should be presented to users who just start out with bitcoin.

Bits

This isn't reddit. Pointless posts aren't getting upvoted here.

Maybe you want to contribute something to the discussion instead?

[101111]

This isn't reddit. Pointless posts aren't getting upvoted here.

Maybe you want to contribute something to the discussion instead?

You don't see the point so you attack? How about doing a bit of thinking first next time?

oh, and

[Jimmy_Zed]

I'd like to coin Centoshi for 100 Satoshi. 

Centoshi ! That's it - catchy and sophisticated at the same time ! You have nailed it man !!! This is it !

Jimmy Zed

[fabiola!]

Imagine you are a Japanese tourist on your first day in the USA. At home you were told that the US currency is dollars and cents.

Now people are suddenly talking about nickels, dimes, jeffersons, greenbacks and whatnot...
Wouldn't that be confusing to you?

My website is intended for people who are new to bitcoin. It's for people who just have their first day in bitcoinland.
Thus I want to use as few units as possible. I'm afraid that any additional units might be confusing to my site's users.

(Of course, geeks and insiders might still talk about micros, bits, finneys, ubits, and whatever.)

im saying that average joe will have DOZENS of names slang names.  and then the big whale scientific community will have their mili and micro names.

all im saying is that having just 1 or 2 names shouldn't be a declared rule where no common/slang names cant be used, as it is not helping anyone. but i think finding all possible universal and easy to understand, say, write names. and then whilst average joe uses their preferences depending on their smaller local communities and dialects. that we then find 2-4 universal language names.

at the moment. if a poll was done to say how much is "1bit" we all know from the other polls already done and the dozens of similar topics that well over 500 out of 700 will remember/recognize bit referred to 100sat.

at the moment. if a poll was done to say how much is "1finney" we all know from the other polls already done and the dozens of similar topics that well over 30 out of 700 will remember/recognise bit referred to 100sat.

so right now more people recognise 'bit' as a universal term. that does not mean that with the right PR a good few MEME's being posted in the right places and certain people talking about 'finney' in a certain context that 'finney' might take over.

at the moment 100sat is still common place followed by bit. but until people actually have huge need to spend things in actual 100 sat amounts and a symbol/icon as been adopted for it, safe bet is to stick with 100sat for now... unless you personally want to lead the path of an adoption of a proper name.

its still to early to shout that there can be only 1. and it will be declared 100sat. so be open to evolution when it happens

Franky is right, I cannot remember the last time someone called a ten pound note "ten pounds". It's always 10 quid, or tenner, or Pavarotti (cause he's a tenor, tenner...get it?).  And...Plenty of Japanese tourist over here, not a problem.

[BJay87]

I'd like to coin Centoshi for 100 Satoshi. 

Centoshi ! That's it - catchy and sophisticated at the same time ! You have nailed it man !!! This is it !

Jimmy Zed

Centoshi sounds like a joke. Bitcent is a good term.

[franky1]

common names that sound like slang/ normal words. work. trying to be scientific by going the milli/micro route causes confusion as that involves alot of decimals.

a bottom up approach is better with common names from 1sat - 100 sat - 10,000 sat going up to bitcoin is simple.

and i have seen a few people shout out centoshi.. umm thats a 100th of 1 satoshi(0.01sat), not 100 sat. so just to keep the scientific/math community happy, a HECToshi is 100sats, although it still sounds ugly(sound you make coughing up mucus)