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

[bitcoinpiece]

Anyhoo, I will sum up the future of Bitcoin. For any of you early adopters out there, consider this your cheat sheet to know where the future of Bitcoin develops:

* "Bitcoin" is still the technology.

* 1 bit will be the "base unit".

* the smallest unit will be "1 bit cent", also known as "1 satoshi" to honor Satoshi Nakamoto. (sort of like 0.01 USD is referred to as a "1 cent", and also its proper name "1 penny", respectively)

* Some people will understand that "1 bitcoin = very rich". The term "Bitcoinaire" may even come up.

* XBT is the abbreviation -- it fits beautifully with "Bitcoin" and "bits", even though that wouldn't be intellectually 100% correct.

* Exchanges, traders, accountants, etc. will understand the price of Bitcoin as "$400 / XBT"

* Laymen will look at the price of Bitcoin as "2500 bits / dollar" (US Dollar) ... bookkeepers and accountants will be familiar with this as well, if necessary.

In response to KingOfTrolls:
I completely agree with you. Unfortunately, it's hard for your average user, and your average adopter, to understand what a "SAT" is, especially in the world of Bitcoin. If you go ahead and tell them, "oh, it's short for Satoshi! The guy who worked a lot on Bitcoin in the beginning had the first name Satoshi. He's anonymous and stuff. But don't ask about that".

...well, that's just adding more confusion. (Even if you make the explanation shorter). I'm not saying this because it is what I believe, I am saying it because it is the reactions and feelings of the layman (and even very technically-minded people).

Will newbies and average users understand? Yes.

Will they remember that "1 sat" is the base unit for Bitcoin? As most people forgot things very quickly, my *intentional* interactions with the layman show that they just don't remember "Satoshi" or "Sat". They entirely remember "bits". Things I have heard include:

"Oh ya... a 'bit', right?"

"Um, it was 1 'yoshi' right?" (to which I reply: "no, 1 SA-toshi")

It is too confusing. How can a 50 year old man process this in their mind.

[101111]

On my website ...

After nearly one year of discussion, the opposition against "bits" is as strong as ever, so I cannot see how it could become universally accepted in any foreseeable future.

You have taken your position and are using sats on your website, great, good luck with that. You just don't seem to see how biased you are to that position you have made, biased, and deaf to any argument.

Just look at your statement "the opposition against "bits" is as strong as ever". Do you mean your own personal opposition? because it clearly isn't true for the community in general as there is a very clear and strong shift to bits.

You have also greatly over complicated things, (something the SI folks do so well). You bog yourself down and wonder how on earth you are going to explain that 1 bit = 100 satoshis. It's not rocket science. People get it.

Anyway no hard feelings, each to his own. Enjoy using sats, you're free to choose what you want, no need for all the BS to justify yourself.

[fabiola!]

Anyhoo, I will sum up the future of Bitcoin. For any of you early adopters out there, consider this your cheat sheet to know where the future of Bitcoin develops:

* "Bitcoin" is still the technology.

* 1 bit will be the "base unit".

* the smallest unit will be "1 bit cent", also known as "1 satoshi" to honor Satoshi Nakamoto. (sort of like 0.01 USD is referred to as a "1 cent", and also its proper name "1 penny", respectively)

* Some people will understand that "1 bitcoin = very rich". The term "Bitcoinaire" may even come up.

* XBT is the abbreviation -- it fits beautifully with "Bitcoin" and "bits", even though that wouldn't be intellectually 100% correct.

* Exchanges, traders, accountants, etc. will understand the price of Bitcoin as "$400 / XBT"

* Laymen will look at the price of Bitcoin as "2500 bits / dollar" (US Dollar) ... bookkeepers and accountants will be familiar with this as well, if necessary.

In response to KingOfTrolls:
I completely agree with you. Unfortunately, it's hard for your average user, and your average adopter, to understand what a "SAT" is, especially in the world of Bitcoin. If you go ahead and tell them, "oh, it's short for Satoshi! The guy who worked a lot on Bitcoin in the beginning had the first name Satoshi. He's anonymous and stuff. But don't ask about that".

...well, that's just adding more confusion. (Even if you make the explanation shorter). I'm not saying this because it is what I believe, I am saying it because it is the reactions and feelings of the layman (and even very technically-minded people).

Will newbies and average users understand? Yes.

Will they remember that "1 sat" is the base unit for Bitcoin? As most people forgot things very quickly, my *intentional* interactions with the layman show that they just don't remember "Satoshi" or "Sat". They entirely remember "bits". Things I have heard include:

"Oh ya... a 'bit', right?"

"Um, it was 1 'yoshi' right?" (to which I reply: "no, 1 SA-toshi")

It is too confusing. How can a 50 year old man process this in their mind.

Hey hey that's a very good point actually, we have to keep it simple!

[UberWallet]

100 satoshi will sound the most known, i recommend doing that 

[sakira]

yes i also agree with 100 satoshi, memorable, and easy on the mention

sometimes the layman, they are always one mention as examples 10k satoshi and 10k  bitcoin. when what they mean is 10k satoshi
and I often heard them

[teukon]

Just look at your statement "the opposition against "bits" is as strong as ever". Do you mean your own personal opposition? because it clearly isn't true for the community in general as there is a very clear and strong shift to bits.

He said on page 8 of a thread entitled "When quoting small amounts of bitcoin, how do you call 100 satoshis?"

[jbreher]

I think the SI base-unit for mass is the kg, further adding to the confusion.

Just no. The base unit for mass in the SI system is the gram. Defined as the mass of 1 ml of water at STP.

[LMGTFY]

I think the SI base-unit for mass is the kg, further adding to the confusion.

Just no. The base unit for mass in the SI system is the gram. Defined as the mass of 1 ml of water at STP.

No, the SI base unit for mass is the kilogram, and it's the only base unit not defined by a fundamental physical property - though that may change very soon.

[Oscilson]

1 bit = 100 satoshi.

[pequelore]

1 bit = 100 satoshi.

Is "bit" the official term?

[jbreher]

I think the SI base-unit for mass is the kg, further adding to the confusion.

Just no. The base unit for mass in the SI system is the gram. Defined as the mass of 1 ml of water at STP.

No, the SI base unit for mass is the kilogram, and it's the only base unit not defined by a fundamental physical property - though that may change very soon.

Mea culpa. my (mis)education has led me astray.

[phillipsjk]

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.

[teukon]

• A June 9, 2011 reference to 1µBTC being equal to 1 bit
  

Ha, I never knew this.  Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

[phillipsjk]

• A June 9, 2011 reference to 1µBTC being equal to 1 bit
  

Ha, I never knew this.  Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

No, too lazy

I think http://zibcoin.org/ just converted me to "zib".

[teukon]

• A June 9, 2011 reference to 1µBTC being equal to 1 bit
  

Ha, I never knew this.  Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

No, too lazy

I think http://zibcoin.org/ just converted me to "zib".

Lol, yeah, I remember commenting on that back in March.

Good luck zibcoin!

[MultipliedCombo]

I'd probably say 100 satoshis, and 0.000001 BTC in brackets or so.

[farjia]

I call it as it is 100 satoshi or the more common term now a days is "dust"

[rgenito]

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

[TheLoser]

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

[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.