What to call 0.001 BTC? (5 BTC Bounty)

[BitcoinsWallet]

"BitLit" is a good name too! 

[1714841139]

1714841139

[SomeoneWeird]

SmallBit or MilliBit?

[TiagoTiago]

How about just sticking with BTC (and whatever symbol we finally agree on eventually) and using scientific notation? 1E-3BTC for 0.001, 1E-8BTC for one Satoshi etc

[ribuck]

1E-3BTC for 0.001, 1E-8BTC for one Satoshi etc

You guys crack me up. It's pretty-much a law of disruptive technologies that they fail if they try to do too many things at once.

If you want the public to use a new money system, you can't also expect them to use an unfamiliar system of numbers. That would restrict the target users to the intersection of those who are interested in new money systems, and those who are interested in unfamiliar numbering systems.

The fact that the general public doesn't use scientific notation anywhere else, suggests that they won't want a money system that adopts it.

So, if you want BTC to succeed, scientific notation is out. Tonal notation is out. Greek suffixes are out. The SI (metric) prefixes (milli, micro etc) I think are OK. They are already familiar to most of the world's population, and even the 'Merkins will get the hang of them eventually.

[ribuck]

SmallBit...

and Microsoft too ... as the actress said to the Bishop!

[Cdecker]

millicoin
0.001 BTC = 1 mBTC

+1

• Teracoin (just kidding, there aren't so many)
• Megacoin
• Kilocoin
• Bitcoin
• millicoin
• microcoin
• nanocoin

Keep it systematic!
Although calling the smallest unit a Satoshi would be great too.

[MacFall]

How about just sticking with BTC (and whatever symbol we finally agree on eventually) and using scientific notation? 1E-3BTC for 0.001, 1E-8BTC for one Satoshi etc

What ribuck said following your post. Also: WAY too many syllables. We're discussion shorthand here. One E minus three B T C is NOT shorthand.

[Anonymous]

I would just call them credits.

[ShadowOfHarbringer]

I think that this discussion is not very relevant, because general public will decide which option is the best anyway because of Network Effects.

After one option is selected by the most of people, there will be no stopping it.

[MacFall]

I would just call them credits.

With a strong sense of irony, I hope, since they are designed to be the economic opposite of "credits".

[fergalish]

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.

[marcus_of_augustus]

How much for tit?

[BitcoinsWallet]

BITcoin
BITcent
...
BITlit

 

[melter]

bitlet

or nitcoin

[tardo]

Either bitcent, bitmill etc.. or millicoin, microcoin, nanocoin etc..

I think that using prefixes is more practical than suffixes, but suffixes are more traditional so both systems have advantages.

[TiagoTiago]

With money people aren't used to the fractional SI prefixes, just writing the letter in small caps might not be enough to avoid confusion...

[Wdave]

Bytecent 

[REF]

millibit
millicoin

[Lilium]

Since the value of Bitcoins most likely will raise drastically I'd recommend using the smallest unit in the currency as basis.

Like for example the Japanese Yen does.

Price Numbers seem to be rather high compared to other currencies, but as seen by example it works.


so 1E-8 BTC = 1 Bitcoin
or 0.0000001

The only problem would be to bridge the gap aslong as BitCoins aren't as valuable.
There you can throw in filler units:

Like 1 BitCoinCluster for the current 1 BTC setup instead of 10 million BitCoins
and another unit for the transition between the two:

demi- or di- (Bit)Coin - ( demi = half ) which deals with 1E-4 or 0.0001 of the BitCoinClusters or 1000 BitCoins
160 di(Bit)Coins would approximate to about 10 cents/0.10$ at the moment.


1 BitCoinCluster = 10000 diCoins/demiBitCoins
1 diCoin = 1000 BitCoins
1 BitCoin = 0.0000001 BitCoinCluster

10.000.000 BitCoins = 1 BitCoinCluster
500.000.000 BitCoins = 50 BitCoinClusters ( upon each successful solve )

The prefixes could be:

BitCoinCluster -> either remain 'BTC' ( so the market dimension doesn't necesserily need to change ( like when 1 BTC suddenly is only 1E-8 of the previous BTC )) or 'BCC' for better fit
BitCoins -> depending on the Clusters either 'BTC' or just 'BC'

'BC' would be a gimmick since it is usually used as "Before Christ" and BC(BitCoins) are before BTC(BitCoinClusters) so it would make 'BTC' the initial coin into "Christ" and rendering the creator of these namely "Satoshi Nakamoto" into "our Savior". 


also instead of solid prefixes something like:

C-Coin(Cluster-Coin)
D-Coin(Demi-Coin)
B-Coin(Bit-Coin)

could be used.

[kjj]

SI units will win in the end.