Topic: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE - page 18. (Read 57144 times)

That would be kilobitcoin which people would then likely shorten to kilobit, which could be rather confusing. For some reason though, people tend not to use prefixes for large amounts of currency so most people would simply say 1,000 bitcoins rather than kilobitcoin and 1,000,000 bitcoins rather than Megabitcoin.

Let's look at the other side of this argument. Suppose everyone was talking kilometers. "Wow, I'm home from work, tired, and I have to walk 0.000032 Kilometers to the fridge to get a beer!"
That's what's happening now with bitcoin.
Instead we have the concept of "meters", and go up and down from there.

The term "bit" is an excellent equivalent for "meters". A bitcoin would be the full measurement of bits. A satoshi would be 100 bits. But in day-to-day talk, we would talk about bits. "This cold beer cost me 25 bits!"

So no. It's not US ignorance.

I agree. I am ignorant. So what is the equivalent of kilometers, (or kilometers if you wish)? Kilabitcoins?

Try it.
A "bit" has already too many meanings.
In the language itself but also in technical-everyday-stuff that Average Joe is already confronted to deal with.
It is another "obstacle" that leads to more questions in an "first time Bitcoin conversation"
and i hope you agree, that the last thing we need in promoting/education on Bitcoin, are more "obstacles".

I completely disagree. There's nothing more simple than to explain to someone tech-illiterate that a "bit" is a small part of a "bitcoin".

Nonsense. The term "bitcoin" is already directly equivalent to the term "metre". Your example just shows that this is US ignorance. Nobody in their right mind would say 0.000032 km, they would say 32 millimetres. How the hell do you walk 32 mm to get to your fridge?

true, but you cannot divide a satoshi. common is to have a unit and 2 decimal digits. base unit will be 100 sats where a name should found for it.

1 'base unit' = 100 sats

a cup of coffee: 10,000 'base units' (10,000 x $.00045)

at the moment the 2 decimal digits are irrelevant.

"Hi, I want to buy a cup of coffee, please." - "Sure, this will cost you 10,000 bits." - "Fine, I'll take it."

Let's look at the other side of this argument. Suppose everyone was talking kilometers. "Wow, I'm home from work, tired, and I have to walk 0.000032 Kilometers to the fridge to get a beer!"
That's what's happening now with bitcoin.
Instead we have the concept of "meters", and go up and down from there.

The term "bit" is an excellent equivalent for "meters". A bitcoin would be the full measurement of bits. A satoshi would be 100 bits. But in day-to-day talk, we would talk about bits. "This cold beer cost me 25 bits!"

So no. It's not US ignorance.

Millibits (mBTC) and microbits (uBTC) are already used. If you want to use whole numbers, just use Satoshis and stop trying to force this US ignorance of the metric system on the rest of the world.

Renaming "microbit" to "bit" is pure insanity.

If we're going to do bits we might as well go all the way down to satoshis.  I've found it easiest to just think in them.

Fun poll, thanks!

Crosspost from Coindesk:

I totally disagree to change it to "bits"!
Most people I know, that aren't so involved with "that Internet and computerstuff" AKA the masses and majority of older businessowners that don't deal with IT.
They are glad, they can finally use a Smartphone, send an E-Mail, they know their SDcard or HDD "has a lot of Gigabyte" if you ask them for the Processor...
There are too many "bits & bytes" already in the daily life and the only thing happening with this change is: even more confusion!
If we don't avoid this, we are making Bitcoins even more complicated to understand for everyone else.

Most of them just recently learned, that a digital photo consumes 3 Megabyte of Diskspace
and are still highly confused about the difference to their ISP's provider (Megabits) Bandwidth and all that stuff.
If you link Bitcoin to "bits", the first thing to happen is like "oh, so i could store millions /160gigabits on my Flashmemory?"
or "Oh, but i have slow 1mbit Internetconnection ; only low datavolume to spend per month...can i transfer so much of them with it? doesn't sound fast/safe/cheap."

There has to be a simpler way: Euro/Dollar + Cents / Bitcoin + MSat (Megasatoshis) !?
I don't know...there are already enough suggestions and options to do so.
But for the sake of sooner mass adoption, please - do not use "bits" as a Bitcoin unit. Name it more unique.

my 2 satoshis