1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE - page 25.

Zalfrin

sr. member

Activity: 401

Merit: 250

Where is the "none of the above" option? uBTC is not hard. Just use a u instead of a micro symbol if you're lazy...

marcus_of_augustus

legendary

Activity: 3920

Merit: 2349

Eadem mutata resurgo

So

100 satoshis = 1 bit

and

1 million bits = 1 coin?

am i right?

LMGTFY

hero member

Activity: 644

Merit: 503

Quote from: gojomo on May 02, 2014, 04:22:36 PM

100 satoshis (no more than 2 digits after the decimal point) is the right unit size... but all variants of 'microbitcoin' are awkward names: "microbitcoin", "µBTC", "microbits", "crobits", "eubits", "mubits", "mics".

Unfortunately "bit" is also a problematic name. Some reasons are listed here:

http://zibcoin.org/faq#why-not-bits-to-mean-microbitcoins

The best bet would be to make-up another distinctive one-syllable word that doesn't have any conflicting meanings inside the Bitcoin system.

My proposal is 'zib', chosen to be very similar to 'bit' – usable in all the same places – with even-better options for abbreviation and no meaning-collisions. More info is at:

http://zibcoin.org

...and discussion thread....

https://bitcointalksearch.org/topic/zib-zibcoin-z-with-slash-friendlier-terms-for-microbitcoin-btc-529301

Of all the many, many proposals (all of which seem to me to be solutions in search of a problem) "Zib" is the only one I've seen where there's been a real effort to provide the tools and information to make the change - most times the issue is presented as either "all we need to do is... [non trivial thing]" (social problem) or "all the developers need to do is... [non trivial thing]" (technical problem).

Incidentally, the names you say are variants of "microbitcoin" - strictly they're variants of BTC itself, the same way gigabyte is a variant of byte, millilitre is of litre, microgram of gram, etc. Well, the familiar ones are - "crobits" and "eubits" are new to me, and I can't determine scale from the names (which, incidentally, is one thing I do dislike about "Zib" - it uses a new name to replace familiar names).

johnyj

legendary

Activity: 1988

Merit: 1012

Beyond Imagination

Maybe use qbit in preparing for the coming days of quantum miners

1 qbit = 10000 satoshi
1 BTC = 10000 qbit

4 zeroes is a major step in Japanese math system, not like 3 zeroes in western

ThickAsThieves

hero member

Activity: 518

Merit: 500

Look, any change, other than a move to satoshis (no decimals), is arbitrary and therefore unnecessary. Call THOSE bits if you like, but moving the decimal around seems silly.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

1 uBTC = 1 microbitcoin = 1 bit = 1 XBT

Unless something better sounding is suggested, and zib is not it, bit is it.

We can simply take it over from all previous meanings including 1/8th of a USD.

gojomo

newbie

Activity: 31

Merit: 0

100 satoshis (no more than 2 digits after the decimal point) is the right unit size... but all variants of 'microbitcoin' are awkward names: "microbitcoin", "µBTC", "microbits", "crobits", "eubits", "mubits", "mics".

Unfortunately "bit" is also a problematic name. Some reasons are listed here:

http://zibcoin.org/faq#why-not-bits-to-mean-microbitcoins

The best bet would be to make-up another distinctive one-syllable word that doesn't have any conflicting meanings inside the Bitcoin system.

My proposal is 'zib', chosen to be very similar to 'bit' – usable in all the same places – with even-better options for abbreviation and no meaning-collisions. More info is at:

http://zibcoin.org

...and discussion thread....

https://bitcointalksearch.org/topic/zib-zibcoin-z-with-slash-friendlier-terms-for-microbitcoin-btc-529301

Swood6

newbie

Activity: 9

Merit: 0

Quote from: prezbo on May 02, 2014, 01:04:06 PM

Microbitcoins are best.

Please add the uBTC (micro Bitcoin) to the voting list!

molecular

donator

Activity: 2772

Merit: 1019

Quote from: BurtW on May 02, 2014, 03:58:46 PM

1 bit is also 1/8 of one USD.

Seeing all the hoopla over BTC versus XBT I would support the following:

1 BTC = 1 Bitcoin = same as it ever was

1 XBT = 1 Bit = 0.000001 BTC

1000000 XBT (Bit) = 1 BTC (Bitcoin)

I would be behind this 100% as it "fixes" the whole BTC/XBT issue and give those who have been worried about the size of the BTC something to use.

wow, we're really cleaning up now Wink

. like it.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: blatchcorn on May 02, 2014, 02:57:05 PM

Quote from: Steve on May 02, 2014, 02:10:18 PM

We (BitPay) like moving to "bits" …Jeff has written a blog post articulating how we intend to make the transition if we feel there is a consensus to go in this direction.

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

Best news I have heard all day Cheesy

I like the transition suggested: go to 6 decimals first (1 coffe = 0.009138 BTC), then just drop the "0." (1 coffee = 9138 bits).

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

PLUS

1 BTC = 1 BiTCoin

1 XBT = 1 BiT

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

1 bit is also 1/8 of one USD.

Seeing all the hoopla over BTC versus XBT I would support the following:

1 BTC = 1 Bitcoin = same as it ever was

1 XBT = 1 Bit = 0.000001 BTC

1000000 XBT (Bit) = 1 BTC (Bitcoin)

I would be behind this 100% as it "fixes" the whole BTC/XBT issue and give those who have been worried about the size of the BTC something to use.

KimNam

hero member

Activity: 644

Merit: 500

how to change mBTC and uBTC to bits? who can do that, bitcoin developer?

one of ALTcoin is BITS Grin

https://bitcointalksearch.org/topic/annbitsbitstar-pos-multipool-anon-in-wallet-fiat-exchange-beta-574652

cozk

hero member

Activity: 812

Merit: 500

Yes.

blatchcorn

sr. member

Activity: 952

Merit: 281

Quote from: Steve on May 02, 2014, 02:10:18 PM

We (BitPay) like moving to "bits" …Jeff has written a blog post articulating how we intend to make the transition if we feel there is a consensus to go in this direction.

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

Best news I have heard all day Cheesy

solex

legendary

Activity: 1078

Merit: 1006

100 satoshis -> ISO code

Quote from: 101111 on May 02, 2014, 11:23:15 AM

Quote from: solex on May 02, 2014, 01:38:22 AM

User 101111 on reddit made this mock-up wallet.

I wish I could take credit for that mock-up. I can't remember who made it but it was someone on reddit.

Thanks for mentioning. OP is corrected.

Quote from: BurtW on May 02, 2014, 01:27:02 PM

Quote from: Joshuar on May 02, 2014, 01:09:36 PM

that's gonna destroy bitcoin.

No it won't. Silly polls like this have come and gone for years. Nothing happens, ever.

Yep. Consensus works by discussing something until people are sick of the subject, although it will then be obvious where most people stand. Change can't be forced but it can be encouraged. A glacier builds from singular snowflakes.

IMHO Bitcoin would benefit from having a widely recognized unit with 2dp precision.

Technomage

legendary

Activity: 2184

Merit: 1056

Affordable Physical Bitcoins - Denarium.com

Quote from: Steve on May 02, 2014, 02:10:18 PM

We (BitPay) like moving to "bits" …Jeff has written a blog post articulating how we intend to make the transition if we feel there is a consensus to go in this direction.

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

This is excellent news! I can say for myself and the Finnish Bitcoin community that the community over here is very much on board with the change. Some are pressuring us to make the change before anyone else and we have used mBTC in some situations where it works especially well but we're still looking at overall community consensus.

For the change to be permanent and future proof it would need to be µBTC or "bits" as they are now called, not mBTC.

After reading Jeff's blog post I have to say my hopes of this change actually happening just went up 100x. This will be really good for Bitcoin as one of the key psychological advantages that altcoins have over Bitcoin will be gone.

Steve

hero member

Activity: 868

Merit: 1008

We (BitPay) like moving to "bits" …Jeff has written a blog post articulating how we intend to make the transition if we feel there is a consensus to go in this direction.

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

waspoza

hero member

Activity: 602

Merit: 508

Firstbits: 1waspoza

Quote from: spazzdla on May 02, 2014, 10:46:20 AM

NOOOOOOOOOOOOOOOOOOOOOPE, satoshies that is what we will use.

1 bitcent is 1 satoshi. Good enough for me.

waspoza

hero member

Activity: 602

Merit: 508

Firstbits: 1waspoza

Agreed. Bits looks good and doesn't need another change down the way (like from mili to micro).

Topic: 1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE - page 25. (Read 57137 times)