bitcoin units and ETF | Bitcointalksearch.org

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: secousa on February 23, 2017, 04:08:20 PM

Quote from: Biodom on February 23, 2017, 04:05:03 PM

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon).

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

Any ideas?
Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

The units are already defined. https://en.bitcoin.it/wiki/Units

bong-bitcoin. bitcoin-san.

Nope!

york780

sr. member

Activity: 392

Merit: 250

I am glad that I could help you all out : bitshare it is !

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: afbitcoins on February 24, 2017, 04:25:47 AM

Quote from: Biodom on February 23, 2017, 04:05:03 PM

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon.

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

EDIT (maybe better):
1 btc=1 bitcoin=current unit
1 bts=1 bitcoin etf share=10-2 btc=bitshare (this term was coined by @york780 below)

Any ideas?
Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

No no no!

Don't start linking share price of a different asset to bitcoin! Just don't

By all means think of nice names for fractions of bitcoin though.

well, just think of 1bts=bitshare as a 1/100 of bitcoin
I think that it is a good possible name (including shortened version) and is quite handy.
i will start using it myself.

afbitcoins

legendary

Activity: 2101

Merit: 1061

Quote from: Biodom on February 23, 2017, 04:05:03 PM

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon.

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

EDIT (maybe better):
1 btc=1 bitcoin=current unit
1 bts=1 bitcoin etf share=10-2 btc=bitshare (this term was coined by @york780 below)

Any ideas?
Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

No no no!

Don't start linking share price of a different asset to bitcoin! Just don't

By all means think of nice names for fractions of bitcoin though.

rogerwilco

member

Activity: 107

Merit: 10

Yeah, no one wants to say "millibitcoin".

It has surpassed dollar parity. It's overdue for a catchy name.

Biodom

legendary

Activity: 3892

Merit: 4331

"My thinking about this case become very uptight"

something even simpler:

1 btc=1 bitcoin
1 bts=1 bitcoin etf share=10-2 btc=bitshare

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: gentlemand on February 23, 2017, 04:18:44 PM

I think it may be too late now. Coinbase, Bitpay and a few others tried to introduce 'bits', 100 satsoshis, and that went nowhere.

If Satoshi hadn't been balls deep in computer science, he would've realised most humans don't want strings of zeroes before the numbers that count. He should've either started off with many more primary units or made the change when it was just starting to get somewhere.

Well, maybe, but I surmise that people would like to trade etf-equivalents in "pure" bitcoin, hence the need.
Current bits (10-6 btc) are made up and too far from a meaningful value yet.

10-2; call them
bet(s) if you want to (bitcoin etf equivalents) OR
bif(s) (bitcoin etf equivalents)

maybe someone will propose something better (@york780: bitshare is good too)

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

I think it may be too late now. Coinbase, Bitpay and a few others tried to introduce 'bits', 100 satsoshis, and that went nowhere.

If Satoshi hadn't been balls deep in computer science, he would've realised most humans don't want strings of zeroes before the numbers that count. He should've either started off with many more primary units or made the change when it was just starting to get somewhere.

york780

sr. member

Activity: 392

Merit: 250

bitshare? bittoken? something like that ?

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: secousa on February 23, 2017, 04:08:20 PM

Quote from: Biodom on February 23, 2017, 04:05:03 PM

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon).

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

Any ideas?
Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

The units are already defined. https://en.bitcoin.it/wiki/Units

I am just proposing a short hand for bitcent (centi-bitcoin is a mouthful) Sad

defined by whom? wiki contributors?
nonsense, we can change them if we want to
'they' also defined:
bitcoin-bong; bitcoin-ton?
WTF!?

secousa

full member

Activity: 203

Merit: 151

Quote from: Biodom on February 23, 2017, 04:05:03 PM

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise soon we might have too many zeroes before numbers for small purchase (quite soon).

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

Any ideas?
Overall, I think that trading in 'etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

The units are already defined. https://en.bitcoin.it/wiki/Units

Biodom

legendary

Activity: 3892

Merit: 4331

ETF: looks like it is getting closer as Winkies just filed an amendment changing the number of shares for the initial trade from 100k to 500k.

With that, and in the interest of liquidity while trading bitcoin proper, maybe we should at least consider some units other than btc. Otherwise, we might have too many zeroes before numbers for small purchase quite soon.

I know about bits (10-6) and mbtc (10-3), but what about something similar to bitcent (10-2), which would be an equivalent to 1 COIN ETF share:

My name candidates (for 10-2 bitcoin):

bitt (bitcoincent)
bitty (same meaning, but softer)
betf (bitcoin etf unit) #not very conducive to pronunciation, I know

EDIT (maybe better):
1 btc=1 bitcoin=current unit
1 bts=1 bitcoin [etf] share=10-2 btc=bitshare (this term was coined by @york780 below)

Any ideas?
Overall, I think that trading in 10-2='etf' units might be helpful for newbs and those who like buying things by the 100s (similar to stocks).

Topic: bitcoin units and ETF (Read 834 times)