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Topic: What should 100 Satoshis be called? (Read 1659 times)
Lock this thread Just learned how to use the feature today. It's in the lower left hand corner.
Just learned how to use the feature today. It's in the lower left hand corner. 
please continue the discussion and vote in the revised poll for what to call 100 satoshis:
https://bitcointalksearch.org/topic/what-should-100-satoshis-be-called-make-sure-to-vote-for-two-choices-594575
https://bitcointalksearch.org/topic/what-should-100-satoshis-be-called-make-sure-to-vote-for-two-choices-594575
Bit is fine. In fact there is already a very famous song about it "shave and a haircut, two bits". That should be our goal. Bitcoin acceptance to the level that a shave and a haircut costs two bits.
Everyone who agrees just needs to start using it, explaining it, publishing it, correcting other (anoying them), etc. It will either catch on or it won't. This is what I hope catches on:
1 satoshi = smallest unit, pretty much in general use today
= "bitcents" also makes some sense and may catch on and evolve back into cents (1/100th)
1 bit = 100 satoshi, eventually every day use, coffee, sandwiches, etc.
1 XBT = 1 bit, should be the official symbol on all exchanges, forex, etc.
1 BTC = 1000000 bits = kept for dealing with larger amounts, may fade
1 Bitcoin/bitcoin as a currency unit fades away
Bitcoin = the Bitcoin protocol
Everyone who agrees just needs to start using it, explaining it, publishing it, correcting other (anoying them), etc. It will either catch on or it won't. This is what I hope catches on:
1 satoshi = smallest unit, pretty much in general use today
= "bitcents" also makes some sense and may catch on and evolve back into cents (1/100th)
1 bit = 100 satoshi, eventually every day use, coffee, sandwiches, etc.
1 XBT = 1 bit, should be the official symbol on all exchanges, forex, etc.
1 BTC = 1000000 bits = kept for dealing with larger amounts, may fade
1 Bitcoin/bitcoin as a currency unit fades away
Bitcoin = the Bitcoin protocol
We can even adopt the "shave and a haircut, two bits" knock as the official not so secret Bitcoin knock!
"100 satoshis" sounds pretty good. I don't understand why people try change things. Work on services, products, not fixing things that are not broken.
100 satoshis should be called 100 satoshis.
Everything else is just stupid. You don't just call 100$ "hollars" or something like that.
Everything else is just stupid. You don't just call 100$ "hollars" or something like that.
What if we called them centoshi?
Cent for 100, e.x. 100 years = Century
Toshi, self explanatory. Part of satoshis.
Cent for 100, e.x. 100 years = Century
Toshi, self explanatory. Part of satoshis.
100 satoshis
99% of people still don't know whether 1 BTC equals $440 or $1 equals 2273 BTC. It might be inconvenience for us to redefine bitcoin but other 99% don't care and we get to keep the brand bitcoin in everyday use.
There is no way in hell you are going to get the whole network to simultaneously re-define a bitcoin. Dumbest idea I've heard in a while.
It doesn't have to be simultaneously if we introduce a new name/symbol equal in value to current bitcoin (100M satoshis). We can call it megabit, megabitcoin (MBTC), ZIB or something else.
In a few months, we can switch completely to (redefined) bitcoin and drop or leave the name for 1M units.
No problems at all.
There is no way in hell you are going to get the whole network to simultaneously re-define a bitcoin. Dumbest idea I've heard in a while.
If it happens, there should be an agreed upon point in the future when much of the industry agrees to implement the shift. January 1, 2016 would be a reasonable target.
There is no way in hell you are going to get the whole network to simultaneously re-define a bitcoin. Dumbest idea I've heard in a while.
Hey, how about: One Hundred Satoshis?
I say 87.5 satoshis. In theory it would be confusing but in reality it would not. I voted for "bitcoin" because it actually makes the most sense. When governments revalue their currencies (usually going the other way) they end up using the same name. For example, back in the 90s Mexico moved the decimal place on the peso over by three. The currency is called the peso now, and it was called the peso before the switch.
Likewise, when a stock splits the name is kept the same.
I see no reason to use any term other than bitcoin. Bitcoin is an established brand and a good name.
Likewise, when a stock splits the name is kept the same.
I see no reason to use any term other than bitcoin. Bitcoin is an established brand and a good name.
I agree, this is the best solution. It has precedent and would be easy enough for people to understand. Bitcoin should be the name of the unit that is commonly used. The other proposed names, such as bits, millibitcoins, microbitcoins, mBTC, or uBTC, are all vastly inferior. The currency abbreviation needs to be three letters, BTC, not four, mBTC or uBTC. A four-syllable pronunciation (millibitcoin or microbitcoin) is way too long. Bitcoin, dollars, pesos, euros, rubles, are two syllables. Bits is just too generic of a word, and it already has another meaning in the computer space.
So if the general consensus is that people cannot deal with decimals, let's move the decimal over six places so that today 1 Bitcoin = 100 satoshi = 0.00045 dollars. When the Bitcoin market cap reaches 700 billion dollars in a few years, the price will be 1 BTC = 0.045 dollars. We will never need another shift.
I think satoshis would be good, because pennies and dollars. yeah. plus it's like an inside thing for those who know 
Hey, how about: One Hundred Satoshis?
You're missing lots of options that have been proposed:
microbitcoin
microbits
micros
mics
µBTC
uBits
crobits
zib
It's not much use as a poll if you've already limited it to your two favorites, including one (renaming "bitcoin") that's nearly impossible to pull off without major confusion and risk of money-losing errors.
microbitcoin
microbits
micros
mics
µBTC
uBits
crobits
zib
It's not much use as a poll if you've already limited it to your two favorites, including one (renaming "bitcoin") that's nearly impossible to pull off without major confusion and risk of money-losing errors.
I did not pick my favorites.
Then why did you include your snowball's-chance-in-hell favorite choice, 'bitcoin redefined as 100 satoshi', but none of the others?
Satoshi My Nigamotto, domo arigato mister robato
Moderators please move this topic to the Humor section.
Redefining how many satoshi's to a bitcoin would not cause major confusion. In theory it would, but in reality it wouldn't.
Glad you cleared that up for us.
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None of options on your list (one of which I came up with) have a chance of being accepted.
That is your opinion. Many people have the opinion that bitcoin has no chance in hell of being redefined ... EVER. However you included that in your poll. Starting to see the selection bias.
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