When quoting small amounts of bitcoin, how do you call 100 satoshis?

KingOfTrolls

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Quote from: 101111 on October 25, 2014, 11:44:59 PM

In your OP you state you want them to know how much they are receiving in bitcoin, so just display the amount in bitcoin.

"We have sent you 5 cents worth of bitcoin: BTC0.00014435"

Presumably they will be newbies, so KISS.

You are quite right, I need to keep it simple and stupid.
But using whole BTC isn't an option because the payouts would appear too tiny.
"oh point oh oh oh" isn't something that people want to have.

So I had to find a bitcoin unit which is universally understood and small enough to avoid the decimal point, and I ended up using satoshi.

Quote from: SomethingElse on October 26, 2014, 05:56:58 AM

But we do need a good name for 100 Satoshi.

Quote from: phillipsjk on October 29, 2014, 02:27:48 PM

There is only one reason the "bits" term is equivalent to 1µBTC: we need convenient a name for that much Bitcoin.

I disagree. Or at least: I'm not included in we.

My faucet is running since two weeks and payouts are quoted in satoshis.
I have received zero complaints, questions, or issues regarding the use of "satoshi".

I have a short explainer on my site which essentially says "100 million satoshis = 1 bitcoin". And that seems to do the trick.

Thus I have zero incentive to add any additional units to the system. I don't want to needlessly clutter up my website.
Actually, I'm rather worried that additional units could confuse newbies, for example, like this.

phillipsjk

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Let the chips fall where they may.

Quote from: fredthegambler on October 29, 2014, 10:55:43 AM

I was taught to call those small btcs as Satoshis.. Other people are calling it millibit or bits. I dont know what's correct

All of the amounts in the poll question are equivalent.

Perhaps you are one of the people actually confused by the "bits" term being pushed. There is only one reason the "bits" term is equivalent to 1µBTC: we need convenient a name for that much Bitcoin.

fredthegambler

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I was taught to call those small btcs as Satoshis.. Other people are calling it millibit or bits. I dont know what's correct

KingOfTrolls

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Quote from: KingOfTrolls on October 25, 2014, 03:56:36 PM

If you are a user of a website, then the question is: "Which bitcoin units do you understand / want to use?"

If you are the owner of a website, then the question is: "What is the lowest common denominator that all of your users understand / want to use?"

This poll explicitly asked the second question, which I think is the more difficult, albeit more important one.

I started another poll which explicitly asks the first question, or more precisely, its opposite:

https://bitcointalksearch.org/topic/which-of-these-bitcoin-units-do-you-not-want-to-use-835215

SomethingElse

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Looking for the next big thing

So Satoshi is a good name for the smallest unit. But we do need a good name for 100 Satoshi. It seems like momentum is going for "bit" and and I am okay.

We then know that 1,000,000 bits equals one bitcoin.

We need to figure this out because someday hopefully a Satoshi will be worth 0.01 USD. A bit will equal $1. And a million bits will be a bitcoin, "the whole coin".

To me though these names of "bit" and "Satoshi" are a nerdy and weak. It would be much better if the community came up with better names. Some kind of rebranding.

That would also draw more interesting into Bitcoin as it would spark discussion..

101111

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In your OP you state you want them to know how much they are receiving in bitcoin, so just display the amount in bitcoin.

"We have sent you 5 cents worth of bitcoin: BTC0.00014435"

Presumably they will be newbies, so KISS.

KingOfTrolls

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Quote from: TheLoser on October 25, 2014, 11:19:45 AM

No, idea. I usually just called it whatever they called it.

If you are a user of a website, then the question is: "Which bitcoin units do you understand / want to use?"

If you are the owner of a website, then the question is: "What is the lowest common denominator that all of your users understand / want to use?"

This poll explicitly asked the second question, which I think is the more difficult, albeit more important one.

Jimmy_Zed

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Quote from: rgenito on October 25, 2014, 09:03:47 AM

Quote from: phillipsjk on October 23, 2014, 12:04:03 AM

Quote from: pequelore on October 22, 2014, 09:54:40 PM

Quote from: Oscilson on October 22, 2014, 03:52:43 PM

1 bit = 100 satoshi.

Is "bit" the official term?

No, but it does appear to have some of the big players behind it.

Since Coinbase adoption, I have mostly stopped following it. Apparently many wallets support it as well.

It is also apparent that Americans find the Metric system confusing for some reason. Though in grade 2, it was taught with props: 10 cubes make a stick of 10, 10 sticks make a sheet of 100. 10 sheets of 100 make a cube of 1000. Actually that is not explaining the Metric system per se: that was explaining how Arabic numerals work. I think all the metric names for orders of magnitude were covered in grade 3.

Edit: removed duplicate 2011 discussion link.

Good point phillipsjk...looks like bits "won"

As teukon mentioned, Gavin (senior bitcoin developer) also adopted "bits". Other services I have found that entirely use "bits" as the smaller unit:

http://gambit.com -- tons of fun games, play for bits.
http://breadwallet.com -- best iOS wallet, hands down.
https://wallofcoins.com -- get cash for your bitcoin fast.

Good closing for this post, especially with all of the Bitcoin peeps understanding what "bits" is

Are you blind? 100 satoshi won the poll ! Who cares about bits, and nits and tits, 100 satoshi is straightforward and no fancy mambo jumbo there. Simple and to the point.

TheLoser

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No, idea. I usually just called it whatever they called it.

rgenito

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Quote from: phillipsjk on October 23, 2014, 12:04:03 AM

Quote from: pequelore on October 22, 2014, 09:54:40 PM

Quote from: Oscilson on October 22, 2014, 03:52:43 PM

1 bit = 100 satoshi.

Is "bit" the official term?

No, but it does appear to have some of the big players behind it.

Since Coinbase adoption, I have mostly stopped following it. Apparently many wallets support it as well.

It is also apparent that Americans find the Metric system confusing for some reason. Though in grade 2, it was taught with props: 10 cubes make a stick of 10, 10 sticks make a sheet of 100. 10 sheets of 100 make a cube of 1000. Actually that is not explaining the Metric system per se: that was explaining how Arabic numerals work. I think all the metric names for orders of magnitude were covered in grade 3.

Edit: removed duplicate 2011 discussion link.

Good point phillipsjk...looks like bits "won"

As teukon mentioned, Gavin (senior bitcoin developer) also adopted "bits". Other services I have found that entirely use "bits" as the smaller unit:

http://gambit.com -- tons of fun games, play for bits.
http://breadwallet.com -- best iOS wallet, hands down.
https://wallofcoins.com -- get cash for your bitcoin fast.

Good closing for this post, especially with all of the Bitcoin peeps understanding what "bits" is

farjia

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Merit: 0

I call it as it is 100 satoshi or the more common term now a days is "dust"

MultipliedCombo

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I'd probably say 100 satoshis, and 0.000001 BTC in brackets or so.

teukon

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Quote from: phillipsjk on October 23, 2014, 12:50:49 AM

Quote from: teukon on October 23, 2014, 12:34:48 AM

Quote from: phillipsjk on October 23, 2014, 12:04:03 AM

A June 9, 2011 reference to 1µBTC being equal to 1 bit

Ha, I never knew this. Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

No, too lazy Cheesy

I think http://zibcoin.org/ just converted me to "zib".

Lol, yeah, I remember commenting on that back in March.

Good luck zibcoin!

phillipsjk

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Let the chips fall where they may.

Quote from: teukon on October 23, 2014, 12:34:48 AM

Quote from: phillipsjk on October 23, 2014, 12:04:03 AM

A June 9, 2011 reference to 1µBTC being equal to 1 bit

Ha, I never knew this. Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

No, too lazy Cheesy

I think http://zibcoin.org/ just converted me to "zib".

teukon

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Quote from: phillipsjk on October 23, 2014, 12:04:03 AM

A June 9, 2011 reference to 1µBTC being equal to 1 bit

Ha, I never knew this. Thanks.

Did you consider adding Gavin's recent endorsement of "bits" to your list?

phillipsjk

legendary

Activity: 1008

Merit: 1001

Let the chips fall where they may.

Quote from: pequelore on October 22, 2014, 09:54:40 PM

Quote from: Oscilson on October 22, 2014, 03:52:43 PM

1 bit = 100 satoshi.

Is "bit" the official term?

No, but it does appear to have some of the big players behind it.

Since Coinbase adoption, I have mostly stopped following it. Apparently many wallets support it as well.

It is also apparent that Americans find the Metric system confusing for some reason. Though in grade 2, it was taught with props: 10 cubes make a stick of 10, 10 sticks make a sheet of 100. 10 sheets of 100 make a cube of 1000. Actually that is not explaining the Metric system per se: that was explaining how Arabic numerals work. I think all the metric names for orders of magnitude were covered in grade 3.

Edit: removed duplicate 2011 discussion link.

jbreher

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lose: unfind ... loose: untight

Quote from: LMGTFY on October 22, 2014, 01:17:41 PM

Quote from: jbreher on October 22, 2014, 01:09:22 PM

Quote from: phillipsjk on October 11, 2014, 08:46:36 AM

I think the SI base-unit for mass is the kg, further adding to the confusion.

Just no. The base unit for mass in the SI system is the gram. Defined as the mass of 1 ml of water at STP.

No, the SI base unit for mass is the kilogram, and it's the only base unit not defined by a fundamental physical property - though that may change very soon.

Mea culpa. my (mis)education has led me astray.

pequelore

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Quote from: Oscilson on October 22, 2014, 03:52:43 PM

1 bit = 100 satoshi.

Is "bit" the official term?

Oscilson

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1 bit = 100 satoshi.

LMGTFY

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Quote from: jbreher on October 22, 2014, 01:09:22 PM

Quote from: phillipsjk on October 11, 2014, 08:46:36 AM

I think the SI base-unit for mass is the kg, further adding to the confusion.

Just no. The base unit for mass in the SI system is the gram. Defined as the mass of 1 ml of water at STP.

No, the SI base unit for mass is the kilogram, and it's the only base unit not defined by a fundamental physical property - though that may change very soon.

Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? (Read 8418 times)