Pages:
Author

Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? (Read 8395 times)

member
Activity: 69
Merit: 10
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.







But we do need a good name for 100 Satoshi.
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.
legendary
Activity: 1008
Merit: 1001
Let the chips fall where they may.
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.
member
Activity: 66
Merit: 10
I was taught to call those small btcs as Satoshis.. Other people are calling it millibit or bits. I dont know what's correct
member
Activity: 69
Merit: 10
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
full member
Activity: 210
Merit: 100
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.. 
hero member
Activity: 525
Merit: 500
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.
member
Activity: 69
Merit: 10
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.
member
Activity: 112
Merit: 10
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" Smiley 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 Smiley

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.
member
Activity: 462
Merit: 10
No, idea. I usually just called it whatever they called it.
full member
Activity: 140
Merit: 101
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" Smiley 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 Smiley
newbie
Activity: 53
Merit: 0
I call it as it is 100 satoshi or the more common term now a days is "dust"
sr. member
Activity: 308
Merit: 250
I'd probably say 100 satoshis, and 0.000001 BTC in brackets or so.
legendary
Activity: 1008
Merit: 1001
Let the chips fall where they may.
legendary
Activity: 1246
Merit: 1011
legendary
Activity: 1008
Merit: 1001
Let the chips fall where they may.
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.
legendary
Activity: 3038
Merit: 1660
lose: unfind ... loose: untight
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.
newbie
Activity: 19
Merit: 0
sr. member
Activity: 434
Merit: 250
1 bit = 100 satoshi.
hero member
Activity: 644
Merit: 503
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.
Pages:
Jump to: