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Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? - page 3. (Read 8401 times)

hero member
Activity: 525
Merit: 500
I'm guessing you don't genuinely find 1 btc = 1,000,000 bits 'ridiculously confusing'. But it's not really about you though is it? It's about the next billion adopters - what will be easy for them to use?


wut?
If someone told me a bit was also 1,000,000 bits, of course it's fkn confusing. Are you mad?
I'd never use number like 1,000,000 for that anyway. It would just be one bitcoin
I'm sure the other billion adopters would prefer that too. Lol.
No, it's not 1 bit = 1,000,000 bits, do you really think that is the suggestion here?
hero member
Activity: 576
Merit: 503
I use:

1 BTC: one bitcoin
0.1 BTC: ten bitcents or zero point one bitcoins
0.01 BTC: one bitcent
0.001 BTC: one millibit
0.0001 BTC: ten thousand satoshis (edit: or one pip)
0.00001 BTC: one thousand satoshis
0.000001 BTC: one hundred satoshis, one microbit or one mike
0.0000001 BTC: ten satoshis
0.00000001 BTC: one satoshi (obviously)

So I voted for "100 satoshis".

That is basically how I say it, but I think the whole scheme is absolutely terrible.  Looks like a bunch of computer geeks made it up.

one of the reasons for 'bits'

short, sweet, simple, easy to say, easy to understand


but ridiculously confusing when you realize that a milibit now becomes a kbit.
It's absurd to use 'bit' to mean a bitcoin and also to mean a microbitcoin.
Not to say people  aren't absurd at times tho. lol.

I'll stick to bitcoins, millies and micros for clarity.
I'm guessing you don't genuinely find 1 btc = 1,000,000 bits 'ridiculously confusing'. But it's not really about you though is it? It's about the next billion adopters - what will be easy for them to use?



wut?
If someone told me a bit was also 1,000,000 bits, of course it's fkn confusing. Are you mad?
I'd never use number like 1,000,000 for that anyway. It would just be one bitcoin
I'm sure the other billion adopters would prefer that too. Lol.
legendary
Activity: 1246
Merit: 1011
I confess I don't know what the 'mikes' solution is, maybe you can explain? Maybe mikes will become another widely used option, and maybe there'll be more options we haven't thought of yet, each offering advantages in certain situations, for certain groups of users; for example, SI would be a good choice for backend IoT transactions; bits for the aforementioned coffee shop example.

The 'mikes' solution is precisely the same as the 'bits' solution, only with a different name.  I believe 'mikes' predates 'bits' by nearly 3 years (or, about 2 years, if you count the older suggestion that we rename 'satoshi' to 'bit').

I completely agree that there's no single solution.  At a low level, satoshis are useful; for some applications, SI is good; for the coffee shop, I'd like a slang term.  I recall reading the reddit "it's bits" post almost a year ago now and thinking: "I very much agree with everything here except the term".
sr. member
Activity: 413
Merit: 250
100 satoshi might be confusing for newbies, best is 0.000001 BTC
hero member
Activity: 525
Merit: 500
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Why choose?
I'd agree, but OP is looking to make a choice for a website.

You're evading the question.  OP has already gathered the information they sought and has settled on "satoshi".

Again, why do you choose between alienating "common people" (with "μBTC = microbitcoins") and alienating "crypto-electro-engineers" (with "bits") when you can accommodate both so easily with "mikes"?
I didn't mean to evade the question; no sinister intent or ulterior motive - just noting the fact that there was a poll asking for a choice to be made. That was 'why choose'. Otherwise I tend to the anarchic over the dictatorial.

I'm advocating an easy to use system for general use by people, one without the psychological high price barrier, one that might help bridge the adoption chasm, but if some folk decide to stick with SI good on them, that's their choice, and I'm sure there will be situations where it will be necessary to use SI, just as there'll be crossover between the groups; sometimes SI may be more appropriate, other times, bits.

I confess I don't know what the 'mikes' solution is, maybe you can explain? Maybe mikes will become another widely used option, and maybe there'll be more options we haven't thought of yet, each offering advantages in certain situations, for certain groups of users; for example, SI would be a good choice for backend IoT transactions; bits for the aforementioned coffee shop example.
EFS
staff
Activity: 3822
Merit: 2123
Crypto Swap Exchange
100 satoshi is 100 satoshi and I call them 100 satoshi.
sr. member
Activity: 714
Merit: 251
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Why choose?
I'd agree, but OP is looking to make a choice for a website.

You're evading the question.  OP has already gathered the information they sought and has settled on "satoshi".

Again, why do you choose between alienating "common people" (with "μBTC = microbitcoins") and alienating "crypto-electro-engineers" (with "bits") when you can accommodate both so easily with "mikes"?

Mikes is not great either, it's still confusing.
legendary
Activity: 1246
Merit: 1011
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Why choose?
I'd agree, but OP is looking to make a choice for a website.

You're evading the question.  OP has already gathered the information they sought and has settled on "satoshi".

Again, why do you choose between alienating "common people" (with "μBTC = microbitcoins") and alienating "crypto-electro-engineers" (with "bits") when you can accommodate both so easily with "mikes"?
hero member
Activity: 525
Merit: 500
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Why choose?
I'd agree, but OP is looking to make a choice for a website.
sr. member
Activity: 393
Merit: 250
My vote goes to 100 satoshis. It is easier because almost everyone understands it.
legendary
Activity: 1246
Merit: 1011
Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Why choose?  I'd prefer to think of both groups.

"mikes" is just as good as "bits" for the average consumer and it's far better for crypto-electro-engineers.
hero member
Activity: 525
Merit: 500
Sure; let's say you're in a 'we take bitcoin' coffee shop, and they charge 700 bits for a coffee. Would get confused and think it costs 700 btc?
If someone charged me 700 bits for a coffee... I would ask them to repeat the price again.
Yes, in your utter confusion, I'm sure you would.

Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

Also, why do you think cryptoelectroengineers(?) are the only ones who can grasp the SI system?
Where do I say 'only ones'? It looks like you can't understand English either.

hero member
Activity: 658
Merit: 500
Sure; let's say you're in a 'we take bitcoin' coffee shop, and they charge 700 bits for a coffee. Would get confused and think it costs 700 btc?

Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.

If someone charged me 700 bits for a coffee... I would ask them to repeat the price again.

Also, why do you think cryptoelectroengineers(?) are the only ones who can grasp the SI system?
hero member
Activity: 525
Merit: 500
Sure; let's say you're in a 'we take bitcoin' coffee shop, and they charge 700 bits for a coffee. Would get confused and think it costs 700 btc?

Think of the average consumer here, not the crypto-electro-engineer in her microcomputer lab.
hero member
Activity: 658
Merit: 500
I'm guessing you don't genuinely find 1 btc = 1,000,000 bits 'ridiculously confusing'.

As a matter of fact, I do. The logical meaning would be “bits” = “bitcoins”. Just an abbreviation. Using a very similar word to mean something orders of magnitude smaller is very confusing, at least for me.
hero member
Activity: 525
Merit: 500
I use:

1 BTC: one bitcoin
0.1 BTC: ten bitcents or zero point one bitcoins
0.01 BTC: one bitcent
0.001 BTC: one millibit
0.0001 BTC: ten thousand satoshis (edit: or one pip)
0.00001 BTC: one thousand satoshis
0.000001 BTC: one hundred satoshis, one microbit or one mike
0.0000001 BTC: ten satoshis
0.00000001 BTC: one satoshi (obviously)

So I voted for "100 satoshis".

That is basically how I say it, but I think the whole scheme is absolutely terrible.  Looks like a bunch of computer geeks made it up.

one of the reasons for 'bits'

short, sweet, simple, easy to say, easy to understand


but ridiculously confusing when you realize that a milibit now becomes a kbit.
It's absurd to use 'bit' to mean a bitcoin and also to mean a microbitcoin.
Not to say people  aren't absurd at times tho. lol.

I'll stick to bitcoins, millies and micros for clarity.
I'm guessing you don't genuinely find 1 btc = 1,000,000 bits 'ridiculously confusing'. But it's not really about you though is it? It's about the next billion adopters - what will be easy for them to use?

hero member
Activity: 576
Merit: 503
I use:

1 BTC: one bitcoin
0.1 BTC: ten bitcents or zero point one bitcoins
0.01 BTC: one bitcent
0.001 BTC: one millibit
0.0001 BTC: ten thousand satoshis (edit: or one pip)
0.00001 BTC: one thousand satoshis
0.000001 BTC: one hundred satoshis, one microbit or one mike
0.0000001 BTC: ten satoshis
0.00000001 BTC: one satoshi (obviously)

So I voted for "100 satoshis".

That is basically how I say it, but I think the whole scheme is absolutely terrible.  Looks like a bunch of computer geeks made it up.

one of the reasons for 'bits'

short, sweet, simple, easy to say, easy to understand


but ridiculously confusing when you realize that a milibit now becomes a kbit.
It's absurd to use 'bit' to mean a bitcoin and also to mean a microbitcoin.
Not to say people  aren't absurd at times tho. lol.

I'll stick to bitcoins, millies and micros for clarity.
newbie
Activity: 27
Merit: 0
Satoshibit is a good name..  Roll Eyes
legendary
Activity: 1246
Merit: 1011
I use:

1 BTC: one bitcoin
0.1 BTC: ten bitcents or zero point one bitcoins
0.01 BTC: one bitcent
0.001 BTC: one millibit
0.0001 BTC: ten thousand satoshis (edit: or one pip)
0.00001 BTC: one thousand satoshis
0.000001 BTC: one hundred satoshis, one microbit or one mike
0.0000001 BTC: ten satoshis
0.00000001 BTC: one satoshi (obviously)

So I voted for "100 satoshis".

That is basically how I say it, but I think the whole scheme is absolutely terrible.  Looks like a bunch of computer geeks made it up.

one of the reasons for 'bits'

short, sweet, simple, easy to say, easy to understand

hero member
Activity: 840
Merit: 1000
I'm brainstorming about it right now and I wonder how to display to the users what amount of bitcoin they'll receive.
The average payout will be smaller than 0.01$ in bitcoins.

Use the same Bitcoin-qt is showing when you have to confirm payment, BTC, mBTC and µBTC. All together
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