The comparison is fine as this is still the wild west for bitcoin and we can do whatever we want. As for the dollars to cents idea, the general public would likely laugh at it because it is ass backwards from what they are used to.
If a cent is not a real thing and was merely a fraction of something larger, why would the US government mint a coin after it? They should have cut up 1 dollar bills. ...
I was talking about linguistics, not minting. You may re-read my post.
...As for the Satoshi, it is a fraction is something because 8 places in front of it there is a decimal.
Nope, it isn't.
- On my website I'll be quoting prices in satoshis. That means there'll be integers and no decimal point.
- The word "satoshi" (unlike "cent") doesn't contain any reference to being a fraction of something. Users won't be reminded that there's a larger unit.
In the future when the value it growing there will be a need for a new unit, ...
Correct.
...and it will not be the Satoshi as it is too small.
I want to have your crystal ball!!
How can you be so sure about what the bitcoin price is doing in ten years??
My aim is not to make it sound as something familiar, but to find the least confusing way of quoting a price.
And yes: More units means more confusion. 4 567 satoshis is easier to understand than "45 bits and 67 satoshis".
Less confusing to newbies and more awkward for the general public to use in the future.
The future's general public will be old enough to care about themselves, no worries.
If future's general public will frequently have to deal with thousands of satoshis, then they'll find a word for it themselves (similiar to the grand in the dollar world).
What we should care about is today. Every day newbies come into bitcoin and have a hard time understanding it.
There's no need to make it additionally complicated when it comes to currency units.
Why should we confront them with a special name for 100 satoshis, if it isn't needed for understanding?
At this point, please try to imagine you were me and make a little fact check:
- FACT: I have to go to smaller denominations of bitcoin because that "point oh oh oh" crap would literally kill my business.
- FACT: There is a broad consensus that a hundred millionth of a bitcoin shall be called "satoshi". That means that my customers will figure it out quickly.
- FACT: There is no consensus about what a millionth of a bitcoin shall be called. That means that my customers might find contrary opinions and lots of discussion. Not good for business.
→ Logical conclusion: Use satoshis. Simple as that.
...and I'm not the only one whom above reasoning applies to.
We need something plain and simple, not micro bits or ultra micro bits and whatever. Keep it plain and simple.
“Milli” and “micro” are SI units. Where did that “ultra” came from, did you make it up?
If “milli” and “micro” are not simple enough, then I don't know what can be.
The words "milli" and "micro" are not the problem itself. The problem is that this would introduce an additional, third unit to the two units we already have (satoshi & bitcoin).
Ofcourse these additional units can very well be used. But the question is whether they should be presented to users who just start out with bitcoin.
Bits
This isn't reddit. Pointless posts aren't getting upvoted here.
Maybe you want to contribute something to the discussion instead?