Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? - page 5. (Read 8418 times)

They say “ounces of gold”, but that's because of the flawed Imperial system. Just because the US is using it doesn't mean everyone should follow them.

Also, about the 3 letters of “bit”, that sounds more poetic than an actual logical reason to choose it.

Agreed.

That was pars pro toto. I'm sorry if you feel attacked personally, but your post just happened to be the latest in a series of equally pointless posts, all of which should be equally addressed by this:

Just shouting out an one word response without a single sentence of reasoning is what I refer to as pointless post, and it doesn't bring the discussion any forward.

I hope that you can take that bit of critique and now contribute something to the discussion, for example a reasoning on why you think your stance to be the better one.

btw you didn't attack any other succinct responses such as "one microbit" "one finney", so maybe you should also be questioning your own bias?

I remember seeing  somebody saying "Centoshi" or "Bitcent"
sorry forgot who you were too lazy to find it.

I really liked that

milli-litres, millimetres, micrograms, microwave ovens, microbes, microphones, microsoft

ull find micro and milli is used a hell of alot more in real conversations than bit.

though i like the term bit because its 3 digits of a BITcoin, same as 100 is 3 digits. im kind of leaning towards a 'finney'
after all no one says microtonnes of gold or millitones of gold.

I'd just like to layer my own observations atop this, being as unbiased as I can manage.  I'm running with your implicit assumption that "bitcoin", "millibitcoin", and "microbitcoin" are distinct units.

The bitcoin is by far the most common unit in the Bitcoin system.  This was introduced by satoshi with the release of the code (early 2009).  It is the only unit sufficiently widely recognised that it has been entered into a number of reputable dictionaries (e.g. OED).  The symbol "BTC" is the most popular, but BTC and "XBT" are also frequently seen.

The millibitcoin is easily the second most widely used unit today.  This follows naturally from "bitcoin" and the SI prefix "milli-" (1795) and was first discussed on the forum in early 2011.  I doubt it's in any dictionaries but there is basically a consensus on the term.  The symbol used is almost always "mBTC".  Nicknames vary: "millibit", "mill", "millie".

The satoshi is the third most common unit.  It was introduced in early 2011 by bitcointalk (then bitcoin forum) user ribuck (originally as a name for 0.000 001 BTC but this quickly changed to 0.000 000 01 BTC, currently the smallest possible unit).  It is, as you observe, practically the only name for this unit.  "SAT"/"Sat"/"sat" is relatively common as a symbol and a nickname.

The infamous 0.000 001 BTC unit is more the subject of flamewars than anything else, not least because two of the most popular names, "bit" and "microbit", are in direct logical conflict.  It's possible both will become accepted (just as 1 calorie = 1 kilocalorie) but the issue is far from decided.  I've seen many proposed names for this unit; off the top of my head (alphabetically, lower case): "bit", "centoshi", "fin", "finney", "hectoshi", "mic", "microbit", "microbitcoin", "mike", "mubit", "ubit", "xub", "zib".  Selecting one name may well end up attracting negative attention to your platform so please tread carefully.

As I say, these are just my observations (reading something on Bitcoin roughly once a day for the past 4+ years).  I'm happy to accept corrections and provide some citations on request.

I think staying away from bit might be a good idea as it is a commonly used term in other places.

100 Sats or Satoshis isnt a bad word or 100 Micro Bits

common names that sound like slang/ normal words. work. trying to be scientific by going the milli/micro route causes confusion as that involves alot of decimals.

a bottom up approach is better with common names from 1sat - 100 sat - 10,000 sat going up to bitcoin is simple.

and i have seen a few people shout out centoshi.. umm thats a 100th of 1 satoshi(0.01sat), not 100 sat. so just to keep the scientific/math community happy, a HECToshi is 100sats, although it still sounds ugly(sound you make coughing up mucus)

Centoshi sounds like a joke. Bitcent is a good term.

Franky is right, I cannot remember the last time someone called a ten pound note "ten pounds". It's always 10 quid, or tenner, or Pavarotti (cause he's a tenor, tenner...get it?).  And...Plenty of Japanese tourist over here, not a problem.

Centoshi ! That's it - catchy and sophisticated at the same time ! You have nailed it man !!! This is it !

Jimmy Zed

You don't see the point so you attack? How about doing a bit of thinking first next time?

oh, and

I vote for 1 bit or 1 Finney...

I was talking about linguistics, not minting. You may re-read my post.


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.

Correct.


I want to have your crystal ball!!
How can you be so sure about what the bitcoin price is doing in ten years??


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.




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.


This isn't reddit. Pointless posts aren't getting upvoted here.

Maybe you want to contribute something to the discussion instead?

It is a well known term among a small circle of hardcore crypto users, probably a few hundred people or less. You need a reality check.

Jimmy Zed

Bits

“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.

microbit is kinda cool to hear. 

Exactly. And that is why it is so easy to use it in everyday language. Than again this is not universal - I have seen bill nicknames mostly used in the US. This is what makes the previous poster's logic flawed. We need something plain and simple, not micro bits or ultra micro bits and whatever. Keep it plain and simple.