When quoting small amounts of bitcoin, how do you call 100 satoshis? - page 8.

ANTIcentralized

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Quote from: dserrano5 on October 06, 2014, 03:06:14 PM

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
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".

This is probably one of the better answers on the thread, however I do think it still complicates things.

I personally think satoshis should be used for up to 1k satashis at which point you should use the decimal number worth of bitcoin. For example .0001 BTC is "point oh oh oh one". There is somewhat of an argument to use bitcents when dealing in amounts divisible by .01 (but not above 1 btc)

dogtor

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Quote from: rgenito on October 06, 2014, 04:40:27 PM

Your average person should refer to it as "1 bit"; here's reasoning:

"100 satoshi" -- 6 syllables, sounds foreign to the english speaker.

"1 bit" -- 2 syllables, sounds like a small amount (which "a bit" is considered a small amount in the english language).

"1 microbitcoin" -- 5 syllables (only useful for starting or ending a haiku), and your average person (sadly) has no idea what unit size a "micro" is.

Here's the reasoning they shouldn't use 'bit' ------> https://en.wikipedia.org/wiki/Bit

A bit is the basic unit of information in computing and digital communications.

and 'bit' is an International Electrotechnical Commission's standard unit -------> https://en.wikipedia.org/wiki/IEC_60027

rgenito

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Quote from: teukon on October 06, 2014, 11:49:53 AM

Whatever unit you decide to adopt, I recommend appending the price in bitcoins in paretheses, perhaps in grey text or a smaller font. If you find this too cluttered you might consider a tool-tip.

For example:
35 µBTC (0.000 035 BTC)

Good point!

Quote from: R2D221 on October 06, 2014, 05:47:32 PM

Quote from: rgenito on October 06, 2014, 04:40:27 PM

Your average person should refer to it as "1 bit"; here's reasoning:

"100 satoshi" -- 6 syllables, sounds foreign to the english speaker.

"1 bit" -- 2 syllables, sounds like a small amount (which "a bit" is considered a small amount in the english language).

"1 microbitcoin" -- 5 syllables (only useful for starting or ending a haiku), and your average person (sadly) has no idea what unit size a "micro" is.

What's the reasoning of using “bits” for 0.000001, rather than 0.00001 or 0.0000001?

Although not perfect, I know this article summed it up pretty well. Basically, the idea is to have 2 digits "past the decimal point"; something that most people are already familiar. So if 1 bit ever becomes worth 1 USD (or even 0.1 bits becomes worth 1 USD), people can work with a currency unit that they are somewhat familiar with. I'm assuming that most currencies use 2 digits after the decimal point for real-world transactions, but I honestly don't know if this is the case. Sounds good

Decide for yourself:

http://www.coindesk.com/breaking-down-btc-bit-by-bit/

I'm a happy user of "bits", and it's making sense to me to think of exchange rates as "I can get 2,500 bits for $1"

R2D221

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Quote from: rgenito on October 06, 2014, 04:40:27 PM

Your average person should refer to it as "1 bit"; here's reasoning:

"100 satoshi" -- 6 syllables, sounds foreign to the english speaker.

"1 bit" -- 2 syllables, sounds like a small amount (which "a bit" is considered a small amount in the english language).

"1 microbitcoin" -- 5 syllables (only useful for starting or ending a haiku), and your average person (sadly) has no idea what unit size a "micro" is.

What's the reasoning of using “bits” for 0.000001, rather than 0.00001 or 0.0000001?

teukon

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Quote from: h4xx0r on October 06, 2014, 04:29:05 PM

Never heard the term myself. I did like a previous posters suggestion for referring to micro-btc as "mikes". kinda catchy.

"mikes" as a nickname for microbitcoins is a fairly old suggestion. Check out this nomenclature discussion from Feb 2011?

rgenito

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Your average person should refer to it as "1 bit"; here's reasoning:

"100 satoshi" -- 6 syllables, sounds foreign to the english speaker.

"1 bit" -- 2 syllables, sounds like a small amount (which "a bit" is considered a small amount in the english language).

"1 microbitcoin" -- 5 syllables (only useful for starting or ending a haiku), and your average person (sadly) has no idea what unit size a "micro" is.

h4xx0r

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Quote from: R2D221 on October 06, 2014, 04:28:01 PM

Quote from: malaimult on October 06, 2014, 04:11:26 PM

i think the well known term is 1 bit for 100 satoshi

Not many people agree with that.

Never heard the term myself. I did like a previous posters suggestion for referring to micro-btc as "mikes". kinda catchy.

R2D221

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Quote from: malaimult on October 06, 2014, 04:11:26 PM

i think the well known term is 1 bit for 100 satoshi

Not many people agree with that.

malaimult

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i think the well known term is 1 bit for 100 satoshi

dserrano5

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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".

h4xx0r

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Quote from: R2D221 on October 06, 2014, 12:44:30 PM

Quote from: h4xx0r on October 06, 2014, 11:52:35 AM

"Point Oh Oh Oh Oh Oh One Oh Oh Bee Tee Cee"

Is that a song?

Nah it was just phonetics. Slow day at the office. Typical monday for me. I write a bunch of code between 6 am and 10 am while i'm on my coffee high and then i have fulfilled my daily quota so i just take the day off and surf.

R2D221

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Quote from: h4xx0r on October 06, 2014, 11:52:35 AM

"Point Oh Oh Oh Oh Oh One Oh Oh Bee Tee Cee"

Is that a song?

ikydesu

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vote for 100 satoshi, everyone already know satoshi Cheesy

Tstar

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calling 1bit is easy then other options

FeedbackLoop

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One Finney.

llanillo

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Satoshi.. or maybe dust

h4xx0r

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"Point Oh Oh Oh Oh Oh One Oh Oh Bee Tee Cee"

teukon

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Whatever unit you decide to adopt, I recommend appending the price in bitcoins in paretheses, perhaps in grey text or a smaller font. If you find this too cluttered you might consider a tool-tip.

For example:
35 µBTC (0.000 035 BTC)

Outlander

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Never use mBTC or µBTC , I prefer use satoshi, and when 100k satoshi and up I always use 0.001 BTC.

LMGTFY

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Your customers will have a far better idea than me or you. I'd suggest providing a mechanism for them to choose what they're comfortable with - just like eCommerce sites offering users a choice of currency - and use a sensible default (either BTC or - probably better for small amounts - Satoshi).

Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? - page 8. (Read 8445 times)