Topic: When quoting small amounts of bitcoin, how do you call 100 satoshis? - page 8. (Read 8405 times)
October 06, 2014, 07:36:19 PM
I don't really get this short name stuff, I prefer to say 100 sats.
October 06, 2014, 06:57:56 PM
i think the well known term is 1 bit for 100 satoshi
Not many people agree with that.
There is a poll on these forums where the "bit" won by a long shot. Let me track it down...
Here is one of them... https://bitcointalksearch.org/topic/what-should-100-satoshis-be-called-make-sure-to-vote-for-two-choices-594575
And another...https://bitcointalksearch.org/topic/what-should-100-satoshis-be-called-593705
Can't find the best poll. It had many choices and bit was the favorite. Can anyone find it?
October 06, 2014, 06:56:55 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. 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".
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)
October 06, 2014, 06:44:01 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.
"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
October 06, 2014, 05:58:43 PM
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)
For example:
35 µBTC (0.000 035 BTC)
Good point!
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.
"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"
October 06, 2014, 05:47:32 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.
"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?
October 06, 2014, 04:48:45 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?
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.
"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.
October 06, 2014, 04:29:05 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.
October 06, 2014, 04:28:01 PM
i think the well known term is 1 bit for 100 satoshi
Not many people agree with that.
October 06, 2014, 04:11:26 PM
i think the well known term is 1 bit for 100 satoshi
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 (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".
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".
October 06, 2014, 02:11:20 PM
"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.
October 06, 2014, 12:44:30 PM
"Point Oh Oh Oh Oh Oh One Oh Oh Bee Tee Cee"
Is that a song?
October 06, 2014, 12:32:01 PM
vote for 100 satoshi, everyone already know satoshi 
October 06, 2014, 12:12:37 PM
calling 1bit is easy then other options
October 06, 2014, 12:10:30 PM
One Finney.
October 06, 2014, 12:08:15 PM
Satoshi.. or maybe dust
October 06, 2014, 11:52:35 AM
"Point Oh Oh Oh Oh Oh One Oh Oh Bee Tee Cee"
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)
For example:
35 µBTC (0.000 035 BTC)
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