I have a rather off-beat suggestion. Perhaps decimal was not satoshi's
intention.
In old English money 1 guinea is 21 shillings. I wonder if 1 million guineas is
more or less the total number of bitcoins = 21 million shillings. There was
also the notion of bits (two bob bits = 1 florin = 2 shillings). I quite like
the idea as it's absolutely not expected.
Old English money is a funny mix of decimal and imperial (base12) measures but
may have some interesting properties, one of which would be to have multiple
names for overlapping "layers" not just the 2 or 3 that has been mentioned here
and elsewhere.
I wonder in the long run if this will not just naturally occur anyway.
Regards
Chris D'Costa
Email: chris_dco...@meek.io
Sent from my iPhone
> On 23 Apr 2014, at 11:56, Tamas Blummer <ta...@bitsofproof.com> wrote:
>
> The problem is µBTC that bit tries to solve.
>
> BTC, mBTC and µBTC are just too similiar for enyone else than engineers. The
> mixed use of them leads to misunderstanding.
> I think adoption would benefit of a single unit with easily remembered and
> associated name that has no smaller than 1/100 fractions called satoshis.
>
> Regards,
>
> Tamás Blummer
> Founder, CEO
> <email.png>
> http://bitsofproof.com
>
>> On 23.04.2014, at 11:44, Danny Hamilton <danny.hamil...@gmail.com> wrote:
>>
>> It seems to me that xbit is no more distinct or intuitive than µbit. In
>> either case it's simply an arbitrary character in front of the word "bit".
>> Of course, for the majority of the world familiar with SI, the µ actually
>> adds additional meaning that is lost with the x.
>>
>> Furthermore, given the multiple concerns voiced about the overuse of the
>> word "bit", µBTC seems to solve the problem.
>>
>> Since we are talking about how it would be displayed in software, we don't
>> need to be concerned about how people will pronounce it, or what the
>> nickname will be. If most of the wallets start displaying amounts in µBTC
>> quantities, it will be obvious that a µBTC is a different magnitude than a
>> BTC. Nobody is going to look at their 100,000 µBTC balance and think they
>> have 100,000 BTC. People will immediately make the mental adjustment to the
>> new order of magnitude even if they don't specifically know that µ means
>> micro, or that micro means 1e-6.
>>
>> Nicknames will form organically (much like buck, fin, large, k, grand, and
>> benny for U.S. currency), I've always been partial to milly (or millie) and
>> mike (or micky) as nicknames for mBTC and µBTC. I've personally used those
>> when speaking with people, and they seem to catch on pretty quickly.
>>
>> As has already been mentioned, you're going to be hard pressed to find
>> software that denotes U.S. balances in "bucks". There isn't any good reason
>> to be coding a nickname like "bit", "xbit", or "mike" into wallet software.
>>
>> - Danny Hamilton
>>
>>
>>> On Tue, Apr 22, 2014 at 8:51 AM, Aaron Axvig <aa...@axvigs.com> wrote:
>>> That piece of horse equipment is called a bit in the US too. But the point
>>> stands: most people don't use "bit" on a daily basis other than referring to
>>> "a little bit of <something>."
>>>
>>> -----Original Message-----
>>> From: Wladimir [mailto:laa...@gmail.com]
>>> Sent: Sunday, April 20, 2014 11:27 AM
>>> To: Chris Pacia
>>> Cc: Bitcoin Dev
>>> Subject: Re: [Bitcoin-development] "bits": Unit of account
>>>
>>> On Sun, Apr 20, 2014 at 6:19 PM, Chris Pacia <ctpa...@gmail.com> wrote:
>>> > The term bit is really only overloaded for those who are techy. 95% of
>>> > the population never uses the term bit in their daily lives and I
>>> > doubt most could even name one use of the term.
>>> > Plus bit used to be a unit of money way back when, so this is kind of
>>> > reclaiming it. I think it's a great fit.
>>>
>>> That's a very anglocentric way of thinking.
>>>
>>> Here in the Netherlands, a "bit" is something you put in a horses's mouth.
>>> It's also used as imported word (in the information sense).
>>> We've never used the term for money.
>>>
>>> Wladimir
>>>
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