Wait... so 522 bits equates to 0.00363 Bitcoin?!  WTF?  Where does the factor of 6.9540229885057471264367816091954 come from?
 That doesn't clarify things at all.
  BIP denied!

 

1 bit equals 1/1,000,000 bitcoin, or 100 Satoshis. It is a much more manageable denomination. The numbers OP gave were just an example. 522 bits is equal to 0.000522 bitcoin.

Given that a common misconception amongst people who are unfamiliar with crypto is that you have to buy a whole bitcoin, changing the way we talk from "$8,000 for a bitcoin" to "80 cents for 100 bits" could also help adoption.

Great. My sarcasm detector was on and functioning well but I wasn't 100% sure. Edited the main post eitherway to prevent future confusion. LOL

Sure both "millie" and "mikes" are quite easy to remember, but it just simply doesn't sound "right" in my opinion. Using a common person's name as a currency denomination seems weird, but that's just me though. Personally, I don't even like using the "satoshi" denomination either, but shortening it down to "sats" seems to sound more natural as a currency terminology.

The thing is, we're not just talking about writing or typing things down here. We're also talking about using it in person; since bitcoin shouldn't be limited to online transactions anyway, what about using BTC on physical stores? Saying "0.000534 Bitcoin" for a $4 Starbucks coffee(as with today's prices) doesn't sound too natural to me. Instead, saying "534 bits" sounds more natural and easier to say personally; like I said on my previous replies here in this topic.

You mean like:

Bettys
Bordens
Joeys
Winstons
Bobs
Pavarottis
Zacks
Bradmans
Jacksons
Benjamins
Hamiltons
Lincolns
and Satoshis



And that's just in the english speaking areas (Canada, England, Australia, and the United States)


Understood.  Use whatever you like.  As long as it is clear what you mean to the person you are talking to, it doesn't really matter. Words/names only exist so that we can communicate ideas and concepts.

Yep. Pretty much very single one of them.  I don't know though, we're probably just too used to terms like "pesos", "dollars", "rupees", and such that using person names for a currency sounds funny in my opinion. I mean, it just simply doesn't sound right to my ear. Using names sounds like memes to me. LOL

I have to admit that i find it hard to understand how much bitcoins i have (because i still don't own 1btc but a fraction of). When i started bitcoin, i was doing faucets. With faucets you get satoshis. So the satoshis i get i convert it to bits. But people are using the decimals for bitcoin, so i decided to quit faucets because it would take me a little too long to get 1btc or even just closer if i count from satoshis to bits . If we count bits itd be easier to communicate to how much we owe someone or how much we earned from a job rather than counting how many zeroes there are after the point or period. So id have to agree at using bits. This has to be universal but i think that would be hard to apply globally.