I really like the XBT idea. It makes a lot of sense to match the ISO currency symbol (though the ISO guys will have to adjust the way they've defined the "XBT"). And I do agree that going right to uBTC and skipping mBTC makes sense, too.

I'd prefer them not be called "micro bitcoins." I really want to call them "microbes" ... but I'm not sure that has the right flavor for money transfer :) "Please give me 872 microbes". Perhaps we just call them "bits." Or even "micros" or "microbits". As I write this, I realize there's probably 872 threads on the forums about this already...

But we would want to promote a consistent term, to avoid further confusion when people use different names for the new unit. It's not guaranteed to be successful, but if we pick a good name, and build it into the interface on the first release pushing the new unit, we have a chance to make the transition even easier.

On 11/14/2013 05:31 PM, Mark Friedenbach wrote:

Whoops, this was meant for the list:

Drawing on analogues from national currencies, it's also possible to
alleviate the confusion by switching currency symbols, e.g. to XBT or
NBC (New Bitcoin).

1 XBC == 1 uBTC

On 11/14/13 2:03 PM, Jeff Garzik wrote:
> Go straight to uBTC. Humans and existing computer systems handle
> numbers to the left of the decimals just fine (HK Dollars, Yen).
> The opposite is untrue (QuickBooks really does not like 3+ decimal
> places).

> - Jeff

> On Nov 14, 2013 4:40 PM, "Mark Friedenbach" <mark@monetize.io
> <mailto:mark@monetize.io>> wrote:

> For this reason I'm in favor of skipping mBTC and moving straight
> to uBTC. Having eight, or even five decimal places is not intuitive
> to the average user. Two decimal places is becoming standard for
> new national currencies, and we wouldn't be too far from human
> scale everyday numbers: 25.00uBTC ~= $0.01 currently. And I don't
> think very many people on this list would consider bitcoin
> overvalued in the long term perspective.

> Better to go through a confusing renumbering only once.

> Mark

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