100 satoshis (no more than 2 digits after the decimal point) is the right unit size... but all variants of 'microbitcoin' are awkward names: "microbitcoin", "µBTC", "microbits", "crobits", "eubits", "mubits", "mics".
Unfortunately "bit" is also a problematic name. Some reasons are listed here:
http://zibcoin.org/faq#why-not-bits-to-mean-microbitcoinsThe best bet would be to make-up another distinctive one-syllable word that doesn't have any conflicting meanings inside the Bitcoin system.
My proposal is 'zib', chosen to be very similar to 'bit' usable in all the same places with even-better options for abbreviation and no meaning-collisions. More info is at:
http://zibcoin.org...and discussion thread....
https://bitcointalk.org/index.php?topic=529301