Re: How much is 1 bit?

Having two decimal points is something a lot of financial software has come to expect

http://blog.bitpay.com/2014/05/02/bitpay-bitcoin-and-where-to-put-that-decimal-point.html

A bit is a micro-bitcoin. This leaves two decimal places...

From link above:

"Fundamentally, the goal is to move to micro-bitcoins (uBTC, bits). This is most compatible with existing financial software."

I thought it was settled 3 years ago that the "cute" name for 1µBTC is the "Mike". "Bit" makes me think Satoshi, since that is the base-unit that one bit represents.

I have no problem with BitPay trying to popularize 1µBTC as the most common unit for accounting. However, their choice of short name leaves something to be desired.

this Mike or STFU

bit is not unambigious and counter-intuitive as i have been repeatedly saying and is proven time and time again.

a bit could mean:
1/8th dollar
1 satoshi
100 satoshi
1 million satoshi
various other objects

Mike (short for micro = 1/1.000.000) is just like cent (short for centi = 1/100)