"well, if 1 bit means 1 bitcoin, and 1 millionth of a bitcoin, and a 100th of a millionth of a bitcoin, and 12.5 cents, and 1/8th of a bitcoin, than we start having a problem."
Your reasoning skills are terrible.
1 bit does not mean any of the things that you just said EXCEPT 1 millionth of a bitcoin.
I am perfectly willing to listen to reasonable arguments but I haven't heard a single one come from you.
that's what you say, but i have seen others swearing they would be that much, and
https://en.wikipedia.org/wiki/Bit_(money) proves a bit is actually already 12.5 cents.
just because you think a bit means 1 millionth of a bitcoin does not make it so.
There is clearly the potential for confusion, but I very much doubt it would be that serious.
Also according to Wikipedia a "dime" can be 10 cents or $10 and people seem to cope OK.
I personally think it is long past the time when anyone can
decide what to call a given fraction of a bitcoin.
Common usage will provide the answer (or more likely answers).