Re: When quoting small amounts of bitcoin, how do you call 100 satoshis?
1 bit = 100 satoshi.
Is "bit" the official term?
No, but it does appear to have some of the big players behind it.
- A June 9, 2011 reference to 1µBTC being equal to 1 bit
- Reddit post that appears to have started it all (ridiculing the Metric system)
- Bitpay backs the 'bits' term (while explaining why the 100 Satoshi unit is important)
- Coinbase backs the 'bits' term (adding optional support)
It is also apparent that Americans find the Metric system confusing for some reason. Though in grade 2, it was taught with props: 10 cubes make a stick of 10, 10 sticks make a sheet of 100. 10 sheets of 100 make a cube of 1000. Actually that is not explaining the Metric system per se: that was explaining how Arabic numerals work. I think all the metric names for orders of magnitude were covered in grade 3.
Edit: removed duplicate 2011 discussion link.
Good point phillipsjk...looks like bits "won"
As teukon mentioned, Gavin (senior bitcoin developer) also adopted "bits". Other services I have found that entirely use "bits" as the smaller unit:http://gambit.com -- tons of fun games, play for bits.
http://breadwallet.com -- best iOS wallet, hands down.
https://wallofcoins.com -- get cash for your bitcoin fast.
Good closing for this post, especially with all of the Bitcoin peeps understanding what "bits" is