Millibit
The name chosen by popular vote in poll on the Bitcoin forum to represent the SI unit of 0.001 bitcoins (BTCs).
Examples
- One thousand (1000) milliBits refers to 1 bitcoin or 1 BTC.
- Twenty seven milliBits refers to 0.027 bitcoins, or 0.027 BTC.
- 1.375 BTC may be referred to as one bitcoin and three hundred seventy-five (375) milliBits.
The poll was announced on May 14, 2011 to come to an agreement of a more commonly used name[1]. With the market exchange rate nearing $10 USD per BTC, a name for the sub-bitcoin unit was needed.
A milli is the International System of Units (SI) prefix representing one thousandth (1/1000th)[2].
