Update - entry period had ended. Voting soon.
tldr;
In the comments, leave a suggested name for the smallest bit of an HBIT and you're entered to win.
@Hivebits has been inspired and somewhat modeled after Bitcoin, but it exists here on the Hive blockchain. Both have 21 million units, sliced down to eight decimals. Following granddaddy Bitcoin's lead, I'd like to have a name for the smallest HBIT unit.
Bitcoin can be sliced down to eight decimals and has the satoshi (0.00000001 BTC) as the smallest unit. I've been sorta tracking the satoshi on the "Satoshi Bitcoin Converter" for a while now (bitcointalk.org post). Satoshi Day will get here I'm convinced. (Yes, even with the current bear market, I'm long term very bullish crypto.)
The question here and now, is:
What should the smallest Hivebits (HBIT) unit be named?
Contest to get a name
HBIT ain't BTC, I understand that. And a full unit of HBIT isn't worth much, let alone the smallest unit, I understand that. Still, let's make a little contest out of answering this question. Why? Let's do it for the sheer fun of it. Talk about use cases...fun is an important use case! Let's also do it to find out who will become the next HBIT legend. (But, mostly for the fun.)
:)
Prior HBIT legends: @wesphilbin had the first HBIT ever mined | @horstman5 mined the first HBIT on the official mine: @hivebits.mine | @mizuosemla and @thatgermandude grabbed the first HBIT NFT | The following users became the first whales: @zottone444 @british-bulldog @bashadow @happyme @mizuosemla @thatgermandue and @isag
We're looking for the next HBIT legend now. :)
How to enter
Suggest a name for the smallest Hivebits/HBIT unit (0.00000001 HBIT) in the comments below. Something like:
Suggested name: xxxxxx
Reason: I suggest xxxxxx because...
Any reason/explanation isn't required, but welcome and encouraged. It's encouraged because, eventually, we'll vote on the names. Some context might help get votes. The vote winner names it.
I'm thinking on my own idea/suggestion, but I'll hold off on it for now. (I really don't have one yet, just general ideas.)
Voting
I've been thinking on this. Voting could be done as simply as everyone who votes gets one vote. But, I wanted it tied to a person's HBIT holdings. Someone who's put effort into mining or invested into gathering more HBIT should have more of a say in this. At least that's my view. That would sort of be close to Proof-of-Stake (POS) blockchains, or DPOS like Hive. So, my initial thought was to make it one vote for every HBIT you hold.
The more I thought, I wanted to alter that a bit. One thing I've tried to do is make Hivebits very simple for newcomers: you have a Hive account, you can mine right now. An HBIT newcomer might have only, say, 3 Hivebits. That 3-vote would really amount to nothing votewise when compared to HBIT whales who hold in the hundreds.
You can check the richlist here and see where you and others compare.
Here's what I'm thinking regarding voting, call it "voting power."
- You must have a Hive account/username to vote.
- Everyone gets 100 voting power minimum. Even people who hold zero HBIT.
- Your HBIT holding amount will be added to 100 to determine your voting power.
So, if Sally holds 3 HBIT, her voting power is: 100 + 3 = 103
By granting 100 up front, Sally's vote matters a little bit (whereas with only 3, it really didn't). A whale's vote still matters more, and that's what I want, but Sally's vote is not entirely worthless.
This method will be a little bit of math and research for me to calculate votes, but I think I can handle it.
Since we're not to the voting stage yet, I'm open to discussion on this "voting power" formula. Maybe it will change based on discussion, but this is my current thinking.
When voting?
Not sure yet, but this summer some time is the goal. Let's focus on getting suggestions first, then announce a voting period.
Prize
No contest is complete without a prize.
The official HBIT mine at @hivebits.mine has been accruing some HBIT (ci. 86 as I write, but you can check the current wallet amount). I said I'd consider those tokens as my own, and I do, and I'm now putting them to use. The prize will be:
Prize: 1/2 of the HBIT that the @hivebits.mine account holds when the decision is made for a name.
Why 1/2? Because I have another follow-up "contest" in mind and the other half of the HBIT will be the prize reward for that contest.
Let's go!
Fine print: Any whines, gripes, complaints, screw-ups or disputes, I decide.
-written by @crrdlx
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Quarktonium
A very tiny particle, I think.
I think the correct name would be then Quarkonium. And consists of a Quark and an AntiQuark :)
Suggested name: EIBIT
Suggested name: Huny
Reason: A few reasons: (1) obvious Hive connection, (2) you can have 1 tiny drop of honey, (3) sweet yet never spoils, (4) I like a misspelled word to make it unique (e.g., I think it's helped LUV being a misspelled version of love because it distinguishes it.)
Irllylike Huny 🍯 !love
!hivebits
@bardobrujo(1/1) gave you LUV.
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I instantly had the same idea as @arthursiq5 ("Bitoshi"). Congrats to him on being faster to comment.
This leaves me with the need to find something else if I want to participate in your contest and my guess is that "Shitobi" or "Shitobit" won't make it.
What about "Crrdlxshi"?
Does it need any explanation?
Crrdlxshi?
Edit: I understand now 🤦♂️
A speck
Suggestion Plancbit
Reason The Planck is the smallest measurement ever recorded in history and to say sat could be nicknamed planks "wood" be the chefs kiss to it :P
Suggested name: Hitoshi
Reason: I suggest Hitoshi because it's similar to Satoshi, but with HI which represents Hive. Which makes it easy for folks to understand it is a fractional amount or something bigger.
I would call it quark
because it is the smallest known particle
Suggested name: Hex
Reason: A hive is made up of hexagonal cells, so that is the smallest element
Hive Points or HPts
The name would still be related to Hive. HBits for big parts, HPts for small parts.
What about a CR? ;)
Bitoshi, because "oshi" is a common name part for smallest part of a token, like Satoshi and Litoshi, and it's a simple and small name, easy to remember
(Bit) is a binary,so smallest 8 decimal Hibits should start with 1 "decibit*,2 decibits,3 decibits. Pronounced 'desi-bit'.pretty cool i would say .well maybe it just me though.
Byte. Because it is the smallest unit in my understanding of binary as far as character strings.
the name should be Ibit , half the H and after H in the alphabet
!hivebits
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<center.Contest: name the smallest HBIT bit. Info here.
8bit will be awesome
😉👏 !hivebits
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Contest: name the smallest HBIT bit. Info here.
Hotbits, or Honeybits
excited to learn more about hbit on your page
Suggested name: tinylittleBits
Reason: because the smallest unit will be tiny little HBits but that is too many words
if i an allowed to make a second suggestion then here it is. if 1 is the limit then anybody else can feel free to suggest this
Suggested name: BEEPOLLEN
Reason: I suggest BEEPOLLEN because the grains of pollen collected by bees are very tiny. the bees don't eat it directly but the foraging bees bring it to the hive and pass it on to the worker bees who in turn secrete substances which ferment and break down the pollen. then they add a little nectar to turn it into bee pollen. this bee pollen is the primary source of food for the hive
Hmm, how about Hbee? Since a hive is full of them.
Suggested name: microbit(s)
Reason: I suggest microbit(s) because I wanted to keep it simple but yet use an actual unit of measurement. Everyone knows that a bit of something is a piece of that something, and that micro is a smaller measurement of that something hence microbit(s) a smaller measurement of a bit. Something simple and not super complex if that makes sense.
Suggestion: Hoshi
I've got to say, y'all are coming up with some clever names. I'm loving the suggestions.
Also, I forgot to write this on the voting: I'm thinking of allowing votes for multiple names. I want people who gave nominations to vote for your own suggestion and don't feel selfish doing so. But, I also like voting for others.
My thinking is to split your voting power among whomever you vote for. If your voting power is 150 and yout vote for 2 names, each gets 75 votes. If you vote for 3 names, each gets 50 votes. I'll flesh it out more come voting time.
!hivebits
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An "Itty Bit"
OR a "little bit".
Mmhmm. 😏
I would suggest microhbit! Thank you! !HBIT
Hi cpol, I see your suggestion for the smallest HBIT name, microhbit. I'm sorry, but the closing period was the 3rd and yours is timestamped on the 4th, so I can't include it. I realize this may be a time zone thing and that you may have actually done it the 3rd locally. And I know it wasn't over by much, but I need to go by the UTC timestamp. Due to the timestamp, I can't add it in the voting which is kind of a bummer. Sorry about this. I do appreciate your idea though. !LUV
@crrdlx(1/4) gave you LUV.
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It's OK, don't worry about it. Thanks for the !LUV
:)
After the voting on this, I plan to have a sort of follow up contest. Hopefully you can get into that one.
!LUV
Sweet! Thank you for the heads-up! !PGM !PIZZA
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@crrdlx(2/4) gave you LUV.
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@cpol(1/1) gave you LUV.
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