Zib is an alternate denominational unit for Bitcoin.
A zib is one-millionth of a bitcoin.
A zib is equivalent to a “microbitcoin” (“µBTC” or sometimes “mics”/”mikes”). In the base ‘satoshi’ units of Bitcoin, one zib is 100 satoshis.
The word zibcoin can be considered the full name of the zib unit, used to emphasize the cryptocoin nature of the value.
1 bitcoin = 1,000,000 zib = 100,000,000 satoshi 0.000001 bitcoin = 1 zib = 100 satoshi 0.00000001 bitcoin = 0.01 zib = 1 satoshi
The zib unit makes common daily transactional amounts - the cost of a meal, a ride, a bag of groceries – into whole countable numbers, now and for the foreseeable future. In bitcoin today, these values are already awkwardly tiny fractional values: long decimals unfamiliar to consumers.
Zib avoids triggering a layperson’s confusion over the milli-/micro- difference, or how the abbreviation prefix µ (greek mu) should be used or said.
Zibcoin remains suggestive of ‘bitcoin’, in form and sound, but is different enough to be easily distinguished when read or heard.
As the short and casual ‘zib’, it invites usage as a noun…
“I’ll bring you a pizza for 10,000 zibs”
…or a verb…
“when are you going to zib me 10,000 for that pizza Friday night?”
Compared to existing English words like ‘cent’ or ‘bit’, ‘zib’ brings no conflicting prior meanings in the money or digital contexts. It can acquire a distinctive meaning that is no more nor less than we choose now, through usage.
The zibcoin unit lends itself to a single-character abbreviation, ‘Z’, that is used in relation to very few terrestrial currencies. ‘ZBC’ also works well as an abbreviation (much like ‘BTC’).
There’s already a currency-suggestive Unicode character, Ƶ, the Z with stroke. This character is unused for any circulating terrestrial currency – but fittingly has been used in futuristic-fiction.
Placing several popular notations and abbreviations together:
Ƶ1 = 1 ZBC = 1 zib = 1 µBTC = 0.000001 BTC = ฿0.000001
A medium-sized (320x360) “Z-with-slash” image: