[TheAntipodean]

I believe the preferred naming for 0.01 BTC is a Satoshi [1]. They were named such to honour the author of the original paper.

[1] Third sentence: http://en.wikipedia.org/wiki/Bitcoin

[tetrad]

0.01 BTC is in fact a bitcent, and a Satoshi is much smaller (0.00000001 BTC)

https://en.bitcoin.it/wiki/FAQ#What_do_I_call_the_various_de...

[TheAntipodean]

Thank you for clarifying that. My mistake!

Round two!

[redthrowaway]

A Satoshi is defined as 10 ^ -8 BTC. Actually, it's more accurate to say that a Bitcoin is defined as 10^8 Satoshis, as the Satoshi is the actual atomic unit of exchange.

[TheAntipodean]

Ahh thank you for clarifying that. My mistake.

[anateus]

The sidebar on the right mentions that a Satoshi is actually 0.00000001 BTC

[TheAntipodean]

Thank you. Round 3 =]