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So dollars and cents aren’t confusing but bitcoin and sats are?! Gimme a break 🀣 I would rather have a BIP proposal that deals with fixing Bitcoin’s privacy than this retarded gabish. nevent1qqs8756kpq6h0vawhfr3csfdfgq5fk66ng77dt8z96znmadlfczjfdgpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5d0htx9
"Reduce confusion"?!? πŸ˜‚ If we were to do that, it should have been when 100M base units was not valued at $100k, but at $1k. A smaller user base would be more accepting and easier to inform, especially because they were not normies. I agree, however, that the high value of the base unit makes it a challenge for the uninitiated, not knowing that you can trade in tiny bits, not only in whole coins. Generally speaking, coins are not meant to be broken up, so there's a verbal connotation to the whole unit being indivisible. Sats are easy enough, though, I think. We can also use mili- and micro- to denote other denominations as we need.
Very expensive rebranding... More than 20,000 blogs would have to change this unit name. Impossible to do in YouTube videos and courses. Every Bitcoin company would have to restructure its keywords. Again, impossible to make changes in books written on Bitcoin. This change will create confusion in the non-tech community and potentially the first polarization in the Bitcoin community. We shouldn't do this at this stage; giving a new name to a 15-year-old son isn't a clever thing to do. Bitcoin is 15 years old now. Let's make Sats a standard. This also keeps the legacy of Satoshi alive, which will connect with the masses as a courageous story.
Remember how Jordan Petersen became famous? Some authority tried to make it a crime to NOT address someone by their preferred pronouns. He called BS, went viral and never stopped. This is the same woke agenda. You want to implement a policy to force us to name change? What happened to emergent and discoverable by the people? nevent1qqs8756kpq6h0vawhfr3csfdfgq5fk66ng77dt8z96znmadlfczjfdgpyfmhxue69uhkummnw3ez6an9wf5kv6t9vsh8wetvd3hhyer9wghxuet5d0htx9
As vezes eu acho que uma punheta pode evitar muitos problemas, desde filhos indesejados atΓ© mente vazia. Isso nΓ£o faz sentido, pros nodes jΓ‘ Γ© assim, sΓ³ existem satoshis, nΓ£o existem nΓΊmeros de ponto flutuante nos softwares de Bitcoin. 1 Bitcoin Γ© uma unidade abstrata que vale 100m satoshis, mas isso sΓ³ existe nas wallets Γ© a forma como vocΓͺ representa 2345 Satoshis com 2.345. NΓ£o tem porque mudar essa representação, nΓ£o vejo nenhum necessidade, sΓ³ tempo livre e mente vazia demais.
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BIP177 proposes redefining Bitcoin's base unit by making 1 satoshi = 1 bitcoin. Currently, 1 bitcoin = 100,000,000 satoshis. This change aims to simplify transactions and reduce confusion.
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people have compared things like tailored suits, life stock and similar things to what ever they saved in for a long time. e.g. a suit would be 0.0243 B 2,430,000 sats Meaning many things people will buy have less symbols up until another 100x Let’s wait until the user base and adoption has at least 10x before trying to confuse everyone
the history of US dollar sign πŸ’² is interesting in this context, as its most likely origin has nothing to do with the American dollar and much more likely with the Spanish pesos. This one was widely known in the general population and there adoption (So no greater big brain logic, just giving the common man what he wants) Perplexity: The dollar sign ($) is used in the United States because, when the U.S. established its own currency after independence, it modeled the new dollar on the widely used Spanish dollar (or peso), which had been the most common currency in the American colonies for over a century. The Spanish dollar’s symbol and value system were already deeply familiar to Americans, merchants, and the broader economy.
There is no confusion. The only confusion it would bring about is no-coiners believing the supply increased and thus slow the process of adoptions. You dont need to teach people that millimeters are different than meters or inches from miles. It's such a non-issue idk why people are even talking about it. The decimal point is fine exactly where it is.
The US dollar has cents, the British pound has pence... The smallest unit of currency should have a different name, and the commonly used pricing units can actually have aliases. I think it is right to price Bitcoin in satoshis, and it should not be changed randomly. However, you can consider renaming the unit alias for 100 satoshis.
What it aims to do is not relevant what it would do is. This is a stupid thing and the ONLY reason it is even being discussed is because @jack likes it. Jack is wrong here, history will show it. Jack wants bitcoin to be spent and has done some absolutely impressive but wrong mental gymnastics to support that the term sats is why people don't spend bitcoin. It is hard to understand how a man as smart as Dorsey can be this wrong on something this simple.
British where redefining feet and inches to match the new kings limbs, they also created miles, foot, yard, etc, because they had to invent new names for different lengths. Much more useful was international systems of units which stoped renaming units and just added prefix like gram, kilogram, miligram. Byte, Megabyte, Gigabyte, terabyte. Now you can have BTC, milibtc, micro-btc, etc. You can call data as bitsats If you want to make it sound familiar. But renaming SATs to BTC is like renaming milimiter to kilometer. This name change is not backwards compatible. Imagine an accounting system made in 2030 talking to one made in 2018 to Check their Ballance. What will happen when you mess you the units in the accounting systems and different systems try to communicate: Metric vs Imperial Units: How NASA lost a 327 Million Dollar Mission to Mars
Everyday Astronaut
Metric vs Imperial Units: How NASA lost a 327 Million Dollar Mission to Mars
Imagine a simple conversion error caused a multi-million dollar mission to go puff! We explore how the Mars Climate Orbiter was lost in 1999.