100 pennies in a $1.
100,000,000 sats in a #bitcoin
Does bitcoin have other units like nickels, dimes and quarters? Maybe it’s time to create those units of measurement?
Discussion
It does. The second most common one is “bits” which is 100 sats (or 1/1,000,000th of a Bitcoin)
It’s promoted a lot by Adam Back, who likes it because it would make sats like the penny and bits the dollar, and would make prices appear closer to how they appear in America today.
This is the first I’ve heard of it. I can definitely get down with it.
There’s about 5 more different denominations, including units which are smaller than sats and exist only on the lightning network.
I personally only use full Bitcoin or sats though. Anything else is generally way too confusing for newcomers and there’s no reason why prices can’t be displayed as 0.00056778 or 56,778. Making a different category where it’s displayed as 567.78 just feels weird.