100 cents = 1 dollar
100m sats = 1 bitcoin
Right now 1,000 sats is roughly $1
There, I've explained it. Wasn't hard.
Discussion
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Now let's change sats to bitcoin.
Tell someone to go read any bitcoin book, podcast or writeup written anything before today. Have fun explaining how those bitcoins are worth 100m x more than these bitcoins.
Bonus, you'll still have to explain what a sat is.
that's the point. The billions of people using Bitcoin in the future won't do any of that. They see numbers on a screen related to Bitcoin and the thought will end there. Sats will be relegated to a fun, nickname phrase that gets used by the minority few of us who think its cool.
i can get behind this logic. if there's ever going to be a change to the naming, it needs to be soon. once a significant amount of people start actually interacting with Bitcoin it'll be too confusing.
Its already too late. We have ~16 years worth of literature and media using sats terminology and attributing a specific value to the term "bitcoin".
Changing that at this stage will significantly hamper current adoption. And drastically increase confusion and risk.
There is no future adoption if there is no present adoption.
Fair point. I think the unit bias problem can be pretty easily solved by more services adopting the sats standard.
I agree 0.00001453 BTC is annoying and difficult to understand.
1,453 sats is not.
Using sats does not fundamentally change the value of a "bitcoin". Changing sats to bitcoin fundamentally changes the value of a "bitcoin" and that's assuming there is consensus on the change. And even with consensus, that doesn't change the existing body of work. There are significant knock on effects.
Changing sats to bitcoin is missing the forest for the trees.
See this note
When we reach billions of people adoption, they will utilize whatever phrasing we use. Do we change things now, co fuse the shit out of everyone, right as we are on the cusp of global recognition and serious consideration?
Or do we demand a little bit of simple proof of work for people to learn?
This "change" obviously does not have consensus. Not everyone will convert at once. There will be a period of time when 1 bitcoin =/= 1 bitcoin. And even if they did you have an existing body of work that will never change.
Bitcoin vs bitcoin is already hard to comprehend for most.
Now youre asking ppl to comprehend Bitcoin vs bitcoin vs bitcoin.
Nope, these people won’t have to comprehend Bitcoin vs bitcoin vs bitcoin. That’s the point. These future people don’t have an anchor to the current units.
They will need to get paid in Bitcoin. Once the number appears on their screen they will move on with their day.
True or not, that's in the future.
We have to get through the present first and a change at this juncture will cause significant chaos when trying to communicate, anytime u use the term "bitcoin"
I think it happens at some point. Better to rip the bandaid off when we’re smaller.
In reality, we might not really have a say in how it plays out as much as we’d like to think we’re in control of it.
“They will utilize whatever phrasing we use.”
I wish you were right, but I don’t think that’s how it will go.
See 👇
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That's more of an explaination than most people will have time for. They'll need money, someone will send it to them, and they'll stop thinking about the interaction. "Send me Bitcoin", number shows up, their mind says, "Bitcoin received".
Sats can be used as a nickname, but most people will simply equate the numbers with the term Bitcoin.
If that's too much explanation then they aren't ready for bitcoin yet. Doesn't matter what lexicon you change, they won't get it.
Those who are so staunchly and willfully unable to understand 100m sats = 1 bitcoin will either HFSP or get the price they deserve.
Even new entrants need to show minimal proof of work.
Agree. It really isn’t that hard to understand.
Why make it more complex and degrade all the learning material that has been put out there already? Makes it so much more complex with more terms, different slang. Words are words. Sats are Sats. Get used to it.
It’s not hard to understand but it’s an extra step that will be evolved away as Bitcoin becomes efficient for daily spending of billions of users.
New entrants don’t have to show anything. That’s the point. They want to get paid or pay for something. Someone says “Bitcoin” and the numbers are transferred. Then they go on with their day.
End the psyop.
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