holy fucking fuck. he still doubles down on his stupidity.
Discussion
Bits of Bitcoin is not a bad suggestion.
However, Sats lead to people learning about Satoshi what is a good thing.
He is often retarded ... there is something strange because its a fact he is involved in Nostr and Bitcoin which are freedom technologies, also his track before that with cutting edge technologies but then there are those strong moments of ratardation of his ... just strange
While I am a noob to bitcoin and have come here as a creator leveraging the ‘freedom tech’ aspect of #nostr & #bitcoin in general - IMHO I agree with jack’s POV here. I personally call it bits in my own private ways and have done my best to look deeper into the legacy of how all this came to be in its present form. This is just a glimpse into a regular individual seeing the overall value of Bitcoin and what you all have dedicatedly built. I do my best to be respectful while also stating my newly adjusted POV. 🕊️🥰🤟🏻💕🪡🎶
He’s right about just bitcoin is best. It’s our new definition of value. 1 digital unit = value. Per definition. In my pov.
Jack has been such a disappointment lately. Does he really think people can’t understand a concept as simple as pennies on the dollar? I guarantee this is not what’s stopping people from studying Bitcoin. This is mostly an issue because it’s looked at as an investment opportunity and a way to get more fiat rather than a medium of exchange. I’m sure that if/when the capital gains tax on Bitcoin is lifted, then brick and mortar stores in the US will start accepting Bitcoin. Which is exactly why they haven’t lifted the cap gains tax yet. The US government is buying themselves time to build up their Strategic Bitcoin Reserve (via confiscation and theft so far) before releasing the floodgates of adoption.
How about calling them Satoshis? Yeah, Sats is sommething anyone who's been around Bitcoin for awhile knows, buy maybe new people need to have the full name, and maybe even search the name..Then they'll understand.
Between Jack and Peter Todd I don't know who's saying more bullshit in these 2 days. Mind-blowing
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I cant believe the credulity here.
The cluster B personality disorder playbook:
1) Community Crisis:
"We got trouble! Right here in River City!" If we keep calling them sats people wont use it as a means of exchange, even though we constantly claim that bitcoin is so powerful and useful it will be ubiquitous and people won't have a choice.
2) Plausible sounding problem that doesn't exist because it's already been solved:
Too many zeros can cause mistakes in small transactions.
3) Already in place solution is not enough. Social engineering would be more effective and the best way to determine this is to listen to the experts. The experts are experts because the experts say so:
Sats are esoteric. People who didnt know what bitcoin was yesterday and now do know are not likely to be capable of learning a new thing. Dumb poors get confused and cant grasp the concept of dollars and cents. Dumb poors think sats are an altcoin and cant understand a number smaller than one.
4) Lead with a reasonable, appealing (but unecessary) suggestion:
"bits is catchy. Bits are the smallest unit of bitcoin like bits are the smallest units of information" (remember we're talking about people here who get confused by concepts like dollars and cents)
5) Bait and switch the marks:
"but calling1 millionth of a thing 1 thing is the best decision and will help eliminate confusion and build trust".
If I wanted bitcoin to remain solely a store of value and encourage the mass adoptation of stablecoins, this is what I would do. The topic is just about guaranteed to become radioactive like everything else Jack attaches himself to.
The most important thing about Bitcoin is trust. If it is renamed trust will surely disappear among a lot of people. Do we need to make such a compromise to attract newcomers? They don't care what it's called. Bitcoin doesn't need advertising or renaming. We don't even need to convince anyone to use it. People will start using it themselves.