satoshis are bitcoins now 🤯
Discussion
that's the longest domain I've seen a real business use, like omgoodness
Roseburg?!?!
Why you in Oregon again? Leave this place… it’s a dying land.
As it was meant to be. The name wasn’t Bitcoin Nakamoto.
BIP 177 isn't the best thing that should have happened a long time ago but it's pretty high up there. I'd prefer to live in a world where we already implemented BIP 177
🫣
A small s after the Bitcoin symbol would suffice
You can just do things.
nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m can also just do things :D
General public has no knowledge and the technicals who implemented it are bad actors for doing in that way.
20000 Bitcoin = 1 Slice Pizza now
thats call inflation then 10000BTC 2 full pizza
That makes no sense at all. What fool did this.
Square. They implemented BIP-177. Coming soon to everywhere, because it makes a lot of sense.
It's confusing for no good reason. Same situation as with the Russian ruble being scaled down by 100, except that issue was confined solely to the Russian populace, and communicated clearly to Russian residents by the Russian government before adoption.
The words "satoshi" and "sat" are already well-established, so just adopt a standard symbol and abbreviation that, and encourage exchange platforms etc. to adopt it as the standard. "BCS" or "SAT" works for an abbreviation/ticker, and we already see "≡" with a vertical line as a prevalent symbol, though alternatives such as "$@" are also somewhat common already.
What portion of the global population uses bitcoin, and is familiar with the word "sat"? 1%? 0.001%? Whatever it is, that is the extent to which "sat" is established.
Explaining what "sats" means to people who are new to Bitcoin, or even those who are not new to Bitcoin but are unfamiliar with "sat", is a tedious exercise, often met with confusion. It is not intuitive for them, nor easy to remember. If we just call the units bitcoins, that problem goes away; there would be nothing extra to remember. It is a lower cognitive load for new users. It also removes the "I can't afford a bitcoin" unit bias that a surprising number of people have.
A large portion of the population is already familiar with bitcoin and its price in dollar terms. Suddenly shrinking that by a hundred-million-fold is going to be nothing but confusing. "Yeah, you saw bitcoin was $100k each last week, but now it's just a tenth of a cent. No, no, it's not because there was a price crash, it's just because we changed the definition, you see."
By contrast, saying, "just like there are 100 cents to a dollar, there are 100 million sats to a bitcoin, so it's usually more convenient to talk about sats than bitcoin," is not at all something I've ever had difficulty getting across to people in my 10 years of using and explaining bitcoin.
Some new people I’ve talked to get it right away, but most newbs’ eyes glaze over. Other people in the real world see this too:
https://primal.net/e/nevent1qqsqtqf623auevk9g2v2lpeam8xvuhrhc9r4clmd7rufyzcdjnjuddgj394es
The proposal recommends leaving the BTC ticker the same, so the price would be unaffected.
At least in the short term. I think that over time, exchanges might shift to the commonly used syntax — if bitcoin becomes widely used for payments. Which is going to take a long time.
Send requests to all app devs to implement BIP-177 🙏
I think its a mistake, given that there already is a big, well established world of exchanges, wallets, services etc. out there that function under the 1.00000000 BTC paradigm, and simply will not change given the sizes/volumes involved. I.e. its financial markets vs retail perspectives, and now this retail perspective is trying to claim a thing the financial market perspective had a hold of since day 1.
Organically a sollution already emerged in the form of sats (whilst 'bits' clearly lost that fight). Jack's effort would have been better spend at either getting the sat symbol into unicode, or addopting the lightningbolt (U+1F5F2).
I think its a bold move, not sure if mistake
He should have gone for the bolt move instead
It's self evidently a horrible idea. Units matter.
"bItCoIn iS sCaRcE! tHeRE wIlL oNlY eVeR bE 2.1 qUaDrIlLiOn!"
"cEnTs aNd dOlLaRs aRe tHe sAmE!"
I became somewhat internet famous for almost exactly this sort of units confusion. See "VerizonMath". https://verizonmath.blogspot.com/2007/08/original-recording-of-verizon-customer.html
What could possibly go wrong?
Didn't we lose a $300 million Mars orbiter due to units of measure being mismatched?
Imagine scanning an article/stream/video paywall invoice for 5 "₿"? Totally insane. Is this guy going for broke in terms of being a bad actor or just high on his own supply?
Now we need to work on a way to subdivide them on chain.
Death to US Dollar, Death to US Dollar users including Death to Dollar denominated National cash including Bitcoin cryptocurrency even in post quantum currency. Death to money worshipper and make Fiat death faster than slower before Fiat marriage babies born even incarcerated in Prison planet of war economy forever.
Not interested any more garbage paper money or any cursed money from outside including US dollars Of corrupt system
Cursed people beyond dumb people use cursed money.
Money game is over and Don’t worry about sanction even KYC in internet money and local don’t use it because don’t value it and those who value it some are foreigners or some are digital nomad who don’t stay and don’t keep the promise like promissory note of money history and come and go with digital assets in digital economy.
Do you know the real problem for real solutions?
No money No problem especially fiat cursed worthless money where no wealth no health in corrupt system.
Yeah, I think its werid the way it shows up like that. It looks like a person is spending 5706 bitcoins. They should just use the full notation eg. 0.00005706
It makes me sick such grandiosity!
5 thousand bitcoin for a latte sounds like a good deal!!