Satoshi also approved it by saying if bitcoin ever became pricy we could simply move the decimal point (presumably eliminating)
It would certainly embolden normies.
nostr:note1r4dd8gkzqq2f68aarvtg66mdwakfwlrgl9pcd3nsu7j8yhjc5y2sa7c6z0
Discussion
I know that you know what you're saying. However, can you somehow elaborate, please?
It’s not a bad idea, but it comes with a price.
1) You won’t be able to say we have 21m bitcoins. I don’t even know how to say 21 (gazzilion) satoshis. Branding is very important.
2) you will have to deal with the stupid people who will say we inflated bitcoin 😂 it will happen trust me.
3) all the content we pumped out in the last 10 years will be confusing.
4) benefit, people will stop thinking bitcoin is expensive, but do we really want that right now.
Correct. I suspect it would be very turbulent in the short term, lots of confusion, fud, people taking advantage of people, but in the longer term it would work out just fine. Things would eventually settle and we’d be back at it. Could help normie adoption and price go up (long term). Certainly scary! But kind of fun too. I think im down for it just for the chaos 🤣 😈
But we lose 21m 😢
Yep. It’s a powerful narrative for sure. People like scarce things.
Honestly I don’t care.
But I feel it’s not solving anything except for people who think Bitcoin is not divisible.
Which is something you learn on day 2 usually.
Well, if everyone thought it was divisible, then people that know otherwise can exploit that to multiple the qty of bitcoin later.
So it's actually pretty important.
Can you expand on this. I did not understand it.
You don't lose anything. You can continue to worship any arbitrary denomination of units you want.
You could call them megabitcoins, or even BTC.
Names are subjective anyway.
But now, if you do, you will know you are being arbitrary and incorrect :)
You do lose the perception of less bitcoin units as people perceive it today. Not sure if it matters in the long run though but people will absolutely hover on this “issue” in the short term.
The BIP actually REMOVES the decimal point because it is fake.
What do you feel will be gained by this? Genuinely curious.
The intent is face value in the BIP. I sincerely think this is the best way to portray bitcoin and that doing will prevent people from being misinformed about Bitcoin divisibility and its lack thereof.
The whole "pizza" meme think was frustrating for me because all that should have happened was some correcting her to let her know Bitcoin is not even divisible!