I can only assume you are feigning ignorance here, considering what you’re involved in building, but if I’m wrong then apologies for assuming. If you are, and you are intentionally ignoring the debates that have taken place over and over again about this, then that’s pretty obnoxious of you. But for the sake of debate, no it’s not a needed improvement. “Sats” is already widely used. Here are a few wallets as examples. Losing battle but your business if you want to waste that time.
I get they say "sats" today, but think coming up with a symbol for sats that captures "bitcoin" is really important. There is no "symbol" so why not use the bitcoin symbol (or something that somehow relates to bitcoin). I would bet any of these apps would prefer something other than sats, its so so confusing for new users. To give more context, right now Coinbase is spending millions of dollars trying to go after new users saying they should get "onchain" with cbBTC and the logo they use is the B bitcoin logo. This makes my blood boil, however its extremely good (and of course highly misleading) marketing for a new user. BTC onchain sounds amazing. Should I get bitcoin onchain or sats? What's a sat? I'll take bitcoin onchain since onchain is supposed to be good and when i google SAT crypto price I get some random ordinal token. This is what we're competing against, and we're losing btw, with sats. So I'm trying something new, of course, we'll give you the option to show sats. I'd rather we get rid of sats, but thats hard today, so coming up with a bitcoin related symbol is probably the next best thing we could do.
Sats is the symbol for sats. It’s what nearly everyone already uses. You can try to convince yourself and others of something else if you like. I’m not sure you understand how pointless your endeavor is, but that’s for you to find out.
FWIW on X, two bitcoin wallets today proposed bitcoins instead of sats. 100% think it should be bitcoins.
100% of who? You, yourself, and you? 😂 I’ve seen those threads. I’ve seen the discussions similar to it in years past. It’s nothing new. Good luck.
Oh oops ha, like emoji 100% for me. I'm really really trying to understand the desire to have sats so this is all extremely helpful. For me its "new" because we have new information (that we didn't have a few years ago when everyone decided to adopt sats) and that is that sats is really confusing for new users and Coinbase (which doesn't use sats) is marketing "onchain bitcoin" and doing way better than everyone else. So we need to adjust.
Ah, I misunderstood the 100% 😂 What you are saying is slightly incorrect. Sats are on chain bitcoin. They are simply a smaller denomination than BTC, which Coinbase uses. All these other wallets I showed you also offer that option for display and use the ₿ symbol, and some of them even default to it. You are proposing something different to what all of them do currently. What I’m saying is that it is pointless at this point to try and argue for that large of a change. There is nothing substantial to gain from it. It’s easy enough to explain to new users that sats are the smallest unit of a whole bitcoin, and then move on.
Yea sats are onchain, but Coinbase is egregiously marketing cbBTC as "onchain" (which is really an ETH rollup, not onchain bitcoin at all).
So for the new user, they see Coinbase cbBTC (with bitcoin logo) onchain vs "Boardwalk sats". Its just hard to compete with that marketing for a new user. Agreed that maybe its not better to have "Boardwalk Bitcoin", but maybe helps a bit for a new user.
We're gearing up from a product perspective (lots of awesome new stuff coming soon!) to compete directly with Coinbase wallet, so I think of them as the main competition and need to have better marketing so have been working a lot on the comparison for a new user.
I guess I’m a little confused why it’s an issue. cbBTC is a token pegged 1:1 with Bitcoin, and as you said it’s not Bitcoin. Coinbase explains this clearly when I look it up on their website. It is similar to how cashu and liquid are not Bitcoin, but are tokens pegged 1:1 with Bitcoin. They can all be transacted anywhere they are accepted, and then “cashed out” for bitcoin when the user wants. If someone was to buy 0.01 cbBTC on Coinbase, and sent that (via a swap I assume) to some Bitcoin wallet, in most popular wallets that balance would be shown as ₿ 0.01 or 1,000,000 sats based on user settings. If that same swap was sent to Boardwalk, Boardwalk would show it as 1,000,000 ₿ , correct? That is incredibly confusing. Why not just use what every other wallet already uses when denominating bitcoin? There’s nothing to stop you from using ₿ the way you are, but I’m trying to point out to you why it doesn’t make sense. It’s your battle to lose, and it’s your customer service that will need to explain it to your users.
Yea that makes sense. I think we're just coming at this from two different user bases. I'm just optimizing for new users that want bitcoin. They have no idea what sats are, just want bitcoin and to see how much its worth in dollars. I never want to explain sats. The new Coinbase user just wants bitcoin, sees bitcoin, sees how much its worth in dollars, easy. The new Boardwalk user just wants bitcoin, sees bitcoin, sees how much its worth in dollars. No sats. I would be surprised if anyone thinks they have 100 million times more than they think. I think its worth openly sharing that data (and I will) and it would be great it other bitcoin companies shared as well cause I think we'd get rid of sats pretty quickly if they did.
We've had 4 people complain so far (but they figured it out without any help) fwiw. Small sample size of course.
Zero demand. That’s what you’re demonstrated.
The new coinbase user is a shitcoin gambler. You’re on a fool’s errand. Design for Bitcoin adoption, not casino patrons.
I think you're underestimating what we're competing with. Coinbase is leaning into their self-custodial wallet (Coinbase wallet), cbBTC and stablecoins as well as payment rails by working with merchant acquires like Stripe. Bitcoin as a payment rail is behind and losing and if we continue down this route then bitcoin will be an asset like gold and no one will use it for payments. At Boardwalk, we don't like this future and don't want it to happen, so we're trying to be at the cutting edge of technology and creativity for bitcoin payments - ecash, NWC, stable value on bitcoin native rails, and much more. So we are designing for bitcoin adoption but we must be competitive with Coinbase and every other payment method or no one will use bitcoin for payments.
