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Humans develop words for denominations if those denominations are meaningful in everyday life. A dollar is meaningful in everyday life. You can price a sandwich or a car in dollars. You cannot price anything in BTC.

This is why we don' t have an official English term for 100,000 dollars. Or 100,000,000 dollars.

In fact find me any other currency in the world that has a widely-known word for a denomination that is 100,000,000 times the value of another denomination it also has a word for.

Not how the brain works, so why work against the brain?

Danneskjold 7mo ago 💬 1

All this "mathematical psychology" will lose its meaning when 1 sat becomes 1 cent, and then a quarter of a dollar, and so on...

People will find their own terms for multiples of sats (10x, 100x, 1000s), and sats will probably be the name of the currency itself.

It's all about thinking in BTC quantities and not in fiat quantities.

What is extremely harmful is explaining to your non-bitcoiner friend that the network that you say doesn't create money out of thin air and used to have only 21 million BTC now has 21 quadrillions.

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Discussion

Garbage nsec 7mo ago 💬 1

> All this "mathematical psychology" will lose its meaning when 1 sat becomes 1 cent, and then a quarter of a dollar, and so on...

No it won't because you'll still be able to price normal things in that denomination.

Danneskjold 7mo ago 💬 1

I mean people will price things in sats or denominations of multiples of sats, which may be jargon that we can't even think of yet.

Suppose that is a problem.

Changing the name sat to btc will only increase the problem. In addition to people having to face the problem of scale (today a sat is not worth a cent and it is necessary to invent expressions for multiples of sats, which would also be necessary for multiples of the new denomination, btc) they will still have to understand why the 21 million btc became 21 quadrillion.

Só, basically, the solution is to add another layer into the problem.

Garbage nsec 7mo ago 💬 1

In Vietnam for example there is one word: dong. 1 USD is around 25,000 dong. There is no other word. If you want to sell something you can ask for 100k dong, 1 million dong, 100 million dong, 1 billion dong, whatever.

Works totally fine. You don't need multiple words.

We already have the words: hundred, thousand, million, billion...

Danneskjold 7mo ago 💬 2

Agreed. You can always say 100 million sats.

Garbage nsec 7mo ago 💬 1

Yes exactly. The words Sats is all you need, the word Bitcoin becomes unnecessary and slowly becomes like the word Bullion for gold, used only by traders and such.

Just a silly branding move, that's all. Build the Bitcoin brand, then throw it all away for the Sats brand.

Sat Nakamoto 7mo ago 💬 2

Build the dollar brand, then throw it all away for the cents brand. Got it.

Wait why do we have to throw it away?

Garbage nsec 7mo ago

No because you can price normal things in dollars. You can't price normal things in BTC. Denomination words fade out of a language when you can't price normal things in them.

Danneskjold 7mo ago

Come on, it's just two names and primary math. The other name is the pseudonym of the creator. How difficult that can be? People with an IQ unable to get that, probably will not adopt BTC in the first place.