No 2. Is wrong. The idea is that BTC is the 100_000_000 thing and remains so.
All people are saying is call sats lower case bitcoins.
I don't care either way. But at least criticise the real suggestion.
Discussion
The real suggestion is much worse. The BIP says that the internal represetation in core is Bitcoin. Every engineer knows that internal representations are never the truth. Internal representations are just encodings of what users want. And what users know is that we have 21M BTCs, not 2,1 quatrillion BTCs.
Your argument then is that BTC is synonymous with lower case bitcoins.
But a counter argument could be that BTC is distinct from bitcoins, and are usually pronounced bee tee cee.
The only reason this shit matters, if it does matter is that calling BTC bitcoins, instead of calling sats bitcoins, make bitcoin sound extremely unaffordable.
You can argue that normies are retarded for not knowing that BTC is millions of times bigger than what they can actually buy, but that won't help.
I hope people arguing against the bip at least engage with the unit bias argument instead of insisting that the 21 meme has anywhere near the same effect on the general population perception of Bitcoin
No, my argument is that our global "consensus" of 21 million bitcoins is bigger than any code anywhere.
But what I am saying is;
1. We don't have that consensus at all, we only have a consensus on the 21_00_000_000_000_000 units, regardless what they are called, sats or bitcoins.
2. To the extent that the "21 million" meme matters to anyone, it is regarding the token "BTC", not for the lower case bitcoins word.
3. That the negative effect of the unit bias, is way bigger than the positive effect of the 21 meme, even if you insist that the meme is "21M bitcoins" not "21M BTC"
If you disagree with that... fine, people will fight this one out in their app implementations, no one can force anyone to do anything.
1. No one even knows about the 21_00.. units. Only devs know how Bitcoin is represented in code. How can we have "consensus" on somebody nobody even knows it exists? That's not the consensus.
2. 21M is not a meme. It is on all books and all serious educational materials and software we use. Calling it a meme means you are discussing this in bad faith. You know better.
3. Unit bias is negative and will always be negative regardless of which decimal point you write "bitcoins" after. Multiple countries will have different unit biases. You can't solve this by moving the decimal.
Again, you are just saying that BTC is interchangeable with "bitcoins".
I can accept that argument and the discussion ends after that because I disagree and it is too subjective to settle, and everyone can do what they want going forward.
But I disagree with the last point too, I don't think we will need to divide bitcoins further than the granularity in the code, even though I actually don't think "millisats" are fake, but I just don't think we will have that much economic activity on the Internet flowing through Bitcoin that one unit becomes too expensive.
Anyways, if only these were our biggest problems.
Let me know how many people will be pissed when they send 20000 bitcoins from your platform and the receiver only gets 0.0002 bitcoins in theirs.
Well, Bitkit already started, you let me know if the sky falls or if anyone gives a fuck at all.
What we are fighting is apathy. I know Turks bought gold instead of Bitcoins to escape inflation, even when they had to import more on containers after the local supply dried up... so let's not count are chicken before the hatch.
I don't know anyone using Bitkit... But I just installed it and found it very confusing to generate an invoice in the right amount I wanted.
Don't you at least think that no one could ever mistake a 100Mx? As in if you saw 100,000 bitcoins on an invoice, is there a chance in hell you are going to confuse that for a 100,000BTC?
I don't know man, I just want bitcoins, I don't want sats it sounds shit.
But what I want the most is for Ark (or something) to work and scale so we can have this debate again when there are actual users.
So you want to explain to the normies that Bitcoin’s price went from over 100k to 9 cents?
The normies will start laughing and say I’m not buying that shit it’s going to zero.
No BTC price will stay the same.
You can tell the "normies" that BTC is a large denomination and that they can afford 1000 bitcoins.
If you think telling them they can afford sats instead... fine, but you have to engage with the fact that "sats" means absolutely fuck all to people.
Most people have heard of Bitcoin and think they can’t afford it.
(That’s the whole point of making the decimal point disappear)
So when they see that Bitcoin is at 9 cents they will think Bitcoin has crashed all the way down from 100,000.00 to 0.09
This creates more confusion and doesn’t help anyone.
No one fuckin wants to change the decimal point for BTC man, the price charts will not change.
All what people say is just use "bitcoins" where you are currently using "sats".
Anyways, it doesn't matter really 😅
Idk, at least a few media outlets would probably present it as Bitcoin crashing, and at least a few people would misunderstand the news and think it means Bitcoin is crashing even if it's presented right