What’s this thing about calling sats bits?
Who’s doing that??
What’s going on?
#asknostr
Discussion
I guess the perennial debate got kicked back up due to this post from nostr:npub1sg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q0uf63m:
Wow!
Thanks
Why? When you can buy fractionals of the whole right now, there is absolutely no need to split anything. It's dumb.
I think the point is that people hate using decimals
I got ya.. I figure we still seem to value everything and do commerce based on the fiat dollar, so those fractionals aren't front and center
As far as Bitcoin's code is concerned, there are no decimals. Sats are the base unit on the blockchain.
The concept that 100,000,000 sats = 1 Bitcoin is a social agreement external to the actual way Bitcoin works.
That said, it is such a longstanding social agreement that it would absolutely cause a lot of confusion and controversy to try and change it now.
Keep the 1 Bitcoin = 100,000,000 sats for the sake of consistency. To change it at this point would make a whole lot of folks scream "I thought Bitcoin didn't have inflation!" because no one actually knows how division works...
Of course, I didn't listen to the video, so I probably don't know what I'm talking about.. Sorry
The same old fiat biased retards you believe a currency should have 2 decimals...
They been at it for years but just wait till some Brit proposes their own fucked-up system where:
1 pound = 20 shillings
1 shilling = 12 pence
1 mite = 1/8 penny
1 farthing = 1/4 penny
2 farthings = 1 halfpenny (pronounced more like “haypenny”)
2 halfpence = 1 penny (or a ‘copper')
2 pence = 1 tuppence or a half-groat
3 pence = 1 thruppence
4 pence = 1 groat
6 pence = 1 sixpence (a ‘tanner')
12 pence = 1 shilling (a bob)
2 shillings = 1 florin ( a ‘two bob bit')
2 shillings and 6 pence = 1 half crown
5 shillings = 1 Crown
nostr:nprofile1qqsglv2qkn5dmmuhee9cy8fywfu2rfp4xd3xy0myqg2gfvmjl9yqqrqpz4mhxue69uhhyetvv9ujumt0wd68ytnsw43qzyrhwden5te0dehhxarj9emkjmn9qy8hwumn8ghj7efwdehhxtnvdakqhjdaln is calling them fits or zits and I'm calling them jits. maybe you can call them lits or litz.
at this point people are just starting to make shit up, like creating confusion between terms will help anything.