What you are basically saying is, "people are too stupid to understand a sat is a fraction of a bitcoin, but not too stupid to realise we just went from promising there will only be 21m bitcoin, to now saying there are 2.1 quadrillion"
Do you see how dumb this is?
The people I've onboarded didn't know bitcoin had an upper limit. To them, bitcoin is something they've heard about on the news whenever there are big swings up or down. I have to educate them on the rest.
Then educate them that sats are the base unit 😂
You are telling me you explained the rest and all the complexity, but the one thing we need to change is the base unit name to make it easier?
Yes. As I said in my original post, BIP 177 is cool because it eliminates the number of thing you need to explain to onboard someone.
Them: "I think I'm ready to buy some bitcoin"
Me: "Cool, let me help you get set up"
Them:
Me: "Click the receive button, let me sent you some sats"
Them: "What's a sat?"
Me: "Well you see, the creator of Bitcoin used the pseudonym Satoshi Nakamoto and..."
It's cool history, but the average consumer doesn't care. They just want bitcoin :)
And anyone who does understand the history just wants ONE of the 21m bitcoin.
Look, this is very simple, people are not going to walk away because they now now a sat is a fraction of a bitcoin, are they?
Zero people have gotten all the way to pushing the buy button, and then decided to stay away because of the name sats.
It has never happened. Let's be honest about what this is - unit bias shitcoinery leaking into the minds of bitcoiners.
I agree people aren't going to change their minds after hearing about SATS, but I still think it simplifies things for newcomers. Bitcoin has strong name recognition, let's build on that by not diluting it with "new" terms.
We're likely to never agree on this BIP and that's fine. Let's see where things shake out.
Wishing you a great week.
My view on simplicity - we are fighting huge Dollar network effects, taxation, slur campaigns from other shitcoins, a decade of being sneered at, a wave of scams every new bitcoin cycle, and on this long long list of things we need to overcome in order for bitcoin to be accepted and used as money, if I were to list them in priority of impact, the term sats wouldn't even be on the list.
Next time you reach the point when you say "I will now send you some bitcoin" just do it. No need to explain anything.
"You now have X bitcoin, otherwise known as Y sats"
My nan used to use Pounds, Shillings and Pence.
20 Shillings to a pound, and 12 pence to a Shilling. This was the global reserve currency at the time.
I promise you, it isn't the word 'sats' that is preventing bitcoin becoming the money lol.
Having said that, yes, enjoy the rest of the week, Austin.
