Nostr Web Client

sats is definitely the wrong term and is stopping everyday people from holding and spending bitcoin.

i agree with steve’s points in this video.

I’ve been catching heat all day from the “sats forever” or “whole-coiner” diehards, but after multiple rounds of Discord drama, your take is honestly spot on.

All the self-proclaimed Bitcoin “experts” fumbling just trying to figure out how many cents are in one satoshi “it’s 1 cent, it’s 0.1 of a cent, it’s 1/10 of a cent” etc etc– if that’s not proof the UX is busted, I don’t know what is. Decimals like “0.000038 BTC” and niche terms like “millibits” or “μBTC” aren’t helping normies ether; they’re creating friction that pushes everyday people away and convinces these same normies to stay locked in the fiat money system.

Reply to this note

Please Login to reply.

Discussion

Deleted Account 7mo ago

Fuck all of this “easy onboarding talk” 👋

When visiting other countries the first few days people are confused by the difference in currency and always calculate into their own.

But nobody gets to decide the other countries name for their currency and starts referring to it as “a 10th of my currency coin”.

So the nobody despite their logic, influence or whatever will dictate how these decentralized nation will call its smallest denominator.

Latrica 7mo ago

Thanks for your take. Other than this thread posted by nostr:nprofile1qqsgydql3q4ka27d9wnlrmus4tvkrnc8ftc4h8h5fgyln54gl0a7dgspz3mhxue69uhhyetvv9ujuerpd46hxtnfduq32amnwvaz7tmjv4kxz7fwd4hhxarj9ec82csafn79u , I haven’t peeped into anything else. I’m sure people are talking in circles and giving themselves a headache. 🥴

Honestly, I was waiting to follow up with more information. But I’ll go ahead and add it now.

Part 2 of My Response:

Creating a new denomination system is potential solution. But it is only a temporary solution and not a permanent fix. Why? Because the value of Bitcoin is volatile and not fixed. For those who want Bitcoin to increase to $1,000,000, it will change the value of a sat. And other denominations. As a result, the smallest denominations will be hard to fathom in everyday use.

At this point, it’s too late to go back to the 1:1 system. The only exception is if everyone agrees to remove the valuation system from Bitcoin. Now who wants to go back to Bitcoin being $0.00? Are people ready to have *that* conversation? Since governments, investment companies, businesses, etc. have a financial stake in Bitcoin, are they willing to be ok with Bitcoin being $0.00. Since they will HODL, can Bitcoin even go down to $0.00? Probably not.

I recall people were ecstatic when Bitcoin made it to $100k. And when I had some issues with it, I received a multitude of negative comments. 🤷‍♀️

So I kindly repeat, who wants Bitcoin to go back to being $0.00? As a reminder, the original intent of Bitcoin was to bypass financial institutions. But now we’re here.

I’m an educator. I can pose these questions all day. Many of the Bitcoiners are overly passionate about Bitcoin. At times, too emotional and don’t think logically about Bitcoin.

Bitcoin is founded in math. Math is rational, logical, and analytical. Some math concepts have fixed solutions. Bitcoin has a finite amount. 21 million. Once it became attached to something that is considered infinite (the US dollar because it can be printed to infinity), we now have a problem.

Who can think of a logical solution to the problem? How can adoption be increased around the world? Is the term sats holding people back from adoption? Or are other things holding people back from adopting Bitcoin? If so, list them AND provide solutions.

Math problems typically have solutions. Who can provide attainable solutions that can be reasonably implemented ?

P.S. Answer carefully. Otherwise, you’ll give “them” justification to usher in stablecoins.