22h ago
TL;DR:
$1 is divided into 100 “CENTS”
1 BTC is divided into 100m “SATS”
Simple.
I can’t believe the amount of commas would hold anyone back.
And if it did, renaming "sats" to "bitcoins" is not productive.
Call them "bits" if you want it to sound more like "bitcoin".
23h ago
BIP-177 is a subversive proposal imo.
The goal?
Change what we now call "sats" to "bitcoins".
(using the "₿" character which is nice but irrelevant for the issue I see here)
"sats" or "satoshi" has been used since early 2011 (but not officially documented).
BIP-177 wants to change this established language that has been used in ALL of the Bitcoin education material made in the past decade.
@BitcoinErrorLog wants to be "technically" right because there are no literal SUB-units we can call satoshis, they are referring to the BASE units.
I find this strange because language matters and changing this is confusing to say the least.
Why?
1 DOLLAR ≠ 100 dollars
1 USD ≠ 100 dollars
It's:
1 DOLLAR = 100 CENTS
1 USD = 100 CENTS
So this is logical:
1 bitcoin = 100,000,000 satoshi
1 BTC = 100,000,000 satoshi
and this is not:
1 BTC = 100,000,000 bitcoins
0.345 BTC = ₿34,500,000 or 34,500,000 bitcoins
That's what is proposed - are you following? ⬆
Changing what is basically UX copywriting that any app builder can decide for themselves will create confusion because people will now think there are 2.1 QUADRILLION BITCOINS (if this proposal goes through).
Totally subversive to all existing educational material and it will confuse people because large numbers are incomprehensible and scary for many so where "21 million bitcoin" is still somewhat comprehensible for people, 2.1 QUADRILLION WILL NOT.
Very bad idea. Prove me wrong.
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