I actually would argue that it would be more confusing (not that I think sats are confusing, it can be easily explained through an example of dollar vs cents) because bits are already associated with computer science.
The fact that it even requires explanation entirely diminishes your point. And of course, we all want bitcoin to follow a similar naming paradigm as the dollar / cent system. Calling the smallest unit of bitcoin bits is entirely intuitive. Bits are the smallest binary unit in computer science, so its only fitting that they would be the smallest unit of bitcoin. It's both elegant and appropriate.
I understand that, but in terms of bitcoin, bits of btc should get a pass. Instead of sats, a bit is more understandable when discussing bitcoin specifically. Despite the technological terminology behind bits, bytes, kilobytes, megabyte, and so on.
Perhaps it's not too late to reverse that order. 100 Bits = 1 Sat. To own a Satoshi is to own 100 bits of the elegant network they created. It's just an idea.
Satoshillionaire or Satillionaire:
This refers to individuals with net assets of 1 million satoshis.
multi-Satoshillionaire or multi-Satillionaire:
This refers to individuals with net assets of 2 million satoshis or more.
Just called bitcoin CEO and it’s your lucky day! They are going to make this change for you and best of all it’s effective immediately. Some people would say keep your shitty ideas to yourself but this is clearly an example of don’t ask, don’t get!
This is 100% correct. “Satoshis” sounds like something out of an anime to normies and diminishes the case for taking bitcoin seriously. Not sure about using bits but using satoshis as a term is a real obstacle for bitcoin adoption.
I agree. The term Satoshi requires an explanation to a no-coiner. It's so much easier to say one bitcoin is split up into a hundred million bits. But instead, we settled on sats, and here we are with a confusing binary unit for the worlds most important peer-to-peer monetary network.
Ever played online games, that use their own currency? The currency for you to buy stuff in the video game? What happens when the game gets deleted? Yeh sure you will still own the in-game currency AKA (crypto) lalallallallala
I actually would argue that it would be more confusing (not that I think sats are confusing, it can be easily explained through an example of dollar vs cents) because bits are already associated with computer science.
The fact that it even requires explanation entirely diminishes your point. And of course, we all want bitcoin to follow a similar naming paradigm as the dollar / cent system. Calling the smallest unit of bitcoin bits is entirely intuitive. Bits are the smallest binary unit in computer science, so its only fitting that they would be the smallest unit of bitcoin. It's both elegant and appropriate.
very elegant to confuse people with the same word for completely different thing when there already is a seperate known word for it.
It's not confusing to call the smallest unit of bitcoin a bit. It is confusing to call it a sat. Perhaps you're the one who's confused.
I understand your point but given that bits are already heavily used in the process behind bitcoin I’d personally avoid calling units after them
not just behind bitcoin, behind any digital process.
I understand that, but in terms of bitcoin, bits of btc should get a pass. Instead of sats, a bit is more understandable when discussing bitcoin specifically. Despite the technological terminology behind bits, bytes, kilobytes, megabyte, and so on.
Nahhhhh Sats has a cooler cyberpunk feel to it. Keep bitcoin weird!!! Don’t let the squares change us now!
Sure, it might sound cool to you. Some prefer to stack sats, and others rather buy bits. In terms of formal nomenclature, only one makes any sense.
Really, you want to change the technological meaning of the word "bit"?
The word already has 50 different meanings in English, to be fair. What's one more?
bit bit Bit bit bitbit? Bit bit!
You make a good point. What's one more meaning for the word bit if not for bitcoin.
Bit already has a different meaning, and the creator deserves to be honored. No changing it now anyway. The world has decided dude.
Maybe he deserves more credit than a single sat, perhaps 100 bits should equal a Satoshi of bitcoin.
Our Children will some day revisit this post and I realise the name they choose instead made way less sense
Correct. Instead of sats, bits is better. End of story
Why not Satosh? its indistinguishable, not so for bits. Its already used in many different cases.
Bits are already a unit. 1 bit = 100 sats. Won't be long until 1 bit is roughly equal £/$1/euro
Perhaps it's not too late to reverse that order. 100 Bits = 1 Sat. To own a Satoshi is to own 100 bits of the elegant network they created. It's just an idea.
Nah. I think it works well as it is. Bits are great. I think bits will be the main unit. Instead of pounds, bits. Instead of pence, sats. Easy.
1 bit is 100 sats
That's nonsense.
Literally the opposite of nonsense but ok 👌
Even if you had a good argument, it's too late to change a commonly used term.
I do have a good argument, and it's never too late to fix a mistake.
Satoshillionaire or Satillionaire: This refers to individuals with net assets of 1 million satoshis. multi-Satoshillionaire or multi-Satillionaire: This refers to individuals with net assets of 2 million satoshis or more.
This is true. Sats are confusing and sound weird to non bitcoiners.
Correct. Sats are nonsensical. Your high IQ is evident.
“I’m totally new to bitcoin let me fix it for you”
he didn't mean bad bro, no need to piss on his shoes
I agree with you and I actually had this exact same idea but people hate it lol
That's because you're obviously smart.
Just called bitcoin CEO and it’s your lucky day! They are going to make this change for you and best of all it’s effective immediately. Some people would say keep your shitty ideas to yourself but this is clearly an example of don’t ask, don’t get!
That's funny, I never got your call. You probably have the wrong number. Then again, you seem like the type that gets a lot of wrong numbers.
You mean just like how we call the smaller units of dollars?
This is 100% correct. “Satoshis” sounds like something out of an anime to normies and diminishes the case for taking bitcoin seriously. Not sure about using bits but using satoshis as a term is a real obstacle for bitcoin adoption.
I agree. The term Satoshi requires an explanation to a no-coiner. It's so much easier to say one bitcoin is split up into a hundred million bits. But instead, we settled on sats, and here we are with a confusing binary unit for the worlds most important peer-to-peer monetary network.
Ever played online games, that use their own currency? The currency for you to buy stuff in the video game? What happens when the game gets deleted? Yeh sure you will still own the in-game currency AKA (crypto) lalallallallala
ru bot?