31 sats \ 2 replies \ @scottathan 28 May 2023 \ on: Bits or Sats bitcoin
For people confused, 1 bit = 100 sats. The idea is to make it more approachable to those coming from fiat currencies, as it will look more similar to them. In addition, 10 bits is a bit (ha) easier to say than 1000 sats. Also, now 1 BTC = 1M bits, which is kinda cool.
Good explanation of the idea here.
8 bits in a byte. 2 bits'll buy ya a shave and a haircut.
reply
Thank you for that!