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Will bitcoin ever get to the point where sats must be fractionalized into smaller parts? Call them "fracs."
I'm not trying to "put the cart before the horse" and it's critical to "stay humble." Still, with bitcoin knocking on the door of $100,000, it's okay to proactively think ahead. So...dream with me for a moment.
Back in 2017, I wrote about what I called "Satoshi Day"...the day that the smallest unit of the dollar, a penny (or one cent) is equal to the smallest unit of bitcoin, one sat (view post at BitcoinTalk, Reddit). That would occur if and when 1 bitcoin ever is listed at $1 million USD.
I was kind of wrong then about the smallest USD unit though. Recently, thanks to this Stacker News post, I learned that about the mill. Although I see it all the time on the gas signs, I've never completely understood it. Evidently, the "mill" is actually an official unit of USD measure. It is 1/10th of a penny (or, 1/1,000th of a penny). When bitcoin reaches $100,000 USD, one sat will equal 1 mill. I guess that would be "mill day" and that's neat. Mill Day will be a great day. But for me, I want to see Satoshi Day...when that penny in my pocket is worth a satoshi. Right now, my penny gets me basically 10 sats. But, Satoshi Day, that'll truly be a great day.

And then...

What about from there? If we get to that point, to Satoshi Day, and go farther, will we ever need to subdivide the sat?
Right now a penny is plenty small in terms of purchasing power. There's no need to fractionalize the penny (although it's done via the mill). There would be no need to subdivide a sat. But, with sats, maybe, just maybe, one day in the future, we actually will need to change from sats to fracs.
Do you think fractions of sats will ever be needed?
How could that possibly even be done technically? Or is it at all? (I really don't know.)
It's okay to dream big, but, stay humble bitcoiners.
209 sats \ 3 replies \ @fm 21 Nov
Milisats are already used on L2
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yep, only those that didn't run a LN node in their life don't know about msats.
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I figured it would have to be an L2. I'm assuming there's no way to do it on-chain aside from a fork of some type. I could be wrong, people are ingenious at coming up with novel solutions to things.
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precisely.
Not another goddamn naming conflict (sats vs mbtc vs fuck-knows)
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21 sats \ 0 replies \ @go 21 Nov
Mill Day Cometh
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i propose that if this happens, sats should be called sracs! Ahah
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