Believe it or not I am seeing a lot of new support for this BIP, so I made sure to address all public comments, including noting the interaction with "sats" ... anyway, Make Sats Bitcoin Again!
https://github.com/bitcoin/bips/blob/9a8326225e2d9fd5257a9f03abe407aea9c65af9/bip-0177.mediawiki
Do we really need a BIP to know that sats are the standard?
Since money is a social construct its better for it to be learned through that medium.
Take a look at the details of the BIP. The core intent is to correct how bitcoin is displayed due to people misunderstanding it as supporting floating point while it is actually integral.
Who cannot understand that 1 BTC = 100M sats is a fucking moron Is so fucking simple:
Anything else is a fucking IDIOCY.
We need @DarthCoin's teachings and ideals to be taught in schools.
Thus we assure that the next generation of Bitcoiner is well awake.
I'm sure he's a great guy IRL.
perhaps you forget that half of people have an IQ lower than 100.
RENAMING base unit is unrealistic. There will be always a split between old-naming-users and new-naming-users. Some wallets will get updated. Some will not. It's would be a mess having name collisions like that.
For something realistically doable you need backward compatible change.
More realistic proposal is to DROP the 'bitcoin' name as a unit. Bitcoin name could refer only to the protocol/network. And the currency unit would be sats. If some wallets would lag or not apply the change it would not be a big deal. Eventually everyone would converge to new convention without any name collisions on the way.
This is just an EGO-BIP. Don't hurt his ego....
I understand that you think dropping the name bitcoin from Bitcoin is realistic.
Just read my reply carefully. It contains all the information you need to learn my opinion without twisting it. Here are the relevant parts:
"RENAMING base unit is unrealistic. (...) More realistic proposal is to DROP the 'bitcoin' name as a unit."
Don’t mind it but it’s too late. Inertia.
there was a time before "sats"
Yes, and a lot has changed since then. People are used to sats, they are likely to continue to use sats unless something significant compels them otherwise.
I did the math a while ago. There's probably less than 100k people who know what a sat is. Less than 10k who actually use the word sat regularly and/or care about it.
That's 0.0001% of the world's population. Bitcoin is for the remaining 99.99%
That's fair.
I am not one of those people. I feel clowny saying "sats".
Is this hat for sale?
But this BIP would clear up a lot of confusion. Personally I hate the decimal UI.
Use sats as the denomination and you don’t have decimals.
Not all apps/wallets do this
Which wallet are you using that doesn’t have this setting?
SideSwap is one most exchange wallets don’t use sats denomination plus like the BIP explains it’s all bitcoin
That’s the point: it will never be "all bitcoin" or do you really think every single wallet out there will make this BIP their default?
Stacker News will never support this BIP as long as I’m a part of it.
Never is a strong word to use. I doubt every single wallet will but I’m for lowering the confusion for the common user. Besides wasn’t sats created by shitcoin exchanges? Is it in the white paper?
Just tell everyone to use satoshis. Way less retarded than this BIP that tells everyone to replace a word with another word. This BIP is increasing the confusion for the common user.
Really? This is one of your arguments?
I’m done here
LOL now you spit more lies to create more confusion into those that don't know the history of Bitcoin. Here is who created the term sats/satoshis in 2010 when were not even existed shitcoin exchanges.
https://bitcointalk.org/index.php?topic=369.msg22160#msg22160
Any decent LN wallet is using sats as denomination (except Bitkit). BTC is only for onchain.
is probably a good sign for you to stop using it
Worst idea
Show us
for example
Link? You just sent me a screenshot of your own tweet.
it's photoshopped you shouldnt believe me
I don’t believe you, that’s why I asked for a link.
x.com
Are you kidding? How can you expect us to take the proposal seriously?
I think this is a good idea. I've seen so many people confused by UIs that flip between bitcoin and sats. Then they also get confused why there's 100 million satoshis in a bitcoin (not 100 sats per bitcoin like cents to the dollar). Then they get confused by sats vs satoshis, etc.
I've said several times that I like the idea. To be effective it needs support from people with very powerful distribution.
Block survey from a couple years ago. I'm with you John
I'm already feeling like a whale
You're welcome! :)
From your security considerations:
So you think it will be easier to explain to people that bitcoin might not mean bitcoin because some wallets might mean satoshi because they support this BIP while others not, instead of just telling them that 100M satoshis = 1 BTC?
read what you just wrote as if you were the crazy one and see how much more complicated yours is
In your proposal, you still referring to the current bitcoin as BTC, ca you elaborate on it?
is BTC the unit used by financial systems so it stays unchanged? I mean why
when everything else SHOULD change?
It's this way because of the formal feedback that was given about the BIP. So I acknowledge that stock tickers are rationally an external spec.
Properties of MoneyProperties of Money
I think that would confuse people even more. Nowhere in the Bitcoin docs already don't say that is uses floating-point numbers.
I support this. The code refers to bitcoins as a sum of the base unit, so that would mean that the original intent satoshi had with the first code was to think of the smallest unit as bitcoins.
Hey OP with all due respect... GFY
Thanks
The confusion with names is just a matter of adapting to new concepts for those who start to have bitcoin. I don't see any use for this BIP considering that in the future this opens the way for name changes to suit current users within the code, and a hardfork would be needed for this.
I personally don't like the term "sats", but it's a consensus like in a living language, so I'll keep using it.
there's a Russian proverb: when cat has nothing to do he licks his nuts
Wow, I'm gonna support you:
what a bullshit