8 bits in a byte. 2 bits'll buy ya a shave and a haircut. 

Undergotten

antoshinakamoto

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.

bitcoin

Bits or Sats

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](https://bitcoinmagazine.com/culture/renaming-the-smallest-units-of-bitcoin).