Found this the other day on ZBD:
Now this may seem anecdotal, but I dont' think it is. ZBD being all about Bitcoin, people using it are people who KNOW Bitcoin, WANT some bitcoins, and are SPENDING time and energy to get some tiny amounts of BTC playing games. And yet, a good 40% of these people don't know the most basic thing about Bitcoin.
This is both worrying and instructive. Are we, bitcoiners, properly working to educate the world about Bitcoin?
1160 sats \ 1 reply \ @ek 1 Sep 2023
To be honest, I am surprised 60% got it right
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That is a pretty high hit rate for the general public.
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It may reflect the reality that sats are the standard. If you think in terms of sats and have no chance of ever owning a full bitcoin, it might be easy to forget or not care how many sats are in a bitcoin. How many pennies are in $100M. I mean, it not too hard to do the math but you'd probably get similar results in a poll asking this.
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This is how you educate IMO. I've always thought wallets need to take a more proactive role. Plus ZBD has the most normie target audience so it's no surprise here imo. So I'm glad to see a little gamified education here. We need it from all possible angles.
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ZBD is one of the big onramps. People get slightly orange-pilled and the message of "You may as well earn some Bitcoin, if you're going to waste time playing mobile games anyway." is a very easy sell.
Once they start accumulating real stacks, they're more likely to learn more about the system.
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The information is out there. The engagement with it is the problem
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Wish we could see the same poll done with the same people in 1-2 weeks from now and see the results, it is concerning but perhaps it actually helps on the education front
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To be candid, I never really used sats as a way to measure BTC until I got more involved with using Lightning.
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They should've put 21 million as an option to throw off people's pattern matching lol
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Human stupidity is a constant of the universe
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Yep
We need to start pricing things in sats. We would not care if you had a "whole coin" if we didn't know how many sats in a bitcoin.
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My partner is a bitcoiner by virtue of exposure to me, though not into the technical details. When she took this quiz on ZBD, she couldn't recall exactly how many sats were in a bitcoin, but she was able to get the right answer by process of elimination. (She knew it wasn't in the billions or small digit millions.) Which is to say that she had a "gut feeling" for what it probably was, and that's enough for her. I'm guessing that's also enough for most people.
I imagine that in a few cycles whole bitcoins won't matter as much as the daily amounts people work with will get smaller and smaller... It'll be interesting to see if a de facto standard emerges as Bitcoin becomes a unit of account. Millibitcoin (millies) or Finneys?
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Who cares? This is not a problem. If people actually used sats and bitcoin to that extent, then obviously they would know it. This is like asking random people on the street where Angola is and laughing at their ignorance. If Angola was important, people would know.
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I think this is more a case of people not being able to read that many zeros than not knowing how many sats are in a bitcoin
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Sats are not the most basic thing about Bitcoin. They're pretty basic, bit not the most basic
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You imagine that people who cannot define sats know a lot about Segwit, Taproot, fees structure or anything else relative to Bitcoin?
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You went from basic to intermediate pretty quickly there!
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my brain glazes over after that many zeros. to be honest I may have fallen into that 40% and I’m not too concerned. I run a full + lightning node, self custody and manage utxos, etc.
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