This is still a huge misunderstanding. There are a lot of people out there who think they need to buy a whole Bitcoin. More exchanges should introduce Sats as the standard. What you think?
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0 sats \ 1 reply \ @DarthCoin 31 Aug 2022
Indeed. Sat is the standard.
I always setup my wallets in this way:
- hodling wallets (onchain) display BTC unit
- spending wallets (LN) display sats unit
- BTC/LN node displays sats unit
https://www.pricedinbitcoin21.com/ is a good reference also to start thinking in sats and forget about fiat shit.
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1 sat \ 0 replies \ @21bitcoinApp OP 31 Aug 2022
Very nice SetUp Indeed!
I love pricedinbitcoin21. Truly amazing website to get a "feeling" for Sats as the standard unit of account.
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10 sats \ 1 reply \ @CarlBMenger 31 Aug 2022
That's exactly how I see it. Exchanges have a duty to educate users about what sats are and to implement sats as a calculation unit, so users get familiar with it.
Shitcoin casinos won't do that because they only want to sell other things and their own scam token to their customers. That's why I support Bitcoin-only companies. Those are the really important players in the next couple of years for Bitcoin adoption.
By the way, you guys doing a great job!
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0 sats \ 0 replies \ @21bitcoinApp OP 1 Sep 2022
Thank you. We're trying to do our best to bring Bitcoin to as many people as possible.
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0 sats \ 3 replies \ @TomApollo 31 Aug 2022
I really don't think it makes a difference. There is probably a little bit of retail money that doesn't enter bitcoin due to unit bias.
But is this money material? Would these people actually hodl or would they sell as soon as it dumps anyway? I'm skeptical
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0 sats \ 2 replies \ @21bitcoinApp OP 1 Sep 2022
Well, I know a lot of people who see the exchange price and think it's too expansive and buy "cheaper" coins. No one is looking at market cap.
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0 sats \ 1 reply \ @DarthCoin 1 Sep 2022
you mean market crap... https://coinmarketcrap.co/
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0 sats \ 0 replies \ @21bitcoinApp OP 1 Sep 2022
Haha... yes indeed.
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0 sats \ 3 replies \ @2bithits 31 Aug 2022
There's only 2 quadrillion 100 trillion sats.
Give everyone on earth 1 sat each and it becomes 2 quadrillion 92 trillion sats only
bitcoin is rare, sats are abundant
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20 sats \ 2 replies \ @21bitcoinApp OP 31 Aug 2022
Just because you divide a pizza into 16 pieces instead of 8 doesn't mean you have more pizza, right?
Satoshi Bitcoin
1 Satoshi 0.00000001 Bitcoin
10 Satoshi 0.00000010 Bitcoin
100 Satoshi 0.00000100 Bitcoin
1,000 Satoshi 0.00001000 Bitcoin
10,000 Satoshi 0.00010000 Bitcoin
100,000 Satoshi 0.00100000 Bitcoin
1,000,000 Satoshi 0.01000000 Bitcoin
10,000,000 Satoshi 0.10000000 Bitcoin
100,000,000 Satoshi 1.00000000 Bitcoin
Bitcoin is rare, so are sats. A single Bitcoin represents 100 million satoshis (1 BTC = 100,000,000 sats). Thus, there will only ever be 21 million bitcoin, and there will only ever be 2.1 quadrillion sats.
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0 sats \ 1 reply \ @2bithits 31 Aug 2022
True that your BTC will always be a fraction of the total supply. But like I said, everyone in the world could own 1 sat each & it would only take 80 bitcoin. Thus if everyone has the potential to own a small amount of bitcoin, it is not rare like beach front property, Lamborghini's or wholecoiners.
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0 sats \ 0 replies \ @21bitcoinApp OP 1 Sep 2022
Got it you and yea that's true. If people would use #Bitcoin to save and store their wealth, properties would be affordable again.
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0 sats \ 1 reply \ @linesgone 31 Aug 2022
It's a tough marketing challenge in many ways. User's need to understand the relationship of a Bitcoin to a Satoshi and that a sat is NOT a new coin/token/whatever.
US dollars to cents is the easiest way to explain it, at least in the west, but it isn't perfect.
Given there is no "Bitcoin Marketing Department" to create cute initiatives about this issue it is down to the exchanges (currently)... and the exchanges have ZERO incentive to do this.
The more exchanges can obfuscate and confuse things the better it is for them and their shitcoin casinos.
Lightning will likely be the best introduction to sats for the majority of users. One of those things that user's will learn as they get immersed in the product stack.
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0 sats \ 0 replies \ @21bitcoinApp OP 31 Aug 2022
You are so damn correct, Mate. All those altcoin casinos only try to sell their garbage coins and make a quick buck. However, more and more Bitcoin-only services are popping up, having Sats as their Standard.
We are also trying our best to explain bitcoin and sats to as many people as possible (https://21bitcoin.app/article/what-are-sats). Many also still think that they need to buy a whole bitcoin. It always reminds me how early we still are.
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