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28 sats \ 5 replies \ @028559d218 13 Dec \ parent \ on: John Carvalho proposes BIP renaming sats as bitcoin bitcoin
It's not so much marxist... as there is a serious 'unit bias' for Bitcoin vs sats.
It's everywhere. People see 'oh 100k forget that'.
But the dogcoin? Oh that's cheap i'll get that one!
However this would take a long time to implement and there's no way it would turn out uniform
The unit bias is innumeracy. To be quite honest if we had more decimal places in fiat currency there would be no need to print higher denomination bills. These tokens are merely means to exchange value and if the currency is tight in circulation a business person will say:
Vendor - "OK, Jack, I understand that you don't have a full penny for this candy. Do you have a half penny?"
Jack - "Why yes, I do have a half penny."
Vendor - "Well just pay me that and you can keep the candy."
This is sales! Instead, we have been psyched out of using change and the register doesn't do tenths of a penny... But the gas stations do!
If you fundamentally understand math, money and exchange then you can navigate value very easily. My first amplifier for an electric guitar I bought with $120 USD in 1987. I saw the MSRP (Manufacturers Suggested Retail Price) or sticker price of $200 and I kept pacing back and forth at a mall guitar store. I was a skinny punk rock dude and the salesman said, "You want to try it out?" I said, "Yes!" It was a beautiful Crate Amplifier. I tried it out and I was think that I have to have this.
The salesman said, "Are you ready to buy it?" I told him that I didn't have enough money. He said, "How much do you have?" I told him $120. We didn't use credit cards. He said, "I'll take it." Wow! I negotiated and I didn't even know it. Lesson learned. The salesman knew that the bottom line is that he get sales to pay the bills. He needed liquidity. Liquidity is how the gas stations and other businesses use decimal values to accumulate while we are stuck with higher denominated cash and we in turn forfeit value to them.
The point is that the smaller units of Bitcoin are already in use and people who cry about 100,000,000 sats in one Bitcoin don't understand anything. They only understand that it's $100,000 USD for one and they can't have it. They also want to immediately sell a whole coin for another ungodly price. They are innumerate.
Now the Marxists, well they want you to be confused, trendy and poor. They are the ones who want to dumb everyone down so that they can have slaves. If you can't see that then you might be in the golden cage.
Finally the term sat is the root of the Satoshi name. It literally means "truth" in Sanskrit which is where the Satoshi nym derivative comes from. It's a Japanese cognate to suggest a man who embodies truth. The basic unit of Bitcoin is "truth".
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Thank you... I had never heard that explanation of 'Satoshi' before!
Something something Japanese (central intelligence LOL) but I hadn't heard the bit about Sanskrit. Incredibly interesting!
Yes and you are right. The thing about Bitcoin's price... is that it isn't really that important.
1000 sats per dollar... that's it. For 10 dollars, someone can buy 10,000 sats approximately, and the sats are just that... sats! That's why it doesn't matter what the exchange rate is, Bitcoin is just money and a powerful, scarce savings account!
As far as the 'can't have one' crowd... they can do like anyone else and
- pick up a second job
- pick up extra shifts at work
- save long term
- reduce expenses (costs) and increase cashflow (for example through employment)
There is no 'get rich quick' scheme, just hard work and saving.
From what I can tell, Bitcoin is extremely liquid, traded in huge volumes every day, not to mention being embraced by individuals, companies, and eventually countries! (US!)
The earlier that people realize that 1 sat = 1 sat the earlier they start stacking! The exchange rate being unimportant! 1000 sats just as valid and important to the individual as 1000000 sats... and seed phrases are created equal.
Bitcoin is for saving
<3
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Satya (Sanskrit: सत्य; IAST: Satya) is a Sanskrit word translated as truth or essence.[3] It also refers to a virtue in Indian religions, referring to being truthful in one's thoughts, speech and action.[4] In Yoga, satya is one of five yamas, the virtuous restraint from falsehood and distortion of reality in one's expressions and actions.[5]
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wonderful!
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