reply on: John Carvalho proposes BIP renaming sats as bitcoin \ stacker news ~bitcoin

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17 sats \ 10 replies \ @j7hB75 13 Dec \ on: John Carvalho proposes BIP renaming sats as bitcoin bitcoin

Does anyone remember millibits (mBTC) being used back in the day?

You can still specify mBTC with some common wallets now.

Offhand I know that with Electrum you can specify the transaction fee sats/vB in decimal sats/vB like fee = "3.1 sats/vB". That's not exactly mBTC, but it's kinda the same...

0 sats \ 8 replies \ @j7hB75 13 Dec

Sure, just not really common anymore.

80 sats \ 7 replies \ @1GLENCoop 13 Dec

Certainly not common enough.

Just for the record, I like calling Bitcoin "Bitcoin", and sats "sats".

I don't know the answer to "how many msats are in 1 sat?", but I understand what 3.1 sats means.

I know that 1 Bitcoin = 1,000,000 sats.

Renaming sats to bitcoin is stupid and just causing more confusion.

If normies have unit bias with bitcoin's price, that's their own fault, don't make it mine.

101 sats \ 0 replies \ @ek 13 Dec

I know that 1 Bitcoin = 1,000,000 sats.

1 bitcoin = 100,000,000 sats

28 sats \ 0 replies \ @j7hB75 13 Dec

Renaming sats to bitcoin is stupid and just causing more confusion.

Yeah, totally agree with you there.

1 sat \ 4 replies \ @OgFOMK 13 Dec

There a re 1,000 mSats in a Sat.

There are 2,100,000,000,000,000,000 mSats in the Bitcoin protocol of Layer 2. That's 2.1 Quintilian.

There are 2,100,000,000,000,000 Sats to play with on chain. That's 2.1 Quadrillion.

44 sats \ 1 reply \ @ek 14 Dec

lightning can go lower than msats, it's just a unit attached to an invoice, see BOLT11:

Human-Readable Part

The human-readable part of a Lightning invoice consists of two sections:

prefix: ln + BIP-0173 currency prefix (e.g. lnbc for Bitcoin mainnet, lntb for Bitcoin testnet, lntbs for Bitcoin signet, and lnbcrt for Bitcoin regtest)

amount: optional number in that currency, followed by an optional multiplier letter. The unit encoded here is the 'social' convention of a payment unit -- in the case of Bitcoin the unit is 'bitcoin' NOT satoshis.

The following multiplier letters are defined:

m (milli): multiply by 0.001

u (micro): multiply by 0.000001

n (nano): multiply by 0.000000001

p (pico): multiply by 0.000000000001

This means that a lightning invoice for 100k sats starts with lnbc1m because 1 mBTC is 100k sats.

0 sats \ 0 replies \ @OgFOMK 14 Dec

Nice! This also shows that lightning is ready for the deflation activities of the increased buying power of Bitcoin.