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The title for this SN post came from a Tweet by @InPHARMaticist
What's more important, the arbitrary name selected for various Bitcoin denominations, or staying consistent with terminology so new people don't get confused?
Discuss.
It's useful to do a check here on location bias, since there are literally billions of people that don't use "," as thousands separator and don't separate the digits in the groups of three. Further, there are many countries where their day to day money is in hundreds of thousands. E.g. you can buy a decent lunch for 1,131,750 VND.
Also there is some nice symmetry in doing 0.00'123'000 BTC (=123k sats) It has 9 digits separated into groups of three.
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I thinks bits would’ve been a better name than sats, because it inherits the halo of bitcoin, but I don’t think it’s worth changing due to the switching costs.
As for other denominations, I don’t think they’re relevant yet - all the fun is happening in micro and macro amounts.
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BTC and sats are fine as is.
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If there was a unicode character for sats that was good, and everyone agreed on, this might already have been solved.
At first, I didn't like the Sat Symbol. It has grown on me. But I don't really care. Pick one and we go with that.
Unfortunately, the Sat Symbol is not an existing Unicode character (yet).
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I've started seeing a number of people have started using this avatar (Japanese character for "bountiful") for their Twitter account avatar.
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Here's an example: @hellofarhanx
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I wouldn't be against this variation either ... I rather like it!
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The base unit of the bitcoin protocol is the satoshi (sats).
A sum of 100,000,000 sats are represented in the bitcoin client software and throughout the ecosystem as being one bitcoin. But no such thing actually exists in the protocol.
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My opinion, think long term.
In the long term, there is only Sats.
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