Source: Parker LewisBitcoin creator was open to the ideaRobin Linus, the creator of the Bitcoin Virtual Machine (BitVM), highlighted that even Bitcoin’s pseudonymous creator, Satoshi Nakamoto, was open to changing how Bitcoin’s units are displayed for the purpose of usability.“If it gets tiresome working with small numbers, we could change where the display shows the decimal point,” Satoshi said in a February 2010 post before vanishing the following year.“Same amount of money, just different convention,” Satoshi added.
Dorsey pointed to a December 2024 discussion on the topic where Stevie Lee, product lead of Bitcoin infrastructure firm Spiral, argued that not enough people know or care about what satoshis are.“Everyone knows Bitcoin, no one knows sats, people just want to send and receive Bitcoin,” Lee said, recalling past conversations where people thought satoshis were an entirely new token, unrelated to Bitcoin.
Magdalena Gronowska, a self-described Bitcoin consultant, claimed that the change could make some people think that Bitcoin abruptly crashed from its current price of around $100,000 and that its “supply has massively inflated.”Zaprite business development lead Parker Lewis argued that sats were easier to understand.
or
Share This Story
Article Details
Author / Journalist: Cointelegraph by Brayden Lindrea
The story "‘Sats’ vs ‘bits’ debate reignites amid proposal to change Bitcoin base unit" has 488 words across 16 sentences, which will take approximately 3 - 5 minutes for the average person to read.
Which news outlet covered this story?
The story "‘Sats’ vs ‘bits’ debate reignites amid proposal to change Bitcoin base unit" was covered 15 hours ago by Coin Telegraph, a news publisher based in United States.
How trustworthy is 'Coin Telegraph' news outlet?
Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news.
The outlet is headquartered in United States and publishes an average of 44 news stories per day.
It's most recent story was published 7 hours ago.
What do people currently think of this news story?
The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
