Traditional currencies are struggling to fulfill their roles effectively. Intended to act as mediums of exchange, units of account, and stores of value, these traditional forms of money falter, especially in preserving purchasing power amidst inflation and prevailing monetary policies.

Bitcoin presents itself as a compelling alternative with its decentralized structure, finite supply, and growing acceptance. However, its high value per unit and inherent volatility pose challenges for its adoption as a daily medium of exchange. A potential solution to these challenges is the use of Bitcoin satoshis (sats), the smallest units of Bitcoin, as a metric for everyday transactions. This approach leverages Bitcoin’s strengths as a financial network to create a dynamic monetary system. We need to bridge the gap from Bitcoin as a store of value to a medium of exchange and a unit of account.

Where can we start? By focusing on satoshis as a transactional currency, we could significantly enhance Bitcoin's usability in daily commerce. This shift could mark a significant step towards realizing Bitcoin's potential not only as a store of value but also as a practical, everyday medium of exchange, and eventually as a unit of account.

The concept of money has evolved from tangible commodities to digital transactions over centuries. Despite these advancements, the quest for an ideal form of money—secure, stable, universally accepted, and easy to transact—continues. Bitcoin has addressed many challenges of traditional currencies through its innovative features, but to fully capitalize on its potential, it must become a viable option for daily transactions.

Currently, while Bitcoin excels as a speculative asset and a store of value, its role as a medium of exchange is limited by its high valuation and transaction costs. This restricts its practicality for small, routine transactions. By shifting our focus to satoshis, we could bridge this gap, turning Bitcoin into a more accessible and practical currency for everyday use. How? Sats need to operate on both centralized and decentralized networks. Essentially, sats are the rebranding needed to bridge that gap—sats in your wallet, sats in your expense history.

I'm not suggesting a radical move to use sats as the sole currency. Initially, we need to demonstrate to a broader audience how holding sats can improve the purchasing power of their local currency over time.

It’s not just about enhancing Bitcoin’s functionality but about rethinking what money can be in the digital age. Let's consider how we can make digital currencies like Bitcoin more relevant and practical for everyday transactions.

What I'm saying is that Sats are cheap. We've seen people jumping on xrp, doge and so many other printed-out-of-thin-air tokens (that have no real intrinsic value) only because they believe they can afford it. Sats-first approach would allow the masses to join the massive bullrun that bitcoin continues to deliver.

And I agree, we are far away from sats being able to be money but I believe it's time for sats denominated markets.

wow. I just wanted to share and quote this tweet I just saw:
https://twitter.com/bitcoin__apex/status/1691886458578079945

"In about 8 years, a little more than 1 Satoshi per person is created every day"

- to @rikybrosh:
I agree, familiarising people with satoshis is cruical for this to happen;

- to @lionheart78
If largest economies (countries) would ever hold any bitcoin, I can clearly see people being able to transact in sats. And the thing with ideas is that somebody has to work on them for them actually to come to reality

- to @Fortify
from where I stand, The bitcoin network is a settlement layer, and technically speaking there will be derivatives circling around all the other networks. Like is usdt actual USD if it's running on ethereum or polygon? There are thousands of centralised and decentralised networks where any asset can flow. Bitcoin network provides us with security, scaling can be done in so many ways.

I think that the Sats-first approach would make it easier for people and small businesses to accept it as a form of money. It's almost impossible to sell a lemonade at a stand for 0.000036 BTC, and it's much easier to say it costs 360,000 sats.

And I agree to your remarks about all the values that Bitcoin as a network holds.

what if Sats are streamed through all the available networks?

In my opinion "the a reason why dollar isn't pegged to gold anymore" and its implications, is exactly why Bitcoin was created.

And I'm not even suggesting that countries should adopt Sats as the form of money but people could. One of the foundations of "money" is to be a store-of-value because you want to save it for the later day. In today's environment people are being stolen from via inflation.

If governments would want to spend more they would pay people and businesses a decent interest on their sats deposits.

I agree we are far away from being able to pay salaries in sats but getting paid for a small good or service makes a lot of sense to me.

My apologies if I'm biased. Truly appreciate your feedback!

Thank you all for sharing your opinions! I understand that most of the feedback is negative, and I accept that perspective. It's worth remembering that many groundbreaking ideas initially sounded crazy or unjustified.

Since the inception of Bitcoin, I believe that many of us have deepened our understanding of the theoretical and practical aspects of money.

Now, what intrigues me the most is the comparison between a sats-first economy - where sats are deflationary by nature - and the current system, where currencies are inherently inflationary. it seems that by the nature of it, people would tend to be saving more. Because tomorrow on average these sats would provide one with greater purchasing power.

- Form of money. There are countries in the world where the local currency main denomination is worth less than a satoshi. Like 1 satoshi = 4.45 IDR (a pint of Beer would probably cost >50,000 IDR);
- Stability. I think that transacting in sats for day-to-day transactions would improve Bitcoin's stability because real value of bread or a service is not that volatile.

And I believe that at points there are many other currencies that are more volatile than Bitcoin.

Greetings fellow Bitcoiners,

We live in a time where traditional financial systems are constantly being challenged, and Bitcoin is at the forefront of this revolution. But what if we take this a step further? Imagine a world where the most granular element of Bitcoin, a Satoshi, is not just a fractional part of Bitcoin but a fundamental building block of our entire economy.

Here's what I'm pondering:

- Form of Money: How might the transition from thinking of Sats merely as a fraction of Bitcoin to accepting it as a distinct form of money change our economic landscape?
- Stability: What would it take for a Sats-driven economy to achieve stability, considering the highly volatile nature of Bitcoin? Could it provide a steadier foundation than existing fiat currencies?
- Fair Value: Could Sats provide an equitable value system that transcends borders and economic disparities, creating a more just financial world?

I would love to hear your thoughts, ideas, and even reservations about this concept. Your insights may not only fuel an ongoing research project but could be part of shaping a future that we all have a stake in.

Remember, the most extraordinary ideas often seem unimaginable at first. Let's explore this together and see where it takes us.

Looking forward to your perspectives!

Best,
jspree

Hi there,

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There are no fees whatsoever and you are guaranteed to get your project accepted.

On Monday we are starting a massive launch campaign addressing crypto & crowdfunding communities and it's a great opportunity to receive significant attention for your idea/project. 

Please let me know if you have a few minutes to start a campaign to raise funds for your project. Nothing to loose.

Reach me with a short pitch on janis.sprenne@gmail.com. I'll assist you with posting a project and answer any questions if you have any.

best,
jspree

'I want to link my Bitcointalk name with BTCJam's. Verification code: 447febf3-525a-4cf3-aa02-bb0a1e455dcd'