Breaking down a Satoshi into Nakamotos

[Sotor Donovan]

  A post to ignore.  Breaking down a Bitcoin into 100,000,000 Smaller units called a Satoshi.  Later down the line whoever controls Bitcoin Core Dev "if" will have no choice but to break down a Satoshi into another 100,000,000 units called Nakamotos whenever the block rewards are no longer whole entire Bitcoins.  And when the processing power of a cpu will forever mine Bitcoins as a unit of measure.  The new name will most likely be known as a Nakamoto.  Which is the newest smallest piece of a Bitcoin.
  This is just a random post to ignore. But if anyone would like to comment or ask any questions on this feel free!

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[Wheelige]

Why is there a need to break down a Satoshi into a smaller unit? A Satoshi is currently at 0.000076 US cents. Have you ever had the need to break down a transaction into such a small unit. A bitcoin would need to be at least 100K or even 1mil in order to have any real need, as a transactional currency, to break down to a Satoshi let alone a further set of decimals.

[franky1]

devs are already thinking of changing the limit of sharable units of measure. which makes btc less rare

EG no one cares about tonnes of gold and that there are only 175,000 sharable units of tonnes of gold.
instead people see that there are 6 billion ounces of gold. and given time people wont care about ounces and instead care about grams of gold
because people think its not fair that not everyone can have a piece gold as there is not enough ounces per pereson

same with bitcoin. people are not caring as much about the basket number of satoshi's called a bitcoin.
people are already only buying part units of bitcoin, rather than whole units of bitcoin
services and exchanges are already moging to measure of 'bits' (100 sats) because of reasons of price and the hate of measuring in multiple decimals.

but as the price goes up the even measuring in bits wont be adequate, which some core devs are already wanting to add millisats(1000th of a sat) as an option of the future. its already being concepted in the alphatest of LN

[mk4]

people are already only buying part units of bitcoin, rather than whole units of bitcoin
services and exchanges are already moging to measure of 'bits' (100 sats) because of reasons of price and the hate of measuring in multiple decimals.

I really really liked that proposal by Jimmy Song[1]. Using "bits" as a term for real life conversations sounds a lot better than saying "0.00xxx bitcoin". Though personally I'd prefer a different term as "bits" sounds too generic in my opinion.

[1] https://github.com/bitcoin/bips/blob/master/bip-0176.mediawiki

[pooya87]

this sounds to me like a mathematical confusion.

1 is equal to 1.0 = 1.00 = 1.00000000 and = 1.00000000000
in other words when you add zeros after the decimal point you are not increasing anything you are just breaking down the same thing into smaller parts. and more importantly you only do that if you NEED it. not just for fun out of nowhere!

[Leyss]

I do not think that bitcoin will grow in price so that there is a need to divide satosh into smaller units of measurement. It is necessary that bitcoin cost more than a million dollars - ten or one hundred million. This can not be in principle. I think that bitcoin will never rise in value above a hundred thousand dollars. Different factual circumstances will not allow him to do this, even if theoretically this is possible.

[HabBear]

Are we not getting ahead of ourselves?

The price of bitcoin is down 50% on the year, we're sub $10,000. We're no where near the point where a Satoshi is a unit that means something and this guy wants to name the next smallest denomination?! Your chase for fame would be better suited hawking shitty ICOs on Reddit.

[Faeton]

I think that it will not come to practical necessity to have a smaller coin than Satoshi. One hundred millionth part of bitcoin will be enough for normal relations in bitcoin. It is unlikely that the price of bitcoin will increase so much that there will be a need for crushing Satoshi. This proposal has no practical meaning.

[franky1]

this sounds to me like a mathematical confusion.

1 is equal to 1.0 = 1.00 = 1.00000000 and = 1.00000000000
in other words when you add zeros after the decimal point you are not increasing anything you are just breaking down the same thing into smaller parts. and more importantly you only do that if you NEED it. not just for fun out of nowhere!

rarity
if thre are 100,000,000 people that want.. an apple. but there was only 1 apple. that apple will get auctioned off for alot of money

now imagine slicing that apple into 100,000,000 slices. now everyone can have a slice. no need of a auction, no war,, no conflict, no out bidding. everyone gets a slice.

because everyone has one. they realise its not as special as it was. because its not rare. there are apple slices everywhere

word it another way.
if i gave you $10 bank note.  or 1000 pennies. which would you prefer.
instant reaction is $10 bank note.
because you think that most merchants wont accept 1000 pennies off you because of the hassle of counting.

then your logical mind kicks in trying to tell yourself they are both equal and worth the same

then your greed mindset kicks in and says well although they are the same. if in the world there were only 1 bank note or 1000 coins. which would gain most profit to resell at the highest price.

..
if i gave you a 175,000 tonne boulder of gold. or 6billion ounces of gold. which would you prefer

you say they are the same.. but deep down, really think about it.. are they

[pooya87]

apple.
if i gave you $10 bank note.  or 1000 pennies. which would you prefer.
if i gave you a 175,000 tonne boulder of gold. or 6billion ounces of gold.

there is a difference between these examples and bitcoin.
if put 10x 0.1BTC together i get 1 whole bitcoin and it is the same thing as if i have received 1 whole bitcoin.
but there is no way of putting 10 slices of apple together and get the whole apple.
there is no way of melting the pennies or the ounces of gold together and get the bank note or "boulder"

and breaking bitcoin down to smaller units is possible but it is not for now and possibly not for many years. it is for a time when 1 satoshi has enough value so that 0.1 satoshi is also worth something meaningful. right now it is worth $0.000075 let it reach $0.01-$0.1 then we discuss whether to do it or not.

[Roukawa]

The divisibility of bitcoin to satoshi is enough. We don't need to think much smaller unit of it since BTC has 8 decimals only. If we turn it down into smaller unit, there is a tendency that other people might confuse to the value of BTC.
Satoshi is enough for me, we don't need to modify things that in the better position right now.

[franky1]

this sounds to me like a mathematical confusion.

1 is equal to 1.0 = 1.00 = 1.00000000 and = 1.00000000000
in other words when you add zeros after the decimal point you are not increasing anything you are just breaking down the same thing into smaller parts. and more importantly you only do that if you NEED it. not just for fun out of nowhere!

oh by the way.
in bitcoin things are counted at code level as satoshi's and then multiplied by 100m to then at the user GUI side represent 1btc
so its not actually 21million units of measure limit.
its 2.1quadrillion units of measure.

lets think about it this way.
maths(not accounting for difficulty variation) says that the final halving would be around 2140
and the last satoshi mined would be 2144

but imagine 1sat could be divided by 1000

suddenly halvings dont end in 2140, and mining for 'reward' doesnt end in 2144 but somewhere more like 2178
in 2144 500millisats
in 2148 250millisats
in 2152 125millisats
in 2156 62millisats
in 2160 31millisats
in 2164 15millisats
in 2168 7millisats
in 2172 3millisats
in 2174 1millisat

also instead of only 21million people having a unit of bitcoin
or all 7 billion population having 300,000 units of bitcoin (broken down as satoshi)
all 7 billion population can have 300,000,000 units of bitcoin (broken down as millisats)

[franky1]

apple.
if i gave you $10 bank note.  or 1000 pennies. which would you prefer.
if i gave you a 175,000 tonne boulder of gold. or 6billion ounces of gold.

there is a difference between these examples and bitcoin.
[1]if put 10x 0.1BTC together i get 1 whole bitcoin and it is the same thing as if i have received 1 whole bitcoin.

[2]there is no way of melting the pennies or the ounces of [3]gold together and get the bank note or "boulder"

[4]and breaking bitcoin down to smaller units is possible but it is not for now and possibly not for many years. it is for a time when 1 satoshi has enough value so that 0.1 satoshi is also worth something meaningful. right now it is worth $0.000075 let it reach $0.01-$0.1 then we discuss whether to do it or not.

[1] actually you dont get 1btc if you put 10x0.1 together
input cost for 10 inputs means the tx to make a combined value wont give you a whole btc  (TX fee, remember)

[2] melting pennies to make bank notes?? how about going to the bank and asking for a swap. much like needing to give a signed tx to a pool to get it confirmed and have your UTXO's swapped for an combined amount utxo

[3] you can melt gold and make a gold boulder

[4] go check LN millisats are already been discussed and concepted, and soon the devs will have to include it into the onchain protocol to not cause rounding conflict of users who disagree on the channel value (yep already discussed and concepted)

but the point is. sharability
gold can be broken down into grams and dust. which is why people care less for gold. people dont realise there is more gold in their home than they would find in a ounce coin. but cant be assed to sell it because its all broken up. thus they dont value it the same as an ounce of gold

[xeomthanhpho]

Submitting satoshi will have many alt coin dump

[Kisska2710]

This is very hard to do, because the STS unit is too small. Unless a 1 BTC = 1 million USD. it just happened.

[avikz]

 A post to ignore.  Breaking down a Bitcoin into 100,000,000 Smaller units called a Satoshi.  Later down the line whoever controls Bitcoin Core Dev "if" will have no choice but to break down a Satoshi into another 100,000,000 units called Nakamotos whenever the block rewards are no longer whole entire Bitcoins.  And when the processing power of a cpu will forever mine Bitcoins as a unit of measure.  The new name will most likely be known as a Nakamoto.  Which is the newest smallest piece of a Bitcoin.
  This is just a random post to ignore. But if anyone would like to comment or ask any questions on this feel free!

Technically it is possible to divide the satoshis in to smaller units. However, the network support is critical. As per the current value of bitcoin, there is no need of doing so. However, if the price of bitcoin reaches to probably a million dollars, such smaller units will have some value and then it will be easier to calculate. However, as per the current value, these smaller units are just bound to fail.