Is This A Good Idea? New Bitcoin Pricing Model - Pricing In Sats

[Algominer2]

I heard recently that's there's a proposal to start pricing Bitcoin not in the cost of 1 BTC but in 1 satoshi. The idea being to make it seem much cheaper to stack bitcoin.

If my math is correct, it would cost $0.00106 per satoshi, making feel very easy to think about staking sats. Heck, with $100 you could buy 94,339.62 sats! AMAZING!!!

Or is it? What is an insitution wants to buy $1billion of bitcoin. How many sats is that???

I kind of like the idea for making it seem affordable for retail to jump in but not sure it's practical.

Do you think pricing by sats is a good idea?

[betswift]

What makes you happier getting more BTC - it's yours to grab.

Though I think it's too early to use such a pricing currently.

And you can do the math for the amount of sats yourself or ask an AI

[Charles-Tim]

Probably the rumour may start from this proposal: What do you think about BIP 177

As they want to change the base unit from sat to bitcoin. This proposal will not be acceptable. I prefer BIP 172 which will make sat to be the standard base unit officially.

The idea would have been good but 1 BTC can not be 100,000,000 bitcoin because BTC is the same as bitcoin.

[fikrett]

Probably the rumour may start from this proposal: What do you think about BIP 177

As they want to change the base unit from sat to bitcoin. This proposal will not be acceptable. I prefer BIP 172 which will make sat to be the standard base unit officially.

The idea would have been good but 1 BTC can not be 100,000,000 bitcoin because BTC is the same as bitcoin.

The glory of Satoshi should be preserved, I agree with that, and not only that, but the main point being that it wouldn't change anything in the perspective.

[notocactus]

I heard recently that's there's a proposal to start pricing Bitcoin not in the cost of 1 BTC but in 1 satoshi. The idea being to make it seem much cheaper to stack bitcoin.

satoshi is one of Bitcoin units and you can make a chart with any of Bitcoin units, it's not big matter. The fact behind this is the same, reflection of Bitcoin price through different units.

The following chart is Satoshi per dollar which is an inverse chart of $ per satoshi chart. Instead of showing how much does 1 satoshi cost, it show us an inverse information: how many satoshis one $ can buy over time.
https://charts.bitbo.io/satoshi-per-dollar/

[thecodebear]

It's a very dumb idea. There is zero reason to change the naming for Bitcoin units. It would only confuse people and have zero upside. It would purely be a negative thing.

[Algominer2]

satoshi is one of Bitcoin units and you can make a chart with any of Bitcoin units, it's not big matter. The fact behind this is the same, reflection of Bitcoin price through different units.

The following chart is Satoshi per dollar which is an inverse chart of $ per satoshi chart. Instead of showing how much does 1 satoshi cost, it show us an inverse information: how many satoshis one $ can buy over time.
https://charts.bitbo.io/satoshi-per-dollar/

Thanks for sharing the chart, really interesting!

I guess what this got me thinking about is whether it's really a problem that people feel "out priced" when considering buying bitcoin because the price of 1 BTC is just so high. It feels like the idea of pricing in sats is like a stock split.

Personally I feel that retail would love to be able to show that they hold a really big bag of sats rather than a tiny bag of BTC.

[notocactus]

It's a very dumb idea. There is zero reason to change the naming for Bitcoin units. It would only confuse people and have zero upside. It would purely be a negative thing.

OP did not want to change names of Bitcoin units that overwhelming with me for remember them all.
[Did you know?] Bitcoin Table of Units

Rather than changing names of Bitcoin units, OP suggested to show Bitcoin price in smaller units of Bitcoin, not in Bitcoin. In many Bitcoin wallet softwares, you can customize it to bitcoin, mBTC or satoshi for example. It just different unit visually and the fact behind it is the same as your portfolio does not become bigger or smaller by changing a unit.

Personally I feel that retail would love to be able to show that they hold a really big bag of sats rather than a tiny bag of BTC.

Who are in Bitcoin don't think this way but altcoin enthusiasts think like you. They love to hold as many coins, tokens as possible in numbers and don't care about quality of a project and its future. Altcoins mostly have kind of most common ending - death.

[Algominer2]

Who are in Bitcoin don't think this way but altcoin enthusiasts think like you. They love to hold as many coins, tokens as possible in numbers and don't care about quality of a project and its future. Altcoins mostly have kind of most common ending - death.

People I speak to outside of the crypto community aren't even aware that there are small demoninations of BTC, so I have had people actually tell me they can't afford to buy it (because they can't afford $100k).

I agree that within crypto circles, degens just want a massive bag of anything, but human psychology must play a role here and often people chrish having a large quantity of something rather than a small quantity of something even if the value is the same.

[Wetfinex]

It's a very dumb idea. There is zero reason to change the naming for Bitcoin units. It would only confuse people and have zero upside. It would purely be a negative thing.

I think the idea of pricing Bitcoin in satoshis actually has some potential, maybe not right now, but in the near future. The high price of 1 BTC can be intimidating for new users, and switching to satoshis makes Bitcoin feel more accessible. It's similar to how we use cents instead of dollars—it makes it easier for people to understand and think about owning a fraction of Bitcoin. It’s not about changing Bitcoin, just making it more relatable. With the right education, this could encourage more people to get involved and benefit the overall ecosystem.

[m2017]

If my math is correct, it would cost $0.00106 per satoshi, making feel very easy to think about staking sats. Heck, with $100 you could buy 94,339.62 sats! AMAZING!!!

And indeed, it is amazing. These are the miracles of self-deception that happen.

In fact, psychologically, the cost of sat. is perceived as "more accessible", since with the growth of bitcoin it becomes problematic for ordinary people to buy the whole btc.

Or is it? What is an insitution wants to buy $1billion of bitcoin. How many sats is that???

What's the difference? Personally, I don't care about knowing this.

Let anyone think as they see fit.

I kind of like the idea for making it seem affordable for retail to jump in but not sure it's practical.

Do you think pricing by sats is a good idea?

It all depends on perception. 0.01 BTC or 1 000 000 sat. are the same thing. No matter what angle you look at it from, your wallet balance won't change.

[Dogedegen]

Probably the rumour may start from this proposal: What do you think about BIP 177

As they want to change the base unit from sat to bitcoin. This proposal will not be acceptable. I prefer BIP 172 which will make sat to be the standard base unit officially.

I don't  think it is necessary to do it, but I see benefits. I mean we could just standardize sats and remove everything in between so that there are only 2 options. BTC and sats.

The idea would have been good but 1 BTC can not be 100,000,000 bitcoin because BTC is the same as bitcoin.

This idea is horrible, and it is likely that the authors are malicious actors that are trying to damage BTC. You can already see the news headlines, how we printed a new Bitcoin by a factor of 100 million. Remember, the truth is not relevant in the current world it is chaos and clickbait confusion that sells.

I kind of like the idea for making it seem affordable for retail to jump in but not sure it's practical.

Do you think pricing by sats is a good idea?

It all depends on perception. 0.01 BTC or 1 000 000 sat. are the same thing. No matter what angle you look at it from, your wallet balance won't change.

These ideas come from memes that have ridiculously high supply. The idea being that having millions of something is better than having 0.01 and that this will attract people. Reality shows that this is incorrect.

[Ucy]

That could have a "psychology" effect on the price of Bitcoin with a total supply looking so inflated and less scarce. And having the highest denomination of Bitcoin (1 satoshi) worthing less than a dollar would make it look like dollar is more valuable or worth more than Bitcoin.


It's therefore pointless and unnecessary to change the pricing model at the core level. The originator of the proposal can choose whatever standard they want rather than imposing it on the rest of Bitcoin users. I actually prefer the original pricing model because it makes Bitcoin look scarce, easier to count, and valuable than dollar, without limiting the least amount of satoshi that can be owned if fee is insignificant

[mindrust]

It is a good idea when you are pricing low value items like a cup of coffee or a six pack beer… It becomes easier to use the regular model when we are talking about cars, real estate. In other words you can use both models in different situations. Whichever suits your needs best, just use that one. It is weird to type 0.00014828 btc imo. I’ll rather say 14828 sats instead in this case but it is equally stupid to type 162828924 sats instead of saying 1.62 btc. You see the difference now? We need both models. It is not only one or the other.

[Dogedegen]

It is a good idea when you are pricing low value items like a cup of coffee or a six pack beer… It becomes easier to use the regular model when we are talking about cars, real estate. In other words you can use both models in different situations. Whichever suits your needs best, just use that one. It is weird to type 0.00014828 btc imo. I’ll rather say 14828 sats instead in this case but it is equally stupid to type 162828924 sats instead of saying 1.62 btc. You see the difference now? We need both models. It not only one or the other.

I would say that it is weird for you, but not necessarily weird for someone else. And exactly because of this, both of these should be available. I personally like typing the decimal values, but this depends a lot on the person and prior experience with using it. Those that have used sats a lot more than me, probably now prefer sats strongly.

It's therefore pointless and unnecessary to change the pricing model at the core level. The originator of the proposal can choose whatever standard they want rather than imposing it on the rest of Bitcoin users. I actually prefer the original pricing model because it makes Bitcoin look scarce, easier to count, and valuable than dollar, without limiting the least amount of satoshi that can be owned if fee is insignificant

There is no chance that it will be adopted at a "core level", meaning that there is no chance that the developers force the use of sats. What should be done is to standardize units and get rid of things that are in between. BTC and sats is all we need.

[avikz]

I heard recently that's there's a proposal to start pricing Bitcoin not in the cost of 1 BTC but in 1 satoshi. The idea being to make it seem much cheaper to stack bitcoin.

If my math is correct, it would cost $0.00106 per satoshi, making feel very easy to think about staking sats. Heck, with $100 you could buy 94,339.62 sats! AMAZING!!!

Or is it? What is an insitution wants to buy $1billion of bitcoin. How many sats is that???

I kind of like the idea for making it seem affordable for retail to jump in but not sure it's practical.

Do you think pricing by sats is a good idea?

This is a very cleaver marketing strategy which changes the perspective of a potential buyer. It makes sense as well.

I think eventually we will have to move to such pricing in the future. Bitcoin is not going to stop at the current level and it is expected to go a lot higher. So unless and until we move to such pricing strategy, it will be difficult to find new people to adopt Bitcoin at a higher price range.

I wholeheartedly support this proposal to be honest!

[Theupdude]

Yeah pricing in sats could make bitcoin feel more approachable psychologically especially for novices who see one whole bitcoin's price and experience sticker shock. It's like cutting a dollar into pennies suddenly things become more manageable. But you're right about the institutional side. A billion dollars would be 94,339,622,641 sats which looks ludicrous on a trading screen. Maybe exchanges could give both views sats for normal investors and BTC for whales

[NotFuzzyWarm]

Only an idiot would think that 1BTC is as low as it can be divided and bought/sold.
Do folks think 1$ is the smallest unit? Or 1 oz is the smallest unit for gold? No. All can be divided down to much smaller units. They are just the base units. It's called using decimals...

You want smaller units, then just use mBTC or µBTC. For a perfect example see, https://bitcoinity.org/markets/coinbase/USD

[tabas]

What is an insitution wants to buy $1billion of bitcoin. How many sats is that???

100M sats is equal to 1 BTC. You do the math.  

I kind of like the idea for making it seem affordable for retail to jump in but not sure it's practical.

Do you think pricing by sats is a good idea?

It's fine, but either is fine if it's going to be still with btc and then some decimal points. What matters is the adoption that's happening from these institutions. They surely want to have Bitcoin as much as they can. And I think that there was already a discussion like this in the past about what Bitcoin will be called by the majority if it's not a whole one and just sats or mBTC.

[AmoreJaz]

Only an idiot would think that 1BTC is as low as it can be divided and bought/sold.
Do folks think 1$ is the smallest unit? Or 1 oz is the smallest unit for gold? No. All can be divided down to much smaller units. They are just the base units. It's called using decimals...

You want smaller units, then just use mBTC or µBTC. For a perfect example see, https://bitcoinity.org/markets/coinbase/USD

That is true, you can just get the equivalent amount of 1 sat based from the existing price. And definitely, you can buy any number of satoshi depending on the amount you want to buy. There's no need to change what we have here in the market.
Otherwise, a certain business platform can have their own breakdown of btc and that's their prerogative. But for the general market, we need certain basis and for now, it is still working. Changing it means changing the perspective of this market in a different light and it would need quite some time for people or consumers to adjust.