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Author Topic: Bitcoin needs a "Metric System" revolution.  (Read 84 times)
hbqchjy (OP)
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Today at 12:50:11 PM
Merited by Don Pedro Dinero (1)
 #1

Many people look at the price of 1 BTC and think, "I can't afford that." This is a classic Unit Bias illusion.

Imagine if Gold could only be traded by the "Ton." Most people would think Gold is unattainable. But because we trade Gold in ounces and grams, everyone knows they can own a piece of it.

Bitcoin needs this same shift. We need to normalize pricing in "Bits" or "Sats" instead of full coins.

1 BTC = 100,000,000 Bits (Sats)

Here is why this shift is crucial for Gen Z and mass adoption:

1. Psychological Wealth Owning 0.001 BTC feels insignificant and scarce. Owning 100,000 Bits feels substantial and achievable. It’s not just math; it’s psychology. People want to own whole numbers, not decimals.

2. Usability for Payments Pricing a coffee at 0.00015 BTC is confusing and anti-human. Pricing it at 15,000 Bits makes sense. It brings Bitcoin back to being a currency, not just a museum exhibit.

3. The "Too Expensive" Myth Smaller units destroy the myth that you have to be rich to enter. You don't need to buy the whole bar; you just need to start stacking your first gram.

It’s time to change the denomination.

#Bitcoin #Sats #UnitBias #MassAdoption
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Today at 02:12:35 PM
 #2

Many people look at the price of 1 BTC and think, "I can't afford that." This is a classic Unit Bias illusion.

Imagine if Gold could only be traded by the "Ton." Most people would think Gold is unattainable. But because we trade Gold in ounces and grams, everyone knows they can own a piece of it.

Bitcoin needs this same shift. We need to normalize pricing in "Bits" or "Sats" instead of full coins.

Since there are smaller units of Bitcoin as you already mentioned sats, then there is nothing to do in having a number of them available, when we can invest in bitcoin even with our single $1 asset we have, all that should matter now is about the value in USD equivalence, but what we want depends on our own choice, even having sats in their millions with $1 or having bitcoin in it zero points values and still arrived at the same thing, we may not just have to compare bitcoin to other centralized currencies and their corresponding units of values.
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Today at 02:18:59 PM
Merited by vapourminer (4)
 #3

Many people look at the price of 1 BTC and think, "I can't afford that." This is a classic Unit Bias illusion.

Bitcoin needs this same shift. We need to normalize pricing in "Bits" or "Sats" instead of full coins.

1 BTC = 100,000,000 Bits (Sats)
There are many units for Bitcoin and people need to know about it but they don't actually need to remember all units, it's unnecessary for their practice.
[Did you know?] Bitcoin Table of Units
https://en.bitcoin.it/wiki/Units

Three main units to know: satoshi, bitcoin and millibitcoin, with me are enough for my practice. In Bitcoin non-custodial wallets, Bitcoin users can easily customize Bitcoin unit to their favorite one in the wallet.

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Today at 02:19:18 PM
 #4

Unit bias is real.
People don’t struggle with Bitcoin’s tech as much as its denomination. Thinking in sats lowers the psychological barrier a lot.
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Today at 02:30:59 PM
 #5

I have given you merit for your work on the post, but this is not the first time this has been discussed (far from it), nor does it look like it will happen. The main reason is the news and how shocking large figures are. No one is interested in the fact that a satoshi is worth $0.00089; what interests them is that bitcoin is worth $89,000.

In a hypothetical future where a bitcoin is worth hundreds of millions (which, if it happens, we probably won't see), the adaptation of the satoshi as a unit will come naturally, but as things stand, no way.

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Today at 02:57:56 PM
 #6

People see the 1BTC value and get scared of the price when they are thinking to buy.

They actually can buy in fractions of 0.01 BTC or much lower than that. This will be followed by more buying whenever the price falls, but often new investors are not aware of these methods of buying a costly asset.

One of the basic things a person entering bitcoin needs to learn is its divisibility to much smaller fractions, then only they will think of buying it like that.

 
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Today at 03:51:33 PM
 #7

People see the 1BTC value and get scared of the price when they are thinking to buy.

They actually can buy in fractions of 0.01 BTC or much lower than that. This will be followed by more buying whenever the price falls, but often new investors are not aware of these methods of buying a costly asset.

One of the basic things a person entering bitcoin needs to learn is its divisibility to much smaller fractions, then only they will think of buying it like that.
People can buy any fraction of bitcoin from peer to peer trade or from a trade on centralized exchange. They only need to know about dust values of Bitcoin transaction, the minimum dust value, the transaction fee at time of trade.

If they do it on a centralized exchange they will need to know minimum trade value like $5 or $10 or a minimum figure in bitcoin by the exchange terms, and if they are more careful, pay attention on minimum withdrawal figure too.

https://www.cryptowisser.com/exchanges/

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hbqchjy (OP)
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Today at 03:58:02 PM
 #8

I have given you merit for your work on the post, but this is not the first time this has been discussed (far from it), nor does it look like it will happen. The main reason is the news and how shocking large figures are. No one is interested in the fact that a satoshi is worth $0.00089; what interests them is that bitcoin is worth $89,000.

In a hypothetical future where a bitcoin is worth hundreds of millions (which, if it happens, we probably won't see), the adaptation of the satoshi as a unit will come naturally, but as things stand, no way.

Thanks @Don Pedro Dinero for the merit and the reply!
You're right—this topic has been discussed many times before. I'm just trying to bring it up again to catch the attention of more newcomers.
I totally agree that media loves big numbers. "Bitcoin hits $89,000!" grabs way more headlines than "1 sat = $0.00089". That's why sats won't become mainstream anytime soon.
Still, I'm optimistic: Bitcoin reaching $1 million per coin won't take as long as people think. Ten years ago, almost no one imagined it going from a few hundred dollars to $10k—yet it smashed through $60k, $70k, $80k... Things often move much faster than we expect. When 1 BTC is truly worth millions, pricing daily items with tons of decimals will feel ridiculous, and the shift to sats will happen naturally.
Hope we all live to see that day!
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Today at 08:28:54 PM
 #9

Maybe we need to start addressing them in sats? Already most casinos using mbtc and μBTC but people who just look for the price of bitcoin might see for the one whole bitcoin, which isn't wrong because 1 btc = 1 btc. Anyone can buy small amount of bitcoin so they need to see the clear picture rather than simply checking out the price often.

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Today at 08:45:54 PM
 #10

Still, I'm optimistic: Bitcoin reaching $1 million per coin won't take as long as people think. Ten years ago, almost no one imagined it going from a few hundred dollars to $10k—yet it smashed through $60k, $70k, $80k... Things often move much faster than we expect. When 1 BTC is truly worth millions, pricing daily items with tons of decimals will feel ridiculous, and the shift to sats will happen naturally.
Hope we all live to see that day!
Even if the price of Bitcoin gets valued worth over $1million per BTC, for me, I still don't think there should be any need to revolutionize it's metric system of representing it's value in Satoshi instead of a whole full 1 Bitcoin. Because what makes Bitcoin valuable the way it is is the high value it's been tagged, making it look expensive, despite the fact that it's finite units can still be bought and yet generally represented in decimal numbers. Because to be frankly speaking, if the metric system of Bitcoin is to be changed to Satoshi, whereby a single is been written as 100,000,000 Sats, that also means it's total supply which is 21,000,000 will then automatically be 21,000,000,000,000,000 Sats. (i.e 21 quadrillion).  And in a nutshell, what will be the difference between this and meme coins? So I'm currently okay with the structure of Bitcoin.

 
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Today at 08:59:34 PM
 #11

You know what.  I disagree.

Bitcoin used to be a thousand Dollars and people still called it too expensive and would not put even 500 Dollars on it.  Now that it is worth a decent house in a lot of countries around the World, people are crying out loud about the missed opportunity and about how hard it is to earn an entire Bicoin.  Hell.  A lot of people used to call Bitcoin overpriced even when it was 10 Dollars.  It was always 'too expensive' and not worth it to them.

I believe these are only excuses they are using to continue doing what they did all this time.  Even Gold, I hear very often that it is very expensive.  Yes you can have a gram of it for little compared to a whole Bitcoin, but they would still not purchase it.  There is no need for any 'revolution', what they need is a check of reality.  They keep banging their head on the walls and it never wakes them up it seems.  If people wanted to have Bitcoin, they would buy some.  It only takes common sense to realize you do not need a whole unit to invest the same way you do not need to have a significant portion of shares to invest in a company stock.

 
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Today at 10:05:37 PM
 #12

Many people look at the price of 1 BTC and think, "I can't afford that." This is a classic Unit Bias illusion.
For those familiar with Bitcoin, purchasing fractional units isn't confusing, and can easily calculate their value using a simple calculator. However, for laypeople, they might feel confused and feel unable to buy Bitcoin simply, because 1 Bitcoin is so expensive (in their minds), and I often hear this misconception. Personally, I prefer to focus more on the price or value of Bitcoin, as it can be a determining factor in how much Bitcoin you own (especially fractional units). So, I think we need to remind ourselves of this to get used to it, and hopefully, we can eliminate this misconception. By the way, focusing on the value of Bitcoin is the easiest way to erase the "Too expensive" mindset. Psychologically, Bitcoin is indeed very expensive, but if we imagine Bitcoin being worth $1 million in the future (I believe it will happen), then we can simply calculate our Bitcoin holdings along with the value.

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