Bring Back the Bits! Adam Back Argues To Scrap Bitcoin “Sats”

In letter

  • Adam Back, CEO of Blockstream, said the satoshi unit of measure – the sat – was too confusing.
  • He said using bits to measure fractions of a bitcoin is far easier.
  • Crypto Twitter seemed to agree with him.

Adam Back, the CEO of blockchain Technology company Block streamhas said that bitcoiners should forget about the satoshi unit of measure known as “sat”.

The computer scientist wrote on Twitter yesterday that it was “time for a little reboot” and that “sats [satoshis] are confusing. ”

Satoshis – named after Bitcoin’s anonymous creator – are units that measure the smallest amount of Bitcoin: One hundred millionth of a coin.

However, according to Back, who has been researching Bitcoin since its inception, we should go back to using bits as the smallest unit of measure as it is easier.

Bits measure one millionth of a coin. “1 million is a lot easier than 100mil base,” he wrote. “Even Bitcoin-qt (core) had bits for years.”

Back continued, “One bitcoin is too expensive, but sats are too many, sound cheap and confusing.” That’s “hard to find out what you bought,” he said. He noted that when the price of Bitcoin hits $ 1 million, it will still be a bit cheap – at $ 1.

He also said that there was “universal newcomer confusion” about buying fractions of a bitcoin and that “you still have sats, just small things (aka sats) like dollars and cents.”

The crypto community picked up Back’s idea on Twitter. Crypto anarchist David Burkett wrote: “I couldn’t agree more. Sats always seemed too small and plentiful to think about. Dividing by 100 mils is also much less natural than dividing by 1 mil. “

While Bitcoin is maximalistic, the pseudonymous “Bitcoin Arthur Morgan” said: “I fully agree with you. We should use more bits. After the coming bull market is over exchange can indicate the BTC price per bit. “

And the co-founder of the computer platform Block stack I Agree that “Bits is a much simpler mental model.”

In perhaps the simplest argument, Back added, “There is something poetic about a bitcoin being made up of bits.”

Bring the parts back!