Oddbean new post about login | logout The term bitcoin would ideally be applied to a unit with a sane value. As it stands a lot of people think of bitcoin as expensive when that is a completely arbitrary valuation. Right now 1 sat is too small to be the standard unit, and 1 bitcoin is too big. I think Adam Back has the right idea and in the near future we'll be pricing bitcoin by the bit (0.00000100 btc) and this will eventually become the unit that laypeople mean when they say bitcoin. Sometime around the point that 1 sat == $0.01. It's a logical transition for people to think of sats as cents and bits as dollars.
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makes sense, but eventually one day 1 sats = 1 $, then what do you do?
That only really happens in a hyperinflationary situation where the USD is rapidly collapsing. By that time people will be valuing fiat in bits and not the other way around.
well the same from going from 1$ = 3829 sat (right now) to 1$ = 100 sats, isn't it more connected to the time span? a 100sats for 1$ is a 1.000.000 worth bitcoin ... it depends how quick it goes there to call it hyper inflation, but yeah, anyway before reaching 1$ = 1sats there will be a long period where it will be closer to 100 sats 1$. maybe is because I am Italian, and I was alive when we had liras, which got exchanged with euros on a fix exhange rate o 1928 Liras = 1€. So it's kinda familiar thinking as 4200sats = 1€ it can also make sense thinking about 42bits = 1€, so in fact bits makes sense I checked here: https://en.bitcoin.it/wiki/Units and it seems there is no "nickname" for a 0,00001 btc (10bits, 1000sats), so it makes sense to show the values on a bit base ..