Replies (56)
It’s clown town. 
This confusion comes from mixing unit display with total supply.
The supply is still capped at 21 million BTC ... that never changes.
What changed is how we count or show the smallest units: 1 BTC = 100,000,000 sats (or bits, millisats, whatever).
Think of it like measuring length:
You didn’t create new meters ...you just started talking in centimeters or millimeters to get more precise.
No new coins. Just better decimals.
Clarity > confusion.
#Bitcoin #SupplyFixed #UnitsMatter #SatsNotNewCoins
This is what I’m thinking. 21M btc and 21Q sats. I don’t like 10^8.
nevent1qqsxnedjjxhp02esh779zrk9yzfwqzp8n5wha08sth2sjdr7zjekgwcpp4mhxue69uhkummn9ekx7mqr42fna
Those people are crazy. This is a so centralized mindset to want to decide such a thing.
Nunca chamarei meus satoshinhos de bitcoins!
No we don't. The proposal is bullshit. We can just ignore it.
This is the Bitcoin inflation bill that the Bitcoin Central Bank just invented. 😂
The best way to destroy Bitcoin is to destroy the unit of Bitcoin and redefine #Bitcoin
Fr why give so much attention to nonsense
You're only looking at the downside. Think about the advantages. Jack says it won't be confusing at all for new users to have "Bitcoin" mean one thing to one set of people, and 100 million of that same thing to another set of people
1. We said 21 million BTC.
2. Telling people that they can't afford any "bitcoin" is bad and needs a solution
If you think the solution is to tell them about this new thing called sats, fine. But let's not pretend that introducing a whole obscure word is better.. "sats" means nothing to anyone unless they already own bitcoin, even then it is iffy.
View quoted note →on this point…we’re early tho, & bitcoiners know what the change would be for. using only “bitcoin” and getting rid of “satoshi” is for the masses of the world and realizing the vision of bitcoin. the non-technical etc masses online and irl could get on board w bitcoin more easily & faster if it is easier to understand. (lots of people give up trying to learn about stuff as soon as things start to get confusing.)
Is it approved definitely?
The second Bitcoin inflation bug to occur since the Genesis block.
The important lesson is even pretty smart guys like @jack can go full retard sometimes. He didn't think too deeply about this one before throwing his support behind it. Maybe it's a good time to reflect on another misguided recent proposal.
It sounds like we should’ve been educating people for the last 15 years that the coin cap in the bitcoin network has been coded into its source code instead of ‘convincing’ people there can only be 21 million bitcoins.
Facts
Bitcoin turning out to be centralized government bs like everything else that WAS good.. What's the only blockchain without analysis?
At what point bitcoiners realize that Jack is the wolf in sheep's clothing?
The guy wants to delete IP so that bigtech can steal IP and train for free AI to replace creators while they rip the benefits.
He then becomes the founder of bluesky, another censored and centralized platform aimed at woke anti elon people, so that he and his buffy can capture all the market. He runs algorithms to profit from people activity, which is what he also criticizes.
He now wants to change the unit of account of bitcoin, which would destroy the scarcity narrative. One can easily understand 21 million is scarce, but no one can understand how 2.1 quadrillion would be scarce. I bet people dont even know how many zeros a quadrillion has.
Mainstream would convince normies that bitcoin is not scarce anymore, and that it is a shitcoin like doge or whatever and value would plummet.
It is so obvious that this is a social attack that everybody should unfollow him on nostr and X. Give this guy zero relevance. Fuck him.
Can't we just say 21 million bitcoins and 2.1 quadrillion sats/satoshis? Why complicate things for the sake of "changing" it? That's such an inconvenience.
Right!?! Dumb after. End stop.
nevent1qvzqqqqqqypzqquxdpn0xlh4zqw9k3patfqml9nnndqkyd9e642sfxzlycj5279pqy88wumn8ghj7mn0wvhxcmmv9uq36amnwvaz7tmwdaehgu3wvf5hgcm0d9hx2u3wwdhkx6tpdshsqgpuv5lcuk8wagn4rdyrmaehndfcpfv68u0n6yerzs2956alsyygasdmmvx0
The idea of a stock splits are just mind games. Making you feel like you’re getting more value for less cost. Some people have a hard time accepting the reality of absolute scarcity, since it has never existed before. Once they accept it, they will be right here on Nostr talking about, “Everyone gets Bitcoin at the price they deserve!”
No new coins but a whole lot package of bugs, and desteoying the deflationary perception of bitcoin. This is not clarity at all, this aims to destroy scarcity perception, it make no sense at all, unless 1/21000000 btc becomes to valuable to be an unit. And then you can add prefix like "mili-satoshi", "nano-satoshi", etc...This measure aims to inflate bitcoin, since it will change the scarcity of 1 satoshi, together with thw subjective perception from people about btc value. Just bitcoin and cypherpunk enemies could defend something like that, they want to destroy what btc means
Can you explain or provide a link for the part about how he wants to delete IP?
Right? It’s not like it is a law of nature.
Exactly, and I am tired of people pretending it is to 'make it easier for normies' 😂
People need to get over the fact that some idiots like buying XRP
Absurd! I hope this proposal never passes. It would be an unforgivable mistake
nevent1qqstftg7qfltq9kl9jpw7w2pm2lp63ta28uwddn53cfjj4eg2rhkqjqpp4mhxue69uhkummn9ekx7mqz4wtwp
Absurd! I hope this proposal never passes. It would be an unforgivable mistake
But muh marketing!
The most convincing argument so far.
Vitor Pamplona
We spent 15 years convincing people that the hard number is 21 million bitcoins.
Now we have to go back to each person to tell them that it is now 2 quadrillion and 100 trillion bitcoins.
But somehow we didn't create any new coins in the process.
View quoted note →
To savage it so badly they never even think of trying again.
Noderunners, be careful with updates!
Bitcoin is the base unit. sat is the fractional unit. Can’t get simpler than that.
There's a multipronged attack on the btc milieu in preparation. This should surprise very few.
IP is to be removed.
otherwise I agree that this is an attack on bitcoin
Exactly! This is my fear. Then people will start saying there was inflation, that it works like stocks (splits) and who know what else. Why don’t these smart people use their time for something more productive?
Exactly.
He said it on here about 2 weeks ago, sounded like he’d been on the sniff all night. Classic tech ‘manifesto’ stuff but without the charm or self awareness of Tex Kaczynski.
Like dollars and sense, which everyone understands!
🎯💯
🎯
nevent1qqstftg7qfltq9kl9jpw7w2pm2lp63ta28uwddn53cfjj4eg2rhkqjqpp4mhxue69uhkummn9ekx7mqz4wtwp
🎯
Exactly 👌🏻
nevent1qqstftg7qfltq9kl9jpw7w2pm2lp63ta28uwddn53cfjj4eg2rhkqjqpp4mhxue69uhkummn9ekx7mqz4wtwp
no need
nevent1qqsrzs9a40ycl3k6ev64ae98lhthm7zlnhdm3qtr9yfdkazqmxgcx6spr9mhxue69uhhyetvv9ujuam9d3kx7unyv4ezumn9ws33he4k
Nothing new actually. Also, Stock splits
I agree 100 %.
What percent of the world's population are aware there are 21 million bitcoins? Let's have a number.
I just now discovered this BIP proposal. I also don't think this is a good idea.
In my view I there's many more important things to do in the world and ways to spend attention and capital. But anybody is free to create a BIP. And I think its important to always remember that the idea that all BIPs should deserve attention per se and all appear in one place is obviously just an opinion as we know. It's part of the process of decentralization that we're all part of.
This (and other BIP ideas) are a great test to the decentralization of Bitcoin. Bitcoin should remain decentralized, and we should find ways to make that decentralization always be the priority.
Bitcoin is the community. Nostr allows that community to flourish too. Nostr can also teach decentralization to Bitcoin.
We're all going to there and learn a lot about all of this. We're gonna get there.
Never say Never!
E.G. there we’ll never be more than 21,000,000 #btc
BIP-177 WRONG 2.1 Q
In 2100
There will never be more than 2.1 Q #btc
BIP-2177 WRONG 2.1 quintillion
Etc etc etc …
If you told them there’s only 21 million dollars and there’s 100M Pennies in each dollar and it can’t be changed
They can do the math and realize the truth, it’s just the wallet showing you the decimal point in reality there is no decimal. It’s all integers
Basic branding problem
What will happen to the mining business when the last bitcoin is mined?
Well, then we can just remind people that, similarly, the national debt is $37Trillion or also 3.7Quadrillion pennies.
