Why couldn't he understand the everyday person? Honestly when I first started out on nostr I was confused what zaps and sats were. Thankfully my husband explained but it was not easy figuring this stuff out. And getting a wallet connected was awful. I'm still figuring things out. I imagine if I had less time and help I would have given up! Terminology is important. Not everyone knows who Satoshi is. Or will have time to figure it out. Like there is no way I can explain to my mom that Satoshi is the anonymous person who made Bitcoin and has disappeared. I think that would freak her out and question Bitcoin as a whole. I feel Jack is at least trying to suggest things that would make things more accessible. I can at least appreciate that. Not sure if changing sat to bitcoin is the way. But I think something similar to byte, megabyte, gigabyte would be helpful. Also Jack has access to everyday peoples transactions and usage of Bitcoin via CashApp, Block, and Square. That is a lot of insight.

Replies (4)

Pickle Dan 🥒's avatar
Pickle Dan 🥒 7 months ago
Just because a person has a mass amount of data on people doesn't mean they understand them. People are capable of learning. If you go to another country/region you have to learn what the currency is to use it even if you will only be there for a short time. Personally, I think this change would only create further confusion and slow down the adoption process by the everyday individual, but it won't slow down the larger corporate or government groups that wish to capture as much of the market while they still can.
Sure. If I go to another country I use their currency or just my credit card that doesn't charge me for international purchases. I don't learn the name of the individual coins or whatever. It just works. Bitcoin is not so straightforward though. And there is no easy way to use it. I have to find loopholes and work arounds. The only thing I am using bitcoin for by paying directly is data for my phone and my Proton Mail account. There is no other easy way for me to use Bitcoin in my day to day life. Its like using Yen in the US - no one will recognize the money. My main point is that we should think about ways to make it more accessible. Maybe it is clarifying names, or maybe it is something else. But dismissing things just because people should be able to do this or that isn't how we make things easier. Clearly things could be improved. I think it is good to discuss these things.
:P's avatar
:P 7 months ago
Should we should redefine a penny to dolls? Children today don’t know who Abraham Lincoln is. How am I going to explain who honest Abe is and how he freed the slaves with the emancipation proclamation. That would freak my kid out if he found out about slavery and that Lincoln was assassinated and question fiat as a whole. Stop defending Jack’s bullshit. Billionaires are out of touch and it’s sickening to see you imply Jack knows best because he has everyday peoples data. 🤮
I'm not defending him. I literally said at least he's trying to make things more accessible. I don't necessarily agree with the change, just open to hearing ideas for making bitcoin more accessible. We probably should change the name of the dollar because it has lost all meaning. "On 2 April 1792, U.S. Secretary of the Treasury Alexander Hamilton reported to Congress the precise amount of silver found in Spanish dollar coins in common use in the states. As a result, the United States dollar was defined[27] as a unit of pure silver weighing 371 4/16th grains (24.057 grams), or 416 grains of standard silver (standard silver being defined as 371.25/416 in silver, and balance in alloy).[28] It was specified that the "money of account" of the United States should be expressed in those same "dollars" or parts thereof. " Last I checked $1 does not equal 24.057 grams, or 416 grains of standard silver. As of right now it is like $25. My point by writing all this out is that we don't actually know the meaning behind things. And if it doesn't work we don't use it. Maybe the name is irrelevant. I just don't understand the hostility to trying to make thing more accessible. If it is just because you don't like Jack and that he is an out of touch billionaire, alright fine. If it is dumb idea, OK. Then do you have a better idea to make things more accessible?