Key Takeaways
- Jack Dorsey has voiced support for renaming sats to bits to ease Bitcoin adoption.
- BIP 177 would redefine 1 satoshi as 1 bitcoin (bit), altering user display formats.
- Some critics warn the change could cause confusion or be exploited by bad actors.
A proposal to rename Bitcoin’s smallest unit from “satoshi” to “bit” is gaining traction, with Twitter founder Jack Dorsey voicing support.
The proposed change, introduced by Synonym CEO John Carvalho as BIP 177, seeks to redefine the base unit of Bitcoin to simplify user experience.
Understanding BIP 177
Currently, 1 Bitcoin (BTC) equals 100 million satoshis.
BIP 177 flips this structure—treating 1 satoshi as 1 “bitcoin” (or bit).
Under this model, 0.0001 BTC becomes 10,000 bitcoins (bits), and 10.23486 BTC becomes 1,023,486,000 bitcoins.
Arguments for the change
Carvalho argues the rebranding would align better with Bitcoin’s internal accounting system and reduce confusion for new users.
he explained:
Bitcoin’s ledger represents values as integral base units. The decimal point is merely a human-imposed abstraction.
Support from Jack Dorsey
Jack Dorsey echoed this sentiment, stating:
‘Sats’ is definitely the wrong term and is stopping everyday people from acquiring and spending Bitcoin.”
Industry opinions
Other industry voices also weighed in.
JAN3 CEO Samson Mow supports a switch to bits but suggests timing the change for when satoshis reach dollar parity.
He proposed the addition of “satcents” to enhance granularity at that stage.
Concerns and criticisms
However, not everyone is on board.
Yu Xian, founder of blockchain security firm Slowmist, warned that misinterpretation could lead to errors and scams.
He said:
Some lousy platforms might mess up and foolishly record 1 bitcoin as 1 BTC.
Response to critics
Carvalho responded to critics, claiming many haven’t seriously reviewed the content of BIP 177.
