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BitcoinSistemi 2024-12-15 15:53:07

An Extraordinary Proposal for Bitcoin: “Make 1 Satoshi Now 1 BTC”

Bitcoin advocate John Carvalho has submitted a new Bitcoin Improvement Proposal (BIP) that aims to fundamentally redefine how Bitcoin is measured and represented. The proposal proposes replacing the current system, where one Bitcoin (BTC) is equal to 100 million satoshis (sats), with a simpler structure that makes the satoshi the new base unit. Under Carvalho’s plan, “one Bitcoin” will no longer represent the larger BTC unit we know today. Instead, it will refer to the smallest indivisible Bitcoin unit, currently called a satoshi, which is equivalent to one hundred-millionth of a Bitcoin. This redefinition will eliminate the need for decimal points in Bitcoin transactions, making values easier to read and understand. For example, a transaction currently displayed as 0.00010000 BTC will appear as 10,000 BTC under the proposed system. Related News: Onchain Data Shows Whale, Who Once Had $240 Million in Assets, Bought This Altcoin Carvalho argues that this change will reduce confusion, bring Bitcoin’s appearance into line with its integrated protocol, and make the cryptocurrency system more user-friendly for newcomers. “The decimal point is just a human-imposed abstraction,” Carvalho says, suggesting that Bitcoin’s technical framework supports this change. Carvalho’s proposal is not the first to address Bitcoin’s unit structure. In 2017, leading Bitcoin developer Jimmy Song introduced BIP 176, which advocated using “bits” as a standard value. This would allow users to avoid confusing fractional BTC displays when dealing with smaller transactions. However, the idea never gained widespread adoption. Critics warn that redefining Bitcoin’s currency structure could present challenges for wallets, exchanges and other platforms already built around the current system. Such changes could also confuse existing users and increase the risk of transaction errors during the transition period. *This is not investment advice. Continue Reading: An Extraordinary Proposal for Bitcoin: “Make 1 Satoshi Now 1 BTC”