CoinMarketCap: it's time to price Bitcoin in Sats (instead of Wholecoins)

The Issue

What's a wholecoin?

The decimal place in Bitcoin was placed in the centre (of the maximum number of digits) in order to provide maximum flexibility - the same number of digits each side of the decimal. Visually, it looks like this: 00000000.00000000

The code itself does not use decimal places when calculating Bitcoin amounts, it just inserts one when displaying amounts to the user. 

The Problem

As the plebeian class discover that fiat currency is slavery, and we see the increasingly erratic turmoil of late-stage fiatism, we progress faster and faster towards hyperbitcoinization. The unavoidable increase in price makes the current location of this decimal point increasingly vulgar.

One does not wish to convert their fiat garbage stimmy check into a paltry 0.02336284 BTC when they can instead stack 2,336,284 sats. This is even more obvious when actually using BTC, for example spending 0.00001606 BTC on a VPN subscription is ugly, while 1,606 sats is beautiful.

There's another reason, too. Everyone gets the Bitcoin price they deserve, but cutting off a gangrenous limb infected with toxic fiat garbage is a traumatic experience. We can reduce this post-bitcoin-awareness trauma by pricing it in sats, and eradicate the common misconception that it's not worth buying Bitcoin unless a whole coin is attainable. We've also all had that relative or friend who thought one simply cannot buy less than a whole Bitcoin. Pricing in sats fixes that whole thing too.

Unit bias is also a non-trivial problem. Newcomers often think there's more chance of getting rich quick if they buy something "cheap", when what they are really buying is something that is just massively diluted.

Getting it done

Shifting perspective from wholecoins to sats has to start somewhere.

We the undersigned humbly ask that CoinMarketCap kick things off by changing the Bitcoin unit used on their site from wholecoins to sats.

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The Issue

What's a wholecoin?

The decimal place in Bitcoin was placed in the centre (of the maximum number of digits) in order to provide maximum flexibility - the same number of digits each side of the decimal. Visually, it looks like this: 00000000.00000000

The code itself does not use decimal places when calculating Bitcoin amounts, it just inserts one when displaying amounts to the user. 

The Problem

As the plebeian class discover that fiat currency is slavery, and we see the increasingly erratic turmoil of late-stage fiatism, we progress faster and faster towards hyperbitcoinization. The unavoidable increase in price makes the current location of this decimal point increasingly vulgar.

One does not wish to convert their fiat garbage stimmy check into a paltry 0.02336284 BTC when they can instead stack 2,336,284 sats. This is even more obvious when actually using BTC, for example spending 0.00001606 BTC on a VPN subscription is ugly, while 1,606 sats is beautiful.

There's another reason, too. Everyone gets the Bitcoin price they deserve, but cutting off a gangrenous limb infected with toxic fiat garbage is a traumatic experience. We can reduce this post-bitcoin-awareness trauma by pricing it in sats, and eradicate the common misconception that it's not worth buying Bitcoin unless a whole coin is attainable. We've also all had that relative or friend who thought one simply cannot buy less than a whole Bitcoin. Pricing in sats fixes that whole thing too.

Unit bias is also a non-trivial problem. Newcomers often think there's more chance of getting rich quick if they buy something "cheap", when what they are really buying is something that is just massively diluted.

Getting it done

Shifting perspective from wholecoins to sats has to start somewhere.

We the undersigned humbly ask that CoinMarketCap kick things off by changing the Bitcoin unit used on their site from wholecoins to sats.

The Decision Makers

Petition Updates