Thursday, 21 September 2023

Bitcoin is the name of the network, sats is the name of the money.


I just realised that soon saying you own bitcoin will make you you sound old AF.Growing up every kid comes across an older adult who says things that make them sound ancient. When I was young I was once in a car with my older aunty and she said turn on the wireless. What the fuck is a wireless? The radio. Oh ok why on earth do you call a radio a wireless. It made her sound like she was from world war one.Theres so many examples of this in daily life. Some older people still refer to the internet as the world wide web because thats what everyone called it in the 90s.Right now we have this luxury of refering to whole bitcoins but that wont last forever. Soon one bitcoin will be worth so much the only way to effectively refer to amounts of bitcoin will be using sats. Sats just makes so much more sense especially when one bitcoin is above $100k.Once sats become the main currency term used bitcoin or bitcoins will no longer be used when talking about the currency. Bitcoin will be the name of the network and sats will be the currency everyone owns and uses.You will ask a kid in 2035 if they have bitcoin and they will say I dont have bitcoin I have sats. Looking back there will have been this tiny initial 15 year window where we all called the bitcoin currency "bitcoins" but after that initial window for the rest of bitcoins existence the bitcoin currency will be called sats by everyone on earth.In 2035 if you say you own bitcoin or you want to pay using bitcoins kids will laugh at you and tell you that you sound old AF. Everyone will save sats, pay with sats, transact with sats, use sats, send sats, and tip sats. The name of the network will be bitcoin but the monetary unit will be known by everyone as sats not "bitcoins" and if you try to use the term bitcoins you will be considered ancient and out of touch.Once one bitcoin (sorry, 100 million sats) is worth more than $100k im going to stop saying bitcoins and im going to only refer to the monetary unit as sats from that point on.Bitcoin is the name of the network, sats is the name of the money. via /r/Bitcoin https://bit.ly/3LBBjaL

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