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Jack Dorsey supported the proposal to abandon Satoshi in Bitcoin
Jack Dorsey supported the proposal to abandon Satoshi in Bitcoin
CEO of Block, Jack Dorsey, is among the experts who supported the proposal to remove satoshi as the base unit of digital gold.
This is how Dorsey reacted to BIP-177 from developer John Carvalho. The latter suggests the elimination of the term “satoshi” — one hundred millionth of a bitcoin.
In 2017, Jimmy Song proposed creating what are called “bits” — one millionth of a whole. According to Carvalho, such an approach will still require users to think about decimal numbers and “will likely increase complexity rather than eliminate it.”
In this context, the entrepreneur referred to a discussion on this topic in December on David King’s podcast. In it, one of the participants, Stevie Lee, head of the product department at Spiral, lamented that not enough people know about and are interested in what satoshi is.
The expert reminded that some perceived the minimum unit as a completely new token, unrelated to the first cryptocurrency.
According to Li, the community should not be too worried about this change, as it knows that the underlying economy of Bitcoin will remain the same.
The Product Director of Byte Federal, Michelle Weekly, spoke out against changes.
The head of business development at Zaprite, Parker Lewis, supported this point of view. He is convinced that satoshis are easier to understand.
The creator of BitVM, Robin Linus, emphasized that even Satoshi Nakamoto was open to changing the way bitcoin units were displayed for convenience. The specialist referred to a message from the creator of the first cryptocurrency from 2010.
Let us remind you that in April, the community experienced an escalation of the “OP_RETURN war”. Bitcoin developer Peter Todd created a request to modify the Bitcoin Core code to remove restrictions on storing arbitrary data in the blockchain.