Jack Dorsey Backs Radical Bitcoin Overhaul: Why Your 'Satoshis' Could Soon Become 'Bitcoins

Jack Dorsey Backs Radical Bitcoin Overhaul: Why Your 'Satoshis' Could Soon Become 'Bitcoins

Jack Dorsey, co-founder of Twitter, endorsed BIP 177, which proposes a radical rebranding of Bitcoin’s base unit. Dorsey supported the proposal on X and spread the new idea with 1 million views. A software developer, John Carvalho, published BIP 177 titled “Refine Bitcoin’s Base Unit”, arguing that the BTC currency could be simplified by removing leading zeros and the decimal point. Using current prices, A single Bitcoin worth over $100,000 make…

Here’s What You Need to Know About the BIP-177 Proposal

Known as BIP-177, the proposal seeks to redefine the way Bitcoin’s smallest units are named and displayed, potentially phasing out the term “satoshi” entirely. Goodbye, Satoshis? A New Naming Scheme Emerges At the core of BIP-177 is a bold idea: eliminate the notion of satoshis as a separate denomination. Instead, what we now call 1 satoshi—the tiniest fraction of Bitcoin at 0.00000001 BTC—would be labeled as “1 Bitcoin.” Conversely, what’s curr…

A proposal seeks to redefine the base unit of bitcoin and eliminate decimals *** The BIP 177 proposes that what is now known as a “satoshi” be considered a “bitcoin” The measure seeks to align the perception of users with the actual structure of the protocol It would not change the supply nor the rules of consensus, only visual representation The developer John Carvalho has proposed a profound but merely visual change in the way in which users u…