A new proposal, defended by John Carvalho, proposes to redefine the unit of measurement of Bitcoin. The idea? Replace decimal points with a presentation in integers, where what we consider today to be a satoshi would become the new “bitcoin”. This initiative sparks debate and reflection within the crypto community.
A new unit for better accessibility
John Carvalho, an influential actor in the sector, presented a proposal that would radically transform the way Bitcoin values are represented. Currently, one bitcoin (BTC) is equivalent to 100 million satoshis (the smallest unit of currency). The new proposal redefines a bitcoin to represent what we today call a satoshi, removing decimal places altogether.
For example, a transaction that appears today as “0.00010000 BTC” would become “10,000 bitcoins”. Carvalho argue that this change would make transactions more intuitive, especially for new users unfamiliar with fractional values.
“ The decimal point is just a man-imposed abstraction “, explains Carvalho in his proposal, emphasizing that this simplification would align Bitcoin's display with its fundamental protocol.
Logistical challenges and criticisms
This proposal is not without controversy. Critics point to several risks associated with such a change of unit. First, it could confuse current users accustomed to the current system, thereby increasing errors in transactions.
Additionally, electronic wallets and exchange platforms, developed to work with decimal format, are expected to undergo significant changes. This would pose considerable logistical challenges, involving significant costs and coordination efforts within the Bitcoin ecosystem.
Finally, some experts believe that this reform could create unnecessary confusion for users, slowing the adoption of crypto. In 2017, a similar idea was proposed under the name “bits” (BIP 176) but failed to convince the community.
An educational issue for Bitcoin
The reform proposed by Carvalho revives a long-standing debate on the need to simplify Bitcoin's units to promote its mass adoption. While it promises better accessibility, it also poses complex questions of logistics and communication.
For the moment, no consensus is emerging on this question. The Bitcoin community will need to weigh the benefits of simplification against the potential downsides to determine whether this reform is worth implementing.
The “One bitcoin = one Satoshi” proposition embodies a bold effort to modernize and democratize the use of Bitcoin. However, its success will depend on the community's ability to overcome technical obstacles and establish effective teaching to support this radical change.
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