ancaprevolt on Nostr: We should adopt SI prefixes when talking about BTC. Speaking in BTC terms using ...
We should adopt SI prefixes when talking about BTC. Speaking in BTC terms using decimals is confusing. We already speak in terms of sats, so let’s apply the SI prefixes to satoshis.
If BTC = $58,000
1 sat = $0.00058
1 ksat (kilosat) = 1000 sats = $0.58
1 Msat (megasat) = 1,000,000 sats = $580
1 Gsat (gigasat) = 1,000,000,000 sats = $580,000
1 Tsat (terasat) = 1,000,000,000,000 sats = $580,000,000
1 Psat (petasat) = 1,000,000,000,000,000 = $580,000,000,000
We can refer to small purchases in ksats, for example, a $6 cup of coffee would cost a little over 10 ksat.
Use Msats for larger purchases like rent, vehicles, etc. $2000 of rent would be about 3.5 Msat. A $15,000 car would be about 26 Msat. There are 100 Msats in a bitcoin.
Use Gsats to refer to large amounts of money, in place of millions of dollars. There are 10 BTC in one Gsat
Use Tsats in place of billions of dollars. There are 10,000 BTC in one Tsat.
A Psat at today’s value represents $580 billion, but it is 10 million BTC. This is too big of an amount to be useful, as nobody has a Psat.
As value goes up, so too will the value of each denomination. If a Msat is $580 at BTC = $58,000, then a Msat will be $10,000 at BTC = $1,000,000. At BTC = $1,000,000, one sat = one cent. At this point, a hsat (hectosat) would represent a dollar, if a dollar had enough value to be relevant.
If BTC = $58,000
1 sat = $0.00058
1 ksat (kilosat) = 1000 sats = $0.58
1 Msat (megasat) = 1,000,000 sats = $580
1 Gsat (gigasat) = 1,000,000,000 sats = $580,000
1 Tsat (terasat) = 1,000,000,000,000 sats = $580,000,000
1 Psat (petasat) = 1,000,000,000,000,000 = $580,000,000,000
We can refer to small purchases in ksats, for example, a $6 cup of coffee would cost a little over 10 ksat.
Use Msats for larger purchases like rent, vehicles, etc. $2000 of rent would be about 3.5 Msat. A $15,000 car would be about 26 Msat. There are 100 Msats in a bitcoin.
Use Gsats to refer to large amounts of money, in place of millions of dollars. There are 10 BTC in one Gsat
Use Tsats in place of billions of dollars. There are 10,000 BTC in one Tsat.
A Psat at today’s value represents $580 billion, but it is 10 million BTC. This is too big of an amount to be useful, as nobody has a Psat.
As value goes up, so too will the value of each denomination. If a Msat is $580 at BTC = $58,000, then a Msat will be $10,000 at BTC = $1,000,000. At BTC = $1,000,000, one sat = one cent. At this point, a hsat (hectosat) would represent a dollar, if a dollar had enough value to be relevant.