Post
Topic
Board Bitcoin Discussion
Re: Proposal for mass adoption: the introduction of a new unit of account
by
o_e_l_e_o
on 17/08/2023, 09:25:01 UTC
Also, I haven't found any answers, but does anyone know why Satoshi Nakamoto decided 1 btc = 10^8 sat? Why 8?
See this post from Ray Dillinger: https://bitcointalk.org/index.php?topic=819656.msg9170781#msg9170781

The difference between the highest valued (GBP) and lowest valued (INR) fiat currencies on your chart is over 100x, with 1 GBP = 105 INR. Given that you are implying a difference of over 100x is fine for fiat currencies, why isn't it fine to just use sats for bitcoin?

I mean, the paisa barely even exists in India anymore, with the 50 paise coin not minted in over 20 years and every smaller coin completely demonetized. The price of everything in India is denoted solely in rupees, where something like a laptop might cost between ₹30,000 and ₹200,000. What's wrong with just doing the same for sats?