Observations and personal opinions from Nothing Research Partner 0x_Todd, the following content does not constitute any investment advice.
Looking closely, the proposal for BIP-177 is as follows:
The BTC symbol remains unchanged, still representing 100 million Satoshis.
However, the Sat (Satoshi) symbol changes to → bitcoin.
The ₿ symbol is designated for the new bitcoin.
In other words, if the proposal takes effect in the future,
1 BTC = 100,000,000 bitcoins.
As a loyal supporter of Bitcoin,
I think splitting it a bit is fine; counting zeros each time is quite a headache.
Especially when paying miner fees.
Now 1 BTC = 100,000 USD.
So 1 bitcoin = 0.1 cents.
It looks somewhat similar to the feeling of the Japanese yen.
For example, if you go buy a cup of coffee,
you price it at: 0.00004000 BTC.
That really feels strange.
But if the price is set at 4,000 bitcoin,
it feels more suitable for payments.
Moreover, $BTC still represents one hundred million BTC.
And aligns as much as possible with the existing world.
It does not affect the rarity brought by the high unit price of Bitcoin.
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By the way, I have been to Indonesia many times.
Indonesian money is extremely worthless.
Casual spending starts at 100K or 200K.
So many merchants simply do not write K.
They just write figures like 100, 200.
A friend asked: Why doesn't Indonesia just remove 3 zeros directly?
Little do they know that Indonesia already removed 3 zeros once in 1965, mainly due to severe inflation (in other words, too much money printing).
And the act of removing 0 has a very bad international impact.
A master of removing 0 - the legendary Zimbabwe, has actually launched the 4th generation Zimbabwean dollar, and the latest instance directly removed 12 zeros.
Also, the Turkish lira has also played with removing zeros;
The international impact is extremely poor; even those of us thousands of miles away are already aware.
However, Bitcoin adding zeros in reverse,
is indeed almost unheard of in the currency world.
Only Australia has done it once.
This was because Australia originally aligned with the British pound, leading to a non-decimal system. Later, in 1966, Australia decided to split 1 Australian pound into 2 Australian dollars, thus becoming a decimal system.
I haven't seen much international criticism.
And stock splits happen more often.
For example, the familiar Apple and NVIDIA have both split their stocks.
So clearly, removing 0 is not a very good thing.
And reverse adding digits sounds much better.
So I'm willing to support such proposals.