Shocking! Is Bitcoin going to 'defy the heavens' and change its name? BIP-177 may overturn our understanding!
Regarding the BIP-177 proposal, there is a bold idea:
'BTC' will still represent 100 million Satoshis;
but 'Satoshi' will be directly referred to as 'Bitcoin';
The ₿ symbol will be used for this 'new Bitcoin'.
In simple terms, if this proposal is passed in the future:
1 BTC = 100,000,000 Bitcoins (original Satoshis).
This way, not only is the pricing more intuitive (for instance, a cup of coffee = 4000 Bitcoins),
it also reduces the pain of 'counting zeros' during payments, especially making it friendlier for miner fees.
This does not affect the scarcity of BTC as a total unit,
but rather helps with daily payments, price display, and user recognition.
Looking back at the history of various countries, 'removing zeros' almost always represents hyperinflation,
the international credibility damage caused by the removal of zeros in countries like Zimbabwe and Turkey is still vivid.
Yet Bitcoin chooses a **'reverse adding zeros'** approach,
which is not only unusual but also somewhat resembles Australia's currency reform in 1966.
Compared to the passive removal of zeros under currency devaluation, this 'unit refinement' method feels more like an active optimization of experience.
Just like the stock splits of Apple and Nvidia, it hasn't diminished value; instead, it has enhanced liquidity and approachability.
Conclusion: Although this proposal is small, it could represent a significant innovation in future Bitcoin payment habits. I support it.