The satoshi rename proposal is gaining momentum across the Bitcoin community. Backed by tech entrepreneur Jack Dorsey, the idea suggests renaming the smallest Bitcoin unit — the satoshi — simply as bitcoin.
This shift would redefine the structure of the currency: instead of 1 BTC = 100,000,000 satoshis, it would be referred to as 1 BTC = 100,000,000 bitcoins. A wallet balance of 0.0045 BTC, for example, would instead show 450,000 bitcoins.
Satoshi Rename Proposal Led by BIP-177
The plan, officially titled BIP-177, aims to simplify Bitcoin’s unit structure and make the currency more intuitive for newcomers. Jack Dorsey tweeted his support, saying:
“Satoshi confuses new users. ‘Parts of a bitcoin’ sounds better, but just calling it bitcoin is ideal.”
According to John Carvalho, CEO of Bitcoin firm Synonym and the original author of BIP-177, support has surged thanks to Dorsey’s influence. Bob Bodily, founder of memecoin platform Odin.fun, also backed the proposal, suggesting it should go to a public vote.
Divided Opinions on Renaming Satoshis
While many view the satoshi rename proposal as a rational improvement, not everyone agrees. Critics argue the change would:
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Undermine the established unit naming system
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Violate the principle of Bitcoin’s 21 million supply cap
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Create confusion among longtime users
Podcast host Bram Kanstein, a vocal opponent, stated:
“Everyone already knows Bitcoin is divisible into 100 million satoshis. Changing this now introduces unnecessary complexity.”
Supporters like Carvalho dismiss these concerns, calling them emotional reactions rather than logical objections.
“It’s a 100% rational proposal, hard to deny. Most pushback is emotional, not practical,” he said.
Will Bitcoin Units Be Rebranded?
The satoshi rename proposal continues to spark debate. Proponents claim it simplifies communication and enhances user adoption, especially for newcomers. Opponents argue it disrupts tradition and creates inconsistency.
Whether the change goes forward will likely depend on broader consensus in the Bitcoin development and user communities. If accepted, Bitcoin’s most basic unit could soon become simply: bitcoin.
