Debatable if they are currently “crazy ass ideas”. Bitcoin in a path to price discovery to a 6-digit valuation = not crazy anymore. Bitcoin as a World Reserve Currency = institutions are buying, wait for Central Banks/government to pass a bill to buy and HODL Bitcoin.

Plus I have a shower thought that United States might go through high inflation/hyperinflation because M2 Money Supply is very high, Velocity Of Money is very low = crazy ass idea.

Another shower thought for you, JJG. There are many non-Bitcoiners, and some coiners who have been saying that Bitcoin has simply become too expensive for newcomers to buy. Isn’t becoming clear that wallet developers, and exchanges start removing “BTC” as the base unit and start to use something else?

That idea of unit bias has been batted around for as long as I have been into bitcoin, so it is not exactly an innovative idea.  I think Jimmy Song even had a BIP on it in 2017.. or was it 2016.. and surely there were people before him and even websites allowing for the selection of other units (fractions of a bitcoin)

 

Satoshis is probably going to win out because it is becoming popular, some of the other categorizations get a bit confusing in terms of which decimal point they are referring to.. but sure with anything, if one or more of them catch on, then that unit description could become widespread...

In some sense it does seem like BIG so fucking what to me depending on which problem that you are trying to solve, so sure some people are going to get confused into thinking that they need to buy a whole bitcoin or they think that bitcoin is overpriced and blah blah blah.. but in the end, those folks are pretty dumb ass fucks.. I kind of thought that for several weeks in my first studying bitcoin, so I am not even excluding myself from such camp of a person who is inclined to think in terms of the unit and to be a bit confused by the divisibility.  

Another issue is that our brains are wide-spread used to accounting in positive terms rather than in decimal places, which does seem to cause satoshis to make a decent amount of sense - and we also know that divisibility beyond the satoshi (into smaller units) is already taking place on lightning network, but I believe that in order to actually transact on the mainchain, those sub-satoshi units are not recognized, so they would have to be rounded up or down to a satoshi in order to settle on the mainchain.


I am glad to have some help responding to Wind_FURY's shower thoughts.. that's for sure.

I do agree that in your example, 130,000 is likely much easier to digest for a whole hell of a lot of people, besides mathematician nerds rather than 0.0013.... and it is probably more of a what "we" are used to kind of positive numbers thing rather than anything genetic about having difficulties with decimal places.

No one can buy every dip and sometimes you should stop trying to find the dip price, Actually, you just need to buy and Hold, dip or not is doesn't matter but the most important is you join in the train. I have a lot of coins but if talk about investment i don't care the price is dip or not, I just buy it and hold it.

The essence of the matter seems to be that I don't really know in terms of what it would take to have some kind of unit determinations become dominant.  It seems to be a kind of wait and see thing because none of the naming ideas can really be imposed but just a kind of factor of what a lot of people end up doing, just a kind of consensus that evolves.




I'm just saying that I don't know that the fuck a bit is.  but I know what a sat is and I know what a bitcoin is.  I don't know what the various other references are, but if the vast majority started using one thing or another besides satoshis are bitcoin, then I suppose that any of us can start to learn what they are.. so I doubt that it has to do with being against any of the names, but just being able to recognize that many or most people are using x, y or z, and then ending up knowing what that is referring to without any ambiguity, at all.

The supposed "unit debate" does not really seem to be controversial.,, as far as I have seen, so far.




Sure.. fair enough.. but does that get us anywhere except maybe just saying if things seem easy to do and then they kind of sink in and become wider in their spread of usage and then become a thing that people do... but at what point would they become mandatory in an open system?

hahahahaha

You really seem to be devolving into a kind of glass half full kind of guy  in this matter, and perhaps it is not really that BIG of a topic - even though in the end you and I seem to be considering the potential BIGness of this topic from differing perspectives, too.

Sure, perhaps, there might be some aspects of the bitcoin community that are angling for units outside of bitcoins and satoshis, but really are they going to gain any traction and does it really matter?  Even now, after experiencing an additional 5-6x price increase since early September 2020, satoshis are becoming more and more manageable as a consideration to go make a $1 purchase, a $100 purchase, a $1,000 purchase, a $10k purchase or some higher value item, and surely using Satoshis does seem to put us into using positive value numbers rather than more frequently devolving into decimal places, but sure I am not opposed to the attempted use of some kind of unit in between satoshis and bitcoins, it is just a matter of which unit(s) might catch on and whether there is confusions about the reference - which surely would not be the case if a widespread number of peeps, venders, exchanges or whatever, started to use some kind of other unit, such as a bit (whatever the fuck that is?).. 

By the way, satoshis have likely already won the supposed sats versus bits debate that you suggest might be in existence and such a BIG ass deal.. and I am even having some difficulties recognizing the BIG deal that you are anticipating to become such a central dividing force in our imaginary upcoming future.        

It's time to buy. I have been waiting for this. We won't get second chance to buy again. This dip is a boon in disguise. My funds are ready but I am in dilemma which alt should I buy?

You can do both.

You can buy regularly, and keep some fiat on reserve for buying dips, too.

In other words, you might not know when BTC prices are going top dip, and if you have a regular cashflow coming in, it may not be a bad thing to reach your buying accumulation targets.. Once you reach your accumulation target, you can likely be a lot more selective about when you buy or if you buy and how much of a dip you need before you buy.

So, each person should be assessing his/her own accumulation targets, and don't get too damned greedy.. just buy regularly.. and sure, if you have some extra and you see a dip, buy some more during that period.. but you could get really screwed up if you do not have enough BTC and you are waiting for dips in order to buy that might not happen.

It is effective but you can also put it somewhere where you can hodl it and at the same time earn some interest for hodling, I am talking about bankroll investing which is pretty much like gambling but you are on the side of the house so you are guaranteed to get some money back. There is a mixed reaction towards this because there are days where you lose but if you are hodling it for the long term then you might as well hodl it in bankroll because in the long term, you will earn more from that investment.

Another dip. Don’t sell, and throw your Bitcoin to the billionaires, OK? Bitcoin has NOT covered half of its path to price discovery for the current bull cycle. All dips are still for buying.