The Bitcoin community is actively discussing a new proposal, BIP-177, which aims to redefine the basic unit of Bitcoin.
Proposal Overview of BIP-177
The BIP-177 proposal suggests that one Bitcoin will equal 100 million Bitcoins, meaning that one Satoshi will now be considered one Bitcoin. The main idea is to make Bitcoin easier to understand for users and align the representation with the nature of the Bitcoin protocol.
Support and Community Discussion
Supporters argue that the current system's eight decimal places (e.g., 0.00000001 BTC = 1 Satoshi) are confusing, as the Bitcoin blockchain actually stores these values as countable whole units. Jack Dorsey, the founder of Twitter, joined the discussion by simply writing 'BIP-177' in X, which garnered significant attention.
User Opinions on the Proposal
Some Bitcoin users believe that this proposal will clarify Bitcoin to the general public. However, others argue that changing terms that have been used for years is unnecessary and might increase confusion.
The BIP-177 proposal aims to simplify the understanding of Bitcoin, but opinions about its necessity are divided within the community.
