The Case for the "bit" - a Manifesto

The #Bitcoin community has some marketing decisions to make! With the ever-rising price of a whole #Bitcoin , it is becoming very important to change the mindset of potential investors who see 5-digit prices and think “I can’t afford that.”

Comparable to other inflation-hedge, hard money assets like gold, #Bitcoin is superior in the areas of portability, scarcity, and divisibility. If it is one day going to surpass gold in market cap like many believe, then 1 $BTC will be valued upwards of 500,000 USD.

As we approach this mark, we can see that the public perception of value will only skew more towards unaffordability. As I will present below, the clearest solution to this dilemma is to start thinking in terms of the “bit.”

Each #Bitcoin was designed to be divisible into 100,000,000 individual, fungible parts of a whole. We, as a community, need to use this feature to better emphasize the true affordability of Bitcoin as compared to other asset classes.

A shift toward pricing in lower denominations would have a similar effect as a traditional stock split, giving retail investors a more attainable price per unit, thereby giving anyone with $10 to invest a sense of the true affordability of #Bitcoin .

The #satoshi : The question then becomes at which decimal place do we stop? Many have tried to use this argument to reduce #Bitcoin to the #satoshi Each #satoshi is .00000001 $BTC (1/100,000,000th).

At today’s prices, however, each #satoshi would be less than a penny in USD. This value would be too low for the average investor to put into perspective when they are accustomed to thinking in terms of dollars and cents.

Also, the name #satoshi , while revered in the #Bitcoin community, might sound too exotic and intimidating for the average investor.

The Micro-Bitcoin (“bit”): There is another metric sub-unit of #Bitcoin that makes a tremendous amount of sense. The “bit” (or micro-bitcoin) is .000001 $BTC (1/1,000,000th). At today’s prices, each bit would be priced at ~$.03, a value easily digested by those new to crypto

Now the $10 investor we talked about earlier, instead of purchasing .0003 $BTC, will be receiving 300 bits for their hard-earned fiat. Also, as Bitcoin approaches the market cap of gold and beyond, bits become much closer to the easily perceived value of $1. Sats will be pennies

This allows for an easy “dollars & cents” framework that is more in line with the current system. Once exchanges start pricing in smaller denominations, we will see more retail investment come to $BTC.

Also, "bit" makes sense in terms of staying within the #Bitcoin branding. It will be easy to remember (and the new symbol above just makes so much GD sense).

When $BTC = $30,000, 1 bit = $.03
When $BTC = $50,000, 1 bit = $.05
When $BTC = $100,000, 1 bit = $0.10
When $BTC = $1,000,000, 1 bit = $1.00.

How do we make this happen? We MEME our way there. In crypto social media, we must make an effort to reinforce this narrative. Start referring to the price of BTC in bits. I believe it will truly accelerate the adoption of #Bitcoin in a meaningful way.

If you have read this far and agree with the donkey's message, please follow, like, and retweet! More to come. #BuyBTCInBits $BTC #Bitcoin