Here’s What You Need to Know About the BIP-177 Proposal
Known as BIP-177, the proposal seeks to redefine the way Bitcoin’s smallest units are named and displayed, potentially phasing out the term “satoshi” entirely.
Goodbye, Satoshis? A New Naming Scheme Emerges
At the core of BIP-177 is a bold idea: eliminate the notion of satoshis as a separate denomination. Instead, what we now call 1 satoshi—the tiniest fraction of Bitcoin at 0.00000001 BTC—would be labeled as “1 Bitcoin.” Conversely, what’s currently referred to as “1 Bitcoin” would become 100 million Bitcoins under the new naming convention. While this may sound dramatic, the underlying code and protocol wouldn’t be altered; the change would be purely in terminology and how values are presented to users.
Supporters of the change argue that the current reliance on decimals and the name “satoshi” creates unnecessary complexity, especially for newcomers. The proposal suggests that using whole numbers instead of decimals would reflect the way Bitcoin is actually recorded on the blockchain and make wallet balances more intuitive.
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A Simpler Bitcoin for a Broader Audience?
According to the BIP-177 draft on GitHub, the aim is to align user interfaces more closely with Bitcoin’s on-chain structure. “Removing artificial decimal formatting,” the proposal states, could improve clarity and reduce user confusion, especially when dealing with very small amounts.
The idea has already caught the attention of high-profile figures. Jack Dorsey, CEO of Block and longtime Bitcoin advocate, gave a subtle nod of support by simply posting “BIP-177” on X (formerly Twitter), a gesture that quickly gained traction in crypto circles.
Yet, not everyone is convinced this is the right move. Critics argue that changing established terminology could do more harm than good, especially for a currency where education and familiarity are key. They also question whether such a semantic shift is necessary when the broader public is just beginning to grasp Bitcoin’s current structure.
If adopted, the change wouldn’t affect how Bitcoin works under the hood. Transactions, fees, and blockchain entries would all remain the same. What would change is how people see and talk about their coins.
The post Here’s What You Need to Know About the BIP-177 Proposal appeared first on Coindoo.
Filed under: Bitcoin - @ May 19, 2025 11:21 pm