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Goodbye Satoshi? Jack Dorsey Calls for a Bitcoin Rebrand

Jack Dorsey backs BIP 177, a controversial proposal to rebrand Bitcoin’s base unit from “satoshis” to “Bitcoins.” Discover what this change means, why it’s sparking debate, and how it could reshape Bitcoin's identity and usability.

In the ever-evolving world of cryptocurrency, even fundamental concepts are not immune to change. Jack Dorsey, former CEO of Twitter (now X) and a prominent Bitcoin advocate, has recently backed a bold proposal to rebrand Bitcoin’s smallest unit—known as the “satoshi” or “sat”—into simply “Bitcoin.” The idea stems from Bitcoin Improvement Proposal 177 (BIP 177), authored by software developer John Carvalho, and is now stirring debate across the crypto community.

Table of Contents

Understanding the Proposal: What Is BIP 177?

BIP 177 proposes redefining Bitcoin's base unit from “satoshis” to “Bitcoins,” thereby removing the common use of decimals in displaying BTC amounts. Currently, 1 Bitcoin equals 100,000,000 satoshis. Under this proposal, the smallest unit (1 satoshi) would be rebranded as 1 “Bitcoin,” and the current full Bitcoin (BTC) would simply become 100,000,000 Bitcoins.

For example, instead of writing 0.00002525 BTC, the same value would be shown as ₿2,525 (using the proposed unit). The new framing is designed to make Bitcoin amounts easier for average users to understand, which could potentially encourage everyday usage.

Jack Dorsey’s Endorsement

Jack Dorsey didn’t just quietly support BIP 177—he actively promoted it. In a series of posts on X, Dorsey stated:

“'Sats' is definitely the wrong term and is stopping everyday people from acquiring and spending Bitcoin.”

He further expressed concern that Bitcoin must evolve into real money used daily, not just a speculative store of value. For Dorsey, the rebrand is about clarity, accessibility, and paving the way for mass adoption.

The Case for Change

Supporters argue that the current decimal-based Bitcoin system—requiring users to navigate up to eight decimal places—creates unnecessary complexity. They believe this complexity deters newcomers from engaging with the currency and complicates routine transactions.

John Carvalho, the author of the proposal and CEO of Synonym (a Bitcoin software firm), emphasizes that the change is not a gimmick or an attempt to solve “unit bias,” the psychological tendency of investors to favor coins with lower nominal prices. Instead, he sees BIP 177 as a way to align Bitcoin’s presentation with how the ledger actually functions.

“Bitcoin’s ledger represents values as integral base units. The decimal point is merely a human-imposed abstraction,” says Carvalho.

Other proponents, like Bob Bodily (CEO of meme coin launchpad Odin.fun), argue that this rebranding could make Bitcoin feel more intuitive and appealing—especially in comparison to meme coins that rise based on the “get to $1” mentality.

Critics Push Back: “It’s Confusing and Misleading”

Despite growing support, BIP 177 is not without fierce opposition. Critics warn that renaming satoshis as “Bitcoin” could create massive confusion, especially around the widely understood concept of Bitcoin’s scarcity.

Currently, there are only 21 million Bitcoins. If the base unit is rebranded, that number would seemingly swell to 2.1 quadrillion “Bitcoins”—even though the total value and supply remain the same. For Bitcoin traditionalists, this change undermines years of education and communication about Bitcoin’s limited supply.

Podcast host Bram Kanstein criticized the proposal, stating:

“It destroys the entire understanding of 21,000,000 max supply… One dollar equals 100 cents, 1 Bitcoin equals 100,000,000 satoshis. It is not difficult.”

Others accused the proposal of feeding into “unit bias” and called it a needless disruption that risks breaking the carefully cultivated image of Bitcoin as a scarce and valuable digital asset.

A Battle of Narratives: Clarity vs. Tradition

What makes this debate particularly striking is that both sides claim to be protecting Bitcoin’s long-term value. Supporters of BIP 177 argue that reframing the unit will make Bitcoin more usable and understandable, which strengthens its potential as money. Detractors, meanwhile, believe that preserving the current terminology is essential to upholding Bitcoin’s brand, history, and scarcity narrative.

Carvalho dismisses emotional objections to the proposal, arguing that they lack rational basis:

“The proposal is entirely rational, thus difficult to refute, so instead we get emotional displays.”

He even suggests a new ticker—perhaps “BIT”—to distinguish these rebranded units from the legacy BTC.

What Happens Next?

As of now, BIP 177 remains a proposal. Carvalho has submitted it for feedback through official channels like the Bitcoindev mailing list, but broad adoption would likely require informal consensus and market-driven change rather than a hard-coded protocol update.

Carvalho isn’t rushing things. He told Decrypt:

“Bitcoiners are stubborn and need time. BIP 177 is inevitable anyway.”

Conclusion

The rebrand debate taps into larger questions about Bitcoin’s identity. Is it primarily a store of value, a speculative asset, or digital money for everyday use? Dorsey’s endorsement of BIP 177 signals a desire to push Bitcoin toward daily usability, even if that means rethinking terminology enshrined since its inception.

Whether or not this proposal is ultimately adopted, it has already reignited important conversations about how Bitcoin is perceived, communicated, and used. And in a space where consensus is hard-won, even small shifts in framing can carry enormous implications.

FAQs

What is BIP 177?

BIP 177 is a Bitcoin Improvement Proposal that suggests rebranding Bitcoin’s base unit, the satoshi, as “Bitcoin.” This would shift how Bitcoin amounts are displayed, removing decimals and making small amounts more intuitive to users.

Why does Jack Dorsey support this proposal?

Jack Dorsey believes that the term “sats” is confusing for everyday users and acts as a barrier to adoption. He supports BIP 177 as a way to make Bitcoin more accessible and usable as real money, not just a speculative asset.

What are satoshis and how are they used today?

A satoshi is the smallest unit of Bitcoin, named after its creator, Satoshi Nakamoto. One Bitcoin is made up of 100,000,000 satoshis. Today, satoshis are used to measure small amounts of BTC in wallets and transactions.

What would change under BIP 177?

If widely adopted, BIP 177 would redefine 1 satoshi as 1 “Bitcoin,” and current BTC would become a larger unit (like a “megabitcoin”). For example, 0.00002525 BTC would be displayed as ₿2,525.

What are the arguments against BIP 177?

Critics say the change could cause confusion, dilute Bitcoin's core message of scarcity (21 million coins), and undo years of public education. They argue that the current system is simple and already well-understood.

That's all for today, see ya tomorrow! If you want more, be sure to follow our X (@croxroadnewsco), Instagram (@croxroadnews.co), Youtube (@thebitcoinlibertarian), Tiktok (@croxroadnews) and nostr - [email protected]

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

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