Making Bitcoin easier to use — that’s how it’s going to happen!

Bitcoin is already considered too “expensive” by new investors. Many forget thereby that a Bitcoin consists of 100 million units called Satoshis (Sats). Adam Back, CEO of Blockchain development company Blockstream, sees a similar problem.The computer scientist and cryptographer has suggested that an intermediate unit be established at Bitcoin to make it easier for traders and investors.For many, the unit of measurement Satoshi (Sats), named after Bitcoin’s inventor, Satoshi Nakamoto, is confusing. Conversion into a Fiat currency is not always so easy and self-explanatory. Besides, the price of Bitcoin is perceived as “too expensive” compared to other cryptocurrencies.Adam Back has taken up precisely this circumstance and called for an intermediate unit. In a Tweet, he presented the unit “bits” again.In his opinion, it is time for a restart of the bits unit of measure. Back calls for using bits as the smallest unit of measure for Bitcoin because this makes handling BTC much easier.Bits correspond to one-millionth of a bitcoin. Therefore, one bit consists of 100 sats. In the Tweet, he said:Sats are confusing. As far as I can tell, Sats were designed by Satoshi as bitcents under bits. 1 million is much easier than a 100 millionth base. Even Bitcoin-qt (core) had bits for years. You still have sats, just bits and bitcents (aka sats), like dollars and cents.Back continued:“A Bitcoin is too expensive, but sats are too many, sound cheap and confusing.” It is “hard to find out what you bought.”When the price of Bitcoin reaches $1 million, a bit will still be cheap. One bit would then equal exactly 1 US dollar.He added that when you buy fractions of a Bitcoin, there is “general confusion” among newbies. It seems unmanageable and cumbersome for a conversion.Adam Back’s tweet caused a lot of attention, and many well-known faces from…