Square Payment App Looking To Source a New Symbol For Bitcoin’s Satoshi Unit
A Satoshi (sat) is the smallest unit of Bitcoin. While a single BTC has eight decimal places, it consists of 100 million Satoshi. Its name derives from the mysterious creator of Bitcoin, Satoshi Nakamoto.
SAT is becoming more common in day-to-day blockchain and cryptocurrency conversations. Bitcoin mining software like HoneyMiner pay your mining reward in SAT, #StackingSats is a hashtag used frequently on Twitter, and the Lightning Torch was accounted for in satoshis — just to name a few instances of the word being used.
The pursuit to give satoshi a symbol is nothing new. Earlier this year the popular subreddit r/bitcoin had been buzzing with fun and action lately since users are trying to find a proper symbol for Satoshi
Now, Jack Dorsey’s Square payment app is trying to start a movement on Twitter to do the same by asking followers to design the symbol for Satoshi. And the Twitter community did not disappoint.
For sure. Send us your ideas and we’ll retweet our favorites. 🌀 https://t.co/V1QGYFVdUv
— Square Crypto (@sqcrypto) July 28, 2019
The price flow of bitcoin is influencing all other coin prices because most crypto trading happens against bitcoin. So seeing coin prices in bitcoin value gives you a clear and stable insight concerning the price performance of a coin. People use satoshi instead of bitcoin because it is more convenient to calculate with satoshi than with bitcoin.
Some people submitted serious replies with Unicode characters, others did not. One of the most submitted figures was the “S” that was famous in schools in the 90s.
More of the serious replies were:
The downside is that there’s no Unicode symbol yet, and it took years for the ₿ to be accepted. It’s good to remember though that the Bitcoin community used ฿ and Ƀ to represent Bitcoin for years until the ₿ became standardized. In the meantime, wallets and apps could render the satoshi symbol themselves and we could use s and sats in writing.