Fun

Sat Symbol Initiative Attempts to Get Satoshi Design Widely Adopted by the Bitcoin Community

News Feed - 2021-10-09 02:10:45

Sat Symbol Initiative Attempts to Get Satoshi Design Widely Adopted by the Bitcoin Community


Over the last few days, cryptocurrency advocates have been discussing the Sat Symbol initiative, a goal that aims to get a specifically designed symbol to represent the smallest unit of bitcoin and also get the symbol widely adopted. The Sat Symbol has been promoted by a number of crypto luminaries but others have offered alternative ideas. Initiative Attempts to Tie Symbol to Bitcoin’s Smallest Unit


Most people know that Satoshi Nakamoto is the inventor of the Bitcoin protocol, the “purely peer-to-peer version of electronic cash” that was launched on January 3, 2009. The word Satoshi has Japanese roots and the name translates into definitions such as ‘quick-witted,’ ‘clear thinking’, and ‘wise.’


Furthermore, the popular anime Pokémon’s lead human character Ash Ketchum’s name is “Satoshi” in Japanese. While the name was used by Bitcoin’s inventor, the term “satoshi” (lowercase) is also the smallest unit of bitcoin. There have been lots of attempts to get a symbol tied to the term satoshi, the smallest unit of bitcoin.


The term satoshi, when referring to bitcoin’s smallest unit, has been adopted far and wide by the crypto community at large. Around two years ago in mid-October 2019, Oxford University Press published its quarterly report explaining the word satoshi was officially added to the Oxford English Dictionary (OED) database.


The cryptocurrency bitcoin is divisible by up to eight decimal points. Each bitcoin is equal to 100 million satoshis and the protocol has a supply cap of roughly 21 million bitcoin. Now there’s an initiative that is attempting to get a symbol for bitcoin’s smallest unit adopted by the community at large. The Sat Symbol initiative hosted on the web portal called satsymbol.com.


The web portal called satsymbol.com showcases the idea as three parallel horizontal lines and there’s a small vertical line above and below the stack of horizontal lines. The website shows the orange “B” bitcoin symbol and how it relates to the satoshi design concept in animated fashion.


“Support the bitcoin design initiative to make this the official satoshi symbol – open, free, and unrestricted as Satoshi would have wanted – please share if you agree,” the satsymbol.com website details. Satoshi Symbol Discussion Re-Ignites


On Thursday evening around 7 p.m. (EST), the term “satoshi” was trending with a large quantity of trending tweets sharing the Sat Symbol initiative’s design. Microstrategy’s Michael Saylor shared the web domain on Twitter and said: “May satoshi be with you.”


The crypto pundit and self-proclaimed “bitcoin maximalist” Max Keiser decided to share an alternative idea that could represent the satoshi symbol. “Symbol for satoshi should be a tilde. It looks enough like the sign for infinity – and it’s on every keyboard. ~ 1,000,000 = 1 million sats,” Keiser added. We all have the true satoshi symbol embedded in our minds. This was a prophecy. pic.twitter.com/mGo3NAD4Cp


— MancHODL ⚡️ ∞/21M (@MancHODL) October 7, 2021



Others shared the old-school S symbol (“Cool S,” also known as the “Stussy S,” or “Super S”) all the cool kids used to draw back in the day. Bitcoin proponent ​​Dennis Porter said he agreed with Keiser’s idea. “I agree with Max Keiser on the satoshi symbol. This is on every keyboard which will make it backward compatible,” Porter wrote.


However, another person disagreed with Keiser’s take on the symbol and one person replied to Porter and said: “Max isn’t often wrong. He’s wrong on this one. This symbol is better,” while sharing a screenshot of the Sat Symbol initiative picture.


A number of others tweeted about the Sat Symbol initiative on Thursday evening. The idea to call the smallest unit of bitcoin satoshi was conceived back in 2010 when an individual dubbed “Ribuck” proposed that one-hundredth of a bitcoin should be called satoshi to honor the protocol’s inventor. This design was shared in 2019 by Ty (s@) Sign (@bitficus) and while it was popular, the idea never gathered mass adoption.


Ribuck’s idea has stuck around and most people use the term satoshi to represent the smallest unit of bitcoin but as far as the symbol goes, a widely adopted idea may not come to fruition.


The attempt to tether a symbol to the term has been tried on many occasions but every one so far has ultimately failed. In July 2019, Square Crypto initiated a trend on Twitter when it asked people to share designs that could represent the smallest increment of bitcoin. One person told Square that he designed a fairly popular idea that had gained some traction.


What do you think about the Sat Symbol initiative and the many attempts to get a symbol tied to bitcoin’s smallest unit? Let us know what you think about this subject in the comments section below. Google to Help Digital Asset Platform Bakkt Introduce Crypto to Millions of Consumers NEWS | 3 mins ago Dapper Labs Partners With Chainalysis to Curb NFT-Based Money Laundering NEWS | 13 hours ago Tags in this story 2010, Ash Ketchum, Bitcoin, Blockchain, Cryptocurrency, Dennis Porter, mainstream, Max Keiser, michael saylor, microstrategy, Sat, Sat Symbol, Sat Symbol concept, Sat Symbol idea, Sat Symbol initiative, Satoshi, satoshi design, Satoshi Nakamoto, sats, satsymbol.com, smallest unit


Image Credits: Shutterstock, Pixabay, Wiki Commons, satsymbol.com, Ty (s@) Sign (@bitficus), Twitter, Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Thai SEC Proposes Banning Crypto Businesses From Staking and Lending Activities
Thai SEC Proposes Banning Crypto Businesses From Staking and Lending Activities The Thai Securities and Exchange Commission (SEC) has proposed banning businesses from engaging in c
Kosovo Halts Cryptocurrency Mining Amid Energy Crisis
Kosovo Halts Cryptocurrency Mining Amid Energy Crisis The government of Kosovo has decided to suspend crypto mining activities in the country as part of measures to deal with power
Bitcoin resets bull market BTC price metrics as April dip passes 7%
William Suberg14 hours agoBitcoin resets bull market BTC price metrics as April dip passes 7%BTC price action may be upsetting for leveraged longs, but Bitcoin market observers are finding reasons for optimism.14385 Tota
Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts
Argentinian Tax Authority Will Be Able to Confiscate Digital Wallets to Collect Tax Debts The Argentinian Tax Authority (AFIP) will now be able to confiscate the assets that taxpay
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices
Challenging Year for Bitcoin Miners as Fewer BTC Mining Rigs Are Profitable at Current Prices Bitcoin miners have had a challenging year as the network’s mining difficulty r
Ertha’s Inter-Metaverse Portal NFTs Bought for $60K
Ertha’s Inter-Metaverse Portal NFTs Bought for $60K sponsored It’s now possible to travel between metaverses thanks to Ertha’s Portal NFTs. The game’s passion
Arijit Sarkar1 hour agoBinance launches Web3 wallet for its 150M registered usersThe Binance Web3 wallet has been launched within the primary Binance app, which is predominantly used for trading cryptocurrencies.1000 Tot
Sberbank to Conduct First Digital Asset Transaction on Own Platform
Sberbank to Conduct First Digital Asset Transaction on Own Platform Russia’s largest bank, Sberbank, is going to carry out the first transfer of digital assets on its own de
Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far
Bitcoin Stamps Emerge as New Image-Storage Trend on the Bitcoin Blockchain, Over 8,000 Stamps Minted So Far After the Ordinal inscription process gained significant traction on the
Bitcoin’s Four-Month Bear Trend Intact Even After 16% Price Rise
View Bitcoin remains trapped in a four-month falling channel despite registering double-digit gains last week. Prices could pull back to former resistance-turned-support of $8,800 in the next 24 hours. The bearish case w
Kyle White1 hour ago3 metrics DeFi traders can watch in order to spot the next crypto bull marketTVL, fee revenue and wallet activity are just three metrics investors can use to assess the health of the DeFi sector.331 T
A New Price Valuation Model Says $10,670 Fair Value For Bitcoin
A New Price Valuation Model Says $10,670 Fair Value For BitcoinSeba, a Switzerland based bank, is proposing a Bitcoin valuation model that places its fair value at $10,670. At this