You know how the price of gas/petrol seems to include a fraction of a cent/penny?
There is no half pence anymore but your petrol bill can go: 1.5p, 3p, 4.5p... and then get rounded up or down at the end. If you didn't have the fractional penny, then you couldn't go from 1p to 3p, it would go 1p, 2p. So petrol stations benefit when batching fractional units of a good and consumers do too, because without fractional units, the price would just be 2p, 4p, 6p...
So bitcoin only has sats, but in lightning, you are going to make lots of incoming and outgoing payments and when you ever close the channel, you will settle to sats then.
Until then, we can be a little more expressive and allow for subunits of bitcoin which we find useful for keeping routing fees low and accurate.
1sat = 1000msats.
Big Barry Bitcoin
npub1pk…tpxa6
2024-08-12 19:16:47
in reply to nevent1q…apay
Author Public Key
npub1pktmatjk0l8vn3jhfuwxaasjd65kn4ye9sce3egup7k993f8fg2q5tpxa6Published at
2024-08-12 19:16:47Event JSON
{
"id": "d5af190538e9dfa86b0cbcd014fcbce998b20578687c8234c2e97fee5949e623",
"pubkey": "0d97beae567fcec9c6574f1c6ef6126ea969d4992c3198e51c0fac52c5274a14",
"created_at": 1723490207,
"kind": 1,
"tags": [
[
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],
[
"p",
"001863c7837dc05c768e4ed8d6ab2dd65d5f6af9df7e2a93190acf7f4a915c7a"
],
[
"r",
"1.5p"
],
[
"r",
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]
],
"content": "You know how the price of gas/petrol seems to include a fraction of a cent/penny?\n\nThere is no half pence anymore but your petrol bill can go: 1.5p, 3p, 4.5p... and then get rounded up or down at the end. If you didn't have the fractional penny, then you couldn't go from 1p to 3p, it would go 1p, 2p. So petrol stations benefit when batching fractional units of a good and consumers do too, because without fractional units, the price would just be 2p, 4p, 6p...\n\nSo bitcoin only has sats, but in lightning, you are going to make lots of incoming and outgoing payments and when you ever close the channel, you will settle to sats then.\n\nUntil then, we can be a little more expressive and allow for subunits of bitcoin which we find useful for keeping routing fees low and accurate.\n\n1sat = 1000msats.",
"sig": "fa7d29f491bb27d61f3c29d3e700ecdc50db765114a98ce7668f80fbfa54f462e585189634f1497d5385baf56a49a3d403de0a6df3fc8b58532f485a783732ba"
}