Serious Proposal: Nakamoto is the new name of the 5th decimal of Bitcoin.

Serious Proposal: Nakamoto is the new name of the 5th decimal of Bitcoin.

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Q: Why name a decimal?

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A: Like satoshi (0.00000001 BTC) it is easier if decimals have names.

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Q: Why do we need Nakamoto, we have Satoshi?

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A: The bitcoin to satoshi ratio is 100 million. The Nakamoto is in between bitcoin and satoshi, because the satoshi to bitcoin ratio is a little bit to big for regular everyday business. Not much in your everyday life costs one bitcoin or one satoshi.

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It is easier to say that a sandwich costs 4 Nakamoto than to say it costs

0,00004 bitcoin or 4000 satoshi. This will help when you remember and compare prices.

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Q: Why the 5th decimal?

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A: There is a need to do business today not tomorrow and to compare with the dollar is reasonable for most people. Today you get 2 Nakamotos for one USD. This will help regular people understand the value. It will also help business owners list prices both locally and on the web.

Yes the value will change but it will be possible to keep it within understandable ratios for at least a few years, to promote adoption.

If BTC reaches 100k then one dollar buys one Nakamoto. If BTC reaches 200k then you pay 2 dollars for a Nakamoto. Of course we do not know anything about the future value but if it goes down you can say: now you can get 5 Nakamotos for a dollar!

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Q: Why not use the metric system and call it millibitcoin or similar?

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A: I do not think people will use that name and also it will not give the 5th decimal a "special" meaning. You might talk about millibitcoin one day and the next day you say microbitcoin and it is confusing.

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Q: Why the name Nakamoto?

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A: Following the "naming convention" of satoshi for the smallest unit, it is a tribute to the original creator of Bitcoin.

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Q: But why?

A: I think this will facilitate adoption.

And I think it will solve everyday problems of displaying prices in shops, bars, webshops and wallets.

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That is my Nakamoto.

(Note: at the time of writing this post one Nakamoto equals 50 cents)

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Best regards.