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The current price of bitcoin makes it seem as if the world’s leading cryptocurrency is no longer approachable by mainstream users. A five-digit price point makes people rethink their decision, as most assume they still need to buy one full bitcoin. Introducing denomination in satoshis can, in my opinion, make a lot more sense when onboarding newcomers. It may take some effort before the satoshi standard becomes commonplace, though.

The Bitcoin “Acquisition Problem”

Most people in our society can only think in full coins. One dollar, one euro, one pound sterling. Although we can all use change, no one is a fan of the system. If something is priced at $4.22, we will pull out a $5 bill and dump the change we receive into a pocket somewhere. Society likes round numbers, which creates an annoying problem when dealing with bitcoin. Convenience often trumps everything else but acquiring bitcoin with that mindset isn’t necessarily convenient.

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Blockchain Beat

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