About a year ago we wrote an article about a symbol we thought satoshi deserves. The article said: “Crypto enthusiasts haven’t decided on an official symbol for satoshi yet. Some said that it doesn’t need a symbol and the abbreviations sat and s were good enough, but we think that satoshi is used so often it needs a symbol, that conveys its purpose and is recognizable at a glance.”
What is satoshi? Satoshi is a small fraction of bitcoin, namely 1 satoshi is 0.00000001 bitcoin.
Why do people use satoshi
As you can see on our market overview page, Bitcoin is still dominating the cryptocurrency market and the price flow of Bitcoin is influencing all other coin prices. 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.
Other satoshi symbol proposals
There were already some proposals for an official symbol for satoshi, but these proposals were never widely adopted. Proposed symbols came for example out of the Japanese language. The problem with these symbols is that the majority of the crypto space is not familiar with the Japanese language. And more proposals came up, such as the dragon symbol or again, not using a new symbol at all.
Our satoshi symbol proposal
The symbol you see in the image above is the letter ‘ș’ from the Romanian alphabet. The ‘ș’ stands for two things; the s for satoshi and the comma beneath it stands for its purpose. This purpose is to show the prices compared to bitcoin with a clear number organized by commas, instead of a row useless decimals behind a dot.
How did people react to our new symbol?
After a year, we were curious if the majority adopted our proposed symbol ‘ș’ and what the crowd thought of it. Some reactions:
So, we adopted it on Coinranking, but we hope others will also adopt the satoshi symbol we proposed. What do you think of our proposal? Do you agree with one of the reactions? Let us know if you think this symbol should be used from now on or if you have seen it somewhere, used as the satoshi symbol.
Curious about other prices of cryptocurrencies in satoshi? Choose satoshi as currency in the preference menu on Coinranking.com.