✍️ 28 November, 2022 – 19:23 👤 Editor: Jakub Motyka
- The satoshi is the minimum unit of measurement used in the Bitcoin (BTC) system.
- It was named after the mysterious creator of BTC, Satoshi Nakamoto. How many satoshis are a Bitcoin? Does the ratio change based on the price of Bitcoin?
- The latest news about cryptos is on our Telegram channel.
The original idea of Bitcoin (BTC) was the creation of an electronic exchange system, fully transactional and outside the control of traditional banking, however, its popularity has made Bitcoin must be divided into Satoshis, it is unclear how many of these make up a BTC. Despite everything, this has made the daily use of this currency much easier, causing its adoption to be more natural
The Satoshi is a currency named after the father of Bitcoin and blockchain technology, Satoshi Nakamoto . It is the minimum unit of measurement in which a bitcoin can be divided. Its use became popular thanks to various Bitcoin games and faucets that, in exchange for completing certain tasks, gave away a certain amount of satoshis.
How Many Satoshis Does A Bitcoin (BTC) Have?
As said before, a satoshi is the smallest unit in which a Bitcoin can be divided. In this way, 1 satoshi is equal to one hundred millionth of a BTC.
Source: UnsplashIn other words, 100,000,000 satoshis are equal to one Bitcoin. This ratio is standard and will be maintained regardless of the current value of the asset.
What Are Satoshis Used For?
According to the document “Bitcoin: a P2P electronic cash system”, written by Satoshi Nakamoto, Bitcoin should be divided into 100 million parts. This ensures that no matter what price it may reach in the future, it will continue to have a practical use as a currency of exchange.
In other words, the use of satoshi seeks to create a tabulation system that can be used in the future, regardless of the price that Bitcoin may have . It is not the same to pay 10,000 satoshis than 0.0001 BTC for a coffee, as anyone could get confused when placing the zeros after the comma.
In this way, the use of Satoshis opens the possibility of carrying out microtransactions using cryptocurrencies. This can be for the payment of commissions per transaction, or even payment for content on decentralized streaming platforms. An example of this could be a platform similar to Spotify, where authors receive a small compensation, in the form of Satoshis, for each playback.
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- What Is The Bitcoins (BTC) Future After This Crypto Winter?
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- How To Buy Gold With Bitcoin (BTC)
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