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Title: Unit of measure - Satoshi (applied to alt currencies) Post by: Dapps10 on November 04, 2016, 11:33:47 AM So I started using the app "Coin Ticker" (not sure how to upload a screenshot) and it has a pretty good/near RT display of currency values.
However, it's interesting in that the main screen shows similar to this: COIN | SATOSHI | USD BTC 100,000,000 720 ETH 1,546,577 11 XMR 685,066 5 DASH 1,279,196 9 XRP 1,149 .008 .... I understand the measure of units of a Satoshi when applied to BTC (i.e. a hundred millionith of a coin), but what about the use of 'Satoshi' when applied to all the other currencies? Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: Daffadile on November 04, 2016, 05:43:56 PM What exactly are you trying to ask ?
Litecoin has litetoshi and most coins don't give their fractions seperate names but they work the same way. 8 decimal places. So COIN | SATOSHI | USD BTC 100,000,000 720 ETH 1,546,577 11 XMR 685,066 5 DASH 1,279,196 9 XRP 1,149 .008 Each currency is one whole. So ETH 0.00000001 = 1/ 100 million just like bitcoin but 100 million eth is worth 1 and a half million satoshi. So 1 satoshi = 100/1.5 = +-67 so 67/100 million ETH is = 1/100 million satoshi. Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: Dapps10 on November 05, 2016, 05:27:21 PM Thanks Daffadile for the reply.
If I understand your response, the Satoshi equivalent as applied to all other alt coins uses the BTC as a base STANDARD? (this is how I read your reply). So while BTC Satoshi's will always be 100,000,000 - other coins Satoshi's will vary depending on their VALUE to a BTC Satoshi. Correct? Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: philggg on November 05, 2016, 09:06:00 PM The application of bitcoin currency is very good i wish major currency in the world can apply the same because bitcoin rise more than dollars
Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: Red-Apple on November 06, 2016, 12:36:24 PM So while BTC Satoshi's will always be 100,000,000 - other coins Satoshi's will vary depending on their VALUE to a BTC Satoshi. Correct? No. almost all the altcoins and also bitcoin have 8 decimal places which has a meaning. it means they can go as small as 0.00000001 number. in bitcoin this number (0.00000001) which is the smallest meaningful number with bitcoin is called satoshi in honor of the creator. other altcoins like litecoin, ethereum, Doge, XMR, ... have the same rule of numbers meaning they can go as small as 0.00000001 ltc, 0.00000001 eth and so on. these don't have any names but some called litoshi for litecoin. the value is the same as anything else it is 0.00000001 * price of that altcoin. Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: densuj on November 06, 2016, 12:46:15 PM I think not all of altcoins has name the smallest unit is like bitcoin with Satoshi, and the altcoins that has it is litecoin with the smallest unit is litoshi and the other altcoins there are no that has it, but depend on the developers of altcoins and we can check official announcement the altcoins.
Title: Re: Unit of measure - Satoshi (applied to alt currencies) Post by: Dapps10 on November 06, 2016, 03:21:37 PM So I got that - and I think I figured out the problem/issue (thanks again to @Daffadile).
The display in the Coin Ticker display shows 'Satoshi's' for all the alt coins, but knowing that alt coins do not have Satoshi's (i.e. LiteCoin has litoshi's), the application of that column is the value of THAT alt coin TO a Bitcoin/Satoshi. So - Knowing that (in the example shown) that BTC Satoshi = 100,000,000 @ 720, if ETH Satoshi is 1,546,577, then 1,546,577 * .00000720 (the Satoshi value of BTC) = 11, or the price of ETH. The math/logic works - so unless I'm wrong (?) - it makes sense (I just couldn't figure out the display issues as to why it showed 'Satoshi's' for other alt coins). |