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Title: are their any smaller denotations of a bit coin? Post by: TakedownRuby on July 11, 2013, 04:58:31 AM microgram is a millionth of a gram, is there a micro coin?
Title: Re: are their any smaller denotations of a bit coin? Post by: DeathAndTaxes on July 11, 2013, 05:04:21 AM microgram is a millionth of a gram, is there a micro coin? Yes. Bitcoin is divisible to the 8th decimal place 0.01 uBTC (microBitcoin). This is commonly called a "satoshi" as an honorific for the creator of Bitcoin. 1 Satoshi = 0.00000001 BTC. Title: Re: are their any smaller denotations of a bit coin? Post by: Elmore ASIC on July 11, 2013, 05:34:21 AM microgram is a millionth of a gram, is there a micro coin? Yes. Bitcoin is divisible to the 8th decimal place 0.01 uBTC (microBitcoin). This is commonly called a "satoshi" as an honorific for the creator of Bitcoin. 1 Satoshi = 0.00000001 BTC. he mvst bee talking satoshi shardz !? 8) Title: Re: are their any smaller denotations of a bit coin? Post by: tocket on July 11, 2013, 08:32:39 AM The question is if that's small enough. With a maximum of 21 MBTC, the smallest unit corresponds to 1/5e16 of that. As a comparison, there's roughly 10 trillion USD in existence, where the smallest (physical) denominator is 0.01 USD, corresponding to 1e-15 of the total. Thus, bitcoin's "advantage" here is minimal.
Title: Re: are their any smaller denotations of a bit coin? Post by: cosmicblue on July 11, 2013, 08:35:30 AM BTC - mBTC - µBTC - Satoshi
Title: Re: are their any smaller denotations of a bit coin? Post by: AliceWonder on July 11, 2013, 08:48:35 AM The question is if that's small enough. With a maximum of 21 MBTC, the smallest unit corresponds to 1/5e16 of that. As a comparison, there's roughly 10 trillion USD in existence, where the smallest (physical) denominator is 0.01 USD, corresponding to 1e-15 of the total. Thus, bitcoin's "advantage" here is minimal. It is small enough for now, in my opinion. When we get to the point in time where a μBTC becomes common denomination for buying goods (like mBTC is now) then maybe it will be time to start thinking about nBTC and pBTC. But we are long ways away from that time, so no need to fiddle with it now. In my opinion. -=- edit -=- And the smallest denomination of USD being a penny is ridiculous. Our inflationary currency has made them worthless, we really should get rid of them. Hell, I'd even be for getting rid of the nickel too but we can't because of the quarter and dime. Title: Re: are their any smaller denotations of a bit coin? Post by: aepfel on July 11, 2013, 08:51:11 AM The question is if that's small enough. With a maximum of 21 MBTC, the smallest unit corresponds to 1/5e16 of that. As a comparison, there's roughly 10 trillion USD in existence, where the smallest (physical) denominator is 0.01 USD, corresponding to 1e-15 of the total. Thus, bitcoin's "advantage" here is minimal. it is possible, to add additional decimals. Title: Re: are their any smaller denotations of a bit coin? Post by: Elmore ASIC on July 11, 2013, 09:03:55 AM The question is if that's small enough. With a maximum of 21 MBTC, the smallest unit corresponds to 1/5e16 of that. As a comparison, there's roughly 10 trillion USD in existence, where the smallest (physical) denominator is 0.01 USD, corresponding to 1e-15 of the total. Thus, bitcoin's "advantage" here is minimal. It is small enough for now, in my opinion. When we get to the point in time where a μBTC becomes common denomination for buying goods (like mBTC is now) then maybe it will be time to start thinking about nBTC and pBTC. But we are long ways away from that time, so no need to fiddle with it now. In my opinion. -=- edit -=- And the smallest denomination of USD being a penny is ridiculous. Our inflationary currency has made them worthless, we really should get rid of them. Hell, I'd even be for getting rid of the nickel too but we can't because of the quarter and dime. -.00000000000000000000000000000000000000000000000000000000000000000000000001 BTC LOL ! 8) |