|
Title: What is a satoshi - For Newbies Post by: motun01 on July 26, 2019, 11:20:49 PM When i first joined the cryptocurrency space i only knew of Bitcoin and i was often confused about a lot of words and terminologies i heard often.
One of these words is satoshi. People often referred to satoshi when calculating the price of a coin, or when miners are talking about Rewards and in several other cases which were all similarly confusing at the time. So i want to explain satoshi in a term that is as simple as possible to understand. Satoshi Satoshi is the littlest unit that is recorded on the bitcoin blockchains: One satoshi speaks to a decimal, 7 zeros and a 1, trailed by any of the bitcoin tickers — i.e., bitcoin (BTC), bitcoin SV (BSV) or bitcoin money (BCH) Unlike what i used to think; Whenever a person states "satoshi," as a term when talking about coins or transactions, that person is really are not alluding to Satoshi Nakamoto, the maker of Bitcoin but the smallest unit of bitcoin 1 satoshi = 1 microbitcent = 0.00000001 100 million satoshis = 1 bitcoin I hope this helps you Title: Re: What is a satoshi - For Newbies Post by: adekogbe on July 26, 2019, 11:34:53 PM This sure will help a lot. I encountered similar problems when i started studying cryptocurrencies and till today it still sounds weird talking about coins in terms of satoshis. This is why i often prefer to calculate Bitcoin in its US dollars value. This can sometimes be confusing but it works well.
Title: Re: What is a satoshi - For Newbies Post by: dkbit98 on July 27, 2019, 01:33:31 AM https://s8.hostingkartinok.com/uploads/images/2019/07/489240884db73f871e67c169c8bc578c.png
There is one nice website that even calculates it and shows value in USD and predefined values http://www.btcsatoshi.com/ Cool stuff :) Title: Re: What is a satoshi - For Newbies Post by: firmino10 on July 27, 2019, 06:19:45 AM Thank you for stating this out clearly, I also use to get confused when people mention Satoshi to state the price of a coin, I find it hard to calculate. You have made it clear now that 1 Satoshi is 0.00000001
Title: Re: What is a satoshi - For Newbies Post by: welovedcrypto on July 27, 2019, 06:42:03 AM Below are units you must aware of.
1M satoshi = 1 BITCOIN 1 Satoshi = 0.00000001 BTC 1 mBTC (MilliBitcoin) = 0.001 BTC 1 μBTC (MicroBitcoins) = 0.000001 BTC (or 100 satoshi) You can check here: https://www.cryps.info/en/Satoshi_to_BTC/ Title: Re: What is a satoshi - For Newbies Post by: whtchocla7e on July 27, 2019, 08:08:40 AM Thank you very much for this. I have been in the market for more than 2 years but I do not understand bitcoin or satoshi. Sometimes the value of money my friends count on satoshi, that makes me like an outsider.
Title: Re: What is a satoshi - For Newbies Post by: djadmika on July 27, 2019, 05:55:45 PM Satoshi is the smallest unit of Bitcoin Currency and is a standard unit in the distribution of BTC itself.
Next, I have listed the satoshi price level for 1 Bitcoin. 0.00000001 BTC = 1 Satoshi 0.0000001 BTC = 10 Satoshi 0.000001 BTC = 1 uBTC (micro) 0.00001 BTC = 10 uBTC 0,0001 BTC = 100 uBTC 0.001 BTC = 1 mBTC (milli) 0.01 BTC = 10 mBTC 0.1 BTC = 100 mBTC 1 BTC = 1 BTC 10 BTC = 10 BTC 100 BTC = 100 BTC 1,000 BTC = 1 kBTC (kilo) 10,000 BTC = 10 kBTC 100,000 BTC = 100 kBTC 1,000,000 BTC = 1MBTC (mega) 10,000,000 BTC = 10MBTC Hopefully, add information that is clear and complete by others. Source : https://www.rigido.net/2017/11/nilai-dan-harga-1-satoshi-1-bitcoin.html Title: Re: What is a satoshi - For Newbies Post by: ChalakaBB on August 06, 2019, 05:29:02 AM Thanks for the info. I had no idea how much a satoshi worth. I was wondering how will the satoshi behave in the future? Will it go up or go down?
Title: Re: What is a satoshi - For Newbies Post by: arbiter5 on August 06, 2019, 05:39:12 AM Thank you very much for this. I have been in the market for more than 2 years but I do not understand bitcoin or satoshi. Sometimes the value of money my friends count on satoshi, that makes me like an outsider. Man. If you've been in the bitcoin markets for more than 2 years and you still don't understand these overly basic stuff, you've got a problem.Title: Re: What is a satoshi - For Newbies Post by: LogitechMouse on August 06, 2019, 06:30:05 AM Thank you very much for this. I have been in the market for more than 2 years but I do not understand bitcoin or satoshi. Sometimes the value of money my friends count on satoshi, that makes me like an outsider. You're in the market for 2 years and you don't know even this simple thing??I'm not saying that you're lying or you're just focusing on bounty hunting all the time that you don't understand even satoshi or Bitcoin. Title: Re: What is a satoshi - For Newbies Post by: DdmrDdmr on August 06, 2019, 10:34:30 AM Actually, Lightning Network supports a smaller unit than a Satoshi: the MilliSatoshi.
Quote // MilliSatoshi are the native unit of the Lightning Network. A milli-satoshi Ref: https://github.com/lightningnetwork/lnd/blob/master/lnwire/msat.go// is simply 1/1000th of a satoshi. There are 1000 milli-satoshis in a single // satoshi. Within the network, all HTLC payments are denominated in // milli-satoshis. As milli-satoshis aren't deliverable on the native // blockchain, before settling to broadcasting, the values are rounded down to // the nearest satoshi. Taking into account that the Bitcoin Blockchain does not suport MilliSatoshis, it does seem like a fancy unnecessary inclusion, perhaps based on considering that BTC value could skyrocket at some point (1 sat is currently 0.00012248 USD). Title: Re: What is a satoshi - For Newbies Post by: khalidxpert on August 06, 2019, 12:57:12 PM well satoshi is actually the name of its founder it was a person or a group of persons
in qty its like a micro part of bitcoin like paisa in some currencies |
