Bitcoin Forum

Just came across this on Reddit and thought it will be helpful here.
https://i.ibb.co/0rwQXY4/RDT-20220726-164156366738292580149465-11zon.jpg (https://imgbb.com/)
Source:
https://www.reddit.com/r/Bitcoin/comments/w85wvx/guide_to_stackin_sats/?utm_medium=android_app&utm_source=share

Impressive, many wouldn't have know to understand that bitcoin has another smaller unit named satoshi, i see this of good relevant for beginners to onow the units and how they can make conversion as well to the standard rate, i wish there could be more mathematical expression in explanation of these steps better just to make it more easier for the newbies, because this is common to them as most neebies are faucet hunters in which some get paid in Satosh.

I’ve of the wondered how many people have though beforehand that they can only acquire full BTCs, without knowing (or not until a later stage) that they can and probably will go for fractions (i.e. Sats).

By the way, sometimes certain information can actually be rather misleading. Take for example a good look at Coinmarketcap’s entry for Sats. Displaying the info in manner they do makes it look rather much like any of these altcoins that sell their coins by the hundreds to the dollar …:

See: https://coinmarketcap.com/currencies/satoshi/

I've encountered a number of such cases. They either didn't know they could buy fractions of Bitcoin or they were not used to buying fractions of an asset, so thought it's unprofitable, sort of like it would be unprofitable in the long run as they did not get a full stack.
Such people would rather opt for assets which are dirt cheap, cause they see more potential for growth if the held millions of a token, compared to fractions of Bitcoin.

In my opinion (after observing the image), i think the satoshi table is teaching us how we can accumulate bitcoin strategically if the aim is to hold bitcoin in the long run. The sequence of the satoshi if followed can help a bitcoin enthusiast to get to 1 btc over a period of time.

The first step would be to find out in $ how much 1 or 1000 or 10,000 satoshi costs;
Then figure out if your finances would cater for a daily, or weekly or monthly purchase of selected satoshi.
Determine the time frame to become a btc owner
Accumulate satoshis according to your schedule.

I believe this is what the table is trying to break down to help new investors. The bigger question is, is this achievable by anyone or do we have anyone who has tried out this similar methods before ?

Congratulations, you just discovered DCA - Dollar Cost Averaging.
That's one of the most ideal ways to stack up bitcoins without pressure of checking the price to determine the best buy in time.

You described how it works properly in your post and it's a workable formula that many people have used to acquire bitcoins and other assets as well.

Save or collect 0.01BTC and you are a Satoshi millionaire. Isn't it something to be proud of? 0.01BTC is still in reach of everyone.

Still there are people who think they will have to buy a whole bitcoin. I don't know how the psychology works but when you talk about bitcoin to someone and tell them the price they usually ask that's lot of money. Then you need to give another lecture, you can buy any amount of bitcoin anytime. Somewhere I read by 2030 there will be 1 billion bitcoin user. It seems reasonable to me 😉

For people to use Bitcoin, they would have to own it first. With a world population of about 8 billion, I would say it's unlikely that about 12.5% of that number would hold Bitcoin in the next 8 years, that's a quantum leap and is not feasible imo.

I think I also saw a post around the forum recently, discussing that topic; it would likely have involved all cryptocurrencies and with that would still be an optimistic claim.

Yes it is an achievable method, a user mustn't go for the goal of reaching 1BTC, so you do not invest more than you can afford to lose in trying to achieve that, just 'dollar cost average' on what you can afford periodically and grow your portfolio, the thing is to ensure that whatever amount you're allocating for DCA should not affect you financially in RL, accumulate on your own financial pace, after all it's a long term investment.

There is someone who wants to call those small fractions of Bitcoin into bits or mbits which is not the appropriate name for sats.

Actually, before I know Bitcoin I first earn sats from faucets until I learn that the sats or satoshis are the small units of Bitcoin.
There are other unit names like uBTC, mBTC, and kBTC but mostly we use BTC instead of them.
Better read more about Units and divisibility here (https://en.wikipedia.org/wiki/Bitcoin#Units_and_divisibility)

We have already similar on this thread created by @GreatArkansas before, [Did you know?] Bitcoin Table of Units (https://bitcointalk.org/index.php?topic=5239694).

I didn't know also before that there's the smallest fraction aside from satoshi and I thought it was the smallest fraction.
Sometimes reading fractions made us confused about the real amount of Bitcoin.

This thread is not about steps to owning Sats. The title does not refer to what's being talked about in the OP, and vice versa.

Anyway, it is enough just to know that we don't have to buy a whole Bitcoin. You don't have to buy a specific amount of Satoshis, either. You just have to buy what your money can afford. But if you've only got like a dollar or two, while you can already buy Sats with that, it is better to save some more fiat. The fees, premium, or spread may not be worth it.

Websites for Dollar Cost Averaging DCA (https://bitcointalk.org/index.php?topic=5404885.0)
Amongst them, that one is the best in my opinion: https://dcabtc.com/ because OP wants to DCA with Bitcoin.

Dollar Cost Averaging can be used in both bull and bear market but I think in bear market, it shows biggest effect in long run. It helps to get rid of fear and hesitate to get in. Then when a new bull market comes, you will harvest good profit from your DCA-seed during many months of bear market.

Actually some prefers btc even a fraction of it. But I also encountered who uses Satoshi for the part they own btc. This isnt a guide on owning btc but a characterization of quantity of satoshi to btc. In my opinion even though you had a little least satoshi(btc) it would be better to still call it btc even it is only 0.000001btc cause others might interpret this as different cryptocurrency if they arent aware of the historical terms on crypto especially on bitcoin.

And I would say the title is misleading because I doubt you can buy 1 sat or just 10 sats, plus if you could do that you couldn't transfer them to your hardware wallet. Even if it appeared in your exchange account that you have 10 sats, it wouldn't do you any good, at least at today's prices.

And I would say the title is misleading because I doubt you can buy 1 sat or just 10 sats, plus if you could do that you couldn't transfer them to your hardware wallet. Even if it appeared in your exchange account that you have 10 sats, it wouldn't do you any good, at least at today's prices.

If you want to stack sats, make it at least 1,000 in 1,000, and if it is 10,000 in 10,000 or greater amounts, even better. Then a problem that people who collect sats that win in faucets find is that to transfer them for having many inputs of little amount, the fees eat up what they have.

If people knew this, or better yet if we're using a smaller denomination like sats by default, I could almost guarantee that there would be far less demand for the so-called "cheap" coins like XRP, Cardano, etc. The reason why a lot of altcoins are attractive to noobs is because they think they're "cheap"; despite them having a freakishly high marketcap, just a low unit price because of the very high supply.

Bitcoin can be owned in bits and I must say one does not have to own 1 Bitcoin, but then this will lead us to another question of what amounts of satoshi can be spent and what amounts are referred to as dust amounts.

This is the thing which people ignore while investing that stacking sats is also possible in bitcoin but yes at the current rates you won't get anything for 1 satoshi so it's advisable to invest a little higher portion keeping up the fees at that time.

People have mindset that bitcoin is highly expensive even if it has lost it's 60-70% value at $18k and see they need to have full one bitcoin but it's not true and you can invest small amount you are willing to put in some shitcoins also giving you guarantee of your funds also but no they just prefer the latter option of shitcoins.

Slowly you can acquire one full bitcoin but till then stacking sats is perfectly fine according to me and if you can then DCA investment strategy is best for you.

We will never know if you are right, unless at some point everyone would agree and start showing the amounts exclusively in smaller denominations - although I think that most people would still not resist buying 1 xxx coin for the same price instead of 0.0001 BTC. The problem, if we can call it that at all, is that everything revolves around possible profit, and everyone wants as many coins as possible at the lowest possible price, and they don't really care what they buy.

As for the market cap, it is a real illusion that more or less all altcoins sell successfully - and if all altcoins were limited to 21 million coins, only then we would see how much they are worth compared to Bitcoin.

Yes, but I think it's a very safe assumption. I get how most people wouldn't get the importance if you mostly just communicate on Bitcointalk(because I guess Bitcointalk is slightly smarter than mainstream social media), but I personally talk to a lot of newbies interested in crypto and it's scary how much people say "I bought XRP because it's still cheap and hopefully someday it will reach bitcoin's price".

Those people that don't own bitcoin thinks like this. They're also scared of asking people to own bitcoin when they've known that they've once said something bad against it.

This is the beauty of bitcoin that it's not really a requirement to own 1 bitcoin but you know what, this is becoming the plan and the goal of the majority. To at least own 1 bitcoin.

Probably everyone in their heart wants to become a millionaire. 0.01BTC is a great opportunity to feel like one. Satoshi millionaire sounds proud and greatly. You can brag to your friends about your "countless" wealth. :)

For now, Satoshi millionaire sounds funny, but in the future there may come times when Satoshi millionaire will really be a rarity and this title will be honorary and the envy of others.

It's not too late yet, because 0.01BTC is worth ~230$. This is the current price of Satoshi millionaire title.

I would not agree that satoshi millionaires will be a rarity in the future, because Bitcoin has existed since 2009 and many people had the opportunity to buy it, as they have the opportunity to buy it today. A few hundred $ to achieve this will not change much even if the price of BTC is x5 or x10 in the future, just as probably no one will get rich from owning 0.01 BTC.

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I stopped telling people what to do with their money a long time ago, and that includes any cryptocurrency advice. If someone thinks they will profit from buying coin X or Y, so be it, everyone is responsible for their actions. As I said before, people are mainly there for profit and they are not interested in Bitcoin because of what it represents.

I like the phrase Satoshi millionaire. O haven't heard it from anywhere else though, I am not sure if it's originating from this forum such that Hodl did originate from here. About becoming a satoshi millionaire with few hundred dollars, it will still make the person become a satoshi millionaire because a few hundred dollars will not become real time millionaire when converted to fiat. But it is important that everyone owns some fractions of bitcoin, it could become very huge in the future.

In 2017, that used to be weekly payment for Full Members in signature campaigns. I know senior rank got paid around 0.012btc to 0.018btc weekly in regular campaigns. It was worth around $100 or slightly above it then.

At some point, I thought I was the one who missed the point in the OP. Glad to know that someone else noticed what I thought too.

That's the way I look at it too. I don't pile up pressure on myself for wanting to own Bitcoin. Just buy when you feel you've free cash to spare.

Before that there were campaigns that used to pay 0.1 BTC or more 😉
It's always the dollar value against the BTC you get.

For some reasons if BTC drops under $1k (God dammit it's not gonna happen) then a Legendary receiving 0.1BTC a week will not be surprising at all. I will love it 🤣

Totally get what you mean. But it's undoubtedly a net positive for this world (and markets) in general if people in general would be less attracted to these "cheap" shitcoins.

People who lose money investing in crap are stupid, and maybe they deserve it, and maybe it's also a needed lesson. But it ain't fun seeing some people(or idiots) lose their life savings by buying shitcoins.

This is very helpful for newbies who just got to know about bitcoin. When they heard about bitcoin they always think that bitcoin is not cheap for some people and didn't know that it is not necessarily to buy 1 bitcoin when you can buy less than a bitcoin which is why the op shows that there is a smaller unit of bitcoin the same as fiat where there are coins. There is a person I know that I asked why he didn't buy Bitcoin and his answer is buying bitcoin is not cheap and it will cost me a lot of money so I told him that you can buy smaller amount since bitcoin have smaller unit called satoshi.

Yes, you are right, x5 or x10 will not make you a millionaire in the short term. This is approximately $1,000-2,000 for 0.01 btc. Even if 10k-20k$ is still far from being called a millionaire. But I had in mind a slightly different time period, which I should immediately clarify. I spoke about the distant future, in 100-200 years, when even 0.01 btc can become an impressive value. Of course, holding bitcoin for so long is pointless because of the length of life and if not considered as a legacy for distant descendants. So, from a rational and practical point of view, your version is better than my futuristic one.

Also, one should not exclude such a possibility (a little from the category of fiction) that in the future, due to some event or incident (bitcoin-apocalypse), most of the bitcoin may be lost (we can’t say anything without the “magic crystal ball”) and then, the community will have to be content with a smaller number of btc and even a modest 0.01BTC will look like a lot.


This title will allow to amuse pride and vanity, and can also become a worthy gift for great-grandchildren, as I said above. :)

Shitcoins are scam and i don't feel negative when people lose their money in shitcoins when they can actually own a satoshi why go for other coins that don't have reliability? An altcoin is a total waste of time.

Jus to note, its not as easy as the photo presents. A look at it and one could think, it's just a step through and yeah, it really is a step through but don't forget, before you probably move to the next one (1) in that 0.000... series, you have to move 10steps in that position and then you could archive on. Same way with the current position which is also a multiple of the previous and so the chain reaction continues.
It's not entirely easy but that shouldn't stop someone from trying. You could continue to try, buying the most you can when you can and as time goes on, you would be amazed as to how much you've accumulated.

People use or prefer to use BTC and mBTC not because they are not aware of the existence of sats but rather because using the former makes things easier (less zeros).
Besides, the dust amount is 546 for legacy addresses and 294 for segwit. So, you can't really buy amounts smaller than that (unless you're going to use the lightning network). And we should not forget the transaction fee which is probably gonna cost more than the amount to be sent.

I also use to make similar satoshi mixup before until i realized and learn how it all works, then i use to think one have to earn the entire one Bitcoin which seems to be too expensive to me until i discovered i can actually own the smallest bits.

Not that I disagree with you, but you have to understand that a lot of people try to profit by investing very little to buy a lot of something that they would like to sell at least x100 price. In a small percentage it can even succeed, but these are pump&dump schemes orchestrated by the owners of these shiticoins and people close to them.

It is said that people learn best from their mistakes, and I always hope that many will learn that way. Unfortunately, there are always some new and naive players who continue the game, and because of this, more and more people try to sell their project as the real one that will generate a lot of money for everyone who invests at least a few $.

They want to buy lottery tickets and get rich easily. It is as same as lottery, you will hardly win a lottery but it is still very small chance. The matter is after you win a lottery ticket, will you whether be able to secure the big money you win? Will the win make your life better?

Most of loterry winners lose their money fastly. Their lives even become worse after they go poor again. They can have big debt that they did not have before a lottery win. In addition, they can lose their wife or husband, their whold family too. So if I can choose, I would like to avoid such lucky win.

Same to get rich quickly by betting in cryptocurrency, you will repeat that bet style again and again. In the end, you net of loss will be bigger than your net of profit. Poor in the end.

They realize they made mistakes after losing money but they think they are  genius by doing the same but get profit fortunately. They repeat it again and unfortunately lose money again. So they do the same many times but blame on luckiness for their win or loss.

That’s a shared experience by many. This likely happens a fair share when people live on the outskirts of bitcoin, but as soon as one takes the first steps to look into actually purchasing some BTC, beyond looking at the chart/price ratings, one soon discovers the fractions.

Actually, this misconception has been going on for ages, and if we dig deep enough on this forum, I’m sure we’d find some interesting posts on the matter, bearing in mind though when reading them that the context is now different than way back (BTC price, number of Exchanges, volume of information out there, number of people in the market, etc.).

For example, this thread from 2013 (https://bitcointalk.org/index.php?topic=337290.0) dealt with the matter at hand (with BTC just over 500$ then):

Exactly alot of works have been put in to obstically explain the subject matter with relevant data and statistical data to back their information up, the timing may have changed a lot but that information is still very much relevant to the contemporary discussion.

I have never fallen between that presumption that any other coin will be worth like Bitcoin, I have never had any trust in altcoins because altcoins are created out of a Ponzi idea with just a promise of giving a 10x return without any variation to support such a claim of shitcoin reaching Bitcoin.


Some of them even go as far as having the mentality to be a replacement for Bitcoin, which is far from actualization Bitcoin will continue to be king among others.

I have that mindset before but looking at some, very few of the projects in altcoins. They've got something to offer not just for being a token or coin but use cases for which companies can use and apply for their businesses. Although, I don't like the idea of it and just want to stay focused into bitcoin. The opportunity has gotten wide for a few of them but it doesn't matter if you've been a bitcoin maxi and that's totally fine. But those altcoins that made their developers think that they're going to surpass bitcoin, I'm with you on that. They're crazy to think that they can surpass the king.

Just see Bitcoin as fiat money despite that it's a decentralized currency, in fiat currency you can have as your ability reach to have fiat currency, because it's obvious that it's not every body that knows about bitcoin, and having Bitcoin it's dependable by your capacity or capability of your funds, so therefore it's not everyone is big man and it's everyone will be opportune to secure 1bitcoin.

It's actually a cool idea stake up SATs like that though.... Everything boils down to money and that'll make some Peeps develop an apathy for HODLing....but this system is really reviving and you could even stake up alot without even noticing 'em.
HODLing btc is one thing though but the most important thing there is; preparing your mind to lose or gain from "em, as the case might be. Overall, it's good to understand totally, what anyone does and how it works.

Sandra 💇

People today want to have one bitcoin immediately but they don't think that every time they accumulate a satoshi they can make their bitcoin sooner or later. This thing can be a good set to have a goal which is trying to achieve a 1 bitcoin, I tried this before but due to having different things for sustain daily living quite hard to have this still one of my dream to get.

I guess it is better to accumulate bitcoin in bits which is much better and easier to do than waiting until one can buy one whole Bitcoin before investing in Bitcoin.

Bitcoin accumulations will be in bits I think that sounds better than in whole since one can easily set aside $100 monthly to buy Bitcoin and in a few years one can easily own a bounce of Bitcoins.

What is the patient level of the holder is what plays a big role in how consistent he will be in buying Bitcoin bits by bits, this is also the measure reason why some other holders will want to go all in at once by buying one whole BTC at a go rather than taking the pain to accumulate in percentages?

But in general idea this ops method work with those that have strong resistance power against odds time.