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1  Economy / Micro Earnings / Project SATO - The Ultimate Solution for BTC Micropayments on: July 22, 2024, 10:40:29 PM
Greetings community,

This is a duplicate post from general bitcoin discussion, but it seems very relevant for the micropayments board.

I’m one of the early Bitcoin entrepreneurs and have posted my first project announcements on this forum back in 2012. I’ve been an active participant of the community growth process, taking Bitcoin from nothing to where it is today. As someone who introduces new people to crypto as a daily full time activity, I can clearly see a few small things that act as major barriers for Bitcoin adoption and can be improved.

The main one is the need to deal with super small fractional numbers. First-time buyers get pretty disappointed when they learn that they can’t buy a whole Bitcoin. And 0.015 of something does not feel like a serious investment. It is also always a challenge for wallet developers to make an interface that is user-friendly and displays ultra small fractional numbers at the same time. With Bitcoin continuing its climb, this issue will only get worse.

Today, I am excited to introduce a project designed to solve this, and a number of other adoption issues as a side effect.

Meet SATO: the smallest unit of Bitcoin tokenized as an ERC-20 asset.

What is Satoshi (SATO)

  • SATO token represent 1/100,000,000 of a Bitcoin, also known as Satoshi or sat, following Nakamoto's suggestion for Bitcoin fractionalization
  • Improves Bitcoin accessibility by offering whole-number ownership and human-readable amounts
  • Enhances user experience by eliminating the need to deal with multiple decimal places
  • Reduces psychological barriers for new users entering the cryptocurrency space

Bitcointalk History Is The Inspiration

On this very forum Satoshi himself recognized early on that further development of Bitcoin may require it to become more divisible:

Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. But don’t worry, there are another 6 decimal places that aren’t shown, for a total of 8 decimal places internally. It shows 1.00 but internally it’s 1.00000000. If there’s massive deflation in the future, the software could show more decimal places.

Shortly after, another user named “ribuck”, suggested the idea of commemorating Satoshi by using his name for the small fractions of Bitcoin currency. Years later the community embraced the idea and it became a de-facto standard name for 1/100000000, the smallest fraction of a Bitcoin.

Benefits

Human-readable Numbers
The need to count zeroes and deal with micro amounts introduces a lot of friction to Bitcoin's useability. New users perceive assets as more valuable if they own whole numbers. Receiving 1,362 Satoshis (SATO) is a much nicer first-timer experience than 0.00001362 BTC.

No Rounding Losses
Significant amounts of Bitcoin are lost by users due to inadequate rounding of balances by wallet and exchange services. 0.00014 BTC often becomes 0.0001 and 0.00004 goes to the exchange balance. Transitioning to whole numbers would help avoid such mistakes.

Small Balance Abandonment
It is also pretty common among Bitcoin users to abandon or neglect wallets with perceptually insignificant balances, such as 0.0023 BTC, while the dollar equivalent of such balance can often buy you a pair of new shoes. 230,000 SATO equivalent is much less likely to be abandoned.

Lower Transaction fees
EVM-based blockchains enable lower transaction fees compared to the original Bitcoin blockchain, particularly for mass distribution use cases, such as airdrops and reward claims. A ~$0.01 per transfer fee unlocks day-to-day retail and p2p use cases.

DeFi Ecosystem
ERC-20 standard brings Bitcoin to the whole spectrum of DeFi ecosystem services. Satoshi (SATO) can be bridged to any other blockchain using existing ERC-20 bridges.

Recognized Unit of Account
The “Satoshi” is already widely recognized by the crypto community as a unit of account, meaning 0.00000001 BTC. Now you can use it in your wallets.

Security and Transparency

Each SATO is backed by 1/100,000,000 of a Bitcoin (using WBTC). The wrapping and unwrapping process is facilitated by a simple smart contract, ensuring transparency and minimizing security risks. Anyone can audit the reserves on-chain via blockchain explorer.

The Satoshi (SATO) token is live today on major blockchains including Ethereum, Optimism, Arbitrum One, and Polygon.

Try it out: https://getsatoshi.org/

Litepaper

For an in-depth understanding of SATO, please refer to our Litepaper.

Join the Community

2  Alternate cryptocurrencies / Tokens (Altcoins) / Project SATO - Fractional Version of Bitcoin (ERC-20) on: July 22, 2024, 10:36:21 PM
Greetings community,

I’m one of the early Bitcoin entrepreneurs and have posted my first project announcements on this forum back in 2012. I’ve been an active participant of the community growth process, taking Bitcoin from nothing to where it is today. As someone who introduces new people to crypto as a daily full time activity, I can clearly see a few small things that act as major barriers for Bitcoin adoption and can be improved.

The main one is the need to deal with super small fractional numbers. First-time buyers get pretty disappointed when they learn that they can’t buy a whole Bitcoin. And 0.015 of something does not feel like a serious investment. It is also always a challenge for wallet developers to make an interface that is user-friendly and displays ultra small fractional numbers at the same time. With Bitcoin continuing its climb, this issue will only get worse.

Today, I am excited to introduce a project designed to solve this, and a number of other adoption issues as a side effect.

Meet SATO: the smallest unit of Bitcoin tokenized as an ERC-20 asset.

What is Satoshi (SATO)

  • SATO token represent 1/100,000,000 of a Bitcoin, also known as Satoshi or sat, following Nakamoto's suggestion for Bitcoin fractionalization
  • Improves Bitcoin accessibility by offering whole-number ownership and human-readable amounts
  • Enhances user experience by eliminating the need to deal with multiple decimal places
  • Reduces psychological barriers for new users entering the cryptocurrency space

Bitcointalk History Is The Inspiration

On this very forum Satoshi himself recognized early on that further development of Bitcoin may require it to become more divisible:

Eventually at most only 21 million coins for 6.8 billion people in the world if it really gets huge. But don’t worry, there are another 6 decimal places that aren’t shown, for a total of 8 decimal places internally. It shows 1.00 but internally it’s 1.00000000. If there’s massive deflation in the future, the software could show more decimal places.

Shortly after, another user named “ribuck”, suggested the idea of commemorating Satoshi by using his name for the small fractions of Bitcoin currency. Years later the community embraced the idea and it became a de-facto standard name for 1/100000000, the smallest fraction of a Bitcoin.

Benefits

Human-readable Numbers
The need to count zeroes and deal with micro amounts introduces a lot of friction to Bitcoin's useability. New users perceive assets as more valuable if they own whole numbers. Receiving 1,362 Satoshis (SATO) is a much nicer first-timer experience than 0.00001362 BTC.

No Rounding Losses
Significant amounts of Bitcoin are lost by users due to inadequate rounding of balances by wallet and exchange services. 0.00014 BTC often becomes 0.0001 and 0.00004 goes to the exchange balance. Transitioning to whole numbers would help avoid such mistakes.

Small Balance Abandonment
It is also pretty common among Bitcoin users to abandon or neglect wallets with perceptually insignificant balances, such as 0.0023 BTC, while the dollar equivalent of such balance can often buy you a pair of new shoes. 230,000 SATO equivalent is much less likely to be abandoned.

Lower Transaction fees
EVM-based blockchains enable lower transaction fees compared to the original Bitcoin blockchain, particularly for mass distribution use cases, such as airdrops and reward claims. A ~$0.01 per transfer fee unlocks day-to-day retail and p2p use cases.

DeFi Ecosystem
ERC-20 standard brings Bitcoin to the whole spectrum of DeFi ecosystem services. Satoshi (SATO) can be bridged to any other blockchain using existing ERC-20 bridges.

Recognized Unit of Account
The “Satoshi” is already widely recognized by the crypto community as a unit of account, meaning 0.00000001 BTC. Now you can use it in your wallets.

Security and Transparency

Each SATO is backed by 1/100,000,000 of a Bitcoin (using WBTC). The wrapping and unwrapping process is facilitated by a simple smart contract, ensuring transparency and minimizing security risks. Anyone can audit the reserves on-chain via blockchain explorer.

The Satoshi (SATO) token is live today on major blockchains including Ethereum, Optimism, Arbitrum One, and Polygon.

Try it out: https://getsatoshi.org/

Litepaper

For an in-depth understanding of SATO, please refer to our Litepaper.

Join the Community

3  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN] PROPY - Global Property Store with Decentralized Title Registry on: June 23, 2017, 09:10:37 PM





























4  Alternate cryptocurrencies / Marketplace (Altcoins) / Ambisafe Announces Orderbook — an Innovative Trading Platform for Ethereum-based on: June 23, 2017, 03:56:10 AM


Ambisafe, an Ethereum asset management platform has just announced its newest development — Orderbook, a trading platform for Ethereum-based ICO tokens.

Ambisafe has helped to launch successful ICOs for several blockchain companies, particularly Polybius, TaaS, and Chronobank. The Polybius ICO has so far raised over $21.2 million dollars, whilst the TaaS ICO has raised over $7.5 million dollars with over 3,900 investors.

Orderbook, a new venture organized by the team behind Ambisafe, is a trading platform for Ethereum-based ICO tokens. Through this trading platform, ICO participants can take advantage of cutting edge security, in which all critical operations are executed via Ethereum smart contracts, and all assets will be held “on-chain”.

All asset information will be available on the platform including dividend history, trading protocols, transaction volumes and analytics from trusted cryptocurrency sources.

Furthermore, The Orderbook exchange platform will streamline operations and ensure transparency for both ICO founders and traders. Since the platform is implemented as a set of smart contracts, all trade history will be available for audit to ensure that there are no fraudulent manipulations. The unique trading interface will contain additional information about companies and provide the ability to receive dividends directly for traders, thus creating an efficient, transparent and versatile environment for the cryptocurrency industry.

To learn more about Orderbook:
● Website: https://orderbook.io/
● Facebook: https://www.facebook.com/orderbookio
● Twitter: https://twitter.com/orderbook_io
● Telegram: https://t.me/joinchat/AAAAAA2i5AUMn3RpatYG5Q

Please note that Orderbook will be launched as alpha version which may include minor bugs and non-critical issues.

Media Contact: media@orderbook.io
5  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][ICO] COMPCOIN - AI Token For Financial Trading - JUNE 14 on: June 13, 2017, 03:45:24 PM


















6  Local / Альтернативные криптовалюты / [ANN][ICO] OROCRYPT - Цифровые Драгоценные Металлы on: May 30, 2017, 10:31:26 PM





























7  Alternate cryptocurrencies / Announcements (Altcoins) / [ANN][ICO] OROCRYPT – Digitized Precious Metals On The Ethereum Blockchain on: May 19, 2017, 09:43:46 PM



































8  Economy / Services / Looking for VPS in China on: March 14, 2017, 10:46:57 PM
Hello

We are looking for VPS in China to host one or more ICO websites for Chinese audience.

western internet is more not working than working from within the great Chinese firewall and we are looking to solve this problem by hosting a website mirror in China.

Obviously we don't have time for company registration according to official procedure.

Please contact me via telegram or skype if you can help with this:
http://telegram.me/nixoid
skype: andrew.nixoid

Cheers
9  Bitcoin / Project Development / Looking for a co-founder with solid programming skills for cool bitcoin 2.0 proj on: June 13, 2015, 07:07:14 PM
Greetings.

I'm looking for an experienced software engineer to join one of the most interesting cryptocurrency startups based in California. We're developing an enterprise-grade cryptocurrency wallet software for bitcoin 2.0 businesses.

Required skillset is (Ruby [on Rails] or Java) for web. Preferably both.

You can read more details about the team and product here: http://www.ambisafe.co/team.html

This is a second time i'm hiring at the bitcointalk. The guy that i've hired previous time went through a lot of adventures and now is the CEO of that company:
(2013) https://bitcointalk.org/index.php?topic=223450 >>> ff >>> (2015) https://lu.linkedin.com/pub/francesco-simonetti/77/366/380/en

We are doing some cool stuff in this industry since 2008 and this is not another shitcoin or me-too exchange. You'll learn more during the interview.

This is not a part-time job and no salary is offered at the moment (this is why it's called a "co-founder"). You will be compensated with a fair amount of equity upon completion of milestones.

Please send your  CV / LinkedIn / Angel.co profile to careers@ambisafe.co

Best Regards,
Andrey
10  Local / Новости / BTC-Dealer.com: продаем биткоины за кредитки (через liqpay) on: July 16, 2013, 02:15:19 PM
Всем привет.

Позвольте представить вашему вниманию BTC-Dealer.com - fixed-rate обменник.

Мы экспериментируем с продажей биткоинов довольно давно(https://bitcointalk.org/index.php?topic=206274) и сейчас запустили возможность покупать их при помощи банковских карт (visa, mastercard etc).

Оплата осуществляется через LiqPay. В данный момент рабоает только для карт из стран СНГ.

Курс завышен в связи с высокими рисками.

Пробуйте.
11  Bitcoin / Project Development / Startup is looking for marketing person (part-time) on: June 02, 2013, 10:32:48 AM
Hi there.

We are small bitcoin-oriented startup and we are looking for somebody who can handle marketing tasks.

Our websites are:
http://bitmerch.com/ - merchant solution, launched in October 2012.
http://btc-dealer.com/ - minimalistic exchange, launched a month ago.

We have several nice features in production pipeline.

There are currently 4 of us, we are based in Ukraine, working part-time and don’t have funding yet. Yes, it means that we can’t offer salary yet.

Until we’ll get funding and move to Silicon Valley, we need a representative in english-speaking world. 

Responsibilities:
 - copywriting
 - community representative (you should be active member of this forum)
 - monitoring of trends
 - advertising at specialized websites and communities


Requirements:
 - native english speaker with perfect grammar
 - active forum member
 - active bitcoin user
 - eager to learn something new and improve own skills
 - ready to take responsibility for his part of business development
 - ability to work at least 5 hours per week

Will be a plus:
 - own live blog
 - marketing and sales experience
 - team management skills
 - experience in setting up business processes from scratch


What we offer:
 - unique experience of participation in early-stage startup
 - equity
 - salary, as soon as we’ll get funding

This is part time work and you can work as much as you wish.

Feel free to ask any questions here and send links to your profile & CV to: jobs@bitutils.com
12  Economy / Service Announcements / [ANN] Yet another simple, fixed-rate bitcoin exchange: btc-dealer.com on: May 15, 2013, 04:41:37 PM
Hi all.

I'm proud to announce one more bitcoin exchange: BTC-Dealer.com.

The goal of the project is to provide ability to buy bitcoin as fast as possible.
Just specify amount and destination address.


Currently supported payment methods are:

OKPAY (USD)
cashU (USD)
Cash4WM (USD, RUB)
Przelewy24 (PLN)

We currently have $100 USD limit for single operation, but it will be increased soon.

13  Bitcoin / Project Development / [ANNOUNCE] BitMerch Merchant Solution on: October 22, 2012, 12:24:41 PM
Fresh improvements has arrived to BitMerch
http://bitmerch.com

We have rewritten transaction and experimenting now with free transactions!
  • Minimal fee decreased to 0.0002 BTC
  • The only fees you pay are the Bitcoin protocol fees.
  • BitMerch is free of charge.

The BitMerch Bitcoin Payment Gateway API is designed for merchants that need full control over their customers’ shopping and checkout experience. An eCommerce site can make use of this API to transmit invoice information to BitMerch from their back-end server, and receive server notifications when the customer has completed payment and the invoice total has been credited to the merchant account.

Here is an articles in our blog that can help you:
http://blog.bitmerch.com/2013/10/how-to-accept-bitcoin-donation.html

If you need to accept regular payments rather than donation you should just set "Button type" as "Order" and set your product price.
The rest of steps are same as described in the article.

Best Regards,
BitMerch team
http://blog.bitmerch.com/
14  Bitcoin / Development & Technical Discussion / Technical clarifications on: June 10, 2010, 08:38:13 PM
Hi people. I'm interested in decentralized currency and going to either participate in development of this one or develop my own version. Before making a decision i want to clarify  few technical aspects, which is not clear from documentation. Partially this is just because english is not my native language, but anyway Smiley.

0) Is it necessary to run a node if i want to have a wallet? Is it necessarily attached to some exact node or i can keep my wallet on flash drive for example and use it with any node? Where and in which form my account balance is stored?
1) Do i need to download whole network transactions log to be able to validate received coins?
2) How user protected from potential situation when some node is hacked(or modified) and using his id (public key) to send money from his account? It looks possible when everything is sychronyzed between everybody.
3) Which data exactly passed between 2 nodes during transaction? (or just show me place in source code where to look)
4) Can somebody please write more details about transaction fee: why is it needed, how and in which cases it's used and so on.
5) Is there any any plans on decentralizing node list (i have figured out from irc that bitcoin is currently not really decentralized, because nodes getting in touch by joining irc channel on freenode).
6) Do i correctly understand that after some point in time nobody will have ability to generate new coins? we'll just use fixed amount of existing ones.

Thanks for you answers.
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