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Crypt1x
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February 18, 2016, 02:45:46 PM
 #1

Understanding Bitcoin unit divisions.


Since i have seen multiple questions and error about BTC, mBTC, uBTC and all the Bitcoin's subunits i will post here some good links where anyone can deeply understand how the Bitcoin unit division works.
It will take just some minutes and you will understand Bitcoin a little bit more Smiley

Please check this useful links to understand better how Bitcoin unit is divided:


https://en.bitcoin.it/wiki/Units


http://youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/

http://bitcoin.stackexchange.com/questions/114/what-is-a-satoshi


Below, a brief summary of Bitcoin Units:

Code:
A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC.
In the future, however, the protocol may be updated to allow further subdivisions, should they be needed.

Further examples of units
•1 BTC = 1,000 mBTC (millibitcoin)
•1 BTC = 1,000,000 μBTC (microbitcoin)
•1 BTC = 100,000,000 Satoshis
•1 mBTC = 100,000 Satoshis
•1 μBTC (microbitcoin) = 100 Satoshis


Hope this helps!

 Smiley

_Crypt1x_



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February 18, 2016, 06:27:03 PM
 #2

Thanks for sharing this information. However, when someone want to know about the Bitcoin units ones search on Google for "Bitcoin" and "unit" and gets the bitcoin wiki article post you've provided as first search result Wink

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February 19, 2016, 01:28:36 AM
 #3

Is it possible to show the division on the post?  I don't go to external links for security purposes.  Thanks.

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February 19, 2016, 02:05:47 AM
 #4

Thanks for sharing i mostly use youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/
You can easily calculate btc from this site.

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February 19, 2016, 02:11:20 AM
 #5

Is it possible to show the division on the post?  I don't go to external links for security purposes.  Thanks.

here are the examples for you since you dont want to go to your "untrusted links" Smiley

1 BTC = 1,000 mBTC (millibitcoin)
1 BTC = 1,000,000 μBTC (microbitcoin)
1 BTC = 100,000,000 Satoshis
1 mBTC = 100,000 Satoshis
1 mBTC = .001 BTC
1 μBTC (microbitcoin) = 100 Satoshis

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February 19, 2016, 02:34:10 AM
 #6

Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

  • 100,000,000 satoshi = 1 BTC
  • 1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.
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February 19, 2016, 05:53:11 AM
 #7

Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

  • 100,000,000 satoshi = 1 BTC
  • 1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.

Yea BIT or Satoshi is use normally.I saw faucets using mostly satoshi terminology & wallets with Bits because of higher transactions.
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February 19, 2016, 06:05:48 AM
 #8

Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

  • 100,000,000 satoshi = 1 BTC
  • 1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.

Not really because still there are many casino and dice sites like Rollin.io,VegasCasino.io,Betcoin.ag (uses the chip after the balance but the value is same like mbtc) and faucet and lottery sites which uses uBTC. It maybe old metric prefixes but it is still used.

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February 19, 2016, 06:10:06 AM
 #9

The thing is that this is going to be something that people will need to understand if Bitcoin is ever widely accepted.  With the value sitting around $400 per coin, there is a need to express the price of things in the smaller divisions.  Imagine seeing a gallon of milk with a price tag of 0.0009 BTC.  Whereas something like 9 bits is a lot easier to work with.
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February 22, 2016, 06:11:40 PM
 #10

Thanks for sharing this information. However, when someone want to know about the Bitcoin units ones search on Google for "Bitcoin" and "unit" and gets the bitcoin wiki article post you've provided as first search result Wink

You're right but since this forum is the fulcrum of actual Bitcoin community and this thread has been opened in the "Beginners" section i thought that having such link reference here could save some time to users who are searching this informations in the forum. Smiley

Sharing knowledge is always something to do, even if it's redundant.
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February 22, 2016, 06:13:46 PM
 #11

Is it possible to show the division on the post?  I don't go to external links for security purposes.  Thanks.

Nice idea, i will get a Units description in the OP too Smiley




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February 22, 2016, 07:44:31 PM
 #12

This is really helpful. I always get mixed up between a ubtc being 0.001 or 0.0001.
.

Is it possible to show the division on the post?  I don't go to external links for security purposes.  Thanks.


Nice idea, i will get a Units description in the OP too Smiley



Don't tempt him. He's a YoBit spammer. 200 posts in mere weeks, plus he hasn't responded to people who've responded to him. Coincidence? I think not.

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February 22, 2016, 08:56:58 PM
 #13

I don't ever really think about the micro divisions with bitcoin but I guess if one day the price goes to the moon then it will be important to know.
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February 23, 2016, 05:18:43 AM
 #14

This is really helpful. I always get mixed up between a ubtc being 0.001 or 0.0001.
...

i have the same problem with divisions too. especially with BITS which OP should add. (1 bit = 100 satoshi) now i have created this little conversion sheet in excel and saved it on my desktop it is easy to make you just put values in one column and it shows you the calculation in the next by multiplying with the code you have set.

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February 23, 2016, 07:40:40 AM
 #15

For those having difficulties with the nomenclature, just think of other ways you use milli and micro in your daily lifes.

Micro may not be as common, but it basically means moving the comma 6 places. --> 1 micro BTC --> 0.000001 BTC

Milli you know from milliliter and millimeter, which basically means 1 thousands of something, or moving the comma 3 places. --> 1 milli BTC = 0.001 BTC

If you are having difficulties with the comma's, you can imagine a number of zeros before and after the 1 and just move the comma.
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February 23, 2016, 11:03:33 AM
 #16

It maybe old metric prefixes but it is still used.

Eh I don't mean "old" as in they're no longer used anymore. I said "plain old", as in "commonly used/seen".
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February 23, 2016, 04:39:21 PM
 #17

Since  1 BTC contains 100000000 Satoshi, is it good or bad to have so many divisions of a single bitcoin.
 Huh
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February 23, 2016, 04:44:55 PM
 #18

Bitcoin is a computer, thing, and it's always good to have a good mathematical ability to understand the units. That's my experience. I never needed help understanding the units.

Signatures? How about learning a skill... I don't care either way. Everybody has to make a living somehow.
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February 24, 2016, 02:03:07 PM
 #19

Nice post, good for newbies. I do not understand why some people say it was useless.

As crypt1x says sharing knowledge is always a thing to do, even with redundancy of it.

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Sarabz
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November 15, 2017, 10:20:28 AM
 #20

If some of the beginners are looking to find Direct Satoshi conversion to Fiat currency like USD or EURO. I created a small converter which dynamically keeps doing it based on the prevailing price of Bitcoin. I will try to add other micro units of Bitcoin too.

https://sipacoin.com/price/satoshi/usd for USD
https://sipacoin.com/price/satoshi/eur  for Euro
https://sipacoin.com/price/satoshi/inr  for INR

If you find it useful you can bookmark per your favorite currency.
OLIGO
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November 15, 2017, 10:37:37 AM
 #21

Thanks! Grin
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