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Author Topic: Why does bitcoin have only one denomination?  (Read 94 times)
blueflag2018
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June 11, 2018, 04:58:05 AM
 #1

Why does bitcoin have only one denomination? Is that appropriate or inappropriate?
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daniel1476
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June 11, 2018, 12:48:48 PM
 #2

Maybe this is the imperfections. I guess it will gradually improve.
MicaleFalcon
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June 13, 2018, 07:01:05 PM
 #3

From my perspective i think it is a demerit. But I’m sure it will improve. So don’t panic. Invest on bitcoin. Because still now it is the best crypto currency in the world.
farhiamunni
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June 13, 2018, 07:01:53 PM
 #4

I think there are total 10 denominations of bitcoin. These are Satoshi, Microbit, Millibit, Centibit, Decibit , Bitcoin and some more also. Could you please clarify a bit more??2
Dukjila
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June 13, 2018, 07:09:36 PM
 #5

Why does bitcoin have only one denomination? Is that appropriate or inappropriate?
Bitcoin has more than one advantage, among them: capitalization in the cryptocurrency market is about 40%, the very first currency in which investors believed, you can buy any currency for Bitcoin, this is the only currency that has a chance to get legalization at the level of the country's government.
aoluain
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June 13, 2018, 07:28:56 PM
 #6

I suppose you mean its denomination of "satoshi" but it has arguably a
few denominations but the following being the most popular:

Bitcoin – BTC – (1 full Bitcoin)
MilliBitcoin – mBTC – (1 thousandth of a BTC) – BTC 0.001
MicroBitcoin – uBTC – (1 millionth of a BTC) – BTC0.000001
Satoshi – 0.00000001


Hellokitty09
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June 13, 2018, 08:23:27 PM
 #7

Why does bitcoin have only one denomination? Is that appropriate or inappropriate?

Of course, the market is still depending on bitcoin's resistance and it's community adoptions. Bitcoin's domination against others coins would still remained until the end, knowing that bitcoin is bringing crypto into wilderness. Not to mention it's historical market achievements that really shows how it works until today.
ABMARK
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June 13, 2018, 09:15:13 PM
 #8

This is really a problem and I think this is not fair. This problem needs to be solved.
blockman
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June 13, 2018, 09:21:56 PM
 #9

As given by aoluian, it was generalized to call every fractions of bitcoin as bitcoin.

So if there's decimal points, it's easy to call and tag it with 'bitcoin' not as satoshi's. It's easy to determine the amount that way of what you are sending or receiving from payments.

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THATBTC
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June 13, 2018, 09:26:27 PM
 #10

I think there are total 10 denominations of bitcoin. These are Satoshi, Microbit, Millibit, Centibit, Decibit , Bitcoin and some more also. Could you please clarify a bit more??2

Yeep, That's true, can be more specific?
btw what does matter?
Chicksteen
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June 13, 2018, 10:46:53 PM
 #11

Why does bitcoin have only one denomination? Is that appropriate or inappropriate?

Yes of course no one would replace bitcoin.Its really dominant for all different ways which make myself so proud of even if many crypto coins now that exist but only bitcoin remains on the top list and you can see that in coinmarketcap list.Its very perspective that in the years past by we can conclude to ourself that crypto coins especially bitcoin will never been fade.
hadveach
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June 13, 2018, 10:59:09 PM
 #12

yes, it is very clear, the purpose is to measure the value of each BTC we get and then we calculate it with a bitcoin calculator.

so, the denomination of bitcoin is very important in the crypto world. and we can not judge bitcoin without denominations.

mc.craigsvictor
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June 14, 2018, 06:01:40 PM
 #13

Basically BTC is the one of the best crypto currency in the world based on this have good future value in the market also the price of btc is increasing in this month based on this many investors are like to invest their money here yes I agree with your matter I guess it should improve.
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June 14, 2018, 09:57:17 PM
 #14

Quote from: google dictionary
de·nom·i·na·tion
2. the face value of a banknote, coin, or postage stamp.
Denomination in a currency means the amount set on coins, banknotes, gift cards and etc
bitcoin in form of digital/crypto currency doesn't have standard preset denominations

I think there are total 10 denominations of bitcoin. These are Satoshi, Microbit, Millibit, Centibit, Decibit , Bitcoin and some more also. Could you please clarify a bit more??2
Bitcoin – BTC – (1 full Bitcoin)
MilliBitcoin – mBTC – (1 thousandth of a BTC) – BTC 0.001
MicroBitcoin – uBTC – (1 millionth of a BTC) – BTC0.000001
Satoshi – 0.00000001
those are called subunits, fraction of the main unit (whole bitcoin)
and denomination is a number in front of the unit
as for fiat from dollar ($) to cents (¢),
in Bitcoin from bitcoin (BTC) to milibitcoin (mBTC) to microbitcoin (uBTC) to satoshi
cmiiw, but that's how I perceive denominations and units in currency

Khimmy28
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June 15, 2018, 09:09:40 AM
 #15

Why does bitcoin have only one denomination? Is that appropriate or inappropriate?
I would want you to tell me the one denomination that Bitcoin has, that way I will understand you better.
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