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Author Topic: dividing one bitcoin into a million pieces  (Read 2946 times)
notlist3d
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September 17, 2014, 06:09:37 PM
 #21

Divide the bitcoin into one hundred pieces and the will have some value for your lucky friends.

Most likely they wanted a million to do spam.  I don't see them paying a hundredth.
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tspacepilot
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September 17, 2014, 06:17:22 PM
 #22

Short answer: You can't. Long answer: You can, but it would be astonishingly stupid to do so. Sending to a million different outputs would require 34 metric megabytes of data, which currently requires a transaction fee of BTC3.4. It is unclear what you hope to accomplish by this in any case, as one millionth of a bitcoin is currently worth less than one twentieth of a cent, and would cost a hundred times more in transaction fees to send than it is worth.

Bitcoin is neither designed nor suitable for microtransactions. If your application requires microtransactions, it requires something other than Bitcoin.

It's basically this. I didn't run the numbers myself, but it sounds reasonable. Miner may, at times, include dust transactions, but by including an unreasonably high amount of them, they increase the chances of their block being orphaned, and thus risk their block reward. And a million pieces seems a bit much, doesn't it?

Basically these guys are talking about the fact that the bitcoin network doesn't keep track of how much btc is in an address, it deals with inputs and outputs.  If you have an input of 1btc and you split it up into 1million outputs of 10 satoshis each, as everyone is pointing out:

1) the transaction fee would be huge to try to get such a transaction included in a block
2) your "friends" won't really be able to spend 10 satoshis (it's just too small to be worth anything at the present prices)

Checkout the bitcoin wiki on transactions and transaction fees.

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September 17, 2014, 06:52:57 PM
 #23

a million friends?

damn, you must have a shit load of time.  Cheesy clicking friend request all day lol.
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September 18, 2014, 01:32:49 AM
 #24

Surely I'm your friend too, along with everyone else on the planet, so act quick and split that bitcoin 7 billion ways  Cheesy

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September 18, 2014, 01:42:10 AM
 #25

Surely I'm your friend too, along with everyone else on the planet, so act quick and split that bitcoin 7 billion ways  Cheesy

you mind as well go on the street and pick up a penny lol.  Cheesy
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September 18, 2014, 02:25:20 AM
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Surely I'm your friend too, along with everyone else on the planet, so act quick and split that bitcoin 7 billion ways  Cheesy

you mind as well go on the street and pick up a penny lol.  Cheesy

A better idea is find a store with those give a penny/take a penny trays next to the register  Cool

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September 18, 2014, 06:49:10 AM
 #27

I think he want to send small amounts of bitcoins to loads of people to advertize his bizness. ^smile^

I have been recieving transactions with 1 satoshi in my wallet and a note at the top, that advertize some site.

The transactions are not going through for some reason.

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