What is the meaning of satoshis in the context of digital currency?

Lanier AustinOct 28, 2023 · 2 years ago3 answers

Can you explain the significance of satoshis in the world of digital currency? What are they and how do they relate to Bitcoin?

3 answers

Hjort CopelandDec 09, 2024 · 8 months ago
Satoshis are the smallest unit of Bitcoin, named after its creator Satoshi Nakamoto. Each Bitcoin can be divided into 100 million satoshis. This division allows for microtransactions and makes Bitcoin more divisible than traditional currencies. For example, if the price of 1 Bitcoin is $10,000, then 1 satoshi would be worth $0.0001. Satoshis are essential for facilitating small transactions and enabling the use of Bitcoin in everyday purchases.
Do NhanNov 09, 2021 · 4 years ago
Satoshis are like the pennies of Bitcoin. Just as a dollar is made up of 100 pennies, a Bitcoin is made up of 100 million satoshis. This division allows for precise and granular transactions, making Bitcoin suitable for both large and small payments. So, whether you're buying a cup of coffee or a luxury car, satoshis play a crucial role in making digital currency usable in our daily lives.
Imran WattooSep 27, 2022 · 3 years ago
In the context of digital currency, satoshis are the smallest unit of Bitcoin. They are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. Each Bitcoin can be divided into 100 million satoshis, which allows for microtransactions and makes Bitcoin more versatile as a currency. Satoshis are important because they enable the use of Bitcoin for small purchases and help drive adoption of digital currency in various industries.