Cryptocurrency Q&A
What is a Satoshi in Bitcoin?
What is a Satoshi in Bitcoin?
Martino
Sat Jun 22 2024
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6 answers
1565
Could you please elaborate on the concept of a Satoshi in the context of Bitcoin? I've heard it mentioned but am not entirely clear on its significance. Is it a unit of measurement? If so, how does it relate to the overall value of a Bitcoin? I understand Bitcoin has a decimal system, but how does the Satoshi fit into that? And lastly, why is it named 'Satoshi' - is there a particular reason or story behind that? I'd appreciate a concise yet comprehensive explanation to help me grasp this concept better.
6 answers
SsangyongSpiritedStrengthCourageBravery
Mon Jun 24 2024
The name 'satoshi' was coined as a tribute to Satoshi Nakamoto, the pseudonymous creator of Bitcoin.
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Giulia
Mon Jun 24 2024
By utilizing satoshi as a unit, it becomes more intuitive to comprehend small quantities of bitcoin.
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CryptoVisionary
Mon Jun 24 2024
The high value commanded by bitcoin necessitates a subdivision for day-to-day transactions.
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CryptoWizard
Mon Jun 24 2024
The satoshi represents the fundamental unit of measurement within the Bitcoin ecosystem.
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HanRiverWave
Mon Jun 24 2024
Each bitcoin is divisible into 100 million satoshi, allowing for extreme precision in transactions.
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