Cryptocurrency Q&A
What are bitcoin satoshis (SATs)?
What are bitcoin satoshis (SATs)?
KatanaSharpness
Wed Jul 10 2024
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7 answers
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Could you please elaborate on the concept of bitcoin satoshis, also known as SATs? I'm curious to understand their significance in the cryptocurrency world. Are they a subdivision of the bitcoin unit, or do they serve a different purpose? Could you provide a brief explanation of their origin and how they are used? Furthermore, how do SATs impact the value of bitcoin transactions and the overall cryptocurrency market? Your insights would be greatly appreciated.
7 answers
MysticGalaxy
Fri Jul 12 2024
Their minuteness allows for precise calculations and the division of bitcoins into smaller denominations, making them suitable for microtransactions.
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GinsengBoostPowerBoost
Fri Jul 12 2024
These micro-units are named in honor of the pseudonymous founder of Bitcoin, Satoshi Nakamoto.
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Nicola
Fri Jul 12 2024
A single satoshi equates to a mere one hundred millionth of a bitcoin, or 0.00000001 BTC.
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CryptoElite
Fri Jul 12 2024
Despite their tiny value, satoshis play a crucial role in facilitating transactions and enabling the use of Bitcoin for day-to-day payments.
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charlotte_wilson_coder
Fri Jul 12 2024
Bitcoin satoshis, colloquially known as "sats," are the fundamental monetary building blocks of the digital currency Bitcoin (BTC).
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