How are satoshis defined in the world of digital currencies?

3 answers

• Mar 18, 2022 · 3 years ago
  Satoshis are the smallest unit of Bitcoin, named after its creator Satoshi Nakamoto. Each Bitcoin is divisible into 100 million satoshis. They are used to facilitate microtransactions and provide a way to measure the value of smaller amounts of Bitcoin. For example, if you want to send someone a very small amount of Bitcoin, you can use satoshis instead of whole Bitcoins. This allows for greater flexibility and usability of Bitcoin as a currency.
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• Mar 18, 2022 · 3 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. They are used to represent fractions of a Bitcoin and enable transactions with smaller amounts. So, if you want to buy something that costs a fraction of a Bitcoin, you would use satoshis to make the payment. It's a way to break down the value of Bitcoin into smaller, more manageable units.
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• Mar 18, 2022 · 3 years ago
  Satoshis are the smallest denomination of Bitcoin. They are named after Satoshi Nakamoto, the mysterious creator of Bitcoin. Each Bitcoin is divisible into 100 million satoshis. This allows for precise and granular transactions, even with very small amounts of Bitcoin. For example, if you want to tip someone online or make a microtransaction, you can use satoshis. It's a way to make Bitcoin more accessible and practical for everyday use.
  441111