RELATION BETWEEN SATOSHI AND BITCOIN

Definition of 'Satoshi'

In this world we are using some kind of national currency like INR, USD, GBP, or EUR.

Some national currencies (like USD) have a “cent”, which is 1/100 part of the currency.Just like that in digital currency satoshi is the smallest unit of bitcoin , Satoshi is named after Satoshi Nakamoto, the creator of the protocol used in block chains and the bitcoin cryptocurrency.

The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain

A unit of Satoshi is equal to 0.00000001 bitcoin.

Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin.

The satoshi unit is named after Satoshi Nakamoto, published a paper in 2008 that jump started the development of the bitcoin cryptocurrency. The paper, “Bitcoin: A Peer-to-Peer Electronic Cash System”, described the use of a peer-to-peer network as a solution to the problem of double-spending. The problem – that a digital currency or token can used in more than one transaction – is not found in physical currencies, as a physical bill or coin can, by its nature, only exist in one place at a single time. Since a digital currency does not exist in the physical space, using it in a transaction does not remove it from someone’s possession.

VALUE OF SATOSHI

1 Satoshi = 0.00000001 ฿
10 Satoshi = 0.00000010 ฿
100 Satoshi = 0.00000100฿ = 1 Bit / μBTC (you-bit)
1,000 Satoshi = 0.00001000 ฿
10,000 Satoshi = 0.00010000 ฿
100,000 Satoshi = 0.00100000 ฿ = 1 mBTC (em-bit)
1,000,000 Satoshi = 0.01000000 ฿ = 1 cBTC (bitcent)
10,000,000 Satoshi = 0.10000000 ฿
100,000,000 Satoshi = 1.00000000 ฿

Conversion of Satoshi to USD

If you ever used BTC, then you will come to know that smallest unit i.e. Satoshi is used most for regular exchange.As all the market value are used to measure in the dollar and we have to pay in the form of Satoshi then it is must to convert Satoshi to USD or vice versa.All the calculation need mathematical brain, therefore we should use this tool for avoiding the mistake.

Comments

Bitcoin a 'dangerous speculative bubble ,is it?

Mo n e y is a m a tt er o f f a ith, Bits of paper and computer bytes change hands billions of times a day as a measure of value because we trust the promise that they represent .in today's era of fiat money ,those promises rest ultimately on a guarantee by governments that they are valuable . that guarantee , as we have seen , is being questioned as the willingness of governments to live up to the promises of fiat currencies is called into question by the deterioration in public finances We often discuss the ways that new technologies and techniques are being used to improve the digital scenario consecutively To t r e at the debate about the f ut u re of mo ne y as a battle between econo m i c truths is to mi s und e r stand the nature of money itself. ...

Will it be possible that if Blockchain Technology can remould Global Payments System?

Payments are synonymous with a transaction that is guaranteed by a central authority which can be a bank, a payment wallet or an escrow service. Keeping the chronological timeline under consideration blockchain happens to be at the helm of technological advancement in the financial domain. A block is the ‘current’ part of a blockchain, which records some or all of the recent transactions. Once completed, a block goes into the blockchain as a permanent database. Each time a block gets completed, a new one is generated. “Blockchain technology continues to redefine not only how the exchange sector operates, but the global financial economy as a whole.” The core value of a blockchain is that it enables a database to be directly shared without a central administrator. Rather than having some centralized application logic, blockchain transactions have their own proof of validity and authorization to enforce the constraints. Hence, with the blockchain acting as a consensus ...

IMPACT OF BITCOIN IN INDIA

Crypto currency exchange operators remain untaxed of RBI warning that beware of Bitcoin " if India had to ban virtual currencies they would have done by now. in last 3 years, the RBI 's statement has been the same: they are uncomfortable with it and people should invest at their own risk . But tell me who is at risk everyone who has invested in it are making money and richer now.crypto currency is reality of the power of digital currencies which fast gaining popularity in India & world wide. It is now almost a decade since the first crypto currency, BITCOIN was developed in 2008 by Satoshi Nakamoto, but still, it is believed that we are in the nascent stages of crypto currency and block chain technology. It’s either gifted as an economic saviour of mankind or a complete annihilator of fiat currency. so visit the following links for more expert opinion of bitcoin. In the last couple of years there has been significant growth in the trading...

ETHXPAY

Search This Blog