does satoshi supported on every bitcoin service

chriswen

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Quote from: KarmaShark on May 08, 2015, 01:53:26 AM

I think the value of satoshi should be 0.00000001 BTC , afterall he is the father of BTC and he deserves better.
OR maybe just remove the name instead and keep it 1 bit or something like that simply.

What do you mean? I thought that's what Satoshi meant.

ObscureBean

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Satoshi is not a different 'format' from Bitcoin, it's just a term generally used to denote really small amounts of BTC for sake of convenience. For example say you have 0.00001000 BTC, instead saying I have 'zero point zero zero zero zero one BTC' you can simply say I have 1000 satoshi (or sats or sat).

EDIT - In writing you should try not to use the term satoshi, sats or sat though and use decimals ending with the letters BTC like 0.00001 BTC instead of 1000 sat. Satoshi is more a spoken word sometimes used in informal writing.

Gultahin

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Just be careful when sending to some services provider as they have a minimum limit of deposits, saying it to be like 0,0001 btc (1bit) if you send 100 sathosi (0,00000100btc) they will not compute it.

chriswen

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I think some people like using the bits unit. And they have the satoshi unit as a two decimal places. A bit nicer for management.

ipbo

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There are 4 standard units of Bitcoin
1 BTC = 1 Bitcoin
1 mBTC = 10^(-3) Bitcoin
1 µBTC = 10^(-6) Bitcoin
1 Satoshi = 10^(-8) Bitcoin

Units of Satoshi
1 Satoshi = 0.00000001
10 Satoshi = 0.00000010
100 Satoshi = 0.00000100
1,000 Satoshi = 0.00001000
10,000 Satoshi = 0.00010000
100,000 Satoshi = 0.00100000
1,000,000 Satoshi = 0.01000000
10,000,000 Satoshi = 0.10000000
100,000,000 Satoshi = 1.00000000

virtualx

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Quote from: jerrykate on May 07, 2015, 08:27:47 AM

if i send funds in satoshi format can every bitcoin service receive it and convert it to bitcoin currency

like blockchain uses satoshi . if i send to bitpay client's address . will he/she receive in bitcoin currency

Yes, satoshi is the main unit for the bitcoin protocol. BTC, uBTC, mBTC only exist for the users to make usage of bitcoin more user friendly. The system works with unspent transaction outputs which are in the form of satoshis.

A transaction (send funds) is a transfer of Bitcoin value that is broadcast to the network and collected into blocks. Transactions are not encrypted, so it is possible to browse and view every transaction ever collected into a block. All transactions are visible in the block chain. A block chain browser is a site where every transaction included within the block chain can be viewed in human-readable terms. (blockchain.info as example)

Open a random raw transaction to see the format: https://blockchain.info/rawtx/4146588689884c552e65d37869cc45a010a93c3e84d8c182c8193eb31d7d2f62
Amounts are written as 37066800 and 17587846. These are in satoshi, the smallest unit in the bitcoin network.

KarmaShark

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I think the value of satoshi should be 0.00000001 BTC , afterall he is the father of BTC and he deserves better.
OR maybe just remove the name instead and keep it 1 bit or something like that simply.

Amph

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sometimes they call those bits, just to let you know, so you won't get confused, but they are still worth the same value 1/100M of btc

oblivi

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Quote from: Zeroxal on May 07, 2015, 04:14:43 PM

1 Satoshi = 0.00000001 ฿
It is literlly worth nothing. You just send it as a normal transaction, however the transaction fees is already 10 000 satoshis.
Its named after the bitcoin founder Nakamoto Satoshi

This. And don't forget to leave the fee at default, when I told about this to newbies they said "cool, i'll just use 1 satoshi fee lol", but this can be counterbeneficial because the transaction can be stuck for ages until it gets confirmed.

Zeroxal

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1 Satoshi = 0.00000001 ฿
It is literlly worth nothing. You just send it as a normal transaction, however the transaction fees is already 10 000 satoshis.
Its named after the bitcoin founder Nakamoto Satoshi

jerrykate

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Thanks!

Jeremycoin

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Quote from: jerrykate on May 07, 2015, 08:52:00 AM

Thx,
so, i dont have to worry its the same, if i send funds in satoshi, others will receive in btc currency

Yeah, the reciever will always recieve in BTC. Because satoshi is not a currency, the currency is BTC which is 100 million satoshi for 1 BTC.

jerrykate

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Thx,
so, i dont have to worry its the same, if i send funds in satoshi, others will receive in btc currency

bitllionaire

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Satoshi is just an unit
It's like if I say cent, I pay one cent which is 0.01$, it's the same but you say it other way

jerrykate

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if i send funds in satoshi format can every bitcoin service receive it and convert it to bitcoin currency

like blockchain uses satoshi . if i send to bitpay client's address . will he/she receive in bitcoin currency

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