SATOSHI(the smaller units of Bitcoin) and why e dey important.

Hatchy

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The Alliance Of Bitcointalk Translators - ENG>PID

Quote from: Obim34 on October 19, 2023, 11:27:08 AM

Kudos OP... I have learnt something from this your post now, I never new Satoshi was just little fraction of Bitcoin. I have heard about Satoshi enough but never did I find it interesting to learn about, I mostly thought it was used to compare with Bitcoin.
My mind just flipped back to faucets pay and mine bots now I get the full explanation of all this

We thanks @Obim34, I no say many of our newbies for here get many things wey Dem never still understand but them no dey ask and this one no clear. The forum na place wey you go fit gain knowledge for free unlike some places wey you go subscribe monthly or yearly to take learn these things. I happy say you don fit learnt from my post and I hope say other newbies them go fit still learn from am.

Jegileman

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Quote from: Hatchy on October 19, 2023, 04:25:49 AM

Just as naira get Kobo, dollar get cent na same thing with Bitcoin but dem con call am Satoshi. Satoshi na the smaller units wey person fit take address Bitcoin wey dey less than 1 btc. the whole fraction 1 go up, na e Dem dey call Bitcoin. although some people fit still call 0.11111111 bitcoin, but the right name for am na Satoshi. these small fractions of Bitcoin don help many of us Wella to be Bitcoin investors as e for no dey possible to dey start investment with a whole 1 btc (currently $28355.13) as a common person unlike all those big men them.
so to make am easy for every one, bitcoin come dey divided into smaller units. 1 btc dey equals to 100million Satoshi.

E dey very necessary as bitcoin get smaller units wey person fit still own. If it was in d first days of bitcoin, dis Satoshi go mean worthless dan wetin e be now but thank God for d value bitcoin have gained since it was first launched. D name Satoshi till today still mean the name of the bitcoin creator to many people, many people no still know say na anoda smaller unit of bitcoin be dat. Even when you search for online Satoshi, na d bitcoin creator go first pop out until you scroll down or read dipper inside na him you go see say na anoda unit of measuring btc. If satoshi no exist, e go dey hard to count or measure smaller units of BTC until maybe the smallest divisible unit of BTC will be limitless. But nothing bad as e dey now, but make people just know wetin e mean and no confuse am becos for some places if dem wan show you fees na in Satoshi dem go show am, not in BTC. So e dey very good say make we all dey familiar with am and make we know how to calculate am and know d equivalent of it in BTC.

Quote from: Hatchy on October 19, 2023, 04:25:49 AM

centiBitcoin (cBTC): 0.01 BTC
milliBitcoin (mBTC): 0.001 BTC
microBitcoin (uBTC): 0.000001 BTC
Satoshi: 0.00000001 BTC

of all these smaller fractions, na just the Satoshi and the milibitcoin na e dey more often recognized for most wallets. 1 Satoshi (0.00000001 BTC) no carry better weight that wan be say 1 (sat) Satoshi dey equals to $0.000262 currently and dis one na very small value.

I no dey familiar with centiBitcoin and microBitcoin but I don hear and see for dis forum many times milliBitcoin (mBTC) and also Satoshis. E dey very easy for me to know say whenever I see mBTC, na to just divide d value by 1000 as e dey taught for mathematics. So dat one no go hard person to do unlike centi and micro wey person no to dey see or come across sef. If you understand basic mathematics, na still d same division you go do am like d way you go do for milliBTC but as person no too dey conversant with am, d tin no go first come mind like dat and you go dey confuse at first until u come analyze am well come know wetin e really mean. Person like me go first go search am sef online to confirm say Satoshi dey exist in dat type of format sef.

Obim34

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Quote from: Doan9269 on October 19, 2023, 04:50:10 AM

Since almost every currencies has their own smaller unit of currency, then having sats as the smaller unit of bitcoin not something new that we should expect, where we need to concentrate more is on people understanding the value of this unit and the corresponding value it worth respectively both in bitcoin and in USD, many organizations do reward people in sats for doing some minor task for them, this will also help newbies to easily finds many only rewarding platforms that pays in sat for their services and have a taste of how digital currency is and can make transactions in them before using the main bitcoin, most beginners are found in this category because they are learning.

Kudos OP... I have learnt something from this your post now, I never new Satoshi was just little fraction of Bitcoin. I have heard about Satoshi enough but never did I find it interesting to learn about, I mostly thought it was used to compare with Bitcoin.
My mind just flipped back to faucets pay and mine bots now I get the full explanation of all this

Doan9269

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Activity: 812

Merit: 560

Since almost every currencies has their own smaller unit of currency, then having sats as the smaller unit of bitcoin not something new that we should expect, where we need to concentrate more is on people understanding the value of this unit and the corresponding value it worth respectively both in bitcoin and in USD, many organizations do reward people in sats for doing some minor task for them, this will also help newbies to easily finds many only rewarding platforms that pays in sat for their services and have a taste of how digital currency is and can make transactions in them before using the main bitcoin, most beginners are found in this category because they are learning.

Hatchy

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Activity: 336

Merit: 365

The Alliance Of Bitcointalk Translators - ENG>PID

As una don see am for the title, "SATOSHI" wey dem name after the original creator of Bitcoin SATOSHI NAKOMOTO. how many of us really know say 0.00041 na Satoshi, no be Bitcoin them dey call am? I know say our senior members then go know this one as no be new thing to them again.

Just as naira get Kobo, dollar get cent na same thing with Bitcoin but dem con call am Satoshi. Satoshi na the smaller units wey person fit take address Bitcoin wey dey less than 1 btc. the whole fraction 1 go up, na e Dem dey call Bitcoin. although some people fit still call 0.11111111 bitcoin, but the right name for am na Satoshi. these small fractions of Bitcoin don help many of us Wella to be Bitcoin investors as e for no dey possible to dey start investment with a whole 1 btc (currently $28355.13) as a common person unlike all those big men them.
so to make am easy for every one, bitcoin come dey divided into smaller units. 1 btc dey equals to 100million Satoshi. but Satoshi no be the only smaller unit of Bitcoin, as we still get fractions like.

centiBitcoin (cBTC): 0.01 BTC
milliBitcoin (mBTC): 0.001 BTC
microBitcoin (uBTC): 0.000001 BTC
Satoshi: 0.00000001 BTC

of all these smaller fractions, na just the Satoshi and the milibitcoin na e dey more often recognized for most wallets. 1 Satoshi (0.00000001 BTC) no carry better weight that wan be say 1 (sat) Satoshi dey equals to $0.000262 currently and dis one na very small value.

why Satoshi, smaller unit if Bitcoin dey important?

1.as we don first talk am, Satoshi, wey na e be d smaller unit, e supposed get why e dey exist. just take for Instance say you wan buy bread now, and you only get coin for wallet and you wan buy this bread wey sweet die. you no need to stress your self because Bitcoin get smaller unit u fit run your transaction Wella.

2.for many people them, wey still dey fear to invest put for Bitcoin the matter be say Dem they think say if you no invest big money put for Bitcoin then you never start investment. this one no be true. the smaller versions of Bitcoin, don make am dey easy for everyone to invest small small even reach 1 dollar self, some exchange fit run am for you.unlike other investment, you no fit start with small money, but Bitcoin no be like that, e dey run am on a steady, na you come know how much and when you wan take buy.

3.satoshi, na also the original unit, wey Dem take dey calculate Bitcoin for Blockchain.d Blockchain dey designed, to run transaction,show balance and all data for this Satoshi unit. d Blockchain na e dey run the whole conversion matter come display am for us, we no need to stress our self.

4. e still dey very important for d source code we Dem take run Bitcoin, and e dey help specify the total number of btc we dey. as we know say d total amount of Bitcoin wey fit exist na 21million. and since each Bitcoin get 100million Satoshi, that one mean say Bitcoin get total of 21 quadrillion (2,100,000,000,000,000) units. if you dey see tiny rewards or fees for Bitcoin transaction, Dem fit show am for Satoshi, so e dey easier to use for small small tins dem.

well, I hope say I don fit explain give my people Satoshi, and why e dey important for Bitcoin.the Bitcoin technology dey grow very fast, and e no go good make you dey left behind as this one na opportunity for you to take dey among the people we wan dey dance very soon. so buy Bitcoin today make u dey on the safer side.

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understanding-the-smallest-unit-of-bitcoin/
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Topic: SATOSHI(the smaller units of Bitcoin) and why e dey important. (Read 134 times)