Understanding Bitcoin unit divisions.

neon23

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Quote from: Crypt1x on February 18, 2016, 09:45:46 AM

Below, a brief summary of Bitcoin Units:

Code:

A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC.
In the future, however, the protocol may be updated to allow further subdivisions, should they be needed.

Further examples of units
•1 BTC = 1,000 mBTC (millibitcoin)
•1 BTC = 1,000,000 μBTC (microbitcoin)
•1 BTC = 100,000,000 Satoshis
•1 mBTC = 100,000 Satoshis
•1 μBTC (microbitcoin) = 100 Satoshis

You only cover a part of existing units. There are also kBTC, hBTC, dBTC and cBTC. A explanation is provided on the following blog article I recently found https://cryptovoyager.wordpress.com/2019/10/19/the-units-in-bitcoin-a-detailed-explanation/

OLIGO

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Thanks!

Sarabz

newbie

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If some of the beginners are looking to find Direct Satoshi conversion to Fiat currency like USD or EURO. I created a small converter which dynamically keeps doing it based on the prevailing price of Bitcoin. I will try to add other micro units of Bitcoin too.

https://sipacoin.com/price/satoshi/usd for USD
https://sipacoin.com/price/satoshi/eur for Euro
https://sipacoin.com/price/satoshi/inr for INR

If you find it useful you can bookmark per your favorite currency.

CryptoGore

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Nice post, good for newbies. I do not understand why some people say it was useless.

As crypt1x says sharing knowledge is always a thing to do, even with redundancy of it.

tommorisonwebdesign

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Bitcoin is a computer, thing, and it's always good to have a good mathematical ability to understand the units. That's my experience. I never needed help understanding the units.

btcltccoins

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Since 1 BTC contains 100000000 Satoshi, is it good or bad to have so many divisions of a single bitcoin.
Huh

capcher

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Quote from: Avirunes on February 19, 2016, 01:05:48 AM

It maybe old metric prefixes but it is still used.

Eh I don't mean "old" as in they're no longer used anymore. I said "plain old", as in "commonly used/seen".

NorrisK

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For those having difficulties with the nomenclature, just think of other ways you use milli and micro in your daily lifes.

Micro may not be as common, but it basically means moving the comma 6 places. --> 1 micro BTC --> 0.000001 BTC

Milli you know from milliliter and millimeter, which basically means 1 thousands of something, or moving the comma 3 places. --> 1 milli BTC = 0.001 BTC

If you are having difficulties with the comma's, you can imagine a number of zeros before and after the 1 and just move the comma.

Herbert2020

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Quote from: Monnt on February 22, 2016, 02:44:31 PM

This is really helpful. I always get mixed up between a ubtc being 0.001 or 0.0001.
...

i have the same problem with divisions too. especially with BITS which OP should add. (1 bit = 100 satoshi) now i have created this little conversion sheet in excel and saved it on my desktop it is easy to make you just put values in one column and it shows you the calculation in the next by multiplying with the code you have set.

DeathAngel

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I don't ever really think about the micro divisions with bitcoin but I guess if one day the price goes to the moon then it will be important to know.

Monnt

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This is really helpful. I always get mixed up between a ubtc being 0.001 or 0.0001.
.

Quote from: Crypt1x on February 22, 2016, 01:13:46 PM

Quote from: aardvark15 on February 18, 2016, 08:28:36 PM

Is it possible to show the division on the post? I don't go to external links for security purposes. Thanks.

Nice idea, i will get a Units description in the OP too

Don't tempt him. He's a YoBit spammer. 200 posts in mere weeks, plus he hasn't responded to people who've responded to him. Coincidence? I think not.

Crypt1x

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Quote from: aardvark15 on February 18, 2016, 08:28:36 PM

Is it possible to show the division on the post? I don't go to external links for security purposes. Thanks.

Nice idea, i will get a Units description in the OP too

Crypt1x

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Quote from: PrimusInterPares on February 18, 2016, 01:27:03 PM

Thanks for sharing this information. However, when someone want to know about the Bitcoin units ones search on Google for "Bitcoin" and "unit" and gets the bitcoin wiki article post you've provided as first search result Wink

You're right but since this forum is the fulcrum of actual Bitcoin community and this thread has been opened in the "Beginners" section i thought that having such link reference here could save some time to users who are searching this informations in the forum.

Sharing knowledge is always something to do, even if it's redundant.
Wink

morantis

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The thing is that this is going to be something that people will need to understand if Bitcoin is ever widely accepted. With the value sitting around $400 per coin, there is a need to express the price of things in the smaller divisions. Imagine seeing a gallon of milk with a price tag of 0.0009 BTC. Whereas something like 9 bits is a lot easier to work with.

Avirunes

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Quote from: capcher on February 18, 2016, 09:34:10 PM

Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

100,000,000 satoshi = 1 BTC
1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.

Not really because still there are many casino and dice sites like Rollin.io,VegasCasino.io,Betcoin.ag (uses the chip after the balance but the value is same like mbtc) and faucet and lottery sites which uses uBTC. It maybe old metric prefixes but it is still used.

LaStOpTi0N

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Quote from: capcher on February 18, 2016, 09:34:10 PM

Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

100,000,000 satoshi = 1 BTC
1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.

Yea BIT or Satoshi is use normally.I saw faucets using mostly satoshi terminology & wallets with Bits because of higher transactions.

capcher

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Is it that complicated of a topic that you need multiple external links to explain?

I think there are just 2 things to know

100,000,000 satoshi = 1 BTC
1,000,000 bit = 1 BTC

"bit" is a commonly used name for uBTC.

The other stuff like mBTC and uBTC/μBTC are just plain old metric prefixes.

155UE

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Quote from: aardvark15 on February 18, 2016, 08:28:36 PM

Is it possible to show the division on the post? I don't go to external links for security purposes. Thanks.

here are the examples for you since you dont want to go to your "untrusted links"

1 BTC = 1,000 mBTC (millibitcoin)
1 BTC = 1,000,000 μBTC (microbitcoin)
1 BTC = 100,000,000 Satoshis
1 mBTC = 100,000 Satoshis
1 mBTC = .001 BTC
1 μBTC (microbitcoin) = 100 Satoshis

LyQaN

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Thanks for sharing i mostly use youmeandbtc.com/bitcoin-converter/convert-btc-mbtc-bits-satoshis-usd/
You can easily calculate btc from this site.

aardvark15

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Is it possible to show the division on the post? I don't go to external links for security purposes. Thanks.

Topic: Understanding Bitcoin unit divisions. (Read 2036 times)