In this post, we’ll tell you what a satoshi is, and its equivalence to bitcoin.
Satoshis are another unit of measurement for splitting a bitcoin. The equivalence is 100,000,000 = 1 bitcoin.
Satoshis are generally used by online games to reward users who download applications.
The name is associated with the possible creator of bitcoin Satoshi Nakamoto.
A Satoshi is the smallest unit into which a Bitcoin can be divided, and is expressed as 0.00000001.
Another widely used measure is the BIT, where 100 satoshis are equivalent to 1 BIT, and is represented by 0.00000100.
Some exchanges use the mBTC measure, which is equal to 100,000 Satoshis, and is expressed as 0.00100000.
Miscellaneous facts
The origin of the name of bitcoin’s smallest unit dates back to the creation of this crypto-currency, more precisely to November 15, 2010, when in the BitcoinTalk forum, user Ribuck proposed “satoshi” as the name of the smallest unit into which bitcoin could be divided at the time, which was equivalent to 0.01 BTC, in honor of the currency’s creator, the great Satoshi Nakamoto.
Although Ribuck’s proposal wasn’t taken up at the time (mainly because it wasn’t the thread’s topic of discussion), three months later, in February 2011, Ribuck reiterated his idea, prompting responses from other users, which led to a debate about the extent of bitcoin’s divisibility.
Finally, a user named Marcus_of_augustus proposed that bitcoin could be divided into 100 million satoshis, which was accepted by the community and led to the way bitcoin works today, when a bitcoin is made up of 100 million satoshis in the same way that a dollar is made up of 100 cents.
