Can you explain the meaning of satoshi in the realm of cryptocurrency?

3 answers

• OldOzLimnoOct 08, 2023 · 2 years ago
  Satoshi is the smallest unit of Bitcoin, named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. It represents one hundred millionth of a Bitcoin (0.00000001 BTC). The term 'satoshi' is commonly used to measure and discuss the value and transactions within the Bitcoin network. It allows for precise calculations and enables microtransactions, making it essential for the scalability and usability of Bitcoin.
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• 1710Jun 17, 2020 · 5 years ago
  You know, satoshi is like the penny of Bitcoin. It's the smallest unit you can have. Just like how 100 pennies make a dollar, 100 million satoshis make a Bitcoin. So, if you ever hear someone talking about satoshis, they're basically talking about tiny fractions of Bitcoin. It's like talking about cents instead of dollars. It's a way to break down the value and make it easier to work with.
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• Niya JamesApr 09, 2022 · 4 years ago
  Satoshi is the smallest unit of Bitcoin, and it plays a crucial role in the Bitcoin ecosystem. It allows for the precise measurement of value and facilitates microtransactions. For example, if you want to send someone a very small amount of Bitcoin, like a few cents, you can do so using satoshis. It's like having the ability to send someone a fraction of a penny. Without satoshis, it would be challenging to transact with such small amounts on the Bitcoin network.
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