Cryptocurrency Q&A
What is 1 1000th of a Bitcoin?
What is 1 1000th of a Bitcoin?
HanjiHandiwork
Tue Aug 20 2024
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7 answers
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Could you please clarify for me what exactly is meant by "1 1000th of a Bitcoin"? I understand that Bitcoin is a digital currency, but I'm unsure how to interpret this fraction. Is it a small unit of Bitcoin that's used for transactions, or is it simply a way of expressing a portion of a Bitcoin's value? I'd appreciate any additional context or explanation you could provide to help me better understand this concept.
7 answers
Alessandro
Thu Aug 22 2024
For handling smaller amounts of bitcoin, there exist specific units known as the millibitcoin (mBTC) and the satoshi (sat).
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Andrea
Thu Aug 22 2024
The millibitcoin, abbreviated as mBTC, represents a fraction of bitcoin equivalent to 1/1000 of a full bitcoin.
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DondaejiDelightfulCharm
Thu Aug 22 2024
This unit is useful for transactions that do not require the entire bitcoin amount, providing a more manageable denomination.
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Davide
Thu Aug 22 2024
Cryptocurrency units are designed to cater to various transaction sizes, allowing for both large-scale and micro-transactions.
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Margherita
Thu Aug 22 2024
The satoshi, on the other hand, is the smallest possible unit of bitcoin, representing 1/100000000 (one hundred millionth) of a bitcoin.
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