Cryptocurrency Q&A
What is the smallest currency of Bitcoin?
What is the smallest currency of Bitcoin?
CryptoNinja
Sat Oct 05 2024
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6 answers
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Could you please clarify for me what the smallest unit of Bitcoin is? I understand that Bitcoin is a digital currency, but I'm not sure about the specific denomination that represents the smallest amount of it. Is it a fraction of a Bitcoin, or is there a specific term for it? I'm interested in understanding the smallest unit of measurement for Bitcoin transactions.
6 answers
Valentino
Mon Oct 07 2024
Each satoshi holds a specific value, equivalent to 100 millionth of a bitcoin, making it an infinitesimal fraction of the larger unit.
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Bianca
Mon Oct 07 2024
The origin of the term 'satoshi' stems from the pseudonymous founder(s) of bitcoin, known collectively as Satoshi Nakamoto.
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Chiara
Mon Oct 07 2024
This naming convention serves as a testament to the groundbreaking work of Nakamoto, who revolutionized the world of digital currencies.
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SamsungShiningStar
Mon Oct 07 2024
The significance of the satoshi lies in its ability to facilitate microtransactions, allowing users to send and receive extremely small amounts of Bitcoin with ease.
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KimonoGlitter
Mon Oct 07 2024
The satoshi, a fundamental unit of the Bitcoin cryptocurrency, represents the smallest possible denomination within the system.
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