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Questions tagged [satoshi]

'Satoshi' is the term for the smallest unit of Bitcoins.

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1 answer
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Is there a reason why 1 bitcoin = 100000000 sats?

Is there a technical reason why Satoshi implemented Bitcoin with just 8 decimal places? The max number of 64-bit signed integers is usually 9,223,372,036,854,775,807 ; so with the 21 million cap an ...
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2 answers
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How are Satoshis accounted for?

How are Satoshis accounted for and transferred? As in, is it the case that when I have ownership of a particular Sat at an address, is it actually that I own sat number 241536 from BitCoin number ...
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1 vote
1 answer
239 views

Bitcoin alpha version with 15 minutes block time interval

In alpha software prior to Bitcoin's release, the target interblock interval was 15 minutes, and it was reduced to 10 minutes for release. https://www.reddit.com/r/Bitcoin/comments/56nk94/...
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Was Bitcoin originally designed to be easy to mine?

I’ve read that back around early 2009, Bitcoin was so easy to mine that an old laptop could mine hundreds of coins in a day by simply using a CPU. Was this Satoshi’s original idea for how people ...
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1 answer
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Does bitcoin have enough resolution to replace all other currency?

Does bitcoin have enough resolution to replace all other currency? Bitcoin is intended to be used globally, and ideally it would be used in place of government issued currencies. For the purposes of ...
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1 answer
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Locating bitcoin from 2009

In late 2009 maybe early very early of 2010 I was living at my parents and tryi to find a way to make money online. It was all fairly new back then. I remember looking at some computer coders site ...
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2 votes
2 answers
143 views

Is there a widely used symbol for satoshi yet?

Has a symbol been widely adopted for satoshi yet? I've seen Ș suggested but it's already a letter in Romanian. Ꞩ, Ȿ & ẜ (long s with stroke) all seem to be otherwise unused. Has anyone suggested ...
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2 votes
3 answers
531 views

Can the bitcoin lightning network support more than 8 decimal places?

Say Bitcoin goes to 1 a million dollars. We need more decimals, but btc core only supports 8 decimals? By that time its safe to assume everyone will be using lightning to do transactions, but will ...
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1 answer
130 views

How to get amount in RPC

I am developing a bitcoin wallet for education purposes, and i'm working on a getbalance method that given an address i return the balance of the address. Problem is, when communicating via the RPC ...
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1 answer
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Fiat to Satoshi Relationship

Is there a formula to calculate the fiat value of a Satoshi using your fiat principle?
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1 vote
1 answer
40 views

Can I use wallet balance in satoshis as input for transaction builder ( bitcoinjs-lib )? [closed]

Can I use wallet balance in satoshis as input for transaction builder using bitcoinjs-lib ? If yes, how?
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5 votes
2 answers
811 views

Who was the person that told Satoshi "You will not find a solution to political problems in cryptography"?

I think this answer to a statement by Satoshi in the cryptography mailing list is one of the most interesting and revealing things he's said: The original statement: You will not find a solution ...
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1 answer
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Insufficient money, need xxxxxx Satoshis

Trying to process a transaction out of my Multibit wallet, entering the key & the error message 'insufficient money' appears on the screen. I know that I need to add a transaction fee, which I am ...
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1 answer
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Can I open many channels to one connection?

Trying to learn the Lightning Network :) Can I do something like this: STEP 1: Generate new addresses address_1 = cli/lightning-cli newaddr address_2 = cli/lightning-cli newaddr address_3 = cli/...
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0 votes
2 answers
1k views

what is the fastest free way to get at least 1 satoshi

I know CPU mining uses more power than its worth. I know GPU mining uses more power than its worth. Yadda yadda. Regardless, I have a spare server, my home internet is on an unlimited plan, and ...
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11 votes
1 answer
6k views

What is a millisatoshi? I thought satoshi is the smallest unit?

I encountered 'millisatoshi' (msat) while browsing Lightning Network..., see screenshoot below: And subsequently I found it mentioned here: https://github.com/ElementsProject/lightning/blob/master/...
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5 votes
1 answer
832 views

Will all UTXOs eventually be worth 1 Satoshi?

If I want to spend 0.4BTC and I only have a UTXO for 1.0BTC, I will send 0.4BTC to the seller's address and 0.6BTC to my address. The seller has one UTXO and I have the other. One UTXO has become two....
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1 answer
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What is the numerical definition of a Satoshi relative to a BTC?

In previous definitions of a Satoshi, I only saw the decimal place in front of the 0's and the #1 (.0001), but no 0's after the #1 and that's confusing to me. If however you also put the 0's behind ...
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3 answers
2k views

More decimals to Bitcoin

Bitcoin USD price is increasing continuously; it is not impossible to imagine a day where we get 1 satoshi = 1 USD cent or even more, 1 satoshi = 1 USD. In that scenario we have a problem, bitcoin ...
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5 votes
3 answers
1k views

What's the best way to get rid of 1 satoshi dust?

I recently noticed an old address of mine had 1 satoshi sent to it in some dust spam transaction. The thought of this satoshi bloating the UTXO set for everyone bothers me. I'd like to "destroy" it, ...
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3 votes
2 answers
2k views

Can an altcoin be worth less than 1 satoshi (0.00000001 BTC)?

I have a friend who thinks that it's safe to invest in any altcoin that approaches 1 satoshi (0.00000001 BTC) in value, because there will always be someone who is willing to buy it at that price, and ...
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1 answer
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In manual raw tx creation, how do you specify the amount of the bitcoin to be sent?

According to this You can specify the amount of bitcoin with an (apparently) 16 alphanumeric hex representation. It is stated you must specify the bitcoin you want to send in units of Satoshi. ...
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10 votes
1 answer
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Did Satoshi ever acknowledge that his name was a pseudonym?

I am curious if Satoshi publicly acknowledged that he was concealing his real name, or if he actually claimed that was his real name. Like the title says, did Satoshi ever publicly acknowledge that ...
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2 votes
1 answer
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What are the chances that Nick Szabo is Satoshi? [closed]

Wikipedia info on Nick Szabo. Does his interest in Ethereum make it more or less likely it is him? This article seems to support the suggestion: The man everyone thinks is the creator of bitcoin ...
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1 vote
1 answer
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Did Satoshi transfer several bitcoin domains before disappearing?

Wikipedia Satoshi's page says that: Nakamoto continued to collaborate with other developers on the bitcoin software until mid-2010. Around this time, he handed over control of the source code ...
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2 answers
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How can I send thousands of small amounts (10'000 sat.) to bitcoin wallets without paying to much fees?

I want to make a faucet. But my problem is that I don't know how I can make my payouts. I would have a lot of little amounts (like 10'000 satoshis) to pay. Is there an efficient way of doing thousands ...
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2 votes
3 answers
2k views

Where can I find the Bitcoin white paper in plain text markdown format?

Is there a place where I can find the Bitcoin whitepaper by satoshi in plain text markdown format?
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1 vote
0 answers
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Table of coin parameters

What are the P2P network magic bytes P2PKH version byte P2SH version byte Private key version byte P2P Port RPC Port Atomic units per coin (100,000,000 for bitcoin) for Bitcoin, Bitcoin testnet, ...
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1 vote
1 answer
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Was there ever reasoning presented for the size of a satoshi (i.e., the minimum amount of bitcoin that can be transacted)?

If not, what are the prevailing critiques and concerns of that design choice?
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3 votes
2 answers
289 views

Will the block reward continue halving beyond 1 satoshi if bitcoin precision goes beyond 8 decimal places?

If bitcoin precision is increased beyond 8 decimals, will the block reward continue halving forever instead of eventually going from 1 satoshi to 0 satoshi?
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3 votes
1 answer
28k views

How many Dogecoin-satoshis will ever exist?

In Bitcoin, there will only ever be ~21,000,000 coins (slightly less, technically, but I'll just use 21 million for easy calculation). Each bitcoin is 10^8 satoshis. This means there be a maximum: 2,...
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2 votes
1 answer
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Why do the Bitcoin RPC Calls use decimals for coin amounts?

The Bitcoin RPC calls all use 8 digit decimals ('reals') to encode amounts of satoshis. For example, if I get a transaction output, it might look like this: { "value" : 0.00050000, "n" : 1, "...
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17 votes
3 answers
4k views

Why does bitcoin have so many digits if I cannot move anything freely under 10000 satoshi?

So I have a wallet which has a balance of BTC 0.00005493. Even when trying to send these last bitcoin with a custom tx fee (1000 satoshi vs. the recommended 10000) Blockchain.info gives an error ...
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17 votes
3 answers
15k views

How to store Bitcoin values in a MySQL database? floats are bad.... right?

What should I be using to store the values of a wallet in a MySQL database? Apparently floats are too imprecise to be storing Bitcoins, especially down to the satoshi. So what should I be using? ...
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4 votes
1 answer
724 views

Why do my transactions show I received 1 satoshi?

My Multi-Bit client shows 1 satoshi sent to me in my receiving transactions, with 1 confirmation only. The receiving address is quite old too. Why is that showing up when I didn't send myself anything ...
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7 votes
4 answers
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Can each Bitcoin and Satoshi be uniquely identified?

I'm pretty sure I've read somewhere that BitCoins have an "address", so they can be uniquely identified. What I want to know is: Does each Satoshi have it's own unique identity? How is the identity ...
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2 votes
1 answer
166 views

Is it possible to spend outputs with very small amounts?

I'm a Bitcoin newbie and this is rather theoretical question based on this discussion's accepted answer: transaction creation failed So does it essentially mean that in case if my wallet is ...
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2 votes
1 answer
247 views

Can free bitcoins from faucets be actually spent?

Suppose that I have a wallet with 0.001 bitcoins, from dozens of micro transactions (6000 satoshi in average). That means if I want to spend them, it must be concatenated and the transaction fee would ...
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4 votes
1 answer
402 views

Who has named 10e-8 BTC "Satoshi"?

When and where did the term come up for the first time? Did Satoshi Nakamoto comment on the naming?
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1 vote
1 answer
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Naming convention: MilliBit or Millibitcoins (mBTC), microbitcoin or Mikrobitcoins (μBTC)?

I heard about many use: Bitcents, Bitmills (or Bitmilles) 1.02 - One bitcoin and two bitcents 0.001 - One millibitcoin (nickname "one Millie") 0.000001 - One microbitcoin (nickname "one Mike") ...
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11 votes
1 answer
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Is it possible to send one satoshi to every bitcoin address?

As a random whim, I want to see if it's possible to send one satoshi to every bitcoin address that's ever been used. How much would that be? I'm betting the transaction fee would be a lot more, though....
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4 votes
1 answer
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Does it make sense to "collect" smaller transactions balances into a single account during low activity?

My understanding is that it's possible for extra bitcoins to be left in several accounts within my wallet. The scattering of these coins into different accounts may cause future transactions to ...
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5 votes
3 answers
456 views

Alternative uses for last five decimal places of an individual Bitcoin (0.000xxxxx)

At the current conversion rates only the first three decimal points of an individual Bitcoin can be exchanged for a USD equivalent. e.g. 0.002 BTC equals 2 USD cents. That opens up possibilities for ...
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8 votes
1 answer
803 views

Is there a reason SatoshiDice & BitLotto use 0.00543210 BTC, and not 1 satoshi, to customize pay-to addresses?

SatoshiDice and BitLotto allow players to customize where winnings are sent by including an extra 0.00543210 BTC payment to the desired address as part of the entry transaction. Is there a technical ...
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15 votes
2 answers
11k views

Why can we have small fractions of a Bitcoin?

I didn't study the inner workings of Bitcoin (yet), but already since when I just started using it, I wondered why a Bitcoin can be split up in parts. Because there is a limit on the amount of Bitcoin ...
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3 votes
2 answers
1k views

Did Satoshi object to embedding data in the block chain? Why?

From this post: Our beloved Satoshi is on record that he doesn’t think it appropriate to embed data willy-nilly in the block-chain Is this claim true? If so, why did he object? I don't think it'...
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5 votes
1 answer
2k views

Has anyone tried transfering 0.00000001 BTC (the currently minimum amount) successfully?

I did an experiment of withdrawing 0.00000001 BTC from MtGox. And this transaction still cannot be seen on http://blockexplorer.com/ after about an hour. Concern solved, thank you everybody! http://...
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22 votes
8 answers
9k views

Will we ever need smaller amounts of Bitcoin than a Satoshi?

Will there ever be a need to create a unit of Bitcoin smaller than a Satoshi? See also: What is a 'Satoshi'?
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158 votes
5 answers
253k views

What is a 'Satoshi'?

I am aware that Satoshi Nakamoto is the author of the paper that originated Bitcoin and the creator of the original bitcoin client. However, I often hear the term Satoshi as if it was a monetary unit. ...
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