Questions tagged [satoshi]
'Satoshi' is the term for the smallest unit of Bitcoins.
42
questions
1
vote
3answers
153 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 ...
0
votes
1answer
58 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 ...
0
votes
1answer
158 views
Fiat to Satoshi Relationship
Is there a formula to calculate the fiat value of a Satoshi using your fiat principle?
1
vote
1answer
23 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?
4
votes
2answers
211 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 ...
0
votes
1answer
43 views
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 ...
0
votes
1answer
67 views
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/...
0
votes
2answers
719 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 ...
7
votes
1answer
3k 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/...
5
votes
1answer
808 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....
1
vote
1answer
325 views
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 ...
3
votes
3answers
1k 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 ...
4
votes
3answers
838 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, ...
3
votes
2answers
1k 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 ...
2
votes
1answer
138 views
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.
...
10
votes
1answer
473 views
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 ...
2
votes
1answer
448 views
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 ...
1
vote
1answer
213 views
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 ...
1
vote
2answers
246 views
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 ...
2
votes
3answers
1k 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?
1
vote
0answers
88 views
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, ...
1
vote
1answer
127 views
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?
3
votes
2answers
203 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?
2
votes
1answer
3k 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,...
2
votes
1answer
173 views
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,
"...
18
votes
3answers
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 ...
14
votes
3answers
10k 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? ...
4
votes
1answer
623 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 ...
6
votes
4answers
3k views
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 ...
2
votes
1answer
148 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 ...
2
votes
1answer
239 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 ...
4
votes
1answer
352 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?
1
vote
1answer
3k views
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")
...
11
votes
1answer
1k views
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....
4
votes
1answer
566 views
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 ...
4
votes
3answers
414 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 ...
8
votes
1answer
783 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 ...
13
votes
2answers
10k 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 ...
3
votes
2answers
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'...
5
votes
1answer
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://...
19
votes
7answers
5k 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'?
150
votes
5answers
243k 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.
...
