12
votes
Accepted
What is a millisatoshi? I thought satoshi is the smallest unit?
It's not a mistake, it's literally a thousandth of a satoshi. A satoshi is the smallest unit for bitcoin, but lightning can transact with even smaller units while channels are open. The amount is ...
- 11.8k
10
votes
Accepted
Why exactly would adding further divisibility to bitcoin require a hard fork?
I think the answer depends on exactly how you define "forced" soft fork. I find that this concept of a forced soft fork is mostly useful as a demonstration that being a soft fork (in the ...
- 102k
8
votes
Accepted
What makes millisatoshi real?
Millisatoshis are the unit in which channel balances are accounted for. They are a necessary accounting unit, if the aim is to enable very small lightning payments amounts, which represents a protocol ...
- 2,501
6
votes
Accepted
If there a formula to decide when more decimal places will be added to Bitcoin?
To the best of my knowledge this has not yet been codified and it is hard to imagine there being a need to smaller Bitcoin increments anytime soon.
At this point smaller increments would suffer ...
- 238
6
votes
Accepted
More decimals to Bitcoin
The Bitcoin developers would have to hard fork the chain to allow it.
I also don't think Bitcoin can get that expensive. Your talking 1 BTC = $100,000,000. If that's the case, the Bitcoin market cap ...
- 1,334
6
votes
Accepted
What does mBtc mean
The m prefix is a SI prefix denoting milli, or one-thousandth of a known value.
Thus, 1 BTC = 1000 mBTC, or 1 mBTC = 0.001 BTC.
You appear to have 0.83 mBTC, which is 0.00083 BTC, or about 6 USD at ...
- 16.9k
4
votes
Why exactly would adding further divisibility to bitcoin require a hard fork?
It requires a hard fork because it would essentially be a redefinition of the base unit.
In Bitcoin, the base unit is the Satoshi. Amounts in transactions are counted with integers in sats. This ...
- 68.5k
4
votes
Accepted
Is there any Bitcoin layer (eg. Bitcoin = L1, Lightning = L2, etc.) on which the satoshi (SAT) is divisible?
The native unit of the Bitcoin protocol is the satoshi. All output values in Bitcoin transactions are expressed in whole numbers of satoshis. Bitcoin's protocol does not use any non-integer values for ...
- 72.6k
4
votes
What is the numerical definition of a Satoshi relative to a BTC?
Satoshis are indivisible on the Bitcoin blockchain. Therefore, it doesn't make any sense to add a decimal point or digits after the decimal point to satoshi values.
The conversion is:
100,000,000 ...
- 72.6k
3
votes
Buy Bitcoins in partition
Buying bitcoin is no different to buying carrots.
If you buy 10kg of carrots for $3 in one place and the next day buy another 10kg of carrots for $4 you have 20kg of carrots.
Can you buy some percent ...
- 25.2k
3
votes
Accepted
The BTC shows 10^8 times more than what is received in the account
Apparently the app shows the amount as Satoshi (the smallest unit) instead of BTC. For internal calculations that's ok because it avoids rounding errors, but for input and output you should scale by ...
2
votes
Why is Bitcoin defined as having 8 decimal places?
The world GDP is $74 trillion footnote: a according to the World Bank in 2017. The max supply of Bitcoin with 108 base units is 2,100 trillion Satoshis.
If Bitcoin is to back the world's money, ...
- 21
2
votes
What makes millisatoshi real?
Nothing makes Millisatoshi real.
They are indeed backed on trust. They are needed due to rounding issues. It is not an issue because otherwise during fee calculation people would also loose up to ...
- 11.8k
2
votes
More decimals to Bitcoin
If one Satoshi would be 1 dolar, then the full market cap of Bitcoin would be all the coins available multiplied by it's price.
There is 16707388 bitcoins in circulation at 29th/november/2017.
A ...
- 21
2
votes
The BTC shows 10^8 times more than what is received in the account
Yes, and in bitcoinj there are actually two classes for formatting Coin values for humans: MonetaryFormat and BtcFormat. I strongly suggest using one of the two.
Here's an example:
Wallet wallet = &...
- 539
1
vote
Is there a reason why 1 bitcoin = 100000000 sats?
I don't know of any comments Satoshi left himself about the choice of 8 decimal places, but this comment on bitcointalk.org alleges that it was the result of a computation involving the M1 world fiat ...
- 102k
1
vote
If Bitcoin hits $100,000 how much is 0.01 Bitcoin worth in $?
First of all 0.01 Bitcoin is 0.01 Bitcoin which is one hundredth of a Bitcoin.
So if people would be willing to pay $100,000 for one Bitcoin naive economy and math would suggest that they are willing ...
- 11.8k
1
vote
What will happen to bitcoin if the world population increases?
The amount of bitcion in circulation does not increase or decrease based on human population. So, yes, it will likely be distributed more sparsely among people if the world's population increases.
...
- 8,822
1
vote
Accepted
Possibility of fractions less than 1 satoshi in transaction fees
No, it's not possible. Transaction fees are not explicitly included in transactions: they are computed from the difference between the sum of the amounts of the outputs and the sum of the amount of ...
- 1,598
1
vote
Will we ever need smaller amounts of Bitcoin than a Satoshi?
1 Bitcoin is 100'000'000 satoshis (100 million). That makes 1 satoshi worth 1 USD cent when 1 Bitcoin is worth $1 million.
If 1 Bitcoin would be worth 1 million dollars, the market cap would be 21 ...
- 269
1
vote
What is a 'Satoshi'?
If you need formula
108 Satoshis == 1 BTC
or in Python
def btc2satoshi(btc: float) -> int:
return int(btc * 10**8)
BTC = 1.0
print(btc2satoshi(BTC))
- 176
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