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5

The number of satoshi per bitcoin is 1e8 or 100,000,000, so if you have a fiat value per bitcoin such as $7000/BTC, the calculation is: $/satoshi = $7000/1e8 = $0.00007 per satoshi Of course, there is no fixed fiat to satoshi value because the fiat value of Bitcoin is determined by the market, i.e. exchange value.


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What kind of person makes such a transaction? Its important to understand how bitcoin transactions work here. Whoever spent that output didn't necessarily send 300 BTC to someone else! Under the hood, BTC exist as 'unspent transaction outputs' (UTXOs). Each UTXO has a certain value (the number of bitcoin it represents), for example someone may own a 300 BTC ...


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I don't know if technically you would be able to purchase Bitcoin with CBDC or any other financial instrument. Why not? If the exchange or any peer accepts CBDC as payment for selling you bitcoin then I don't see any reason how it would be different. My understanding is at present you can only buy bitcoin with USD, other fiat currencies are converted to ...


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You seem to be somewhat confused about how currency markets, specifically for Bitcoin work, so I'm going to breakdown how a payment service using Bitcoin works for using your example. You have a shop that sells an item, let's say a basket, for $500. On Monday, 1 BTC = $100. The customer places an order on Monday, and you generate an invoice based on that ...


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The essential character of money is that you transfer it (or control over it) to another person in exchange for some object or service. There is no way to use money to purchase something and still retain the money. None of the alternatives are acceptable to you for various reasons Rent Mortgage Invest money in a business and defer purchase until investment ...


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The most extensive research on this topic is:"An Order-of-Magnitude Estimate of the Relative Sustainability of the Bitcoin Network" by Hass McCook among others, it cover specific topic as the economic and environmental cost of cash printing & coin minting, banking system, gold mining & recycling etc ... The results of the research are ...


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Because they are different markets. Each trading pair is its own market with its own supply and demand. Each has its own set of orders and traders. It is the same reason that different exchanges have Bitcoin at different rates: they are independent of each other.


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Since no one else has made the attempt, I will (partially) answer my own question. To create a lower bound on the operating cost of the non-bitcoin financial system, I will add the operating costs of the 10 largest banks in the world. 2020/2021 are atypical years, so lets use the operating costs from 2019. According to the doughroller.net these are the &...


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If bitcoin is converted to fiat money on an exchange, the exchange has irrefutable knowledge of your identity because they require the account name and bank account name to match. Use Bisq and other non-KYC Exchanges. Also follow the best practices mentioned in this comment: Don't reuse addresses. Use coinjoin and payjoin when required. Run and use your ...


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If I use a service such as Coinbase to buy Bitcoin, Coinbase generates a BC address for me and that's recorded in the blockchain. No, it's not recorded in the blockchain, but in their own systems, basically they associate that address to your coinbase account If I convert to fiat (i.e., USD) all BC at the address and send that USD to my bank account, ...


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In the US, nobody is likely to care if you assume a zero basis and pay capital gains tax on the full value of the bitcoins. If anyone asks, just explain that you acquired them back when they were nearly worthless. There are a lot of people in that same situation.


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Because it is much harder to do escrow with fiat. Fiat currencies are subject to various regulations which make this difficult. The escrow service would have to be registered as a money transferring business and be required to follow AML/KYC regulations. This means that all users would have to submit personally identifying documentation to the service in ...


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