Michael McGowan
  • Member for 10 years, 4 months
  • Last seen more than 2 years ago
  • West Chester, PA, United States
What is a 'Satoshi'?
Accepted answer
155 votes

A Satoshi is the smallest fraction of a Bitcoin that can currently be sent: 0.00000001 BTC, that is, a hundredth of a millionth BTC. In the future, however, the protocol may be updated to allow ...

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What happens to my bitcoins if lose my wallet file e.g. I suffer data loss and my computer is unrecoverable?
12 votes

The Bitcoins never disappear, but if you lose your wallet, then you lack the keys necessary to actually use those Bitcoins. So although the coins do not disappear, they are effectively removed from ...

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How do you obtain bitcoins?
9 votes

This is from my answer on Money.SE: You can set up your computer to mine for Bitcoins, you can exchange goods and services for Bitcoins, or you can purchase Bitcoins on an exchange. Some people will ...

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Upper and lower bounds of the amount of bitcoins?
6 votes

Yes, there are 21 million whole bitcoins, each divisible up to 10^-8. Yes, transactions for fractions of bitcoins are quite common, just as transactions for fractions of dollars are common. I could ...

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Are there alternatives to Bitcoin which take a different approach?
4 votes

(answering the original question, before the edit) I suppose it depends on what specific characteristics matter to you. There are plenty of examples of non-government "money." WoW gold, Linden ...

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How does the mining process support the currency?
1 votes

For the currency to work, the coins have to get out into the market somehow. For Bitcoin to be decentralized, the distribution mechanism would have to be something besides some organization merely ...

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Can the price of Bitcoin ever be stable to the USD?
1 votes

The price is a reflection of basic market forces at work: supply and demand. Currently relatively small transactions represent a large portion of the market, so this can naturally lead to some ...

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