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After the wave of hype in 2017, the vast majority of people in the world heard about it Bitcoin at least once in a lifetime. As you know, the number of coins is limited, you can only extract 21 million pieces, but in this case how can they be distributed among billions of people? The developers have solved this problem by dividing each coin into smaller parts, called "satoshi". So, let's talk more about this topic.
Content:
(please, click on the topic to scroll to it)
- What is satoshi? Satoshi table
- Who is Satoshi Nakamoto and what do we know about him?
- How can you get satoshi?
- Conclusion
1. What is satoshi? Satoshi table
As already mentioned above, BTC coins are further divided into smaller, indivisible, satoshi parts. Bitcoin satoshi can be compared to cents, which are made up of almost all the fiat currencies in the world. There are exactly 100 million satoshi in a BTC and they are not subject to further divisions.
For a better understanding of the BTC / satoshi relationship, please look through this table.
| Satoshi | Bitcoin | First name |
| 1 satoshi | 0.00000001 ฿ | |
| 10 satoshi | 0.00000010 ฿ | |
| 100 satoshi | 0.00000100 ฿ | 1 bit / μBTC (microbitcoin or tu-bit) |
| 1000 satoshi | 0.00001000 ฿ | |
| 10,000 satoshi | 0.00010000 ฿ | |
| 100,000 satoshi | 0.00100000 ฿ | 1 mBTC (millibitcoin or em-bit) |
| 1 000 000 satoshi | 0.01000000 ฿ | 1 cBTC (centibitcoin) |
| 10,000,000 satoshi | 0.10000000 ฿ | |
| 100,000,000 satoshi | 1.00000000 ฿ | 1 BTC |
Because of such a division of money, Bitcoin can be easily used by all the inhabitants of the planet at the same time. (It is important to note that at the moment we are not considering the problem of downsizing, but it only concerns the quantitative part of the demand). This is quite convenient, since any user can make a transaction up to 1 satoshi. Given the current Bitcoin exchange rate of $ 6300, 1 satoshi is $ 0.000063 at the time of writing.
2. Who is Satoshi Nakamoto and what do we know about him?
Satoshi Nakamoto it's not the real name of a real person, it's just the pseudonym of the person (or group of people) who created Bitcoin. So far, there is no specific information about this person's identity. There are only hypotheses and assumptions about being around 40 and living in Japan. But this version does not seem very plausible, because:
- Firstly, all the documents describing the technology, as well as the Bitcoin software itself, are not translated into Japanese and have no localization;
- Secondly, Nakamoto himself speaks English at mother tongue level.
There is another version, which seems more like the truth. Based on this, Satoshi Nakamoto is a pseudonym for an entire team of developers, which includes dozens of talented programmers. The Bitcoin network was launched in January 2009 and, in mid-2010, the creator leaves his offspring for unknown reasons. After this, a group of programmers led by Gavin Andersen starts working on the project.
There are 1 million coins under the control of the mysterious Satoshi Nakamoto. Even at the current rate, not pleasant enough, it is more than 6 billion dollars. At the peak, in December of last year, his fortune was estimated at 20 billion dollars.
Now you can only guess who Satoshi Nakamoto is, since all the numerous attempts by professional journalists to discover the identity of the creator of the first cryptocurrency have failed.
3. How can you get satoshi?
In our time, there are several ways to get satoshi. Let's take a brief look at the main ones:
– Bitcoin faucets. These are services that pay a certain amount of satoshi for the execution of simple tasks (switching of advertisements, decryption and entry of captcha, participation in surveys, etc.).
– Extraction. Small parts of Bitcoin (satoshi) can be obtained using Bitcoin farms or cloud mining.
– Online games. Some projects pay their players for activities, etc.
– Purchase. It's the easiest way to get satoshi. Considering that a currency can be divided into one hundred million pieces, anyone can afford to buy satoshi.
4. Conclusion
Whoever is Satoshi Nakamoto, has (or they) thought well of the structure of Bitcoin and has divided it into 100 million equal parts. This will allow you to make even the smallest transactions that are simply not available in other currencies.
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