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How much is a bit now?


Kakashi2020

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On 12/6/2018 at 6:03 PM, Kakashi2020 said:

There are 1 million bits to a Bitcoin and with its current price of $3819 per coin divided by 1million then we'll get $0.0038 per bit.

I see. I thought its central unit of conversion was Satoshis? Like more people use the term "Satoshi" more than "bits" right?

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59 minutes ago, NerdIndeed said:

I see. I thought its central unit of conversion was Satoshis? Like more people use the term "Satoshi" more than "bits" right?

They call the smallest unit or bit "Satoshis" in acknowledgement to it's supposed founder Satoshi Nakamoto who turns out to be not true.  As of today, noone knows who invented the Block Chain Technology.  Also it's called BITcoin so it's composed of Bits.

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17 hours ago, Kakashi2020 said:

They call the smallest unit or bit "Satoshis" in acknowledgement to it's supposed founder Satoshi Nakamoto who turns out to be not true.  As of today, noone knows who invented the Block Chain Technology.  Also it's called BITcoin so it's composed of Bits.

I see, now I know. Thank you very much as I've learned something new again today. All the best my friend!

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Quite informative information, I stopped maintaing that knowledge anymore. Kinda disappointed I bought Bitcoin before the fall of it (6 months ago). My friend bought a Nanobit Ledger to store his Bitcoins even earlier, when it was by a lot more expensive. Can't imagine how he feels about it now.

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