Difference between revisions of "Satoshis"
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| − | A ''' | + | A '''satoshi''' is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after [[Satoshi Nakamoto]], the author of the 2008 Bitcoin whitepaper. |
Satoshis are represented as integers where 1 satoshi is the smallest unit of exchange on the Bitcoin ledger. | Satoshis are represented as integers where 1 satoshi is the smallest unit of exchange on the Bitcoin ledger. | ||
| − | + | "Bitcoins" are a human construct, as all values in Bitcoin are treated as integer quantities of satoshis, rather than decimal bitcoin fractions in the protocol. | |
| − | + | The table below provides information on how many satoshis are in a Bitcoin, depending on their quantity: | |
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| − | The table below provides information on how many | ||
{| class="wikitable" | {| class="wikitable" | ||
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| 100 000 000 || 1 | | 100 000 000 || 1 | ||
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| − | Thus, '''1 Satoshi = 0.00000001 | + | Thus, '''1 Satoshi = 0.00000001 Bitcoin'''. |
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==Satoshis and the Miner Subsidy Schedule== | ==Satoshis and the Miner Subsidy Schedule== | ||
| − | The total number of satoshis in existence is | + | The total number of satoshis in existence is approximately 2.1 x 10<sup>15</sup> (21 million BSV), and they are distributed at a mathematically predictable rate using the [[Miner subsidy|Miner subsidy]] formula. The miner subsidy, which began at 50 newly minted bitcoins per block, is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the Miner subsidy will fall below 1 BSV to 78125000 satoshis (0.78125 BSV). |
| − | By the time of the 31st halvening (approximately the year 2136) the | + | By the time of the 31st halvening (approximately the year 2136) the Miner subsidy will be reduced to 1 satoshi and in the year 2140 (block no. 6,720,000) the subsidy will finish marking the final distribution of satoshi tokens onto the ledger. |
==See Also== | ==See Also== | ||
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==Attribution== | ==Attribution== | ||
| − | This content is based on content sourced from https://en.bitcoin.it/wiki/Satoshi_(unit) under [https://creativecommons.org/licenses/by/3.0/ Creative Commons Attribution 3.0]. Although it may have been extensively revised and updated we acknowledge the original authors. | + | This content is based on content sourced from https://en.bitcoin.it/wiki/Satoshi_(unit) under [https://creativecommons.org/licenses/by/3.0/ Creative Commons Attribution 3.0]. Although it may have been extensively revised and updated, we acknowledge the original authors. |
Latest revision as of 01:25, 18 November 2020
A satoshi is the smallest division of a bitcoin and the base unit of exchange on the Bitcoin SV network. There are 100,000,000 satoshis in 1 bitcoin. The unit is named after Satoshi Nakamoto, the author of the 2008 Bitcoin whitepaper.
Satoshis are represented as integers where 1 satoshi is the smallest unit of exchange on the Bitcoin ledger.
"Bitcoins" are a human construct, as all values in Bitcoin are treated as integer quantities of satoshis, rather than decimal bitcoin fractions in the protocol.
The table below provides information on how many satoshis are in a Bitcoin, depending on their quantity:
| Satoshi | BSV |
|---|---|
| 1 | 0.00000001 |
| 10 | 0.0000001 |
| 100 | 0.000001 |
| 1 000 | 0.00001 |
| 10 000 | 0.0001 |
| 100 000 | 0.001 |
| 1 000 000 | 0.01 |
| 10 000 000 | 0.1 |
| 100 000 000 | 1 |
Thus, 1 Satoshi = 0.00000001 Bitcoin.
Satoshis and the Miner Subsidy Schedule
The total number of satoshis in existence is approximately 2.1 x 1015 (21 million BSV), and they are distributed at a mathematically predictable rate using the Miner subsidy formula. The miner subsidy, which began at 50 newly minted bitcoins per block, is scheduled to divide in 2 every 210,000 blocks, approximately every 4 years. At the time of the 6th halvening (approximately 2032) the Miner subsidy will fall below 1 BSV to 78125000 satoshis (0.78125 BSV).
By the time of the 31st halvening (approximately the year 2136) the Miner subsidy will be reduced to 1 satoshi and in the year 2140 (block no. 6,720,000) the subsidy will finish marking the final distribution of satoshi tokens onto the ledger.
See Also
Attribution
This content is based on content sourced from https://en.bitcoin.it/wiki/Satoshi_(unit) under Creative Commons Attribution 3.0. Although it may have been extensively revised and updated, we acknowledge the original authors.