Difference between revisions of "Satoshis"

m
 
(15 intermediate revisions by 3 users not shown)
Line 1: Line 1:
  
  
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 pseudonymous author of the 2008 Bitcoin whitepaper.
+
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 the Bitcoin cryptocurrency.  
+
Satoshis are represented as integers where 1 satoshi is the smallest unit of exchange on the Bitcoin ledger.  
  
A single Bitcoin is a human construct, as any value of Bitcoin less than 100,000,000 satoshis are actually treated integers in the code, not decimals.
+
"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.
  
==How many Satoshis in a Bitcoin==
+
The table below provides information on how many satoshis are in a Bitcoin, depending on their quantity:
 
 
What is a Satoshi? '''Satoshi''' meaning the smallest indivisible unit of the Bitcoin cryptocurrency. In fact, the analogue of Satoshi cryptocurrency is a penny or a cent. It is a one hundred millionth of a single bitcoin (0.00000001 BSV). The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]].
 
 
 
The table below provides information on how many Satoshis in a Bitcoins, depending on their quantity:
 
 
{| class="wikitable"
 
{| class="wikitable"
 
|-
 
|-
Line 34: Line 30:
 
| 100 000 000 || 1
 
| 100 000 000 || 1
 
|}
 
|}
Thus, '''1 Satoshi = 0.00000001 BSV.'''
+
Thus, '''1 Satoshi = 0.00000001 Bitcoin'''.
 
 
When considering the decision on the limit of the digital currency issue (now it is 21 million), the question of its popularity was raised. After all, with such a small volume to gain popularity, at that time, it seemed quite problematic. As a result, it was decided to introduce a change coin, thereby crushing one bitcoin into a huge number of parts.
 
 
 
In the end, this coin was called "Satoshi". There are many calculators for converting various currencies into other cryptocurrencies or fiat money [https://www.bestchange.ru stock calculator]
 
 
 
All amounts in the blockchain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin. When displaying an extremely small fraction of a bitcoin, as in a faucet, the amount is displayed in satoshi for readability.
 
  
 
==Satoshis and the Miner Subsidy Schedule==
 
==Satoshis and the Miner Subsidy Schedule==
  
The total number of satoshis in existence is limited to 2.15 x 10<sup>15</sup>  (21 million BSV) and issued at a mathematically defined rate though a [[Miner subsidy|miner subsidy]]. The miner subsidy 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).
+
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 miner subsidy will be reduced to 1 Satoshi and in the year 2140 (block no. 6,720,000) the subsidy will vanish.
+
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==
Line 52: Line 42:
 
* [[Miner subsidy]]
 
* [[Miner subsidy]]
  
==References==
+
==Attribution==
* [1] https://www.bestchange.ru stock calculator
+
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.