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BITCOIN NEEDS TO BE WORTH $1000000 TO BE A LEGITIMATE CURRENCY

admin - 21/08/2021 192

The following page supplies a simple conversion tool from Satoshis (the smallest unit of account in Bitcoin equalling 0.00000001 Bitcoins) to lớn USD / EUR / CNY / GBPhường / RUB / CAD. It is updated live sầu as soon as you enter the value of Satoshis you require.

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Bitcoin Units

Here’s a danh mục of the different Bitcoin units you may encounter. You can click the Satoshi value below lớn use it in the calculator above instantly.

1 Satoshi	= 0.00000001 ฿
10 Satoshi	= 0.00000010 ฿
100 Satoshi	= 0.00000100 ฿	= 1 Bit / μBTC (you-bit) / bit / microbitcoin
1,000 Satoshi	= 0.00001000 ฿
10,000 Satoshi	= 0.00010000 ฿
100,000 Satoshi	= 0.00100000 ฿	= 1 mBTC (em0bit) / millibitcoin
1,000,000 Satoshi	= 0.01000000 ฿	= 1 cBTC (bitcent)
10,000,000 Satoshi	= 0.10000000 ฿
100,000,000 Satoshi	= 1.00000000 ฿	= 1 Bitcoin

The term “bit” is a unit being used khổng lồ represent smaller Bitcoin amounts. Due to the rising value of 1 bitcoin (currently 1 BTC = $48,691), many prices must be displayed in fractional bitcoin amounts.

For example, a bottle of beer might be priced at .00085 BTC. These fractional numeric values can be confusing & difficult for many people khổng lồ read. The bit sub-unit (equal khổng lồ 0.000001 BTC) is considered by many to be a more memorable and intuitive way of displaying Bitcoin amounts; the aforementioned beer would cost 850 bits.

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Originally proposed on Bitcoin the sub-reddit, & now being embraced by the payment processor Bitpay, the bit sub-unit offers the following advantages:

More compatible with existing financial software that can only handle 2 decimal places. For example: using a figures like 49.99 bits instead of .00004999 bitcoins.Figures would remain easily readable in the sự kiện of an extreme rise in Bitcoin’s exchange rate: if 1 Bitcoin was worth $100,000, then a $4.99 beer would cost 49.90 bits.Bit is an easier lớn rethành viên unit when compared lớn other longer unit names & acronyms: 100 bits instead of 100 microbitcoins/100 μBTC/1 millibitcoin/1 mBTC).

However, there are some disadvantages to the bits nomenclature:

Can be confused with the binary unit “bit” in computing, or the old-fashioned US currency unit of “bit”, which is 12.5 cents.Unit prefix terms such as micro-, milli-, và centi- are more familiar lớn those who use the metric measurement system (i.e. everyone except Americans).

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How khổng lồ Convert Bitcoins khổng lồ Bits

1 bit is equal to lớn 0.000001 bitcoin. So converting a bitcoin amount lớn bits can be done by dividing the bitcoin amount by .000001. For instance:

42.66 bitcoins ÷ .000001 = 42,660,000 bitsTo go from bits back khổng lồ bitcoins, multiply the bits amount by .000001:

42,660,000 bits × .000001 = 42.66 bitcoins

How to lớn Convert a National Currency Price to lớn a Bits Price

To convert national currency lớn the bits unit, you first need to lớn know the exchange rate. In this example, we’ll use the current BTC/USD exchange rate of 1 bitcoin being worth around $7500 USD. Multiply $7500 by .000001 khổng lồ determine how 1 bit is worth:

$7500 × .000001 = $.0075So 1 bit is worth $.0075. What if we wanted lớn convert a price lượt thích $9.99 khổng lồ bits? Just divide the price by the current bits exchange rate:

$9.99 / $.0075 = 1,332 bits