Author: Bryan Smith

While most fiat currencies can be divided to one-hundredth of their values, bitcoin itself is presently divisible down to eight units. We explore what the terms “millibitcoins”, “bits” and “satoshi” mean, and what their place is within the Bitcoin network. When Satoshi Nakamoto released the bitcoin white paper, bitcoin was designed to be both a term that pertained to a new form of peer-to-peer monetary system and that system’s base currency. Bitcoins, as we call them in plural, have gone on to represent the leading cryptocurrency and the pioneer monetary system relying on blockchain technology. In the same way that…

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