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How Many Bits Are There In 1 Bitcoin?

Bitcoind - How To Calculate Transaction Bytes Of A X Btc? X=0.2 - Bitcoin Stack Exchange

Bitcoind - How To Calculate Transaction Bytes Of A X Btc? X=0.2 - Bitcoin Stack Exchange

how to calculate transaction bytes of a x BTC? x=0.2 but i will not understand what are in and out.as describe in this link in=40 and out=16 This question is pretty hard to understand languagewise, could somebody that understood its intent please improve it and properly tag it? Murch Jun 3 '15 at 12:47 In the simplest typical case, you'll have one input and two outputs (the recipient, and change). So in=1 and out=2. According to the linked formula, the transaction size will be about 160+2*34+10 = 258 bytes. It does not depend on how many bitcoins you are sending. However, if the money you are sending came from many different sources, you will have many inputs and the transaction will be bigger. Again, this does not depend on the amount of money, but on the complexity of your wallet's history. in =1times = .2btc **out**=2times = 0.8btc and 0.2btc . is it right?? what is my transaction fee for that??? sorry for disturbing you.. thank you Md Shahadat Hossain Jun 10 '15 at 6:07 Usually a fee of 0.0001 bitcoin will get your transaction confirmed quickly. Meni Rosenfeld Jun 10 '15 at 17:53 i transaction many type of amount. but a amount .0002BTC i do transaction many times, it fees as 0.00012568, 0.00015528 BTC, 0.00012096 BTC. how can i calculate this value??? Md Shahadat Hossain Jun 11 '15 at 5:29 @ShahadatHossain: I don't know. Meni Rosenfeld Jun 11 '15 at 11:28 Usually, you want to do this to estimate a fee before sending a transaction. Transaction fees are way more complicated than they probably should be. I'll stick to calculating the transaction size here, but keep in mind there's more to the picture when talking about fees. in is the number of inputs, and out is the number of outputs. If you haven't seen this discussed before, here's a crash course. Using a block exp Continue reading >>

Why Bitcoin Should Be Broken Into 'bits'

Why Bitcoin Should Be Broken Into 'bits'

Apr 25, 2014 at 10:52 UTC|UpdatedApr 25, 2014 at 18:30 UTC Any form of money needs to be easily broken down into sub-units to allow an equal exchange for goods or services. And bitcoin is wonderfully divisible, with its smallest unit being the tiny 0.00000001of a bitcoin - a unit known as a 'satoshi'. However, such divisibility does come with one disadvantage. The Bitcoin Wiki, a source of BTC-related knowledge, has a lengthy chart spelling out the large number of different bitcoin sub-units:including mBTC, BTC and cBTC, and many more. But do you know what they stand for? Thankfully, there may be a better solution. A proposal floated on reddit has called for bitcoin to be broken down into just one smaller unit. That would mean that a single bitcoin would be divided into 1,000,000 individual units - or 'bits'. So, one bit would be worth0.000001 BTC, which at recent prices would roughly amount to $.0004. One hundred bits would be $.04. Previous year's bitcoin prices. Source: CoinDesk BPI This division of a bitcoin may seem infinitesimalnow, but, given that the price of bitcoin is up about four times what it was just a year ago, and may one day be worth thousands of dollars , it makes sense. Right now, breaking down bitcoin below the very understandable price-per-coin concept isn't easy to understand. From memory, is it easy to recall what a BTC (microbitcoin) is? Or that a mBTC (millibitcoin) is 0.001 of a bitcoin? Do we really need a bunch of different hard-to-remember names and acronyms? There is a logic within the system, but such scientific nomenclature is anything but user-friendly. Bitcoin is digital, so computers can divide it very simply, but it's not so easy for the average human brain, especially when looking at the smaller units, therefore a simpler system may Continue reading >>

1,000,000 Bits = 1 Bitcoin. Future-proofing Bitcoin For Common Usage? Vote

1,000,000 Bits = 1 Bitcoin. Future-proofing Bitcoin For Common Usage? Vote

1,000,000 bits = 1 bitcoin. Future-proofing Bitcoin for common usage? VOTE Satoshi recognized that 21 million currency units are not enough for a global currency. His solution was to support eight decimal places on amounts, which also allows the reward halving process to continue for about 140 years. Internally the Bitcoin software recognizes 2,100 million million currency units (now known as satoshis) but they are divided by 100 million before presentation to users. So the block reward is currently 2,500 million satoshis or 25 bitcoins. Bitcoin units were fine for the first few years, but during the last 12 months the question keeps arising "Is another unit best for common usage?" All modern fiat currencies have a major currency unit which has 100 minor units: e.g. $1 = 100 cents. Everyone is used to this system from childhood. Many people are not comfortable with scientific notation or with small decimals such as 0.001234 which will be seen more and more often as the unit value of 1 bitcoin rises. Most people are happier dealing with 100,000 than 0.00001 Further, 99.99% of the world's financial and accounting systems do not support more than 2 decimal places on currencies, let alone as many as eight. It is arguable that Bitcoin has a very real handicap upon its growth by disregarding modern conventions in currencies. User 101111 on reddit recommended this mock-up wallet. The current Bitcoin Core wallet does allow the selection of millibitcoins and microbitcoins but not with such a user friendly presentation, and not by default. Is it time to consider using "bits" as standard? All balances become 1 million times larger, the block reward as 25 million bits, the exchange rate as 0.04 cents to a bit, a cup of coffee as 7000 bits instead of 0.007 BTC Is this an improvemen Continue reading >>

Bit (money) - Wikipedia

Bit (money) - Wikipedia

This article is about the slang term for certain coins. For the digital currency, see Bitcoin . For other uses of the term "Two bits", see Two bits . The word bit is a colloquial expression referring to specific coins in various coinages throughout the world. In the United States, the bit is equal to one eighth of a dollar or 1212cents. In the U.S., the "bit" as a designation for money dates from the colonial period, when the most common unit of currency used was the Spanish dollar , also known as "piece of eight", which was worth 8 Spanish silver reales . One eighth of a dollar or one silver real was one "bit". With the adoption of the decimal U.S. currency in 1794, there was no longer a U.S. coin worth 18 of a dollar but "two bits" remained in the language with the meaning of one quarter dollar, "four bits" half dollar, etc. Because there was no one-bit coin, a dime (10) was sometimes called a short bit and 15 a long bit. (The picayune , which was originally 12real or 12bit ( 614). In addition, Spanish coinage, like other foreign coins, continued to be widely used [1] and allowed as legal tender by Chapter XXII of the Act of April 10, 1806 [2] until the Coinage Act of 1857 discontinued the practice. Robert Louis Stevenson describes his experience with bits in Across the Plains , (1892) p.144: [3] In the Pacific States they have made a bolder push for complexity, and settle their affairs by a coin that no longer exists the BIT, or old Mexican real. The supposed value of the bit is twelve and a half cents, eight to the dollar. When it comes to two bits, the quarter-dollar stands for the required amount. But how about an odd bit? The nearest coin to it is a dime, which is, short by a fifth. That, then, is called a SHORT bit. If you have one, you lay it triumphantly down Continue reading >>

The Case For Using Mbtc Over Btc Denominations

The Case For Using Mbtc Over Btc Denominations

The Case for Using mBTC Over BTC Denominations As bitcoins price has gained quite a bit of value over the past few months, many bitcoin proponents have been asking the community to start thinking about using mBTC denominations rather than using decimal points. People proposing this idea believe its the right time to start referring to bitcoin percentages below one bitcoin in this fashion, to make calculations easier and to attract new users who think one bitcoin is too expensive. Also read: Hungarys Central Bank and Police Create Onecoin Surveillance Group The fiat value of bitcoin is getting seemingly close to the US$2000 range as the price per BTC hit an all-time high on May 11 reaching $1890 across global exchanges. Since bitcoins value is growing larger a bunch of cryptocurrency enthusiasts have proposed people start using mBTC denominations. One mBTC ,otherwise known as a millibitcoin, is one thousandth of a whole bitcoin, or 0.001BTC. At current market prices, one mBTC is worth $1.85, and people have been bolstering the mBTC idea well before one mBTC was a dollar. The reason people would like to use the mBTC unit measurements instead is because its easier for humans to innumerate and communicate smaller portions of bitcoin. Furthermore, some people just learning about bitcoin sometimes believe they have to purchase a whole coin, which is not the case as anyone can purchase bitcoinsin fractions. So bitcoin proponents believe using units of mBTC to describe smaller portions would allow new users to better conceptualize that they can buy ten dollars worth or 5 mBTC. There are a few wallet services and business that use the mBTC unit denomination within their applications interface. Wallets that use mBTC include Electrum, Blockchain, and Mycelium. Another terminology Continue reading >>

Satoshi To Bitcoin (btc) Converter & Calculator

Satoshi To Bitcoin (btc) Converter & Calculator

Each bitcoin (BTC) is divisible to the 8th decimal place, so each BTC can be split into 100,000,000 units. Each unit of bitcoin, or 0.00000001 bitcoin, is called a satoshi. A Satoshi is the smallest unit of Bitcoin. Satoshi to Bitcoin is a Bitcoin converter/calculator. Right now, we offer two converters: Satoshi to BTC and BTC to Satoshi. Continue reading >>

Bitcoin Units & Denominations - Explained Simply | Bitcoin Chaser

Bitcoin Units & Denominations - Explained Simply | Bitcoin Chaser

Something that was confusing for me in the beginning with Bitcoin was the different denominations and their values. So I decided to post a brief explanation of how this works for anyone else who didnt follow it. Over the years, bitcoin has gone from $1 up to more than $2000 in value. These fluctuations have to do with a lot of technical hurdles that bitcoin went through, and the challenges it still faces. Nevertheless bitcoin was designed to increase in value as time goes by. That is part of the reason why it has so many units and denominations. There are essentially 3 main denominations built into the BTC currency itself: Note: these are NOT the most commonly used though. The block reward is the amount of bitcoin released when the correct equation is solved for that block. The reward amount which started at 50 BTC per block, will be halved more or less every 4 years. This means that every 210,000 blocks, the rewards will be halved. The exact time of the halving can be calculated and depends on the mining difficulty. Eventually, around the year 2140, all available bitcoin will be in circulation and there will be no new coins left to extract from mining rewards. 1 Bitcoins value is dependent on the market like any other currency. As demand increases and/or supply slows down, this value should increase. 1 Satoshi is the smallest possible piece of a Bitcoin and allows for transactions to occur that are smaller than a full coin. There are 100,000,000 Satoshis in every Bitcoin. BTC is most commonly expressed in one of three denomations: MilliBitcoin mBTC (1 thousandth of a BTC) MicroBitcoin uBTC (1 millionth of a BTC) For most purposes mBTC will be the standard unit of purchase, roughly ~20 US cents. Its small enough to be used and big enough to actually be worth something. Continue reading >>

How Many Bits Are In A Bitcoin?

How Many Bits Are In A Bitcoin?

You are at: Home How Many Bits Are in a Bitcoin? 1 bit = 1 microbitcoin = 1 BTC = 0.000001 bitcoin (BTC) The term bit is a popular new unit being used to represent smaller Bitcoin amounts. Due to the rising value of 1 bitcoin (currently 1 BTC = $450 USD), many prices must be displayed in fractional bitcoin amounts. For example, a bottle of beer might be priced at .0085 BTC. These fractional numeric values can be confusing and difficult for many people to read. The bit sub-unit (equal to 0.000001 BTC) is considered by many to be a more memorable and intuitive way of displaying Bitcoin amounts; the aforementioned beer would cost 8500 bits. Originally proposed on Bitcoin the sub-reddit , and 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 event of an extreme rise in Bitcoins exchange rate: if 1 Bitcoin was worth $100,000, then a $4.99 beer would cost 49.90 bits. Bit is an easier to remember unit when compared to other longer unit names and acronyms: 100 bits instead of 100 microbitcoins/100 BTC/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-, and centi- are more familiar to those who use the metric measurement system (i.e. everyone except Americans). 1 bit is equal to 0.000001 bitcoin. So converting a bitcoin amount to bits can be done by dividing the bitcoin amount by .000001. For instance: 42.66 bitcoins .000001 = Continue reading >>

Bitcoin Converter: Btc/mbtc/bits/satoshis/usd/eur/eth/ltc/more

Bitcoin Converter: Btc/mbtc/bits/satoshis/usd/eur/eth/ltc/more

Please let me know if you want me to add a feature or if you have any ideas for how I can improve this Bitcoin converter. The Bitcoin Converter Began with BTC and mBTC I noticed that several people found my original Bitcoin Converter when searching for a way to convert from mBTC to BTC and BTC to USD. While this is an extremely simple Bitcoin conversion, I figured Id create this BTC converter just in case someone really wanted it. So, here it is, my BTC and mBTC (and now, bits and Satoshis and USD and EUR and GBP) converter. We use the CryptoCompare Price Index for every USD, CAD, EUR, and GBP conversion. Let me know if you have any questions or suggestions for improving the Bitcoin converter. We recently added support for any Bitcoin conversion to or from bits! Bits are one millionth of one Bitcoin or one thousandth of one mBTC. A bit is the same thing as a BTC or a microbitcoin. Enjoy! You can now convert to and from US dollars with the BTC converter (in addition to Bitcoin, mBTC, and bits). This is perfect for the conversion that everyone needs: BTC to USD. The exchange rate is from CryptoCompare . This Bitcoin converter just keeps getting better! Weve added the Satoshi to the Bitcoin calculator. The Satoshi is currently the smallest unit of Bitcoin available. There are 100 million of them in one full Bitcoin. All other units (mBTC, bits, USD) are still available, so there are tons of Bitcoin conversion pairs to choose from. Satoshi to BTC? Weve got that. Want to convert from the Satoshi to USD? You can! This Bitcoin converter is now extremely versatile. We recently added support for the Euro! Now you can use this calculator to do Bitcoin conversions like BTC to EUR and EUR to BTC. You could even convert something like EUR to USD and see what the rate looks like usi Continue reading >>

I Got A Tip Of 100 Bits. How Much Is That In Usd? : Bitcoin

I Got A Tip Of 100 Bits. How Much Is That In Usd? : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Breaking It Down: Bitcoin Units Of Measurement

Breaking It Down: Bitcoin Units Of Measurement

Share your email with us to receive updates on Blockchain and the industry. Today we want to spend some time explaining tobeginners what thecommon units of bitcoin measurement are. Just like a $1 bill can be broken down into 100 pennies,bitcoin (the currency) can also be broken down and divided into smaller units. Bitcoins ability to do thisis crucial for user adoption, and for encouraging practical usage as an everyday currency alternative. Thisalso makes it easier when buying bitcoin; depending on its value at the time, it may be more affordable to buy a fraction of the digital currency here and there instead of an entire bitcoin all at once. In fact, a lot of people think they have to buy a whole bitcoin to get started, but you can buy almost any amount you want! You probablyalready knowthat the first and most common unit of measurement is a single bitcoin or 1 BTC (BTC is the commonly used acronym for bitcoin, like USD is for US Dollars). And as we mentioned earlier, a single bitcoin is divisible into smaller units. All the way down to eightdecimal places, or 0.00000001 BTC to be exact. The chart below outlines the most commonly referred-to measurements, ranging in value from the greatest (BTC) to the least(satoshi). There are more , but they are referenced much less often. The smallest unit of measurement, satoshi, is named in recognition of the creator of the Bitcoin protocol,Satoshi Nakamoto. Finney is the second smallest unit and was named after Hal Finney , one of Bitcoins first pioneers who interacted with Satoshi Nakamoto. The names for the top four units of measurement are more self-explanatory. Continue reading >>

Converter For Satoshi Bitcoin And Other Currencies

Converter For Satoshi Bitcoin And Other Currencies

You can use our website to find out how much one satoshi or bitcoin costs in all kinds of currencies, how many satoshis there are in one US Dollar, how many Euro there are in one bitcoin.The calculator can convert currencies both ways you can find out how many satoshis or bitcoins you need to buy one unit of a fiat currency, such as USD, EUR, GBP, CNY and others. Each bitcoin (1 BTC) can have a fractional part of up to 8 digits so 1 bitcoin can be divided into 100 000 000 units.Each of these bitcoin units (0.00000001 BTC) is called a satoshi. A satoshi is the smallest unit in a bitcoin.This unit is named after Satoshi Nakamoto the alias of the bitcoin creator.There are also intermediate measurement units (microbitcoins, millibitcoins, bitcents). See the complete table of units below. Continue reading >>

Bitcoin Converter (btc/bits) Into Dollar (usd) And Information - Gobitcoin.io

Bitcoin Converter (btc/bits) Into Dollar (usd) And Information - Gobitcoin.io

Bitcoin is an innovative payment network and a new kind of money GoBitcoin.io is an online converter and a source of information about this Cryptocurrency. New! Add a Bitcoin chart or current price to your website with our Bitcoin Widgets . You can convert into Bitcoin (BTC) or Bits, the two most popular scales of the moment. You can get the Bitcoin price in Euro or Dollar. (but also Real, Yuan, Pound, Rupee) It is possible to know the balance of an address by entering it in one of the fields. Continue reading >>

1 Bits != 1 Bitcoin : Bitcoin

1 Bits != 1 Bitcoin : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

How Many Bits Are In A Bitcoin?

How Many Bits Are In A Bitcoin?

Wondering how many bits are in a bitcoin? Or how many satoshis are in a bitcoin? Heres the answer. This is where things start to get really interesting And understanding this will help you to see just how valuable the thousands of bits that you can get for free TODAY really could be in the future. Each bitcoin can be divided down into 8 decimal places so each bitcoin contains 100 million units, each called a satoshi, (named after the mysterious founder of bitcoin Satoshi Nakamoto) here 1 satoshi is represented: However, more recently the unit of bits has been adopted. There are 1 million bits in every bitcoin this takes the decimal placing to only 6 spaces out of the available 8, leaving 2x 00s left over on the end, which will be used as decimals. Here one bit is represented: The measurement in bits has been created with e-commerce in mind. We are simply used to thinking in whole numbers, so rather than thinking of the price of something being 0.06 of a bitcoin, we write this price as 60,000 bits. Looking at bitcoin like this makes it much easier and more realistic to see how it will be used and how it really can go mainstream right! And right now, you can still get THOUSANDS of bits for free every day! So if you had spent a little time each day 4 years ago getting some free bitcoin using the free bitcoin faucets Im going to show you, if you acquired just $1 a day for a year then that $365 value would now be worth $182,000 Even if you are only getting small amount of $ value worth of bitcoin today, and it might seem like you have missed the boat from when the price was $1 or less, to it now being worth $600 but this is far from the truth. Please keep in mind that there is HUGE investment going into bitcoin right now (so far in 2014 there has been over $250million inves Continue reading >>

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