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When we say 1 bitcoin = satoshi, it refers to the smallest unit of Bitcoin. One Bitcoin is equal to 100,000,000 satoshis. This concept is crucial for users dealing with microtransactions and understanding the divisibility of Bitcoin.
Satoshi is named after the pseudonymous creator of Bitcoin, Satoshi Nakamoto. It allows for precise calculations and transactions without dealing with fractions of Bitcoin, making it easier for everyday use.
In summary, knowing that 1 bitcoin = satoshi helps in grasping the scalability and utility of Bitcoin as a digital currency. |
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