Bite #7: Understanding Satoshis — The Building Blocks of Bitcoin

👋 Hello, Bitcoin Enthusiast!

Today’s topic is all about Satoshis! Let’s break it down in simple terms so you can understand why it’s important and how it relates to Bitcoin.

🔍 What is a Satoshi? 

A Satoshi is the smallest unit of Bitcoin, named after Bitcoin's mysterious creator, Satoshi Nakamoto. Just like how cents are to dollars, Satoshis are to Bitcoin. One Bitcoin equals 100 million Satoshis!

💡 Why does it matter? 

Satoshis make Bitcoin more accessible to everyone. You don’t need to buy a whole Bitcoin to get started—thanks to Satoshis, you can buy a tiny fraction of a Bitcoin with just a few cents. This is especially important as the price of Bitcoin rises, making it easier for people to own and use Bitcoin without needing to invest a large sum of money.

⚙️ How does it work? 

Bitcoin is divisible up to eight decimal places, meaning that you can send and receive tiny amounts—down to one Satoshi. When you make a transaction, whether it's a small payment or a large one, Bitcoin is measured in Satoshis to keep things precise and manageable.