How Many Satoshis in a Bitcoin?

How many Satoshis are in a Bitcoin?

There are 100 million Satoshis in 1 Bitcoin. That’s a huge number! If someday each Bitcoin is worth 1 million dollars then each Satoshi will be worth 1 penny.

Why are the smallest bits of a Bitcoin called a Satoshi?

Satoshis are named in honor of the creator of Bitcoin who used a code name of “Satoshi Nakamoto”. Nobody knows who that person (or people?) were.

How many Bitcoin does Satoshi Nakamoto have?

We can’t know for sure since Bitcoin addresses don’t have names on them. The best guess is that Satoshi Nakamoto has about 1 million Bitcoins. No one knows if those Bitcoins could be moved or spent. It is possible that Satoshi threw away the keys to those coins or is simply waiting until a future date to do something with them.

Why have so many Satoshis per Bitcoin?

There are a few reasons why it can be useful.

• Being able to divide Bitcoins into very small pieces supports the possibility of micro-transactions on the internet. A micro-transaction could be something smaller than a single penny. The idea is that fees could be super cheap and therefore tiny transfers of money could be made enabling new models. For this to work requires a network like the Lightning Network to keep transactions fees low.
• In the event that Bitcoin becomes a huge success then a single Satoshi might someday be enough to do interesting things. It’s easy to drop extra zeroes at the end of a price if they don’t matter but tricky to add them in later if they are needed.