3 ms·

the base unit a lot of trading is quoted in satoshis instead of "x thousandth fractions of a bitcoin"

• Slartie 9y ago
  Ehm...where is this the case? Pretty much all exchanges that I actively monitor all list their order books, trade history etc. in bitcoin, with a varying number of decimals, and they also accept orders in bitcoin denomination as well. Sometimes they offer a switch in their own trading UI to use mBTC (milli-bitcoin, a thousanth of a bitcoin) as the unit, but that is always optional and I know nobody who uses it. That being said, I also had a great laugh reading the article when it came to "200,000 satoshis". Although I totally believe her - it's hard to earn significant amounts of BTC via mining today without investing huge amounts of money and dealing with constricted ASIC supplies, so you need to have time and cash to blow at it. But she shouldn't have mentioned that number in the context of "yeah, our mining ops suddenly started to generate huge returns".
  • ringaroundthetx 9y ago
    > Ehm...where is this the case? Most of the exchanges shut down their chat rooms but thats where it is mostly said, and other real time trading arenas where people talk. People say 200k/sat while reading .000200000 btc but a satoshi also works in other quotes where other cryptocurrencies are the base unit as well. In an XMR/ETH market, the XMR would be quoted in X eth-sat or ethereum satoshis. The GUIs use a variety of different metric base units and there is no agreement on the GUIs, that has nothing to do with the terms people use in speech, as they don't say "x thousandth of a bitcoin"