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> Find Bitcoin-Friendly Coffee Shops – We Need Submissions I'll bite: If i own a bitcoin, evaluated today at, let's say, 100 k$, and then pay with it for a cof
by hulitu 1y ago
> Find Bitcoin-Friendly Coffee Shops – We Need Submissions
I'll bite: If i own a bitcoin, evaluated today at, let's say, 100 k$, and then pay with it for a coffee, how much bitcoin will i have left ? Do they give change ?
- dpark 1y agoNo change. A latte costs $100k if you pay with bitcoin.
- rkomorn 1y agoIf this is a serious question... you'll pay a (small) fraction of a bitcoin, just like you'd pay a fraction (or some units and a fraction) of whatever currency. Just as when you pay with a card or online, you just pay the amount. There's no change.
- walletdrainer 1y agoTechnically you’d transfer a larger chunk of bitcoin and receive change
- rkomorn 1y agoTechnically how? In a way that isn't abstract to either parties in the transaction?
- landgenoot 1y agoBasically you split your bitcoin and send one part to the recipient and one part back to yourself.
- hulitu 1y agoBasically, that is my question: What is the lowest bit of a bitcoin ? For Euro, or other curency is 1/100 aka cent.
- rkomorn 1y ago1 sat (Satoshi) is 1/100000000 bitcoin, so at the moment it's around 0,001 euro. And then you get millisatoshis that can be used on the lightning network, but I've not dealt with that directly myself.
- cranberryturkey 1y agobitcoin is divisible to 1M places.
- cranberryturkey 1y agowith lightning you can send a satoshi.
- littlecranky67 1y agoyou can even send millisatoshis (but depends on the node configuration, often it is declined). But lightning nodes do take milisats as fees.
- immibis 1y agoSo divisible to $0.10, and if it goes to the moon like hodlers insist, divisible to $1, then $10, then $100, then $1000.
- cranberryturkey 1y agoNo one hundred millionth of a bitcoin
- slau 1y agoIf one bitcoin is worth $10 million then 1 millionth of a bitcoin is still $10.
- littlecranky67 1y agoThere is no problem with that, as Bitcoin itself will never reach the transaction volume of regular cash - it couldn't even handle that given the number of transactions (nor does it make sense to store your coffee payment on any given day for a lifetime in the blockchain). Thats where layer 2 solution such as Lightning come into play - for everyday, more privacy-friendly smaller transactions that are not put on the blockchain. And on Layer 2, you can go even smaller in denominations.