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If one bitcoin is some encrypted id or whatever how can I transfer 0.00000001 of them to someone else?
by brenfrow 14y ago
If one bitcoin is some encrypted id or whatever how can I transfer 0.00000001 of them to someone else?
- speeder 14y agoThere are no such thing as "one bitcoin". Bitcoin is a protocol actually, that store numbers in a peer to peer ledger, what you do is change the values on the ledger, and the encryption is only to ensure the transaction was not a forgery. Right now the protocol supports as the smallest one the "satoshi", but a "satoshi" is too small, so people for day to day use "BTC". 0.00000001 of a BTC is a satoshi. But if Bitcoin really gets used in the mainstream, BTC might be valued in the millions, thus the protocol can be more or less easily changed to use a unit smaller than the satoshi.
- brenfrow 14y agoGreat... this really helps a lot. Now I finally understand.