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It is as significant as dollars breaking down into pennies. It allows for finer control in deals where the currency is the unit of account.
by hcal 13y ago
It is as significant as dollars breaking down into pennies. It allows for finer control in deals where the currency is the unit of account.
- deanclatworthy 13y agoBut that's where it ends. Correct me if I'm wrong but pennies and cents can't be broken down any further. Bitcoins can be broken down significantly: 1 BTC = 100,000,000 Satoshis 1 BTC = 1000 mBTC (millibitcoin) 1 mBTC = 100,000 Satoshis 1 μBTC (microbitcoin) = 100 Satoshis So if you think of it like this, it can be divided far more than 21million times.
- jafaku 13y agoPennies can and are broken down further all the time. There's a reason the "Money" design pattern exists. http://martinfowler.com/eaaCatalog/money.html http://martinfowler.com/eaaCatalog/money.html Besides, what's your point? If you break down any amount of money in two, each part is worth half what the whole thing was worth. Many people get confused by this, and I honestly don't know why.
- maxerickson 13y agoIt's just more or less pointless to worry about dividing a penny during a transaction. Private parties can certainly agree to prices that are a fraction of a penny (but they instead tend to deal in lots at those price points).