For years we've heard questions like:
- "How do I pay in 1 bitcoin"
- "What if I don't want to pay a whole bitcoin for something"
- "How does £10 look in Bitcoin"
- "Are bitcoins divisible"
This is where we need to help educate users on Bitcoin and cryptocurrencies in general, the smallest unit of a bitcoin is a 'Satoshi', its equivalent to 100 millionth of a bitcoin. The Satoshi was named after the founder, or founders, of bitcoin, known as Satoshi Nakamoto.
In terms of why understanding Satoshis is important is that Bitcoin is limited to 21 millions 'coins' however if this is broken down into Satoshis then in total they'll be no more than 2.1 quadrillion satoshis in the world!
Yes, that's a lot and think what if 1 Satoshi was worth £1 then when (and yes 'when') crypto becomes main stream then we'll be exchanging (and seeing) goods for 'Satoshis' not 'Bitcoin'. It is simpler to see a transaction like: A 12" Pizza for 28357 Satoshis than a 12" Pizza for 0.00028357 Bitcoin.
We have created some Satoshi calculators so you can get an idea of what £ (GBP) looks like converted into Satoshis ---> http://satoshicalc.org
We have also created a calculator to show what a Slice of Pizza would currently cost in Satoshis: SlicesForSats.org - Don't want your Pizza in 12 slices? Check out our Pizza Slicer page: https://slicesforsats.org/index3.html