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[[File:SatoshiUsage.png|thumb|The term "satoshi" in use on a message board]]A '''satoshi''' is currently the smallest unit of the bitcoin currency usable on the [[block chain]].<ref name="se">[http://bitcoin.stackexchange.com/questions/114/what-is-a-satoshi What is a 'Satoshi'? - Bitcoin Stack Exchange]</ref> It is a one hundred millionth of a single bitcoin (0.00000001 BTC).<ref name="se"/> The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]].
[[File:SatoshiUsage.png|thumb|The term "satoshi" in use on a message board]]The '''satoshi''' is currently the smallest unit of the bitcoin currency recorded on the [[block chain]].<ref name="se">[http://bitcoin.stackexchange.com/questions/114/what-is-a-satoshi What is a 'Satoshi'? - Bitcoin Stack Exchange]</ref> It is a one hundred millionth of a single bitcoin (0.00000001 BTC).<ref name="se"/> The unit has been named in collective homage to the original creator of Bitcoin, [[Satoshi Nakamoto]].<ref name="ribuck"/>


All amounts in the block chain are denominated in satoshi before being converted for display. The source code also uses satoshi when specifying an amount of bitcoin.
All amounts in the block chain are denominated in satoshi before being converted for display.<ref>{{cite btct|title=Why 1BTC should equal 10^8 satoshi ?|date=11 October 2014|id=819656}}</ref> The source code also uses satoshi when specifying an amount of bitcoin.<ref name="nov08"/> When displaying an extremely fine fraction of a bitcoin, as in a contemporary [[faucet]], the amount is displayed in satoshi for readability.<ref>{{cite web|title=Do These "Free Bitcoin" Sites Work?|work=[[CryptoCoinsNews]]|author=Barnes, Samuel|date=9 April 2014|accessdate=19 August 2015|url=https://www.cryptocoinsnews.com/do-free-bitcoin-sites-work/}}</ref>
 
As of August 2015, 1 US cent is worth approximately 4300 satoshi.


==History==
==History==
The value of a bitcoin in satoshi was decided by Satoshi Nakamoto to be 100 million no later than November 2008.<ref>{{cite btct|id=382374|date=23 December 2013|title=Bitcoin source from November 2008.}}</ref>
The value of a bitcoin in satoshi was decided by Satoshi Nakamoto to be 100 million no later than November 2008.<ref name="nov08">{{cite btct|id=382374|date=23 December 2013|title=Bitcoin source from November 2008.}}</ref>


On November 15, 2010, [[ribuck]] proposed that the one hundredth of a bitcoin (0.01 BTC) be called a ''Satoshi''.<ref>{{cite btct|id=369|post=22160|date=14 July 2010|title=Official Bitcoin Unicode Character?}}</ref> Four months later he instead suggested that the one hundred millionth unit be called an ''austrian'' or a ''satoshi''.<ref>{{cite btct|id=3311|post=46648|date=10 February 2011|title=More divisibility required - move the decimal point}}</ref> The name ''satoshi'' caught on, and was widely adopted thereafter.<ref>{{cite btct|id=407422|post=4415850|date=9 January 2014|title=How did “satoshi” become the name of the base unit?}}</ref>
On November 15, 2010, [[ribuck]] proposed that the one hundredth of a bitcoin (0.01 BTC) be called a ''Satoshi''.<ref>{{cite btct|id=369|post=22160|date=14 July 2010|title=Official Bitcoin Unicode Character?}}</ref> Four months later he instead suggested that the one hundred millionth unit be called an ''austrian'' or a ''satoshi''.<ref>{{cite btct|id=3311|post=46648|date=10 February 2011|title=More divisibility required - move the decimal point}}</ref> The name ''satoshi'' caught on, and was widely adopted thereafter.<ref name="ribuck">{{cite btct|id=407422|post=4415850|date=9 January 2014|title=How did “satoshi” become the name of the base unit?}}</ref>


==Usage==
==Usage==
===Plural===
===Plural===
Traditionally, the plural form has been simply ''satoshi'',<ref>[https://en.bitcoin.it/w/index.php?title=Help:FAQ&diff=53369&oldid=53362 Bitcoin Wiki revision by theymos]</ref> but the term ''satoshis'' is also very prevalent. If the plural form were to follow the rules of Japanese grammar, it may be pronounced as ''satoshi'',<ref name="jj73">{{cite btct|id=289475|post=3112861|date=9 September 2013|title=satoshii}}</ref> or ''satoshisa''<ref name="jj73"/>.
Traditionally, the plural form has been simply ''satoshi'',<ref>[https://en.bitcoin.it/w/index.php?title=Help:FAQ&diff=53369&oldid=53362 Bitcoin Wiki revision by theymos]</ref> but the term ''satoshis'' is also very prevalent. If the plural form were to follow the rules of Japanese grammar, it may be pronounced as ''satoshi'',<ref name="jj73">{{cite btct|id=289475|post=3112861|date=9 September 2013|title=satoshii}}</ref> or ''satoshisa''.<ref name="jj73"/>


===Symbol===
===Symbol===
Satoshi is sometimes abbreviated to ''sat'' or ''s''.
Satoshi is sometimes abbreviated to ''sat'' or ''s'', although no symbol has been widely adopted.


The Japanese character シ ("'''shi'''") has been proposed as a potential currency symbol for the satoshi.<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015}}</ref> The Katakana symbol サ ("'''sa'''") has also been proposed, as it looks more reminiscent of a currency symbol.<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctezrh5}}</ref><ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf1j9b}}</ref> The circled shi (㋛) has been suggested to disambiguate the symbol from the character,<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/cteue94}}</ref><ref name="ryepdx">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/cteue94}}</ref><ref name="grixm"/> as it is synonymous with death.<ref name="grixm">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctfj7yo}}</ref><ref name="mokahless">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf6pvd}}</ref> Additionally, the Hiragana shi (し) is a suggestion.<ref name="mokahless"/><ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf7e09}}</ref>
The Japanese character シ ("'''shi'''") has been proposed as a potential currency symbol for the satoshi.<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015}}</ref> The Katakana symbol サ ("'''sa'''") has also been proposed, as it looks more reminiscent of a currency symbol.<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctezrh5}}</ref><ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf1j9b}}</ref> The circled shi (㋛) has been suggested to disambiguate the symbol from the character,<ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/cteue94}}</ref><ref name="ryepdx">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/cteue94}}</ref><ref name="grixm"/> as it is synonymous with death.<ref name="grixm">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctfj7yo}}</ref><ref name="mokahless">{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf6pvd}}</ref> Additionally, the Hiragana shi (し) is a suggestion.<ref name="mokahless"/><ref>{{cite reddit|r=Bitcoin|id=3egrjk|title=Satoshi symbol|date=24 July 2015|post=https://www.reddit.com/r/Bitcoin/comments/3egrjk/satoshi_symbol/ctf7e09}}</ref>

Revision as of 18:38, 19 August 2015

The term "satoshi" in use on a message board

The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain.[1] It is a one hundred millionth of a single bitcoin (0.00000001 BTC).[1] The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.[2]

All amounts in the block chain are denominated in satoshi before being converted for display.[3] The source code also uses satoshi when specifying an amount of bitcoin.[4] When displaying an extremely fine fraction of a bitcoin, as in a contemporary faucet, the amount is displayed in satoshi for readability.[5]

As of August 2015, 1 US cent is worth approximately 4300 satoshi.

History

The value of a bitcoin in satoshi was decided by Satoshi Nakamoto to be 100 million no later than November 2008.[4]

On November 15, 2010, ribuck proposed that the one hundredth of a bitcoin (0.01 BTC) be called a Satoshi.[6] Four months later he instead suggested that the one hundred millionth unit be called an austrian or a satoshi.[7] The name satoshi caught on, and was widely adopted thereafter.[2]

Usage

Plural

Traditionally, the plural form has been simply satoshi,[8] but the term satoshis is also very prevalent. If the plural form were to follow the rules of Japanese grammar, it may be pronounced as satoshi,[9] or satoshisa.[9]

Symbol

Satoshi is sometimes abbreviated to sat or s, although no symbol has been widely adopted.

The Japanese character シ ("shi") has been proposed as a potential currency symbol for the satoshi.[10] The Katakana symbol サ ("sa") has also been proposed, as it looks more reminiscent of a currency symbol.[11][12] The circled shi (㋛) has been suggested to disambiguate the symbol from the character,[13][14][15] as it is synonymous with death.[15][16] Additionally, the Hiragana shi (し) is a suggestion.[16][17]

References

  1. ↑ 1.0 1.1 What is a 'Satoshi'? - Bitcoin Stack Exchange
  2. ↑ 2.0 2.1 BitcoinTalk thread 407422. How did “satoshi” become the name of the base unit? 9 January 2014. Post 4415850.
  3. ↑ BitcoinTalk thread 819656. Why 1BTC should equal 10^8 satoshi ? 11 October 2014.
  4. ↑ 4.0 4.1 BitcoinTalk thread 382374. Bitcoin source from November 2008. 23 December 2013.
  5. ↑ Barnes, Samuel (9 April 2014). "Do These "Free Bitcoin" Sites Work?". CryptoCoinsNews. https://www.cryptocoinsnews.com/do-free-bitcoin-sites-work/. Retrieved 19 August 2015.
  6. ↑ BitcoinTalk thread 369. Official Bitcoin Unicode Character? 14 July 2010. Post 22160.
  7. ↑ BitcoinTalk thread 3311. More divisibility required - move the decimal point 10 February 2011. Post 46648.
  8. ↑ Bitcoin Wiki revision by theymos
  9. ↑ 9.0 9.1 BitcoinTalk thread 289475. satoshii 9 September 2013. Post 3112861.
  10. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. Self post.
  11. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  12. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  13. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  14. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  15. ↑ 15.0 15.1 /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  16. ↑ 16.0 16.1 /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
  17. ↑ /r/Bitcoin thread 3egrjk. Satoshi symbol 24 July 2015. This post
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