Bitcoin Could Find New Buyers If Exchanges Switch To Satoshis

Bitcoin (BTC) has become counterintuitive due to its relatively high price. One BTC is now a very unusual unit, potentially putting off new buyers. A fraction of a BTC looks counter-intuitive, and instead, using the smallest unit, the satoshi, may make buyers shell out even a few dollars.

Satoshi, named after bitcoin’s creator, Satoshi Nakamoto, is the smallest unit that may exist independently as a recorded value on the blockchain. Each BTC contains 100 million satoshis, a unit so small that it would not even pay for its own transaction. But a good round 100,000 satoshis would now cost around 80 cents.

Satoshi units are widely used in faucets, or bots that share very small pieces of BTC for viewing ads. But exchanges usually have significantly high minimum requirements for buying and withdrawing bitcoin.

One of the problems for using satoshi is that the units are too small to make a meaningful transaction. The other problem is that even cheap and intuitive altcoins have not become more appealing to buyers. Read More...


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