your friend could easily run off with your coins and you might not see them again. Bitcoin is censorship resistant money. Bitcoin tries to accomplish this function by being divisible down to the 8 decimal place. 4, when displaying an extremely fine fraction of a bitcoin, such as when calculating fee per byte or a faucet reward, the amount is displayed in satoshi for readability. Note: Bitcoin with a capital B references, bitcoin the network or, bitcoin the payment system; bitcoin with a lowercase b references bitcoin as a currency or bitcoin the currency unit.
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Bitcoins are scarce and useful. Below is a list of the named denominations and their value in BTC. The satoshi represents one hundred millionth of a bitcoin. As new gold is mined, there is always less and less gold left and it becomes harder and more expensive to find and mine. CoinDesks price index is a good resource. Bitcoin is global and not affected bitcoin mining rates by any single countrys financial situation or stability. BTC The existing bitcoin code BTC, used by the large majority of the bitcoiners and most media channels, would not comply with ISO 4217, which requires the 1st letter of global commodities to. Note that this character is extremely common in Japanese, so it could cause confusion. This is an adequate thing, given the actual high price of 1, bitcoin theses days. Bitcoins should only be kept in wallets that you control. There will eventually be only 21 million bitcoins in circulation and not one more.
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