More Examples
“One bit is one-millionth of a bitcoin.”
“Here’s the 20 bits I owe you.”
“A bit in the wallet is worth two in the exchange.”
Definition(s) from the Web
- Bit is a common unit used to designate a sub-unit of a bitcoin – 1,000,000 bits is equal to 1 bitcoin (BTC). This unit is usually more convenient for pricing tips, goods and services. Source
- Some people advocate the term bit to refer to one microbitcoin (a millionth of a bitcoin). Many people think this term is confusing. Source
- The unit of account of the bitcoin system is a bitcoin. Ticker symbols used to represent bitcoin are BTC[b] and XBT. Its Unicode character is ₿. Small amounts of bitcoin used as alternative units are millibitcoin (mBTC), and satoshi (sat). Named in homage to bitcoin’s creator, a satoshi is the smallest amount within bitcoin representing 1⁄100000000 bitcoins, one hundred millionth of a bitcoin. A millibitcoin equals 1⁄1000 bitcoins; one thousandth of a bitcoin or 100,000 satoshis. Source
