1 satoshi

2016-05-27 00:00:00

When getting acquainted with cryptocurrency, the user has to learn a lot of new information. What is mining, how cryptocurrency exchanges function, which bitcoin faucets to use, how much does 1 satoshi cost in dollars or other currencies. And this is a small piece of information that needs to be mastered. More and more people are plunging into the wonderful world of virtual coins and ways to mine or earn it. The number of the planets inhabitants who have appreciated the possibilities of an alternative currency is growing by leaps and bounds.

Cryptocurrency is an unusual digital money. The process of creation and distribution is fundamentally different from the known fiduciary currencies. Interest in Bitcoin is growing daily, as is the number of investors who have decided to invest their money in an alternative currency. This is the safest investment today. At least, supporters of cryptocurrencies and Bitcoin in particular think so.

Experienced collectors of cryptocurrency on Bitcoin faucets know how much 1 satoshi is calculated for another currency. It is more difficult for beginners, but they also adapt over time to the unusual gradation of digital money. After a month of daily work with Bitcoins, the user can instantly transfer a certain number of Satoshi to another currency and vice versa.

 

How to calculate the cost of 1 satoshi

1 satoshi is the minimum monetary unit, a structural element of virtual coins, the value of which directly depends on the price of Bitcoin. The number of Satoshi in Bitcoin is 100 million. It is difficult to imagine such numbers at first, but adaptation is quick. The question is: why was it necessary to split Bitcoin into 100 million pieces (satoshi)? Why not use the standard 1 in 100 system? As it turned out, there are reasons.

Satoshi Nakamoto, the alleged creator of the cryptocurrency mining algorithm, apparently assumed that the price of one Bitcoin would be high and decided to split it into 100 million pieces (satoshi) for the convenience of currency transactions. And he turned out to be right, since today the price of one Bitcoin is hovering around $ 450. Moreover, the system created by Nakamoto fits perfectly into the forecasts of financial analysts that Bitcoin will rise in price. Based on this information, a similar amount of Satoshi is justified. After all, it is difficult, unrealistic and unnecessary to use a whole coin for ordinary everyday settlements.

So, what is the algorithm to calculate how much is 1 satoshi in dollars? This is actually quite simple to do. Lets take todays bitcoin rate - $ 450 and try to figure out the price of one satoshi. On the Internet, 1 satoshi in relation to Bitcoin is denoted as seven zeros after the decimal point and one (0.00000001). That is, one hundred millionth part of Bitcoin. We take into account the current rate of $ 450 for today, divide this amount by 100 million and get the cost of one satoshi. Based on the entered data and the calculation made, we got the amount - $ 0.0000045. By the same analogy, large amounts are calculated: 1 thousand satoshi = $ 0.0045; 1 million satoshi = $ 4.5 and so on. If the Bitcoin rate rises, then using the above algorithm, you can easily find out how much 1 satoshi is based on the current rate.

Of course, you can simplify the recalculation process by using an online calculator. There are many resources on the Internet that offer this service. But it is not suitable for traders on cryptocurrency exchanges. The bitcoin rate, albeit not much, but fluctuates, and you can only keep track of the minimal changes by making calculations manually. For example, at this minute one exchanger offers the Bitcoin to dollar rate - 1 to 435.38 $, and an hour later the cost increased to 437.699 $. And in this case, it does not matter if there is 1 Satoshi in the account or 100 Bitcoins, traders profit from such fluctuations. Sites offering online cryptocurrency calculators update the rate once a day, this is at best.

 

Is Satoshi worth earning and how to do it?

In 2009, $ 0.003 was offered for a thousand Bitcoins. At that time, few believed that cryptocurrency had at least some kind of future, but a year later, the price increased thousands of times and they were already ready to pay 50 cents for one Bitcoin. A year later, they gave $ 10, and in 2013 the cost of one Bitcoin exceeded $ 600. Why such a chronology of events? How much was 1 satoshi against the dollar in 2009? Its even hard to count. But four years later, the price of the same 1 satoshi rose to $ 0.000006. If you make a calculation in Bitcoins, then you can only guess how much money investors who bought Bitcoins in 2009 and sold them in 2013 managed to get.

If you follow the logic and assume that the cryptocurrency rate will continue to grow, then the production of satoshi today can turn you into a millionaire in a few years. Moreover, today it is not difficult to earn satoshi. It is enough to register on several Bitcoin faucets, create a wallet for the digital currency and collect a certain amount of Satoshi at short intervals. Some users manage to collect from 100 to 300 thousand satoshi per day. How much is 1 satoshi today? Its only $ 0.0000045, but if the price of Bitcoin continues to rise further, then mining Satoshi is not such a bad idea that will help you earn decent capital in a short period of time.

Another question is, is it worth investing real money in cryptocurrency? The answer may seem a little unexpected, but everyone decides for himself. The main thing is not to rush to the first ad that comes across that promises instant enrichment. Study the market, read reviews about trading platforms or miners, follow the course, read the latest information about Bitcoin, take into account the forecasts of financial analysts. Investing always carries the risk of losing your investment.

Investing your time

Not everyone is willing to invest, even if the risk of losing money is minimal. The current situation in the cryptocurrency market allows users to invest their time in the future without sacrificing almost anything. The algorithm of actions is simple: we open a Bitcoin wallet, register at several faucets for the extraction of cryptocurrency, and during the day we go to sites to collect satoshi. This can be done while working in the office or using your smartphone on the way home. The collection process does not take much time, 3-5 minutes will be enough. And a day you can collect not 1 satoshi, but several thousand. It turns out that you risk nothing and get the opportunity to accumulate cryptocurrency on a Bitcoin wallet.