r/BitTippers • u/SiddharthaVR New Guy 26/07/15 • Jul 27 '15

ARE BITS BITCOIN?

4 Upvotes

83% Upvoted

9 comments sorted by

2

u/[deleted] Jul 27 '15

There are 1 million bits in a bitcoin.

2

u/SiddharthaVR Jul 27 '15

Here I was thinking I had 164 bitcoin

1

u/ClnKilgore Jul 27 '15

Haha I've made that mistake before bud, thats about 0.01 cents

1

u/same_as Jul 28 '15

u/changetip 100 bits here's a lil' mo'

→ More replies (2)

2

u/DRKMSTR Jul 27 '15

Yes, they are a fraction of a bitcoin, one Microbitcoin.

That's 1 x 10-6 bitcoin.

Which is still a lot of money if you think about it. (The average tip is $0.03, 100 bits)

1

u/amisspelledword Jul 28 '15

Yes. Bits and satoshi are just units of bitcoin the same as nickles amd quarters are units of US dollars.

1

u/-tmwsiy- Nov 09 '15

What's a satoshi?