ADSactly Crypto: A Break Down Of Bitcoin Value
Believe it or not but there was a time not too long ago where Bitcoins were a dime a dozen, no letterly, you could even get like thousands for a dime. While most of us never knew about them back then or did but didn't pay attention to Bitcoin, it kept gaining value.
- As Bitcoins were lost over time
- As the cost of mining grew
- As the demand for an alternative store of value surged and
- As an investment in blockchain technology started to trickle in.
This little digital coins began to increase in value. Now the time of owning a single Bitcoin is becoming harder and harder and out of the hands of many of the world's population.
Image source: - coinsutra.com
Whole or a piece or a whole piece?
Bitcoin is currently seen as an investment to most who are new to the space and want to take advantage of its consistent increase in value over time. While many would like to own 1 BTC, many feel discouraged because they cannot hold a full BTC and do not invest.
A misunderstanding many new cryptocurrency investors have often make a mistake to avoid BTC when deciding to invest. They prefer the idea of holding a whole of another token then a piece of BTC.
Due to the psychologically of wanting to own a whole of something makes alt coins attractive to invest in for new investors. The idea of getting a whole coin or several tokens for a few dollars worth of investment plays in our minds.
Bitcoin breakdown
A bitcoin can be broken down into many pieces up to eight decimals after the comma with the smallest unit of value being a Satoshi. Every Satoshi you own has the same characteristics as a full Bitcoin and will increase relatively in buying power along with the price measured in a total BTC.
The ability to break down Bitcoin into smaller parts means anyone can invest and own an amount of Bitcoin they are comfortable with investing, using or HODLing.
Here is a break down of the accessible units of Bitcoin.
| Abbreviation | Name | Unit In BTC |
|---|---|---|
| BTC | Bitcoin | 1.0 BTC |
| mBTC | Millibitcoin | 0.001 BTC |
| µBTC | Microbitcoin | 0.000001 BTC |
| SAT | Satoshi | 0.00000001 BTC |
Which means you don't have to own a BTC outright you can hold various pieces of them and add them together over time. It's a very accommodating system that aims to help all of us get involved.
It doesn't stop there
While the Satoshi is the smallest value on the BTC network, it is not the lowest overall. As the introduction of the lightning network begins to grow with new nodes being added each week.
Bitcoin now has a second-layer solution for solving transactions that are faster and doesn't require the mainchain to secure the transactions allowing the network to confirm transactions in milli-satoshis, which is literally a thousandth of a satoshi.
Own a Bit
Do you own a small portion of BTC? How much do you own? Would you consider buying a small part?
Previous ADSactly Crypto posts
- ADSactly Crypto: How Many Bitcoin's Have Already Been Lost Forever?
- ADSactly Crypto: How Bitcoin Transaction Costs Work
- ADSactly Crypto: What Is the Bitcoin Halving?
- ADSactly Crypto: What Is A Bitcoin Paper Wallet
- ADSactly Crypto: The Importance of Private Keys
- ADSactly Crypto: How Bitcoin Futures Could Affect The Future Of Bitcoin
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I just keep buying a bit every month, then that gets sent to the celsius app and gets me 6% interest on top...
adding up those satoshis
That's a smart move or at least I think so since I've been doing pretty much the same. I haven't used the celsius app but im using crypto.com will try out the celsius app soon. Keep stacking those sats!!
I wish I had even a few satoshis, but I don't even have that. :( For some Venezuelans, investing can be very difficult, even if it is in thousandths of a BTC, especially because every coin that enters our wallet, we must use it to buy food. Either we choose to invest or starve. Hopefully our reality will change soon and we will be able to have even one BTC. I would be happy with that. hahaha. Greetings, @
I understand not everyone has the luxury to sit on the money they earn, but I think that over time every Satoshi you can spare will be worth it in the long run. Putting aside a few dollars for the future can make all the difference. I'm pretty sure we'd all love to have 1 BTC worth one day :) I know I would
That’s so true about not being able to hold a whole token. I feel the same way. Perhaps maybe I should get a little BTC now after reading this. While I do hold STEEM, sadly it doesn’t hold much value right now 😥 @untersatz curate 50
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Which makes it all the more important to own a few cryptos instead of being all-in on one. Owning a little bit of BTC or ETH I feel you can't go wrong they are still the entry points into crypto and there will always be value flowing through it. My portfolio is mostly BTC
The @untersatz witness and manual curation is under the guidance of @contrabourdon and @organduo.
I think btc price will grow up soon
Posted using Partiko Android
We will see once the halving comes into play. I honestly don't want it to go up, I still want to pick up as much as I can below 10k
I want it to drop down as it was 10 years ago and then grow up as it is today hahha
I would love for that to happen so I could catch that upswing. I have been investing in other alt coins I feel would have a similar trend in the future and holding out for that
can I ask in which alt coins do you invest?
I've invested in ETH, NULS, LTC, DENT, KCS, ADA, TRON and MCO
I see. I invested in some of them too..maybe i should check others as well :)
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Do you have any I should be looking at that you've already invested in?
@adsactly, I am all in to just Steem only and through Steem i got to know about the Cryptocurrency Space. I am really bullish about Steem and hoping that it will come up with great Shape in future. Stay blessed.
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You can be bullish on steem, I am too but it doesn't mean you should keep all your eggs in one basket especially in a space where there is so much volatility. Every small investment counts, so it could be a few bucks in buying BTC or selling some of your steem for BTC and keeping it in a hot wallet just to get familiar with it before you park it in cold storage
Yes brother. I will definitely consider this advice. Thank you so much and stay blessed.
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I appreciate your information, @chekohler. My culture is very reduced in the universe of crypto coins. I didn't know that subdivision of the BTC. Although it is very difficult for an ordinary Venezuelan like me, I do not rule out the possibility of being able to access at some point gradually, from its smallest unit. Greetings.
I'm glad you found the information helpful. Yes I can imagine you guys are going through tough times and any spare money needs to go to basic services but education is still important and knowing about opportunities allows you to take them when you have the chance. Education is key to improving your life
Hi, @adsactly!
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