Wondering how many bits are in a bitcoin? Or how many satoshis are in a bitcoin? Here’s the answer.
This is where things start to get really interesting 🙂
And understanding this will help you to see just how valuable the thousands of bits that you can get for free TODAY really could be in the future.
Each bitcoin can be divided down into 8 decimal places – so each bitcoin contains 100 million units, each called a ‘satoshi’, (named after the mysterious founder of bitcoin Satoshi Nakamoto) – here 1 satoshi is represented:
However, more recently the unit of “bits” has been adopted.
There are 1 million bits in every bitcoin – this takes the decimal placing to only 6 spaces out of the available 8, leaving 2x 00s left over on the end, which will be used as decimals. Here one bit is represented:
The measurement in bits has been created with e-commerce in mind. We are simply used to thinking in whole numbers, so rather than thinking of the price of something being 0.06 of a bitcoin, we write this price as 60,000 bits.
Looking at bitcoin like this makes it much easier and more realistic to see how it will be used and how it really can go mainstream right! 😉
And right now, you can still get THOUSANDS of bits for free every day!
If you did this 4 years ago…
So if you had spent a little time each day 4 years ago getting some free bitcoin using the free bitcoin faucets I’m going to show you, if you acquired just $1 a day for a year – then that $365 value would now be worth $182,000
… yes… WOW!
Even if you are only getting small amount of $ value worth of bitcoin today, and it might seem like you have missed the boat from when the price was $1 or less, to it now being worth $600 – but this is far from the truth.
Please keep in mind that there is HUGE investment going into bitcoin right now (so far in 2014 there has been over $250million invested by venture capitalists into bitcoin startups – this is approximately the same amount as went into Internet business startups in the whole of 1994, the start of the Internet boom).
Right now you can invest in bitcoin (or get free bitcoin) BEFORE it really goes mainstream – before Wall St gets the regulation it needs to be able to trade it and offer it in ETFs and funds for investors (rumored to be coming at the end of 2014 / early 2015), before it gets implemented into mainstream banking, and before it gets really mass adopted as a payment currency online and offline (this is already well underway and new merchants are accepting bitcoin every day – including Expedia, New Egg, Overstock and Tiger Direct.
The THOUSANDS of “bits” you are getting for free right now will have real value in the future – the thought of needing to acquire a whole bitcoin will be laughable, it is the decimals, the bits which will be used.
It is right now which is the critical time to invest in, or get involved in bitcoin – or get a LOT of bits for free, while you still can!
Especially because you can do so for 30 minutes in your lunch hour instead of playing flash games, or even on your smart-phone as you sit on the toilet!
Imagine 10 years from now when bitcoin really is adopted and used in the mainstream, being able to say to people you made 100,000 bits while sitting on the toilet back in 2014 🙂
* We started this website to simply show people how to get started with bitcoin and claim some bits for free – our free ebook; How to get 100000 bits [bitcoin] is updated regularly and will show how you can get started with bitcoin, get some for free and learn as you go 🙂