Home Bitcoin Renaming The Smallest Items Of Bitcoin – Bitcoin Journal

Renaming The Smallest Items Of Bitcoin – Bitcoin Journal

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This is an opinion editorial by Don McAllister, a technologist who has made several video tutorials on Bitcoin.

At its inception, bitcoin was worthless; it had no monetary value. Early adopters could mine hundreds, if not thousands of bitcoin on simple laptops. As such, there was no need to enumerate it in other units than whole bitcoin. The Bitcoin protocol was designed to accommodate smaller fractional units but there was no need to use them in the early days as tens, hundreds and even thousands of bitcoin were the norm. The first known purchase using bitcoin was 10,000 bitcoin for a couple of pizzas.

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