09 Mar What are bits on Twitch and how much are they worth?
ContentAbout BitcoinWhat if someone creates a better digital currency?What do I need to start mining? If you own a whole Bitcoin, then when Bitcoin’s price increases $1,000, if you sell at the time then you have made $1,000. However, if you only own 0.1 BTC, then you have only made a fraction of that. A common practice for people new to crypto is to calculate profit or loss from the whole dollar amount of the coin. Some people have difficulty understanding how to calculate their profit or loss if they have less than one coin. 1 satoshi is much smaller, it is one hundred millionth of a bitcoin. When we use the GDP per capita, the cost has fallen faster. Looking at the table shows that a gallon of gasoline today costs around 3 cents a gallon if measured as a "share" of the GDP per capita. This is because...