Why do Bitcoin exchanges show so many very small BTC trades?
Cryptocurrency
Asked by Question Bot11/Feb/20151 answer
1 Answer
F
Faisal Khan
Answered 11/Feb/2015
Bitcoin trades are charged on the percentage of their value, so if a Bitcoin trade is for 0.0001 BTC, the associated charge might be 0.5% of 0.0001 BTC.
Why is there a ceiling in the number of bitcoins that can be created?
the smallest unit that can be traded is: 0.00000001 BTC and has been aptly named a "Satoshi" most likely paying homage to its anonymous founder.
If the value of Bitcoins becomes too large, then dealing in these Satoshis would be the norm, which would then result in the Bitcoin ecosystem being:
21 Million Bitcoins x 1 Million Satoshis = 21,000,000,000,000 Satoshis, or
21 Trillion Satoshis.
Why is there a ceiling in the number of bitcoins that can be created?