The media believes that prices in bitcoins can be converted into bits

One of the guest authors of the major cryptocurrency publication Bitcoin Magazine, Don McAllister, shared his opinion on the best option for valuing goods in bitcoins. The guest author suggested that if all price tags are converted to bits, and not bitcoins, then in this case, the calculations can be carried out in a much more convenient way.

McAlister noted that earlier, when users could easily own thousands of bitcoins, few people thought that there were smaller values for designating the main cryptocurrency in smaller proportions: bits and satoshi. However, the growth of the cryptocurrency to colossal proportions forces almost all beginners to turn to the terminology to correctly mark these small fractions of bitcoin, called bits or satoshis.

Don McAllister gave the following example. If 1 bitcoin equates to 100,000,000 satoshis or 1,000,000 bits, then a product in a store that costs 0.00030000 bitcoins can be equated to 30,000 satoshis, which, according to McAllister, is not very convenient. If 100 satoshis are equivalent to 1 bit, then in this case the cost of this refrigerator can be estimated not at 30,000 satoshis or, even more inconveniently, 0.00030000 bitcoins, but at 300 bits. Such a system can be very convenient and understandable.

10 hours ago, the main cryptocurrency began its next downward movement. In 4 hours, Bitcoin went from $16,586 to $16,095, after which it corrected slightly. At the time of writing, one BTC is valued at $16,207. The capitalization of bitcoin exceeds $311,000,000,000, and the level of trading carried out by traders over the past day amounted to almost $25,000,000,000.

Earlier, we talked about the fact that the authorities of El Salvador created the National Bitcoin Office in their country. If you missed this material, you can look by clicking on the link .