Kate Posted November 19, 2018 #1 Posted November 19, 2018 Bitcoin for being too Big because to complete a whole bitcoin value we need 1.00000000 BTC so Instead of saying it as 0.0002 BTC or 0.1 BTC we use the word 20,000 Satoshi or 1,00,00,000 Satoshi which is in smaller terms and means like 1 Millionth of a Bitcoin or that many amount of BTC. And this can be used in other coins for example in Ethereum we say it as 10000 etoshi's instead of 0.0001 ETH and in Litecoin we say 100,000 Litoshi's instead of 0.001 Litecoin and etc. My main question here is if you notice in Litecoin and Ethereum the common thing is the first three words of the coin are used along with the word oshi's so why in Bitcoin is it Satoshi and not Bitoshi's ? Kind of a puzzler ain't it ? Well i mainly guess it was named after the creator of Bitcoin Satoshi Nakamoto so if you see the first word its same like Satoshi's minus the s at the end. Why not use Bitoshi's instead of Satoshi's ? Why do you think Satoshi is used rather than Bitoshi ?
jualid Posted November 19, 2018 #3 Posted November 19, 2018 He, Satoshi created the first cryptocurrency bitcoin, so i think he want name the smallest unit to satoshi
Moderator Flan Posted November 19, 2018 Moderator #4 Posted November 19, 2018 The founder of the bitcoin, Satoshi Nakamoto. Well, I don't know the whole story why it using satoshi. Maybe in my assumption, because he was the founder of bitcoin, in order to respect his work. His name used on a bits bitcoin. Anyway, it easier to pronounce Satoshi than Bitoshi, and dunno. I really like to pronouncing Satoshi, Bitoshi are really hard to pronounce to me, or maybe it because I speak satoshi more often than bitoshi?
blueprints Posted November 19, 2018 #5 Posted November 19, 2018 I do agree with your logic! It should be bitoshi but yeah like others said its because of that satoshi nakamoto.
eldrindcm Posted November 19, 2018 #6 Posted November 19, 2018 Ethoshi? Haven't heard of that. Ethereum have several names for smaller amount such as Wei, GWei, Kwei, but I don't think "Ethoshi" is one of them. I believe, the reason behind "Satoshi" is it is named after the creator of Bitcoin's Whitepaper, Satoshi Nakamoto. Most products, even places or other things are named after their founder/creator. And imo, Litecoin didn't think of that so they just copied the "oshi" But again, never heard of "Ethoshi", who came up with that unit name? 🤔
davinmark Posted November 22, 2018 #7 Posted November 22, 2018 Because the one who made BTC is Satoshi Nakamoto . Thats why they called it Satoshi
williamshennie9 Posted November 22, 2018 #8 Posted November 22, 2018 Your logic makes sense now that I think about it. It should actually be bitoshis, not satoshis. Maybe they named it like that to prevent people getting mixed up between the two, because they both start with "bit". lol
questik Posted November 29, 2018 #9 Posted November 29, 2018 Of course, the reason is the name of the Creator! Satoshi Nakamoto, I think, deserves to have his name mentioned at least in parts of bitcoin! ))
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