Ever since Bitcoin was created, subunits of the currency have been created as well. While there may be some confusion over the naming process, there are four general terms that seem to come back every time. Bitcoin, Satoshi, bit, and mBTC. But how do you calculate these subunits precisely? A new iOS Bitcoin Calculator app may hold the answer.
Not every mobile app in the world has to be overly complicated. Especially when that app has something to do with Bitcoin, as the concept is already difficult enough to understand for most consumers. Bitkoin, while a calculator and price ticker in one, also has an educational appeal regarding the Bitcoin ecosystem.
Everyone is well aware of how there will only be 21 million Bitcoin in existence. That limit is expected to be reached by 2140, which is still a long way from today. Many people have been wondering about how the world can embrace Bitcoin if there are far more humans than Bitcoins to go around.
What these people tend to overlook – or perhaps just not know – is how every Bitcoin is divisible by up to eight places after the decimal. The smallest unit of Bitcoin is called a Satoshi, named after its infamous creator. Bitkoin will tell people their exact Bitcoin balance in these subunits, ranging from Satoshi to bits and mBTC.
At the same time, the app will also provide the current value of that Bitcoin amount, translated into fiat currency prices. For example, one full Bitcoin is around US$598right now, whereas one Satoshi is worth US$0.000005982. This makes a lot more sense when thinking of Bitcoin as a way to conduct micropayments.
On the surface, this mobile app may not seem overly spectacular, because it isn’t. However, it is good to see such lightweight apps provide interesting facts about Bitcoin without trying t overburden users with information. Moreover, Bitkoin is free to download, and it may have a specific appeal to some users.
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