RE:How would a person use bitcoin to pay for anything?Bitcoin itself has a finite number but can be divided up or was small in the first place before converting for display into BTC.
Satoshi (unit)
The satoshi is currently the smallest unit of the bitcoin currency recorded on the block chain.[1] It is a one hundred millionth of a single bitcoin (0.00000001 BTC).[1] The unit has been named in collective homage to the original creator of Bitcoin, Satoshi Nakamoto.[2] All amounts in the block chain are denominated in satoshi before being converted for display.[3] The source code also uses satoshi when specifying an amount of bitcoin.[4] When displaying an extremely fine fraction of a bitcoin, such as when calculating fee per byte or a faucet reward, the amount is displayed in satoshi for readability.[5][6]
Although the satoshi is the finest amount that can be recorded in the block chain,[3] payment channels may need to make very granular payments and so are sometimes denominated in millisatoshi, which are one hundred billionths of a single bitcoin.[7]
pecuniam wrote: If one is valued at $50,000?
Would I buy a pair of shoes with 0.00011 of a bitcoin? How do you keep track of that?!
Or is it going to just be a currency for the uber rich? ie. I'll give you 5 bitcoins for that ferrari or here's 10 bitcoins for that Manhatten apartment?
Just trying to make sense of it all.