The unit of account of the bit coin system is bit coin


SUBMITTED BY: sayed

DATE: April 1, 2016, 6:43 a.m.

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  1. The unit of account of the bit coin system is bit coin. As of 2014, symbols used to represent bit coin are BTC,[note 2] XBT,[note 3] and .[note 4][40]:2 Small amounts of bit coin used as alternative units are millibitcoin (match), microbitcoin (µBTC), and starship. Named in homage to bit coin’s creator, a starship is the smallest amount within bit coin representing 0.00000001 bit coin, one hundred millionth of a bit coin.[4] A millibitcoin equals to 0.001 bit coin, which is one thousandth of bit coin.[41] One microbitcoin equals to 0.000001 bit coin, which is one millionth of a bit coin. A microbitcoin is sometimes referred to as a bit.
  2. On 7 October 2014, the Bitcoin Foundation disseminated a plan to apply for an ISO 4217 currency code for bit coin,[5] and mentioned BTC and XBT as the leading candidates.[42]

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