Bits

Bits

A basic unit of information used in computing and digital communications. A binary digit can have only one of two values, and may be physically represented with a two-state device. These state values are most commonly represented as either a 0or1.

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A proposal floated on reddit has called for bitcoin to be broken down into just one smaller unit. That would mean that a single bitcoin would be divided into 1,000,000 individual units – or ‘bits’. So, one bit would be worth 0.000001 BTC, which at recent prices would roughly amount to $.0004.

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