Satoshis (SATs)
What is a SAT?
A SAT is one Satoshi, the smallest unit of Bitcoin. There is not enough Bitcoin available in the world for every person to have one whole Bitcoin. Thankfully, Bitcoin is fractionally divisible into smaller units of value. One Bitcoin equals 100,000,000 Satoshis (SATs).
What is Bitcoin?
Bitcoin is digital money you can own yourself. There's no bank, no middle man, and no one can create more of it.
The original Bitcoin white paper defines it as a digital, peer-to-peer currency that enables instantaneous transactions. Unlike payment networks like PayPal and Visa, Bitcoin transactions incur very low surcharges. The absence of an intermediary reduces waiting periods and makes Bitcoin transactions hassle-free.
Why is Bitcoin important?
Bitcoin offers beautiful solutions to some of the world's monetary problems. It is a more effective form of money and provides a pathway to a better life. To understand why Bitcoin is a better form of money, we need to be aware of the problems with our current monetary system.
The world feels like it's heading in the wrong direction -- rising costs, declining standards, and growing instability. Countries are drowning in debt and overtaxing their citizens. Inflation is on the rise. Despite working hard to lead fiscally responsible lives, most people feel a financial squeeze and struggle to make ends meet. A hamburger costs significantly more today than it did five years ago. Most forms of money are losing their purchasing power. Why is that happening?
In the video below, Joe Bryan uses a unique and engaging story to demonstrate how the root of most of our problems lies simply in the quality of our money. This video connects the dots between today's challenges and their root cause, introducing the solution: Bitcoin. Please note that this video simplifies some information to make concepts easier to understand.
God Bless Bitcoin is a powerful documentary explaining the basics of Bitcoin in a way that is easy to understand. Through in-depth conversations with Bitcoin and interfaith religious leaders, the film exposes the broken, unjust, and immoral nature of our current fiat-based money. This movie ultimately suggests ways in which Bitcoin can present alternatives to our current system that are more just, equitable, and peaceful.
Bitcoin Adoption
In recent years, Bitcoin has gained popularity, but we are still in the early phases of adoption. Trust in Bitcoin has grown faster than that of any asset in history. Its rate of growth mirrors that of the internet. For those who can, think of what the internet was like in 1995.
River.com has a great article about the recent growth of Bitcoin adoption. They published a fantastic PDF report!
Institutional investors and nation-states are increasingly viewing Bitcoin as a legitimate asset, a store of value, and a potential component of their reserves. At the time of this writing, more than 30 US states have introduced legislation to add Bitcoin asset reserves. Three states have already passed the laws to begin them. You can check the progress of such laws in the United States at this location:
Several countries are attempting to outmaneuver the United States by purchasing Bitcoin before the US does so.
Along with increasing popularity as an asset and store of value, there is growing infrastructure supporting Bitcoin's use as a medium of exchange and a unit of account. More merchants are accepting Bitcoin because the fees for processing on the Lightning network are lower than those for credit cards, and transactions settle more quickly. The COO of Steak n' Shake, a popular restaurant in the US, said they are saving more than 50% in fees. Bitcoin and Lightning wallets are plentiful in Apple and Google stores. More exchanges are popping up all over the world, enabling increasingly easier onramps into this monetary system.
In the 60-second video below, Natalie Brunell provides an example of how easy and fast Bitcoin payments can be.
What about stability? Isn't Bitcoin too volatile to be used as a medium of exchange? With wider adoption, Bitcoin will become more stable over time, as assets with larger market capitalization (the total value of all people using a particular asset) tend to exhibit less volatility in prices. When Satoshi Nakamoto introduced Bitcoin to the world, it had a tiny market cap, and $10 worth of Bitcoin fluctuated dramatically in value. Now that the asset has matured to $ 2.3 trillion, it takes longer for $10 worth of bitcoin to go up or down in value. When Bitcoin has a market cap of $50 trillion, volatility will significantly decrease, and we'll barely notice short-term value changes in small amounts of Bitcoin. It is worth remembering that, in addition to decreases in volatility, the overall value of excellent assets tends to trend upward over time.
Where can I learn about Bitcoin?
Below are a few of my favorite resources for learning about Bitcoin. There are so many excellent teachers on this subject, and not all of them are listed here. The people and websites mentioned below have access to thousands of educational materials and connections to some of the most brilliant Bitcoin experts.
Bitcoin Education
SatsVsFiat
www.satsvsfiat.comBTC Sessions
www.btcsessions.ca
youtube.com/@BTCSessions
BTC Sessions on Spotify
rumble.com/c/BTCsessions
Bitcoin University
www.bitcoinuniversity.com
youtube.com/@Bitcoin_UniversityMaple Bitcoin
youtube.com/@MapleBitcoin
Rajat's Channel: youtube.com/@rajatsonifinance
Forrest's Channel: youtube.com/@bitcoinnotcrypto
Jor's Channel: youtube.com/@88SATSradioBitcoin Katie
youtube.com/@bitcoinkatieBitcoin Journey
bitcoinjourney.caMy Favorite Thing About Bitcoin
youtube.com/@MFTABNatalie Brunell
youtube.com/@nataliebrunell
Mostly Bitcoin Mixed with Other Content
Robert Breedlove - The "What is Money?" Show (WiM)
youtube.com/@RobertBreedlove22Jerry Loves Freedom
youtube.com/@jerrylovesfreedom
The Bitcoin Gospel
youtube.com/@TheBitcoinGospel
Where can I purchase Bitcoin?
Whenever possible, it is excellent to use exchanges that offer Bitcoin only. As you will see when you begin the journey of learning about Bitcoin, you will find that it is different from and much better than other cryptocurrencies. Exchanges that offer only Bitcoin tend to have lower fees than other exchanges. The lower fees enable you to purchase more Bitcoin at a lower cost.
It is essential to verify that you can transfer Bitcoin off the exchange after purchasing it. If the exchange does not allow you to transfer Bitcoin to a self-custody wallet of your choosing, then it is not a good exchange.
Bitcoin Well
In the United States and Canada, one of the best and safest places to purchase Bitcoin is Bitcoin Well. Buy and sell Bitcoin directly with self-custody. Bitcoin and LN support ⚡️. Sign up and enable your independence at https://bitcoinwell.com/referral/peppermint
Join Bitcoin Well
River
Another wonderful Bitcoin exchange is River. You can automatically buy bitcoin through recurring buys with zero fees. Then, you can automatically withdraw this bitcoin to self-custody.
Are you stacking SATs?
"Stacking SATs" is a Bitcoin term that refers to the practice of regularly accumulating small amounts of Bitcoin.
Many people think that Bitcoin is too expensive and that they missed the boat. They wish they had purchased it when one Bitcoin was worth $5, $100, $1,000, $10,000, or $100,000. People will always feel this way. The good news is that we are still early. Less than 1% of the world's population owns Bitcoin, and its popularity will continue growing as more people learn about it.
Instead of thinking about the value of Bitcoin, it is more helpful to ponder about the value of a Satoshi, the smallest unit of Bitcoin. SATs are still accessible and enjoyably affordable. At the time of this writing, 900 SATs are worth approximately $1 US dollars.
Next, consider that the value of Bitcoin typically increases over a more extended period. I can't predict the future accurately enough to determine the exact values, but the overall trend of volatility is upward. In 5 years, 900 SATs could be worth $100. In 10 years, 900 SATs may be worth $1,000.
Therefore, the earlier you purchase Bitcoin, the more affordable it will be. The longer you wait to buy Bitcoin, the more expensive it will become over time. Then, when you own SATs, the longer you wait to sell them, the more value they will bring you.
Sharing SATs
The Lightning network is one of the quickest ways to send tiny amounts of Bitcoin at low to almost zero fees.
For Lightning payments, I recommend Speed Wallet. You can find it in the Apple App Store and Google Play Store. Or, you can install it as an Extension on the Chrome browser.
Use my referral code 4BXY7Y or simply click the link below to get started. Make your first transaction of 1000 SATS / 1 USDT or more, and you can earn 500 SATs cashback! Enjoy a seamless payment experience:
Support The Mission
You and I can change the world with SATs and make it a more beautiful place! If you would like to support my endeavors and buy me a cup of coffee, I would be grateful.
Bitcoin Lightning Address
My Lightning address on Speed Wallet is starcat (at) speed.net . Or, you scan the QR code below.
