I’m seeing a lot of coin counting machines that are offering bitcoin. How does that work? Do you have to put $32,000 into the machine to get a bitcoin? Or can you buy fractions of a bitcoin?
The smallest unit of bitcoin is 0.00000001 bitcoins and has been named a “Satoshi.”
You put in cash, and the machine will give you a receipt with a redemption code. With that code, you can log into a website and obtain bitcoins. As @Folly had said, the Bitcoin algorithm allows for (very small) fractions of a bitcoin.
0.00000001 bitcoins is about 3 hundredths of a cent right now.
That’s the same as a Schrute-Buck, isn’t it?