One Bitcoin has 8 decimal places. The smallest fraction is called a Satoshi.
This means different things for different people. Let's see:
For a programmer, it means the total Bitcoin supply is approximately 250.89, which means it's smaller than the maximum value for a 64-bit integer (263-1), and smaller than the first integer that can't be exactly represented in a double-precision floating-point number (253 + 1), which means programming languages can deal with Bitcoin amounts without requiring custom implementations or dealing with overflowing.
Ask an economist and the answer is strikingly different: The max supply of Bitcoin with 108 base units is 2,100 trillion Satoshi. According to the World Bank, the world GDP is approximately 74 trillion. If Bitcoin is to manage economies of big scale, it must also be able to manage the global stock markets and the global real estate markets which, not including debt or derivatives, add up to a whopping $380.4 trillion. With a $380.4 trillion economy and 2,100 trillion Satoshis in existence there will always be plenty to go around.
For consumers like you, to whom value and prices are typically rounded and digits to the right of the decimal point are usually overlooked, this represents a huge paradigm shift leading to nothing more than confusion. In fact, maintaining in memory the rules that apply to decimals, and not confusing them with the rules used with whole numbers, increases the working memory demands of learning decimal arithmetic1.
Don't believe us? Try quickly, in your mind, to order 0.606, 0.0666, 0.6, 0.66 and 0.060 from smallest to largest 2 and you will quickly realize why decimal places are a threat to Bitcoin's long-term success as money or currency.
In the meantime, wallets aim to work around this issue by keeping balances displayed in fiat, more specifically US$ or Euros. However, with over 180 fiat currencies across the world it is easy to understand how this becomes a gigantic globalization and currency conversion problem for crypto users, and wallets, around the globe.
Take a consumer in Brazil as an example: at the time of this writing, the price of 1 Bitcoin was about 25159.89 real, so if you need to pay for goods or services in Brazil worth 100 real you would have to pay 0.00396985 Bitcoin, an amount not so easy to calculate, much less infer.
DoWallet not only displays balances in fiat currencies but converts cryptocurrencies to fiat and other cryptocurrencies dynamically using real time market valuations and lets you transfer with numbers you can easily understand. So whether you are in Rio de Janeiro, Tokyo, London or New York, you can just focus on what's important, not math!
So, download DoWallet today and become an expert in cryptocurrency conversion.
1 Why is learning fraction and decimal arithmetic so difficult?
2 Only about 50% of U.S. and Australian teachers answered correctly