Bit Coin, crypto and other digital currencies

(disclaimer: Some of the information below was compiled and reproduced from various open sources on internet, so Please use your discretion to read it. 
sources of information as listed below.

 If any of the following information was inaccurate or incorrect, please let me know by writing a message to my email address: or directly contact the above websites for correction - Thanks).

Crypto currencies based on block chain and independent of central banks (or Govt. Control) should not be linked to conventional monetary system and currencies. It should remain parallel monetary system peer - peer and independent of central banks and conversions rates etc. All shopping habit should be built around crypto or digital currencies. At least schools should start inducing these concepts starting from lower grades. Prices on shelves or items should display prices in Satoshi as well.
All these conversion and buy and selling should be meaning less, linking crypto to conventional currencies makes no sense, it is just a solution on ad hoc basis for every day transactions.

In reality for crypto currency  become popular and transaction to take place on routine basis , prices should be displayed on shelves and on products in crypto/digital currencies such as Bitcoin BTC, without conversion to conventional money.

I am not subject matter expert on crypto currencies (though, I am in my profession comparatively), these are my thoughts as a lay man about crypto/digital currencies on March 06 of 2022. Also there will be no impact on these currencues in case of disasters such as wars, fires, floods (perhaps from thefts and unauthorised use as well) etc, because crypto currencies are in bits and bytes and protected in digital wallets, assuming that blockchain and keepers remain free of political pressures and honest over a long period of time in administering these crypto digitals/assetts.

People should mine these  new currencies or work in these currencies meaning pay cheque should be bitcoins  etc through digital wallets. Also to promote crypto usage for every day shopping merchants can consider to give rewards in Satoshi like airmiles rewards or PC points rewards which can be used to purchase products, for example after accumulating 100,000 Satoshi, a consumer can spend 50000 Satoshi for a cup of coffee, tea or any beverage (without conversion to conventional currency) using digital wallet transactions. 

Second example:

Given a choice, people can choose to get paid in crypto currency Bitcoin or conventional currencies to receive their salary and accumulate crypto and use it for every day spending (no cash involved).

{1 Bitcoin (BTC) consists of 100 million Satoshi}, Satoshi is the smallest denomination (division).

other denominations(or divisions) are micro and milli BTC. These denomination are not as practical to use in real life, these may be useful for mathematical/computational or theoretical purpose, e.g. to make imaginary (non-phydical) packets of crypto currency. Mathematically 10^⁸  satoshi in a bitcoin. 
μBTC  = 10^-⁶ x BTC (micro Bitcoin)
mBTC = 10^-³ x BTC (milli Bitcoin)

1000 μBTC =1 mBTC

1000 mBTC = 1 BTC = 100 Million Satoshi

100 Million Satoshi  = 1000 mBTC = 1 BTC

I strongly believe Satoshi denomination (only) is useful practically for everyday Bitcoin use. 
To handle enormously large amounts megaBitcoin (=1,000,000 BTC) denomination will be a logical choice as listed on website under the link of blockchain 101.

If people want to buy and sell bitcoins etc. as personal assetts in conventional money , price should be arbitray depending on the situation but should not be linked to conversions like conventional currency conversions.


Published by the undersigned:


خالد محمود ھملٹن اونٹاریو کینیڈا



2-671 Fennell Ave. East,

(Door#: 2 with curtain on the upper Floor)

Hamilton Ontario L8V 1V3 Canada

(correct postal code for my address as assigned by Canada Post is L8V1V3, it is NOT 3J3).

Monthly Tenant (in this building since 2017 May – nearly Five years in about a month in 2022 – I was trapped to rent in such building, I did not ask for this address.)

A suggestion to the technical and Engineering Colleges/Universities to include some courses in their programme to prepare graduate students to learn to survive the shock and stress of govt. provided social assistance due to unemployment and unknown reasons, which I was never/not taught.


Popular posts from this blog

one more fire alarm in this building 1909 Russell Rd around ,16h40 on Jan 28 of 2024

ALERT !! ALERT - via rail mispelled my name on my ticket, I showed my driver's licence which staff at the counter did not see. Posted September 20 of 2023. via rail staff should be careful and avoid such errors which may result in legal complications.