Hi there,

How  is everyone doing?

Please please, when you respond, dumb down your explanation using layman's terms. Math is not my forte unless it's simple basic math (add/subtract/multiply/division).

So I just recently started with the faucets, & all of the sites give you satoshi, but one site pays out in bits.

Questions:

1. What is the difference between a satoshi & a bit?
2. How many satoshies do I need to get $1 or $1 bitcoin? Is there some sort of easy mathematical equation you can give me?
3. I'm guessing bits are worth less than satoshies, but I could be wrong. I know that 60k bits equals a measly penny.
4. What is the plural of sathoshi btw?

Thanks a ton


Michelle