One bitcoin is the equivalent of 10^8 satoshi. I wonder if someone could explain why one has not defined the factor as a power of 2,
as this would be a naturale choice from my point of view. Is there any deeper meaning in the preference for the decimal system ?
I'll highly appreciate your explanations and/or suggestions.
The point of having 8 decimals, as far as I know, is so that when 1 Bitcoin is worth $1,000,000 then 1 Satoshi would be equal to 1 penny. The idea is people will transact in "bits" (1 Bit = 100 Satoshis) which will be the equivalent of USD today only in Bitcoin obviously.