Though the actual exchange rate in Venezuela is difficult to verify, there are several resources available which may help one get a better idea of the actual bitcoin to bolivar conversion. Unlike physical money or digital fiat, a bitcoin can be divided into much smaller fractions. Key Takeaways A satoshi is the smallest unit of a bitcoin, equivalent to millionth of a bitcoin. The satoshi unit is named after Satoshi Nakamoto, the anonymous person or persons that published a white paper in that jumpstarted the development of the bitcoin cryptocurrency. I accept I decline. The problem — that a digital currency or token can be used in more than one transaction — is not found in physical currencies, as a physical bill or coin can, by its nature, only exist in one place at a single time. At current prices, that makes one Satoshi equal to one-hundredth of a penny.