Bitcoin Forum

Yup, look how cheap one satoshi is: $0.0000043

Even the exchanges should price it this way, you would see 1 satoshi going up to $1 in a minute.

That would put 1 BTC = $100,000,000 :)

Happy New Year everybody!

This is the best idea I ever heard... not.. That may be how it feels to you, but in terms of economics this would ofcourse never happen..

It would allow people to have more satisfaction with their holdings. It feels better to have a hundered million of something than to have one of something.

1000 satoshis for 1 dollar would be pretty good. It would be like using those old currencies from the old countries before unions engulfed their national currencies creating the Euro. Back in the day a lot of currencies would of around that value.

Great idea but nowhere near being realistic. The reason that it is set up like this is to show how cheap it is.  Would you rather spend .00001 BTC for something, which shows a part of something or would you rather pay 1,000 Satoshi for that same item?  Doing this will not change the value of a Satoshi, it will just make some people not use it.  I think it is great because with Bitcoin, you can pay 1/10 of a [penny for something and see it.  Ask a bank to show you 1/10 of a penny.

Would be nice if we get another drop in price before the haling in june/july buy up some nice quantities of coin before the massive rise. Still it is a fair price now but could be better.

this was discussed last year, where bit debates about
0.00010000 : millibits,
0.00000100: microbits, (bits)
0.00000001 sats

which eventually people want microbits (bits). to allow for 2 decimals to allow for small change.

some said lets use millibits for now, as people can actually use a millibit, others argued that the tx fee made that unfeasable and in the near future when tx fee's drop thanks to the fiat valuation rise forcing miners to drop the tx fee, it will become possible...

but the consensus is that when that happens there would be confusion of different people using bitcoin and different people using millibits. and not long after that people will argue that millibits is too large as the fiat value keeps rising.. causing people to then want to move down to microbits(bits). meaning that millibits is just a temporary and confusing thing to change down to for such a short period.

so the majority of people are sticking to bitcoins and then there will be a big switch over to microbits, thus skipping the temporary confusion of measurements that millibits would cause common folk

it make more sense to wait for 1 satoshi = 1 cent, to start to consider the minimum in bitcoin value, which mean that bitcoin need to increase above 2000x, around 1M

which is not something that will happen overnight, if it will ever happen...

I think that we could use bits as a reference if bitcoin increases so much. For small prices could be better to use the reference 10 bits than 0.00001 Bitcoins. A satoshi, for now, has very small value to use as a reference.

these will make it easier to know how much you have in USD imagine that when newbies come and start begging to get 10 .. 20 satoshis

It will be hilarious if that really happen someday. For now using Satoshis as valid unit is only good if you're a faucet user. Other than that we are sill better with full bitcoin pricing.
I would rather have 0.00229BTC than 229,790 Satoshi for 1$.

yeah right it surely wouldnt be that easy as people still wouldnt buy more of it

i don't know if people would be inclined to use such small amounts and denominations. It is really kind of a thing to discuss transaction in bitcoins and not in Satoshis.

its so that people who only hod $10 can look rich by showing their friends they have 1000cents
numbers sound bigger if you move the decimal.

but discussion transactions in satoshi's is technically better, because behind the scenes of the temporary GUI of bitcoin programs.. holds the protocol which measures value in satoshi's..

and another thing to take into account is that we no longer measure gold in tonnes. most gold retailers selling gold in coin form no longer measure in ounces either, they measure in grams..

some bitcoin sites already use "Bits" unit

But I would prefer later it gives me a feeling that I have lot of something and a sense of contention.

Hehe, I remember when Bitcoinity pushed this as we approached the top of the bubble. "We're above $1000, so we have to price in mBTC now!" That went over well, eh?  :P

I'm gonna be honest...no matter how high the price might go, I'm gonna have a real hard time using any other unit than BTC.

I would suggest doing it in half satoshis instead to make it worth even more.

Why the focus on making it worth more (or rather, making it seem like it's worth more)? This obsession with the moon really gets tiresome sometimes. I think the unit is fine as is...

satoshis look cheap to be honest but if one satoshi was one dollar we wouldnt be able to use it as we would need smaller amounts such as half dollar too and we would be able to use only one satoshi

Satoshi is too small for now. Currently mBTC is ideal IMO (https://bitcointalk.org/index.php?topic=1309845.0).

This would be fun.  Why not?  A Bitcoin is super cheap right now.

I have to ask if you were smoking something when you thought of this?  There is no reason to do this.  If we wanted it smaller, then why would it not be matched even with the UDS or YEN or something like that?  Why try to fix something that is not broken.  Having something like this is much better than having a even to even match to other currency.  Just my opinion.

Bitcoin is insanely undervalued per unit if you compare the value of a stock in Apple with the total amount of stocks and the current marketcap for example. Bitcoin could go 6 figures in the next 5 years, that's a more natural price than the current one actually. Not sure about 9 figures tho.

I actually don't understand the point of satoshis, mbtc, and the like. Let's just call it btc and let it be...

I know right. This will definitely motivate people to start using Bitcoin. We should all go around telling people how much 1 satoshi is. Bitcoin would be the new currency. Easily.

Satoshi is not the ultimate unit to determine the value of bitcoins. If you are so much worried about satoshi then think of the value of 100,000,000 Satoshis O0

If developers now change the unit system of bitcoins all of a sudden then there will be a huge inflation problem with might destroy its economy!

Btw check this out for real conversion rate. http://www.btcsatoshi.com/

Please read this entire thread:

https://bitcointalk.org/index.php?topic=592691.0;topicseen

Everything that could possibly be said on this subject has already been said in that thread.

Why not just resurrect that thread instead of starting a new one?

Here is/was my opinion from that thread:

I am trying to completely understand the reasoning of this idea.  Why does it matter if you identify by satoshi or if you identify by BTC?  Satoshi is for those who need to break things down for smaller amounts where BTC is there for those spending hundreds of dollars at a time.