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Title: The satoshi: now the second-lowest currency denomination Post by: dree12 on November 16, 2013, 04:53:13 PM Recently, the satoshi exceeded 0.01 Uzbekistani som in value.[1] (#post_ref_0)
Why is this important? 0.01 Uzbekistani som is a Uzbekistani tiyin, which is the least valuable currency denomination used in the world.[2] (#post_ref_1) The satoshi was originally designed to be small enough that even if Bitcoin blew up, people could transact well. At today's prices, the satoshi is finally a reasonable smallest denomination, reaching the levels of one government smallest denomination. Luckily, this is not a problem. More decimal places can easily be added in the future. In fact, there is room for 3 more decimal places yet![3] (#post_ref_2) The next target is the Burmese pya. We are around halfway there at current rates. References
Title: Re: The satoshi: now the second-lowest currency denomination Post by: safeminer on November 16, 2013, 05:01:19 PM ;D hehe great news, lets wait for the 1 satoshi / 0.01 usd ;D ;D
Title: Re: The satoshi: now the second-lowest currency denomination Post by: Alty on November 16, 2013, 05:08:52 PM Fun fact of the day! ;D
It's going to be interesting to watch how one Satoshi climbs the ranks of currency denominations as Btc price climbs. Title: Re: The satoshi: now the second-lowest currency denomination Post by: alexeft on November 16, 2013, 05:35:47 PM Recently, the satoshi exceeded 0.01 Uzbekistani som in value.[1] (#post_ref_0) Why is this important? 0.01 Uzbekistani som is a Uzbekistani tiyin, which is the least valuable currency denomination used in the world.[2] (#post_ref_1) The satoshi was originally designed to be small enough that even if Bitcoin blew up, people could transact well. At today's prices, the satoshi is finally a reasonable smallest denomination, reaching the levels of one government smallest denomination. Luckily, this is not a problem. More decimal places can easily be added in the future. In fact, there is room for 3 more decimal places yet![3] (#post_ref_2) The next target is the Burmese pya. We are around halfway there at current rates. References
Great! Nice to know! Thanks! :) Title: Re: The satoshi: now the second-lowest currency denomination Post by: NUFCrichard on November 16, 2013, 05:38:14 PM Come on bitcoin, put that Burmese pya in its place!
Title: Re: The satoshi: now the second-lowest currency denomination Post by: Casino Gambling Guy on November 16, 2013, 05:41:29 PM Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent.
Title: Re: The satoshi: now the second-lowest currency denomination Post by: Casino Gambling Guy on November 16, 2013, 05:57:16 PM Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent. One million dollars Ha ha, thanks. I'm picturing you imitating Mike Myers from Austin Powers while saying that ;D Title: Re: The satoshi: now the second-lowest currency denomination Post by: lucaspm98 on November 16, 2013, 08:34:29 PM Great news! One day it will be worth more than the lowest denomination of every currency!
Title: Re: The satoshi: now the second-lowest currency denomination Post by: marcotheminer on November 17, 2013, 01:35:57 AM Woooo thats awesome. It wont reach 0.01 usd i think
Title: Re: The satoshi: now the second-lowest currency denomination Post by: ruletheworld on November 17, 2013, 01:49:04 AM Remarkable.
Why isn't the media all over this :o Title: Re: The satoshi: now the second-lowest currency denomination Post by: torusJKL on November 17, 2013, 06:47:50 AM That's an interesting fact.
Thanks for sharing. Title: Re: The satoshi: now the second-lowest currency denomination Post by: Pente on November 17, 2013, 09:28:30 AM Woooo thats awesome. It wont reach 0.01 usd i think The more I think about it though, the more I am convinced that it has to hit that value within two decades or die. I feel an economic war coming soon. Title: Re: The satoshi: now the second-lowest currency denomination Post by: Rannasha on November 17, 2013, 09:34:16 AM Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent. One million dollars <sirens> This is the Math Police! $0.01/1E8 = $100,000,000 USD One hundred million not one million dollars. No. Hundred million (10^8) satoshis per bitcoin, so $0.01 = 1 satoshi would imply that 1 BTC = 100,000,000 times $0.01, so $1M. Title: Re: The satoshi: now the second-lowest currency denomination Post by: DeathAndTaxes on November 17, 2013, 09:35:35 AM Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent. One million dollars <sirens> This is the Math Police! $0.01/1E8 = $100,000,000 USD One hundred million not one million dollars. No. Hundred million (10^8) satoshis per bitcoin, so $0.01 = 1 satoshi would imply that 1 BTC = 100,000,000 times $0.01, so $1M. DOH. Your right. I am going to bed. Title: Re: The satoshi: now the second-lowest currency denomination Post by: rampalija on November 17, 2013, 11:35:12 PM Fun fact of the day! ;D It's going to be interesting to watch how one Satoshi climbs the ranks of currency denominations as Btc price climbs. it could be interest if satoshi reaches that price Title: Re: The satoshi: now the second-lowest currency denomination Post by: exstasie on November 18, 2013, 03:05:21 AM wow. That's pretty cool if you think about it!
There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then! Edit: Looks like its at #89 now. http://coinometrics.com/bitcoin/bmix (http://coinometrics.com/bitcoin/bmix) Title: Re: The satoshi: now the second-lowest currency denomination Post by: markjamrobin on November 18, 2013, 03:08:30 AM wow. That's pretty cool if you think about it! Can you link us? I would love to look, given the recent group, I'm sure it has jumped some.There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then! Title: Re: The satoshi: now the second-lowest currency denomination Post by: exstasie on November 18, 2013, 12:46:24 PM wow. That's pretty cool if you think about it! Can you link us? I would love to look, given the recent group, I'm sure it has jumped some.There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then! I did!! I added the link to my post. Here it is again: http://coinometrics.com/bitcoin/bmix (http://coinometrics.com/bitcoin/bmix) |