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Author Topic: SATOSHI AS THE UNIT OF COUNT  (Read 548 times)
EluguHcman
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November 12, 2024, 08:45:35 AM
 #21

Don't you think that bitcoin as a unit already has too high a value compared to fiat currencies? For example, in Philippine pesos 1 btc = 4 million pesos... do you see that in the future we will be comparing 1 satoshi = 1 dollar?

Maybe we don't even have to go by far in this, there is a simple example to make in clarifying to the rise in bitcoin value, which is the initial worth of bitcoin itself ever since it was launched to what it is now, there was upon a time bitcoin worth nothing, but now, it is what every other person is aiming to have, if satoshi could be a smaller unit of bitcoin an the market rises, then indirectly the value of satoshi must follow suite by rising with the same speed in value.
Your point is clear when referred a valuable comparison of Bitcoin and the fiats.
Bitcoin was actually built in scratch of zero value while the US dollar was highily classified valuable but then, Bitcoin possing potential of valuabilities began to possess its valuables during when its widespread began to expand where adoptors were feasible to Invest on it.

Then it gradually was accumulating it values up to date that it is not just a currency but a valuable commodity that can be a hedge to store values. This means Bitcoin is not just a currency because it is versatile in values.
For the Satoshi, of course it is not a stable coin or token as the USDT.

The value of Satoshi today was as well valueless as Bitcoin was but as Bitcoin gathers it weights of higher price in values, so also Satoshi do pushes ahead to increase in values too.
Since Bitcoin volatility entries is unlimited in price, so also Satoshi can be unlimited in value which means in the future the Satoshi would as well be appreciated as Bitcoin because it has the potential on volatility increase.











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SquirrelJulietGarden
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November 12, 2024, 11:15:58 AM
 #22

Your point is clear when referred a valuable comparison of Bitcoin and the fiats.
People need comparison to find which one is better, like comparison between Bitcoin and fiat currency, between Bitcoin and gold, for example.
The bullish case for Bitcoin is a long article, also a book if you want to buy it on Amazon, with many insights about Bitcoin including comparison between Bitcoin and fiat currency, gold.

Quote
For the Satoshi, of course it is not a stable coin or token as the USDT.
People as participants like investors, traders in cryptocurrency market definitely dislike fiat currencies, but not all of them say "No" against stable coins. It's because they don't know about high risk of stable coins or they know of risk but ignore it.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

 
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m2017
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November 12, 2024, 04:34:49 PM
 #23

For 1 Satoshi to be worth 1dollar, then it probably means that the price of Bitcoin needs to be approximately around $100,000,000 per BTC, because with the current rate of Bitcoin been value at $85,600 at the time of writing this post, then it means 1 Satoshi should be roughly around $0.000856 ($85,600/100,000,000 = $0.000856).
Considering the inflation that the dollar is subject to (the crazy printing press) and the deflationary model of the bitcoin (limited emission), this figure doesn't seem impossible. Not now, by the time the last bitcoin is mined or a little later.

But I have a question: what is the point of comparing the bitcoin (satoshi) with the dollar? It is almost the same as trying to compare "warm" with "soft", because these are completely different financial instruments. One multiplies and becomes cheaper, and the other - decreases and becomes more expensive.

I hope that someday the time will come when 1 sat. will not be compared with anything else except the 1 sat. (1 sat. = 1 sat.).

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SquirrelJulietGarden
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November 13, 2024, 07:48:45 AM
 #24

For 1 Satoshi to be worth 1dollar, then it probably means that the price of Bitcoin needs to be approximately around $100,000,000 per BTC, because with the current rate of Bitcoin been value at $85,600 at the time of writing this post, then it means 1 Satoshi should be roughly around $0.000856 ($85,600/100,000,000 = $0.000856).
Some explanation is here too
Why is Bitcoin’s supply limit set to 21 million?
Quote
If Bitcoin were to grow to become the single world currency—replacing all those that the M1 figure is comprised of—then each BTC would be worth $1 million. Because there are 100 million satoshi in each Bitcoin, this would place the value of each satoshi at $0.01.

Considering the inflation that the dollar is subject to (the crazy printing press) and the deflationary model of the bitcoin (limited emission), this figure doesn't seem impossible. Not now, by the time the last bitcoin is mined or a little later.
I love bitcoin but it's too much in my opinion. Many years ago, theymos made his post with which he wrote that if Bitcoin hit a high price (I don't remember how much it is in theymos' example), some Bitcoin whales will have bigger capital than many national capital. It's too unrealistic.

Quote
I hope that someday the time will come when 1 sat. will not be compared with anything else except the 1 sat. (1 sat. = 1 sat.).
1 satoshi = 1 satoshi.
1 bitcoin =1 bitcoin.

These simple facts are meaningful for people who want to exchange their bitcoin for other things, like real estate, luxury items, especially useless altcoins. If they exchange bitcoin to altcoin, they will see 1 bitcoin initially drops to 0.8, 0.5, 0.1 or 0.01 or less in BTC.

 
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