Bitcoin limited to $1,000,000?

[jongameson]

Take the smallest unit, .00000001, and multiply it by $1,000,000.  what do you get?  that's right, 1 cent.  But think about it.  If Bitcoins are used as a storage medium, rather than a currency, it would still be kosher to have units that are dimes instead (i mean who likes pennies anyway), giving us a ceiling of $10,000,000.  Or just eliminate the pocket change, and make the base unit equal to a dollar.  That would be $100,000,000.

Still smaller than MY prediction of $750,000,000 (I saw it in a dream)

[pu1se80]

Sorry, but that does sound ridiculous.... However, I'm pretty sure it wasn't all that long ago that I was poo-pooing the idea of bitcoins @ $1000. Makes me wish I gobbled them up when they were a nickel, lol.

[zendantom]

Take the smallest unit, .00000001, and multiply it by $1,000,000.  what do you get?  that's right, 1 cent.  But think about it.  If Bitcoins are used as a storage medium, rather than a currency, it would still be kosher to have units that are dimes instead (i mean who likes pennies anyway), giving us a ceiling of $10,000,000.  Or just eliminate the pocket change, and make the base unit equal to a dollar.  That would be $100,000,000.

Still smaller than MY prediction of $750,000,000 (I saw it in a dream)

I thought about the same already, with the price $1,000,000,000 per Bitcoin, one Satoshi would be $10

How could we shop if the lowest unit is $10  

[jongameson]

that's what lite/feather coins are for  

and yeah $750,000,000 does sound silly low
i'm gonna up my rating to $2,200,000,000.00

[nobodysbusiness]

If a bitcoin does ever get up to $100 000 000, it seems like there would be a lot more vigorous attempts to hack the currency. I wonder if bitcoin can even stand up to such an onslaught?

[EcuaMobi]

If BTC reaches that value, we can just add more decimals to it. We can just create nanoBTC and below.

[Karlog]

I believe that btc wil go up to around 1300USD in this year

and overtime will be a lot more.. if the "normal" shops starts to take btc then the price will skyrocket! :O not like this year but REALLY SKY ROCKET!

so i am mining some btc.. AND LTC but i take LTC as an investment..

any of you gues thinking about other alt-coins? I am thinking off mining some other coins for like a day, and then just keep them in the hope that they will raise like BTC  

[thesims]

Bitcoin is a bubble 

[owlbear]

That would be a wonderful problem to have to deal with...

One way that it could work if Bitcoin hit a trillion per coin is that people could adopt an alternative crypto currency with a larger money supply for everyday transactions. Every now and then you would spend a few of your $10 Satoshis on altcoins and then you'd use the altcoins to pay for things.

Or you could just use buy government money and spend it, which is probably what most people are going to do most of the time. The creators of Bitcoin envisioned it to be used as money, but in the long run it is the users who will decide how it will be used. Maybe Bitcoin will always "just" be a storage of wealth.

[young3dvard]

any of you gues thinking about other alt-coins? I am thinking off mining some other coins for like a day, and then just keep them in the hope that they will raise like BTC  

Yes, you cant loose much by mining new coins bit, it is nice hobby anyway
You never know, maybe some of the coins will be successfull

[macjd]

i believe it can be altered to divide it further if the need arose

[neordicICE]

i believe it can be altered to divide it further if the need arose

This is called coloured coin and might be implemented later if needed

[darkbyte]

I think the limit exists to avoid a crash... however I'm reading to understand this stuff because I a completely newbie.

[ja2pa]

750,000 Would be something I could live with

[Sindelar1938]

That's the killer problem to have!
Would love to be in that situation