Why do we pay so much when the same function can be performed by a few Satoshis

[Jeremycoin]

First of all, 1BTC is not 1 million satoshis. It's 100 million satoshis = 100,000,000

I think it's because Bitcoin always growing, so the price always getting raise. And it affected the satoshi, ie. if 1BTC = 3$ so 1BTC= 1,000,000 satoshis. But because the price of Bitcoin is growing up, so.. 1BTC= 300$ so 1BTC = 100,000,000 satoshis

And, if you want use more less number. You could use mBTC which is 0.001BTC or 3 cents

The digits never change, it doesnt matter what is the price of bitcoin, it will always be 100.000.000 satoshis If the price is high then 1 satoshi would be worth more its as simple as it gets

Wow, sorry for that wrong So, when 1BTC is $1 and 1 satoshi still 100,000,000? So.. that's why the OP asking for?

[1715383814]

1715383814

[1715383814]

1715383814

[1715383814]

1715383814

[1715383814]

1715383814

[1715383814]

1715383814

[The Sceptical Chymist]

Why, if my grandmother had wheels, would she be a bicycle?  Not everyone rides her, I say.  We could amputate her feet and still have enough grandmother to go around.

[odolvlobo]

The value of a bitcoin comes from its ability to perform as a utility, as an anonymous

You need to learn about Bitcoin again. Bitcoin is even less anonymous than Cash

it depends, in the blockchain the only thing that it is displayed is your location based on ip, but what if i'm using bitcoin(sending transaction) not from my usual location?
it's not like in the blockchain or in my address there is my name wrote on...

There is no IP information in a transaction or in the block chain. That is a myth that is probably perpetuated by blockchain.info because they show the IP of the node that relayed the transaction to them, and it is mistakenly assumed to be the IP of the originator.

tnx for pointing me this, i didn't know about this, so i would assume that the position they show is also wrong?

The location of the relaying node is determined from sources such as http://www.iplocation.net/. If the location is unknown, then they use 0°, 0°

[Erdogan]

The value comes from the market, supply and demand. Supply is if you have some coins, and would rather have less or none, and offer them for sale. Demand comes from when you have none or few, and want to have more, and therefore bid to buy (or offer to sell dollars, which is the same).

Production and consumption does not come in to play, since there is no production (or a fixed, predetermined production) and no consumption (a coin always resides in someones wallet).

And just like darkness and light, where darkness is just absence of light, and coldness and heat, where coldness is just lack of heat, supply, in our case is the same as lack of demand (someone does not want to hold a coin in his wallet). It is only demand, the want and action you take to hold coins for a short or long time, that counts. The holding of one coin for ten years is the same as ten people holding one coin for one year.

Coinclusion: Demand to hold coins give them their value.

Edit: If you, Krugman, should happen to read this: The men with guns will come after you, the moment you start to speak the truth.

[Bardman]

First of all, 1BTC is not 1 million satoshis. It's 100 million satoshis = 100,000,000

I think it's because Bitcoin always growing, so the price always getting raise. And it affected the satoshi, ie. if 1BTC = 3$ so 1BTC= 1,000,000 satoshis. But because the price of Bitcoin is growing up, so.. 1BTC= 300$ so 1BTC = 100,000,000 satoshis

And, if you want use more less number. You could use mBTC which is 0.001BTC or 3 cents

The digits never change, it doesnt matter what is the price of bitcoin, it will always be 100.000.000 satoshis If the price is high then 1 satoshi would be worth more its as simple as it gets

Wow, sorry for that wrong So, when 1BTC is $1 and 1 satoshi still 100,000,000? So.. that's why the OP asking for?

Its like a dollar compared to euros for example. If 1€ equals 1.23$ even if the value of euros increase you would still represent dollars with 2 digits

[AtheistAKASaneBrain]

8 is just that magic geek number that's aesthetically pleasing. I don't think there was a very special reason to choose that unless satoshi pointed that out, just like 1 MB block size was not that special, it was just a number to keep things going for that time.

[username18333]

i dont know too much about it but im guessing all the coins must have those digits for some reason.

If you should review this software patch, you should find that the variables “COIN” and “CENT” were defined as one hundred million and one million respectively.

[Vaccomondus]

Why, if my grandmother had wheels, would she be a bicycle?  Not everyone rides her, I say.  We could amputate her feet and still have enough grandmother to go around.

lmao you made my day