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Author Topic: A flaw in bitcoin, if it became widely adopted 21m bitcoins, 7b people on planet  (Read 3132 times)
btcprospecter
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January 05, 2016, 12:26:12 AM
 #61

Like most people said why the need for a whole bitcoin when fractions of one can be used no different

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January 05, 2016, 12:31:42 AM
 #62

Some currencies are worth more than others. Just like the 1 Iranian Rial only worth about 0.08 bit, while 1 British Pound worth about 3,400 bits.

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January 05, 2016, 08:19:04 AM
 #63

In the near future when bitcoins will be widely and globally accepted and adopted by every single people around the world. even 1 satoshi will have its value. cant for the time that 1 satoshi can get me a cone of ice cream, well im hoping i will live long enough to witness it.

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January 11, 2016, 09:01:42 PM
 #64

In the near future when bitcoins will be widely and globally accepted and adopted by every single people around the world. even 1 satoshi will have its value. cant for the time that 1 satoshi can get me a cone of ice cream, well im hoping i will live long enough to witness it.

If the bitcoin price is $1m, 1 Satoshi is worth about a cent. We need the bitcoin price to be $100 million for a satoshi to buy a cone of ice cream.

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Goms
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March 23, 2016, 04:30:03 AM
 #65

Why does everyone need a whole Bitcoin?

Because you cannot do much with less than $400 and people need to do lots of things in their day-to-day activities.
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March 23, 2016, 05:23:15 AM
 #66

Why does everyone need a whole Bitcoin?

Because you cannot do much with less than $400 and people need to do lots of things in their day-to-day activities.


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March 23, 2016, 05:55:51 AM
 #67

There are also other CC, that would add value
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March 23, 2016, 07:18:41 AM
 #68

it will all come down to how many people are going to be using bitcoin in the end (7 billion or just a couple million) and also bitcoin price.
and both of these two have a hand in hand relationship. higher price will make more people use it and more people using it will lead to higher prices.
and high price means 1 satoshi is worth something, and as it was pointed out earlier there is 8 decimals after bitcoin.

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