Denker
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April 28, 2016, 03:03:31 PM |
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Theoretically yes.With consensus of course.
But there is aboslutely no need for that.
Bitcoin must have a very high value before we should even think about that.
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Kprawn
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April 28, 2016, 03:04:41 PM |
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What is the chance of that happening, if we cannot even reach consensus on Block sizes.  ... The protocol is not set in stone, but you will get a lot of people who would have objections about that. The price per Bitcoin would be crazy by that time and most people will fight for every Satoshi if that happens. I guess the payouts for faucets will be VERY valuable by that time too, and it would shut the mouths of the people who has been bashing faucets for many years now. Back in the day, Gavin's faucet paid out 1 to 5 bitcoins and look where we are now.  |
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romero121
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April 28, 2016, 03:49:53 PM |
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The possibility of bitcoin to be divided beyond Satoshi is possible only if the price goes very high. Big price increase will cause a division.
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virtualkeybuyer
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April 28, 2016, 03:58:46 PM |
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no, beyond it, bitcoin is unable to divide more, satoshi is the smallest unit of bitcoin which is further undivided, someone will say it half a bitcoin but that digit is unable in the technology of bitcoin.
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Dabs
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The Concierge of Crypto
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April 28, 2016, 04:09:44 PM |
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You could try increasing the money supply, but you will be alone in your own fork.
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coinzat
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Young but I'm not that bold
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April 28, 2016, 04:29:59 PM |
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why should we think about a unit smaller than satoshi ? . even if the price doubled or tripled form the current one, I think no one would ever will need a smaller unit.
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sase007
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April 28, 2016, 04:34:10 PM |
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Can bitcoin be divided further than 0.00000001?
Considering that generally speaking, the minimum amount of bitcoin that you can send via the network is 0.00006 BTC this is pretty useless to have anything less than a Satoshi, obviously, if the price increased, we would have to endorse this. A milli satoshi or a satoshi bit may be used in this case. A milli satoshi being 0.001 satoshi A satoshi bit being 0.001 milli satoshi |
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sase007
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April 28, 2016, 04:47:54 PM |
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Why not? You could add up to 3 more decimal places and you could still store the total number of these milliSatoshis that will ever exist in an unsigned 64-bit integer.
So let's see: 184,467,440,737.09551615 is the largest possible unsigned 64 bit value - we have not 3 more decimal places but 1 actually. How is 20 characters a 64-bit value. If it works that way, you could have an extra few after the decimal point according to that. |
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Jannn
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April 28, 2016, 05:09:04 PM |
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Some casinos do this already! They show satoshis, but you can win smaller amounts. If you do that a few times in a row, your balance does not change for every bet.
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BitMaxz
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Block halving is coming.
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April 28, 2016, 06:23:11 PM |
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For me for now it cant divided because bitcoin is still cheap and i think it cant divided even twice... but if the value of bitcoin is gradually increase more and more after block halving i think around 10k value this is possible to happen..
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delliaerd
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April 28, 2016, 06:33:30 PM |
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Maybe not everyone agree with me, but i think it is depends the developer of bitcoin itself, only him who can do that. But from my point of view, if bitcoin divide further than 0.00000001 bitcoin, it will be too small value .
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BitFomo
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April 28, 2016, 07:17:47 PM |
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It depends on the cross currency pair its traded against. For example, you can trade btc to ltc, and each satoshi will be worth several litoshi.
Example is novaexchange.
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quintiilieo
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April 28, 2016, 11:23:57 PM |
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Yeah thats possible and i think this is we need in faucets amount in future. We need it if the price of bitcoin is really high.
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countryfree
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Your country may be your worst enemy
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April 28, 2016, 11:57:15 PM |
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I wonder what block size would be needed if one satoshi was worth enough to make a worthwhile transaction. Better not think about it...
What I like though is that to make such a small transaction worthwhile, one BTC should be over $100,000. Well, I could stop working if this happens!
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I used to be a citizen and a taxpayer. Those days are long gone.
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Supercrypt
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April 29, 2016, 06:15:32 AM |
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Currently you are not able to divide it beyond as satoshi is the smallest introduced unit. However, if it ever becomes needed, additional units could be added that are smaller than a single satoshi (e.g. 1 000 000 Laudas = 1 Satoshi). I don't think that it will come to that though.
It will be needed if bitcoin becomes one day the world's only currency Otherwise it won't be needed. Now even if it does become the world's only currency, dividing the Satoshi into a million Laudas won't be needed: one more decimal will do the trick (to which we'll add 2 more for the sake of clarity). 1 BTC = 1,000 mBTC = 1,000,000 uBTC = 1,000,000,000 Parkers = 100,000,000,000 Nakamotos. That would give us a total of 21,000,000,000,000,000.00 Parkers, which is more than enough to store all the wealth that there is in the world. ( The satoshi would have to properly disappear as a unit otherwise it will become horribly hard to navigate between the new units and the old, so the role of the bitcocent could be given to a new unit called the Nakamoto or whatever.) That's a nice day-dream though, that would make quite a bunch of us billionaires But I too do see very soon, one day that bitcoins would become the world's only currency as most being used currency, if everything, literally everything in this world is valued in bitcoin and available for bitcoin. While what you suggested is practically infeasible, because I foresee the need to divide bitcoin beyond satoshi also. |
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betohell
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April 29, 2016, 06:27:44 AM |
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Can bitcoin be divided further than 0.00000001?
may be ? if bitcoin increase the price very high. probably around $ 100k / BTC bitocin may be divided more deeply under satoshi? |
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DimensionZ
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Shit, did I leave the stove on?
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April 29, 2016, 06:29:52 AM |
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Can bitcoin be divided further than 0.00000001?
I suppose it's possible but there is no point of doing that unless Bitcoin price increase .. a lot of course. Yup the future price of Bitcoin will be the main reason for a readjustment of the Bitcoin subunit structure. If the price is astronomically high in a couple of decades and the miner fees amount to hundreds if not thousands of dollars I guess the code will need to be changed. I also suppose all Bitcoin faucets and other ways of getting some free satoshis right now will be shut down because it would be like giving out free $10 dollar bills to random people every couple of minutes |
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target
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April 29, 2016, 06:30:49 AM |
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there would be no need to divide satoshis is you will just use other coins to store your wealth though. perhaps those ETH, DASH, LTC and the rest would be more useful for you once the value of bitcoin becomes extremely high. I don't think I'd live more than 50 years from now before that would happen.
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Bitware
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April 29, 2016, 07:30:00 AM |
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Can bitcoin be divided further than 0.00000001?
You're talking about precision, and yes it can be increased by modifying the Bitcoin source code. |
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Cuidler
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April 29, 2016, 08:42:56 AM |
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Some casinos do this already! They show satoshis, but you can win smaller amounts. If you do that a few times in a row, your balance does not change for every bet.
Sure, every service is free to do it internally, but you cant cashout under 1 Satoshi (practically you cant cashout even 1 Satoshi even when it is technically possible because of the much higher fees + dust limit preventing to relay such transactions) I guess the payouts for faucets will be VERY valuable by that time too, and it would shut the mouths of the people who has been bashing faucets for many years now. Back in the day, Gavin's faucet paid out 1 to 5 bitcoins and look where we are now. If Bitcoin was worth cents at those times, then you could buy thousands of Bitcoins for $20. Much better in the end than having tens of Bitoins just from faucets  . |
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