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Author Topic: What will happen when 1 satoshi is $ 1?  (Read 16103 times)
Rogerdale
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March 03, 2017, 02:41:44 PM
 #121

At the current price, 1BTC = $1260, so 1mBTC = $1.26 and 1 satoshi is $ 0.0000126. The increase has to be about 80,000 times. Not going to happen in foreseeable future.

If Bitcoin keeps growing 5% a month as it does from its lows in 2014 till now, we will see 1 satoshi = $1 in the year 2037. But its capitalization would be 1600 trillions of dollars which is 20-25 times more than total money supply on Earth today and 8-10 times more than estimated money supply in 2037. So I think it will not happen.
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March 03, 2017, 02:46:38 PM
 #122

if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.

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March 03, 2017, 03:30:23 PM
 #123

Now in this time, it is imagination, but in reality it take time, may be after 10 or 15 years ago, if bitcoin will be remain in this world, than 1 Satoshi will be equal $1. But i wish the day will come soon, than definitely bitcoin make us rich.

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March 03, 2017, 03:39:34 PM
 #124

If 1 satoshi is equal to 1 dollar, I wonder how will we pay the fee's in cents? It's good to claim faucets, and all other waist of time jobs cause with this prediction everyone here will be a millionaire. 10 mBTC to be 1 million dollars, in this scenario I'm multi millionaire, this will not happen in my lifetime, even bitcoin price is increasing each year, this is very hard for my brain to realize, can we be so lucky?


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March 03, 2017, 03:59:24 PM
 #125

if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.
It's all right, but what to do with limited nature of bitcoin? Wealth is spreading among people not evenly, but bitcoin is limited by 21 milions. I think in the case of such price bitcoin will have to be replaced by another crypto currency which is not so limited or which has higher number of limit; or bitcoin will have to changed itself to be enough fdor all people.
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March 03, 2017, 04:19:08 PM
 #126

In next month (if every bitcoin user thinks so), the price is determined by the law of demand and supply. If buyers are willing to pay $1 for a Satoshi then that will be the price of the satoshi. However, practically it is not possible anytime in near future because it will require huge market capital and unless warren buffet, Bill gates decides to pour their money in bitcoin, such thing is out of question as of now.
It would really require huge demand on bitcoin if the price per satoshi is $1 and considering the price per bitcoin is very high which isnt possible to happen in our lifetime or on next generation but still no one knows on what would happen but for sure government would create their own e-currency in future which would be a big blockage on bitcoins progress.

It all depends on if and then which absolutely has no meaning. Technically $1 per satoshi is not possible anytime near future but theoretically, it is possible in case of a devaluation of the dollar. It will have the whole new world and aspects if governments launch their own cryptocurrencies. Ultimately they need control so it is less likely to happen.

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March 03, 2017, 04:24:05 PM
 #127

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

I do believe that the decimals can be modified according to the needs.  It is only a code that the core developer can reprogrammed if they wanted to or the situation that need it to make satoshi broken into smaller parts.  And as usual transaction will still the same as it was before.  The process of converting USD price to BTC price will be done and customer need to send BTC to  a specific BTC address.

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March 03, 2017, 05:15:20 PM
 #128

If one day, the price of 1 satoshi will be 1$. Currently all users here will be millionaires. because i think many of people here have a lot of bitcoin.
So i hope one day 1 satoshi will be 1$ ,that is to say 1 BTC = 100,000,000$. It's extrammly. Maybe it will be happen after 40 years or maybe more. Around 10-15 halving. I hope that i live this moment.

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March 03, 2017, 05:23:29 PM
 #129

If 1 satoshi is equal to 1 dollar, I wonder how will we pay the fee's in cents? It's good to claim faucets, and all other waist of time jobs cause with this prediction everyone here will be a millionaire. 10 mBTC to be 1 million dollars, in this scenario I'm multi millionaire, this will not happen in my lifetime, even bitcoin price is increasing each year, this is very hard for my brain to realize, can we be so lucky?

Obviously long before a satoshi is a dollar the code would be changed so it could be broken down to 10,12,16 decimal places. It's kind of a no brainer.

What you need to realize is that if there are 21M bitcoins and each of them costs $100M (1 satoshi = $1) then the market cap would be 2.1E15 or 2.1 quadrillion dollars. It's not going to happen. That's higher than the entire world's money supply. It's just never ever ever going to happen (unless the dollar is virtually worthless).














 

 

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March 03, 2017, 06:06:16 PM
 #130

if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.
It's all right, but what to do with limited nature of bitcoin? Wealth is spreading among people not evenly, but bitcoin is limited by 21 milions. I think in the case of such price bitcoin will have to be replaced by another crypto currency which is not so limited or which has higher number of limit; or bitcoin will have to changed itself to be enough fdor all people.
There is enough bitcoin for everyone, this is the same false argument used against gold, what will happen is that we will use very small amounts of bitcoins for our transactions since bitcoin will become very valuable, and that is a good thing for all of us.



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March 03, 2017, 06:11:25 PM
 #131

I don't think satoshi's such an increased value. If such a growth happens sure most of us will become rich. The faucets sites will be encountering high traffic and can see people using faucets more than our forum.

Faucets by that time will close down or at maybe have much lesser rewards. 1 satoshi is 1 dollar, theoretically in this thread, and you only earn 0.1 cents per every claim in faucet sites. So that will be 0.001 satoshis for every claim if they lower it. Since there's no unit lower than one satoshi, the user can only pay out after the user have made 1 satoshi which is after 1000 claims.

Even after the price of bitcoin has increased a lot, faucets will still be a waste of time. To be honest, I'm wondering what on earth does faucet users do in life? Is their whole day or their life has very little value that they would accept working for hours just to get centavos.

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March 03, 2017, 06:19:23 PM
 #132

I don't think satoshi's such an increased value. If such a growth happens sure most of us will become rich. The faucets sites will be encountering high traffic and can see people using faucets more than our forum.

Faucets by that time will close down or at maybe have much lesser rewards. 1 satoshi is 1 dollar, theoretically in this thread, and you only earn 0.1 cents per every claim in faucet sites. So that will be 0.001 satoshis for every claim if they lower it. Since there's no unit lower than one satoshi, the user can only pay out after the user have made 1 satoshi which is after 1000 claims.

Even after the price of bitcoin has increased a lot, faucets will still be a waste of time. To be honest, I'm wondering what on earth does faucet users do in life? Is their whole day or their life has very little value that they would accept working for hours just to get centavos.

It's true. Wouldn't be possible to add more decimal houses to Bitcoin instead of the currently 8?

If it's not possible, it would be the end of the instantly paying faucets. Only faucets with threshold would work, and it's not interesting for faucet users, because many scammers use this strategy to make people claim on faucets and don't earn anything in the end.

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March 03, 2017, 07:11:39 PM
 #133

1 satoshi - 1 dollar will be fine as a "wish" every cryptographer becomes infact wealthy,but the value of currency in this condition will bring adverse effect on other trades and involved economy.

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tertius993
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March 03, 2017, 07:20:03 PM
 #134

I don't think satoshi's such an increased value. If such a growth happens sure most of us will become rich. The faucets sites will be encountering high traffic and can see people using faucets more than our forum.

Faucets by that time will close down or at maybe have much lesser rewards. 1 satoshi is 1 dollar, theoretically in this thread, and you only earn 0.1 cents per every claim in faucet sites. So that will be 0.001 satoshis for every claim if they lower it. Since there's no unit lower than one satoshi, the user can only pay out after the user have made 1 satoshi which is after 1000 claims.

Even after the price of bitcoin has increased a lot, faucets will still be a waste of time. To be honest, I'm wondering what on earth does faucet users do in life? Is their whole day or their life has very little value that they would accept working for hours just to get centavos.

It's true. Wouldn't be possible to add more decimal houses to Bitcoin instead of the currently 8?


I'm interested in knowing the real implications of this question, people keep saying "oh, we'd just use more decimal places" but it doesn't look that simple to me.

The code doesn't use Bitcoins, it simply counts satoshis.  A "Bitcoin" is simply the label for 100 million satoshis. So you aren't "adding decimal places" you would have to actually introduce the concept of the digital point and thus fractions of a satoshi  - the implications would be very far reaching and (I suspect) it would be very, very difficult to do.
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March 03, 2017, 09:41:49 PM
 #135

I don't think satoshi's such an increased value. If such a growth happens sure most of us will become rich. The faucets sites will be encountering high traffic and can see people using faucets more than our forum.

Faucets by that time will close down or at maybe have much lesser rewards. 1 satoshi is 1 dollar, theoretically in this thread, and you only earn 0.1 cents per every claim in faucet sites. So that will be 0.001 satoshis for every claim if they lower it. Since there's no unit lower than one satoshi, the user can only pay out after the user have made 1 satoshi which is after 1000 claims.

Even after the price of bitcoin has increased a lot, faucets will still be a waste of time. To be honest, I'm wondering what on earth does faucet users do in life? Is their whole day or their life has very little value that they would accept working for hours just to get centavos.

It's true. Wouldn't be possible to add more decimal houses to Bitcoin instead of the currently 8?


I'm interested in knowing the real implications of this question, people keep saying "oh, we'd just use more decimal places" but it doesn't look that simple to me.

The code doesn't use Bitcoins, it simply counts satoshis.  A "Bitcoin" is simply the label for 100 million satoshis. So you aren't "adding decimal places" you would have to actually introduce the concept of the digital point and thus fractions of a satoshi  - the implications would be very far reaching and (I suspect) it would be very, very difficult to do.

It would be a fraction lower than 1 satoshi, probably with another name. Something like 100 of this fraction is equal to 1 satoshi. I don't know if it's possible.

If it's too hard or not interesting for developers, probably alt coins would be used to send cheaper transactions like the DOGE coin or any other alt.

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March 03, 2017, 11:36:21 PM
 #136

When a satoshi is worth $1,  a bitcoin will be worth $100,000,000!
Yeah, exactly.  If and when that happens, signature campaigns will be paying about 3-4 satoshis per week.  Think about it. 

But we're nowhere near that, and I don't anticipate that happening in any of our lifetimes, and probably not even in our great-grandkids' life times either.
Yeah i totally agree to to your point. The problem is most of the people are expecting too much from bitcoins and it is just 5-6 year old.
Also till now we never saw any sort of return with gold or any stock so how can we expect something like this from bitcoin.
It's just wishful thinking but seeing that it rose to $1200 from $0.09 in 8 years is growth and spread that even cancer and ebola can't beat Tongue
I mean come on man i do agree that from 0.09$ to actually 1200$ is a lot but seriously man currently 1 satoshi is
what 0.0001$ or something it may be even low but excepting 1 satoshi = 1$ is something that impossible and we
may never achieve that gold until the supply is over.

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March 03, 2017, 11:53:48 PM
 #137

When a satoshi is worth $1,  a bitcoin will be worth $100,000,000!
Yeah, exactly.  If and when that happens, signature campaigns will be paying about 3-4 satoshis per week.  Think about it. 

But we're nowhere near that, and I don't anticipate that happening in any of our lifetimes, and probably not even in our great-grandkids' life times either.
Yeah i totally agree to to your point. The problem is most of the people are expecting too much from bitcoins and it is just 5-6 year old.
Also till now we never saw any sort of return with gold or any stock so how can we expect something like this from bitcoin.
It's just wishful thinking but seeing that it rose to $1200 from $0.09 in 8 years is growth and spread that even cancer and ebola can't beat Tongue
I mean come on man i do agree that from 0.09$ to actually 1200$ is a lot but seriously man currently 1 satoshi is
what 0.0001$ or something it may be even low but excepting 1 satoshi = 1$ is something that impossible and we
may never achieve that gold until the supply is over.
Since bitcoin is growing everything is possible in bitcoin and maybe it will be happen in the future right now as you can seen in many website many services right now are also accepting bitcoin as payment and i think bitcoin are growing more and accepting locally like brazil  and paris and iother country that i don't heard any news here in forum..  1 sat to $1 can be possible.. so better to think positive so that we can push our self to buy more bitcoin and save and get benefits of the price increase until in the future..

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March 04, 2017, 02:22:22 AM
 #138

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

Of course if that really happen many will become reach who hold bitcoin in the entire world. I can't imagine how people would be happy if that's really happen, I think the poverty would instantly being resolve if many will become rich.
Bitcoin is a great technology but it cannot solve every single problem by itself, the problem of poverty has been around with us since the beginning of civilization and it does not seems it is going to end anytime soon and bitcoin by itself does not provide a solution to that problem.


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March 04, 2017, 02:58:25 AM
 #139

The price could go really high after all coins are mined, but I don't think it can get that high. The growth will probably be slow but steady but will take years to get to even 5 figures per Bitcoin.

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March 04, 2017, 11:21:39 AM
 #140

If 1 satoshi is equal to 1 dollar, I wonder how will we pay the fee's in cents? It's good to claim faucets, and all other waist of time jobs cause with this prediction everyone here will be a millionaire. 10 mBTC to be 1 million dollars, in this scenario I'm multi millionaire, this will not happen in my lifetime, even bitcoin price is increasing each year, this is very hard for my brain to realize, can we be so lucky?

Obviously long before a satoshi is a dollar the code would be changed so it could be broken down to 10,12,16 decimal places. It's kind of a no brainer.

What you need to realize is that if there are 21M bitcoins and each of them costs $100M (1 satoshi = $1) then the market cap would be 2.1E15 or 2.1 quadrillion dollars. It's not going to happen. That's higher than the entire world's money supply. It's just never ever ever going to happen (unless the dollar is virtually worthless).

Thanks for nice explanation about how bitcoin code can be changed. I don't think this will be so easy, but not impossible.
World money supply is growing, and maybe it's silly to think that bitcoin can worth so much, but just maybe bitcoin can make bigger success then everyone hoping. Uniting all world under one currency, universal one can be achieved one day in the future. Don't get me wrong but in ideal circumstances anything can happen, in far far future who knows what will happen.


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