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Author Topic: What will happen when 1 satoshi is $ 1?  (Read 14949 times)
olubams
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February 27, 2017, 09:35:48 AM
 #21

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?

That will be a long way to go. Although, I will not say its impossible because even the price we are seeing for bitcoin today, quite a number of people would have said its not possible but at the same time, its not going to be easy if it becomes possible and when that happen, I see alot of faucet sites start giving out a fraction of cents, signature campaigns now paying in satoshis among other things because the price will be un-affordable to a lot of people...



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February 27, 2017, 09:38:46 AM
 #22

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 think that that is just an outrageous statement. There is literally no chance for Bitcoin to reach 1 dollar per satoshi. Because that would mean that Bitcoin is worth over 100,000,000 dollars which is just insane. However if that did hypothetically happen, it would really be great for Bitcoin and everyone that has invested in Bitcoin so far, would earn a huge sum of money and I think we would all be happy. And I don't think people would be trading with cents because the transaction fee would be higher. So 1 dollar per satoshi is a good price because it is around double the average transaction fee. Maybe one day Bitcoin will reach that price, but I seriously doubt it.

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February 27, 2017, 09:38:56 AM
 #23

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.

For now it's like a dream within a dream . I'm not saying thats impossible but what I meant is we might be dead even if it happens .
I have seen that you are not very familiar to faucets? Which is actually a god thing cause its a waste of time but everytime that bitcoins price increases the rates on faucets decreases . Compared the rates now and the rates when I started clicking ads on faucets . The rates are lower today . That's why OP is asking if we can create a unit thats much lower than satoshi . If ever $1 = 1 sat


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February 27, 2017, 09:41:09 AM
 #24

That means I will be a Billionaire and so is most people on this forum now. I believe by then Bitcoiners will be the ones controlling the world economy, the New World Order will set in. Roger Ver and co will be among the richest man in the world.

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February 27, 2017, 09:45:03 AM
 #25

I think it will never gonna happen since Bitcoin can only Increase up to $1k a year or more.
$ 100,000,000 is too big for a price of a BTC , we can only think about it
I think the name SATOSHI will be more commonly use since too much zeros is quite annoying.
Just Imagine Having a Wallet with BTC 0.00000001 balance on it  Grin "SATS 1" or " Satoshi 1" will be much better
And only rich people can hold 1BTC, having 1 can make you a Multimillionaire  Grin
And for sure if 1 Satoshi price will be $1, it will be hard for us to earn.

I'm also thinking if 1SATS = $1, I think they need an additional zeros and a name for less than $1 worth of BTC..
Just sharing my Imagination  Roll Eyes

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February 27, 2017, 09:51:14 AM
 #26

Sounds great but this will not happen, at least not in our lifetime. That would mean that half of bitcoins users would be multimillionaires. I also think that bitcoin can't achieve so high value and if by some miracle still would, that would mean total financial rush on the market and change of economy.

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February 27, 2017, 09:58:45 AM
 #27

It is highly unlikely something like this happens, unless the USD sees some form of hyper inflation.

By the time bitcoin would be so valuable, it wouldn't be compared to fiat anymore and you would simply pay xx satoshi for xx good.

If it really becomes so valuable that you would need less than a satoshi for let's say a loaf of bread, additional digits can be added, essentially creating a smaller unit than satoshi.

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February 27, 2017, 10:03:42 AM
 #28

I can't say a thing about the code and so I might be wrong but it seems like the guys from this forum are right:https://allcryptotalk.com/index.php?/topic/89-are-there-any-units-less-than-satoshi/. They say than satoshi is just 10 nanoBitcoins and so btc can be divided further if needed to pico, femto etc. As for the fee which is now 20 000 Satoshi, it will decrease eventually due to the halving. And as the price of bitcoin is quite dependent on miners, I think we won't face any problems with that.

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February 27, 2017, 10:05:45 AM
 #29

That is just too much of a prediction and I dont think that will happen. Aint it a punch to the face for the American dollar? For something to be that much valuable will be eradicated in this world. Countries will fight against it and will not let it ruin the financial industry of the world.
We agree with this and will be happy with that kind of price but what about the rest of the world?

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February 27, 2017, 10:07:07 AM
 #30

I think you should focus your attention on how to get as much BTC as possible and not on these kind of what if questions.

If that would take place, I would wipe my ass with $100 bills and would not care about those problems.

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February 27, 2017, 10:20:23 AM
 #31

When a satoshi is worth $1,  a bitcoin will be worth $100,000,000!

Yep, and so 100 GB blocks are needed if all transactions were 100% on-chain. Off-chain and/or side chains are obviously needed to address scaling, 100GB every 10 minutes might be difficult even given long term improvements in internet infrastructure, forget the short term.

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February 27, 2017, 10:24:43 AM
 #32

May happen and that time will be a really really long time to be true. Every owner of a bitcoon is really rich that time. 1 satoshi is .00000001 bitcoin.
And seriously the transaction fees will be reaching its maximum too.



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sotirispngt
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February 27, 2017, 10:28:13 AM
 #33

It is never gonna happen.
But theoritically, if it does, I believe that the cost of the products to buy with bitcoin will be higher.
It's just my opinion.
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February 27, 2017, 10:29:04 AM
 #34

I think it could have happened when 21 million bitcoin have been discovered and mined, may see 1 satoshi for $ 1, at least satoshi made 8 digits behind already proved that it would be expensive Smiley

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February 27, 2017, 10:39:43 AM
 #35

If 1 satoshi will reach the value of 1 dollar each then the possible solution will to add more zeros. Its like this if 1 satoshi is 0.00000001 then lets just add 3 more zeros to the system like this 0.00000001000. This way we can have a value less than one dollar. But if it is not possible then we can just convert bitcoin to altcoins so we can have centavos.

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February 27, 2017, 11:08:23 AM
 #36

If it is really happened then we will be rich from bitcoin, but I think if the price increase that high, it can cause serious problem for world economics, I think it can cause inflation and fiat price to drop down, but theoretically 1 satoshi to 1$ will not happened even if bitcoin is used by the entire people in the world
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February 27, 2017, 11:15:27 AM
 #37

Most of the people have already answered your question. But I would like to make things clear.
According to what you are thinking , it means that US won't develop at all and bitcoin will keep progressing.
Still it would take more than hundred years for that to happen. And kindly please stop thinking about things which won't happen.
It's just a waste of time for people who are reading as well as those who are posting.

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February 27, 2017, 11:29:28 AM
 #38

then i will become a rich man  Cheesy Wink
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February 27, 2017, 11:46:58 AM
 #39

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?

Bitcoin protocol and related software can
be modified to divide bitcoin to even smaller amount than Satoshi.
I hope 1 Satoshi value rise to a dollar but it is highly unlikely.

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February 27, 2017, 12:04:49 PM
 #40

I think that is possible but that will about to happen when we are dead people. Imagine the price of bitcoin since the start the bitcoin price is going up a very small amount only and as you can see It will pump and pump but your expected price is beyond impossible. As my speculation from the start we will not see that price because that is to big. But the speculation from the experts are 25,000$  is the latest from now but let's expect high from bitcoin.

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