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Author Topic: What will happen when 1 satoshi is $ 1?  (Read 16787 times)
Carlton Banks
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February 27, 2017, 12:15:12 PM
 #41

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.

Don't tell Franky1, he claimed in the past that subdividing 1 satoshi = inflating the 21million BTC limit (lol):

1 unit of measure UP =2100000000000000 cap

lets use gold as an example
1 grain of gold. with there being 2100000000000000 grains of gold in the world.
by even suggesting to add more grains of gold. ruins golds rarity. it even affects when 'all the gold' will be mined

even if you then say 100,000,000 grains was an ounce and now lets rename it so 100,000,000,000 grains = an ounce. doesnt change the fact that there are more grains of gold being created. it dilutes the value of each grain.

Franky1 claims to be an honest Bitcoin expert, but here he demonstrates that he pretends he does not understand the difference between addition and division, he's only interested in telling obvious lies to make his "points".

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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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February 27, 2017, 12:21:33 PM
 #42

Well if 1 satoshi reach 1 dollar , if will take a long long time if it becomes more popular and if it is being used worldwide.
To reach that amount it will take more than 20 years and it will require a lot of patience .worldwide acceptance is required.
People will go for free satoshi , there will be huge people doing that and it is worth wile waiting for that to happen.
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February 27, 2017, 12:23:27 PM
 #43

If that happens then most of us will become ultra rich. But the downside is there will be no more free faucet from faucet sites , gambling sites because the minimum they faucet claimers will get 1$. I agree with Bitcoin will get a minimum amount to withdraw, you will not be able to withdraw 1$ because you have to pay for miners fee also.

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February 27, 2017, 01:31:18 PM
 #44

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.
Wouldn't a larger block size be required to hold the same amount of transactions as it does now though? And seeing that they're still reluctant to increase block sizes now I'd say that's the last thing the Core team will do

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February 27, 2017, 01:37:58 PM
 #45

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.

Yeah, I see situations where exchanges take fee around $50000 per transactions. Hold on the USA, I will buy you for one year

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February 27, 2017, 01:45:53 PM
 #46

they day is not very far from us because already bitcoin's price is up soaring like space shuttle. and may be within few decade we will have satoshi as a unit of transaction inbitcoin and not btc. and may be 1 satoshi would worth as big as $1 or so.
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February 27, 2017, 02:15:42 PM
 #47

If this happens then the amount of money in bitcoins in the world(100 million x 21 million) will exceed the total amount of money in the world today (about $75 trillion), so this wont happen likely, and if it does happen, then the value of money would be very low, so it wouldnt make a difference.

If it does happen, then I am sure that the bitcoin protocol would be adjusted accordingly to add more zeros to a bitcoin and create units lesser than satoshis.
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February 27, 2017, 02:18:25 PM
 #48

it can not happen. If it happens, the fee per transaction may increase up to $10000 and I think nobody will accept that. Therefore, if 1 satoshi equal to $1, it will be the end of Bitcoin. People will find another crypto to use instead of Bitcoin and Bitcoin is only hold by millionaires and billionaires. Keep dreaming kid

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February 27, 2017, 02:21:14 PM
 #49

The nature of bitcoin is self regulating and the tx fee is going to regulate the transaction number.

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February 27, 2017, 02:25:07 PM
 #50

I do think that it makes no difference how much currency. Matter how much day you make it. I do not like very much the current bit width of bitcoin. It would be easier to price was close to the dollar and calculating it against it easier.
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February 27, 2017, 02:36:37 PM
 #51

1 satoshi for $1 dollar is a bit too much of imagination but I truly believe that bitcoin would definitely reach at $5000 to $7000 level one day. Not soon, but probably in the future if the demand stays strong.

However, if bitcoin reaches $1 per satoshi, It will be the happiest day of my life, because I will be a multi millionaire and I can afford any luxury I can every dreamed off. But that is not going to happen, because for that, bitcoin's market cap needs to be more than the whole earth together.

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February 27, 2017, 02:54:28 PM
 #52

That would be a fun time. We'll be paying a thousand dollar fee every time we send our bitcoins to anyway. That would be a hassle for everyone. It would be impractically to send out anything when that time comes because of such fees. Also, people would be billionaires just be holding a fraction of a bitcoin now.

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February 27, 2017, 02:58:02 PM
 #53

1 satoshi = $1
1 btc = $100.000.000

and that mean for those who hold their bitcoin at least 1 bitcoin i think they would became rich man because with those amount you could buy anything you want however this is not gonna happened and i think this is impossible

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February 27, 2017, 03:00:06 PM
 #54

Oooh, good question!

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

The second question I cannot answer, but I'm sure some other bloke here can!

haha. if 1 satoshi is worth $1, I think bitcoin users will be happy. and we are waiting for that, the increasing price.

however, I think you probably mean what if 1 bitcoin is worth $1? cmiiw.

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peter0425
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February 27, 2017, 03:28:37 PM
 #55

We all gonna be rich as in millionaires. I hope it will happen someday but highly unlikely though because of the market cap of bitcoin. How I wish if could happen.  Cheesy

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Assman
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February 27, 2017, 03:53:40 PM
 #56

$1 per satoshi
=
$100,000,000 per BTC
=
$2.1 QUADRILLION market cap

Is POSSIBLE if there's a HUGE derivative market based around BTC, but it's insanely unlikely it will ever happen

abel1337
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February 27, 2017, 03:58:36 PM
 #57

We all gonna be rich as in millionaires. I hope it will happen someday but highly unlikely though because of the market cap of bitcoin. How I wish if could happen.  Cheesy
Sad to say It will never happen to jump bitcoin price like that high. 1 satoshi is equal to 1 dollar is insane.
The whole world will be disturbed if that happen ,The worst case would be government will ban bitcoin because of it s price if we imagine it happen.

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AicecreaME
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February 27, 2017, 04:44:13 PM
 #58

That means a holder of one bitcoin will be a billionaire in dollars. For me personally I pray that should happen as I will automatically because a billionaire in dollars.  I doubt if this is possible in the next 50 years to come an by then I believe satoshi and others cryptographers will update the blockchain for a cent like value. I really wish this happen.

It is good to be true to be honest, it is true what you have said that we could be millionaires when this happen, though, it will take years for this thing to happen for sure. The Government is out there, our number one enemy about getting bitcoin as the currency that we can be use in our everyday lives, since they can't control the bitcoin network, that is why still now, they are not seeing bitcoin as the key for the success in every countries around the world.

They are sticking to the thoughts of "what if" and other negativities about bitcoin, though some of their reasons are true. But I think the only problem here is those people who are using bitcoin in illegal activities that is why Governments are against it. Trying to encourage those people not to use it anymore on some kind of activities like that will help to promote bitcoin as a payment on every transactions that we will have in the future.

And also, Governments must seized those online shops that is selling illegal goods like illegal drugs, guns and so on, so that, bitcoin can't be use to something like this again, also for everyone not to be tempted on buying something like this.

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webtricks
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February 27, 2017, 04:58:55 PM
 #59

We all gonna be rich as in millionaires. I hope it will happen someday but highly unlikely though because of the market cap of bitcoin. How I wish if could happen.  Cheesy
Sad to say It will never happen to jump bitcoin price like that high. 1 satoshi is equal to 1 dollar is insane.
The whole world will be disturbed if that happen ,The worst case would be government will ban bitcoin because of it s price if we imagine it happen.

The price of Bitcoin can be @ $100m only when people wish it to have its price there. Bitcoin prices don't go up/down automatically, they depend on demand and supply. I don't think demand can be stronger enough ever to sustain 100m price. Well, no matter if government ban Bitcoin, goods have higher values in black market.

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February 27, 2017, 05:00:51 PM
 #60

$1 per satoshi

Well... it may happen only in post-apocalyptic world where a hamburger will cost $10000. I don't think that you would be happy anywhere there.
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