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Author Topic: What will happen when 1 satoshi is $ 1?  (Read 15065 times)
Yakamoto
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February 27, 2017, 05:05:19 PM
 #61

If one satoshi is equal to one dollar, there are going to be a lot of very wealthy people who got in on the entire thing early, and chances are Bitcoin will either be despised by other banks and financial system, or, in a more unlikely scenario, we might see an entire change with the current financial system and they may embrace Bitcoin.

Either way, $1 being 1 Satoshi is a massive fantasy.














 

 

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February 27, 2017, 05:08:37 PM
 #62

$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.
It is possible for BTC to reach such value but that might take a lot of time to reach such standard. I agree to the fact that due to inflation, all the other commodities will also rise making the feat just another number and not really a big achievement. In the other case if it happens without much inflation in other items, anyone associated with BTC would be rich. In any case, that days is far away and not worth pondering upon as of now.
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February 27, 2017, 05:59:50 PM
 #63

Propably Europe will face huge imigration problem becouse of number of refugees from USA,that time it could be war also,but it will not happen during my lifetime


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February 27, 2017, 06:53:51 PM
 #64

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?
When that happen all bitcoin enthusiast who hold BTCBTC will become rich. But that's not going to happen I think even I like that, I can't even imagine that by that time it's equlivalent of 100,000,000$/each bitcoin.

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February 27, 2017, 07:25:15 PM
 #65

Propably Europe will face huge imigration problem becouse of number of refugees from USA,that time it could be war also,but it will not happen during my lifetime
Having 1 satoshi to $1 does not mean that dollar value is depreciating and that is not what the OP intended to know. If the value of bitcoin increases then every fiat currency will be below and the valuation will be accordingly and you do not see people coming over to Europe because conversion rate will be not that different.I would be wise to settle down in a third world country where you can take the full benefit of the valuation difference.  Grin
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February 27, 2017, 07:27:29 PM
 #66

May be The World end.  Roll Eyes

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February 27, 2017, 07:54:06 PM
 #67

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?
Well, it's highly unlikely to reach 1 satoshi to 1 dollars. if it does you can be generous and pay 1 dollars for cent payments lol.
  some good info here. https://bitcointalk.org/index.php?topic=1453262.0

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February 27, 2017, 08:05:27 PM
 #68

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?
Well, it's highly unlikely to reach 1 satoshi to 1 dollars. if it does you can be generous and pay 1 dollars for cent payments lol.
  some good info here. https://bitcointalk.org/index.php?topic=1453262.0

it won't happen, i think everyone will got rich if it happening. No one want to coding, selling or work to get money, it means everyone will have lazy ass

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February 27, 2017, 08:09:02 PM
 #69

I think it will affect on market arround the world, too many rich people is a bad

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February 27, 2017, 08:17:43 PM
 #70

Being ceptic about such prediction, i dont believe bitcoin will reach such value in the future, i do believe bitcoin will reach 5000-1000 dollars for 1 bitcoin, above those it would need mass adoption and be recognizes as currencie and payment processor as well, something that looks like wont happen never.

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February 27, 2017, 08:22:24 PM
 #71

Something every one should know, after the next 2 or 3 decades we'll never be the same in technology advancement, by then bitcoin will become something entirely different in a way that is not possible today. even today not every one governments or smart individuals figured out what bitcoin really is and recent spike in price is because of the news of ETF of bitcoin. if you want to triple your money in less than 3 years, I'd suggest to buy now before it's too late because ETF or not price will be higher than $4000 before next halving happens.

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February 27, 2017, 08:31:01 PM
 #72

This will never happen in 100 centuries. What you are thinking is too much i mean most people have gone crazy behind bitcoin first 25000$ per bitcoin now 1 satoshi = 1$. Come stop expecting so much, just be happy what it is providing now and wait till end of the year when it reaches 2200$ plus

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February 27, 2017, 08:36:11 PM
 #73

Well I will definately regret selling off my Bitcoins hehe.
Keep hodling dudes  Wink

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February 27, 2017, 08:37:54 PM
 #74

I like that thread to read it. It is possible that it happen that 1 satoshi reach to $1 it will take some time but if we continue to support bitcoin then one day it will happen. But there is a question in my mind that what will then happen about the fees? At that time then the fees will be highest or it will come to lower according to our normal finance system?


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SvenBomvolen
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February 27, 2017, 08:40:27 PM
 #75

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.
Yes, this sounds just impossible to see such high price for Satoshi and Bitcoin. But in the case if bitcoin will be totally adopted as payment instrument and become like international payment - I think in this case Satoshi can cost much higher than now. Bitcoin is limited by 21 millions and this money will not be enough for all people on the Earth to be used, so to be used and to be enough for almost everybody bitcoin has to cost a lot; to people make payments just by satoshies or mBTC.

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warwar
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February 27, 2017, 08:41:55 PM
 #76

I think that thing will never ever happen.We all know that bitcoin is making a trend in our todays generation because of its extremely high price being a crypto currency but 1 satoshi to 1$ would notbe possible.And we all know that there is a market cap inbitcoins and i think it is not possible to go over the market cap i think that will result to something bad



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HabBear
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February 27, 2017, 08:46:16 PM
 #77

Can you explain your thoughts please?

Fees are generally a percentage of the total. That percentage wouldn't change as the value goes up.

So if you're happy paying 40 satoshi per byte today, you'll be happy to pay it tomorrow or the next day or when a satoshi is $1.

Right now we have transaction fees of about 40 satoshis per byte.
A transaction has an average size of 250 Bytes, as far as I can remember.
If you combine those two numbers you get 10000 satoshis transaction fees.
And if 1 satoshi would equal 1 dollar, that would be 10000dollars transaction fees.
I think I would not pay that.

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February 27, 2017, 08:58:57 PM
 #78

This is something that is highly unlikely till to impossible that could ever be happened. However, if for any reason the bitcoin will be so expensive in the future then there is no case to be made any transactions because the transaction fees will also be very expensive. There is chance that probably we will face the exacerbation of the deflation phenomenon and according to what Keynes said 'Inflation is unjust and deflation is inexpedient. Of the two perhaps deflation is … the worse;'
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February 27, 2017, 09:14:34 PM
 #79

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?
If a satoshi reached that value, unlikely but it is a possibility, then the code could be changed to add even smaller units, we could have mSatoshis which will be the 1/1000 of a satoshi the same way we have mBTC or even lower units if it was necessary.

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Slark
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February 27, 2017, 09:58:10 PM
 #80

I am not gonna argue whether bitcoin's price will reach that point when $1 will be equal to 1 Saotshi.
Most of you keep forgetting about one major detail. Price won't skyrocket to that level during next 5 or 10 years.
We might not even see that spike during our lifetime. It could happen in distant future though.
You know what inflation of dollar is? Since year 1913 cumulative rate of inflation of USD is 2352.9%
Inflation in recent years is even higher, so the real question here should be - what will you be able to buy for $1 dollar in distant future?
Future $1 will probably have purchasing power of today's 1 cent.

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