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Author Topic: What will happen when 1 satoshi is $ 1?  (Read 16887 times)
Meliodasama
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February 28, 2017, 12:06:55 AM
 #81

wow , its amazing .
so people keeping their bitcoin will be rich in future
but maybe it cost a long time for making 1 satoshi became $1 Smiley

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February 28, 2017, 12:15:16 AM
 #82

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.

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February 28, 2017, 02:05:53 AM
 #83

That is mean bitcoin is too expensive for trading bitcoin to fiat currency,
so if 1 SAT is $1 the traders must use altcoins for trading to fiat currency.
The strong candidate replace trading digital coins to fiat currency is ETH,
only ETH that has big marketcap after bitcoin. https://coinmarketcap.com
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February 28, 2017, 03:23:25 AM
 #84

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 there is a future that makes 1 satoshi equal to one dollar then we would neglect micro transactions. The current system is that it is not solely dependent on the price of bitcoin against dollar as i do not see transaction fees lowering any time soon as so the verdict is that we wont be able to send tiny amounts through bitcoin and that is the case even now as you are not able to send micro transactions as it is considered dust .

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February 28, 2017, 03:30:45 AM
 #85


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.

With 1 BTC = $100,000,000 that is far from reality. That is too much Smiley and I think it will never happen in our lifetime. but what I am sure is that bitcoin price will continue to rise and it is favorable to all investors and trader alike.

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February 28, 2017, 03:36:28 AM
 #86

If 1 satoshi is $1 I will be more happier because earning from faucet is now worth it and it now turn to be profitable effort of earning bitcoins. I will now be more agressive to run faucets if that would probably happened.


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February 28, 2017, 04:07:24 AM
 #87

Bitcoin consider as risky investation also has unexpected currency so it's not impossible for bitcoin able to reach highest value compare other fiat currency.
For bitcoin holder , it will be a good news for us as it become the most success investation I've ever experience
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February 28, 2017, 12:58:33 PM
 #88

In direct and simple words its far from reality and nearly impossible.
And lets assume that it really happened someday, then those who have holdings of BTC, they will get super billionaire  Cheesy

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February 28, 2017, 01:06:42 PM
 #89

If 1 satoshi is $1 I will be more happier because earning from faucet is now worth it and it now turn to be profitable effort of earning bitcoins. I will now be more agressive to run faucets if that would probably happened.
Do you honestly think that with there will be ever faucets which will offer you that $1 per claim and you will be able to earn bitcoin from it?
Think again, it won't happen, not with dollar's current or similar purchasing power.

Some of the comments in this thread are detached from reality so much, it is not even worth to debunk them.
You guys have no regard to the simple law of economy, growing inflation of fiat vs. deflationary bitcoin potential.


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February 28, 2017, 01:30:17 PM
 #90

That is mean bitcoin is too expensive for trading bitcoin to fiat currency,
so if 1 SAT is $1 the traders must use altcoins for trading to fiat currency.
The strong candidate replace trading digital coins to fiat currency is ETH,
only ETH that has big marketcap after bitcoin. https://coinmarketcap.com

If it is a problem to make changes in the coding section, they can solve with altcoins as you said.



There are two good answers on another subject similar to this one.

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.

As it is using an unsigned 64 bit integer to store the number of Satoshi's any extension to this would not at all be trivial (it would require quite a lot of code to be reworked and a huge amount of testing) so I can't see any such thing happening for many, many years (if ever).

Understand that it affects the entire system in regards to the txs (memory, protocol and storage). Perhaps people might recall the amount of work that was done to solve the Y2K problem?

(am guessing most here are too young to know about that - but it resulted in huge numbers of retired COBOL programmers coming out of retirement to earn huge amounts for a few years)

Those that say "Bitcoin's 8 decimal places can easily be extended" do not understand software engineering.
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February 28, 2017, 01:33:41 PM
 #91

I will be a millionaire instantly and will go for political post in my country, financed so many people's campaign into power and will try to hijack the political structure and make Bitcoin our second national reserve currency in my country. The progress of Bitcoin means we are going to remain in power perpetually

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February 28, 2017, 01:36:27 PM
 #92

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?
Another one of those interesting hypothetical question. So when 1 Satoshi = 1$ means 1 BTC would be $100,000,000(That's a 100 Million!) so basically anyone who owns just 1 bitcoin would be a millionaire, faucets probably won't exist unless another smaller unit of BTC is created. Sending smaller transactions would be a nightmare with the high fees. So 1 Sat= 1$ is really a good, it also has some cons but well who cares if you are millionaire.
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February 28, 2017, 01:49:25 PM
 #93

Since we know that this is just a very far speculation, I'll ride on it. For sure we will sell almost every coins that we had and it's like a gold mine that has unlimited supply of gold. And we are going to be freaking rich without doing something 1 satoshi will be small value to us but in real world that is already a big amount.



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February 28, 2017, 01:50:34 PM
 #94

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.
From my perspective, I don't deny that we haven't gotten anywhere near the future of bitcoin valued $100,000,000 and it's a long way up so I don't expect it to occur before I die but maybe in our children's time, things will change and you can't predict how fast and rapidly bitcoin will grow then. It's like 7 years ago, no one would think that bitcoin would ever reach the price of more than a thousand dollars, so there is nothing predictable.

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February 28, 2017, 02:04:55 PM
 #95

I think this happens possibility is very low, it is almost impossible. Try to imagine, if the price of 1 satoshi is $ 1, the Bitcoin will cost $ 100 million. It is a terrible figure, it's too big. Currently the price of Bitcoin is about $ 1,170, infer if you have $ 1, you will have 100000 satoshi. This shows that the price of 1 satoshi is $ 1 will be very unlikely. The value of Bitcoin is growing very fast, it is very developed but it remains at a certain level. If this happens I think there will be many people become millionaires because many people have more than 1BTC and the world economy will be able to big changes.

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February 28, 2017, 02:07:40 PM
 #96


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.

With 1 BTC = $100,000,000 that is far from reality. That is too much Smiley and I think it will never happen in our lifetime. but what I am sure is that bitcoin price will continue to rise and it is favorable to all investors and trader alike.
This is really far from reality and it wont happen even on the future from generations to generations. Its too far to comprehend such price estimation but still no one knows on when bitcoin could able to go far.One things for sure when bitcoins price would reach enourmous amount then all of users of it would be very happy.


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February 28, 2017, 02:31:34 PM
 #97

People mentioned that bitcoin can be upgraded and lower denomination than 1 Satoshi can be added.
I somehow doubt it could be done so easily, what if community won't accept it? Just like they refuse to accept any scaling solution.
Upgrading bitcoin block/tx capacity/scaling - which is far more important that denomination issue is still unresolved


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February 28, 2017, 02:37:47 PM
 #98

That is mean bitcoin is too expensive for trading bitcoin to fiat currency,
so if 1 SAT is $1 the traders must use altcoins for trading to fiat currency.
The strong candidate replace trading digital coins to fiat currency is ETH,
only ETH that has big marketcap after bitcoin. https://coinmarketcap.com
That's a nice site to see what the current rate of each coin is all on one page. With out that annoying live change (unless you want to with just clicking on reload page and have that as a choice) for people who has epilepsy it is very bad thing to be watching the price via preev. Developers of these sites need to be aware of everybody and be sensitive of their audiences health in regards to these preference. Embarrassed
Apart from that, my real question about your post.
What exchange does coinmarketcap use for there btc price listed on the website?

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February 28, 2017, 02:56:20 PM
 #99

wow , its amazing .
so people keeping their bitcoin will be rich in future
but maybe it cost a long time for making 1 satoshi became $1 Smiley


or it will just never happen, for this to become real the bitcoin price should increase 100 thousand times what is pretty much impossible and even if this happens then we will have no dollars any more because the bitcoin will have fiat replaced. We would need to wait at least a hundred years in order for this to become real and when satoshi becomes worth one dollar bitcoin will be used as a national currency of each and every country.


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February 28, 2017, 03:20:42 PM
 #100

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.
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