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Author Topic: We need to rethink the way we look at 1 BTC value...  (Read 3533 times)
virtualdn (OP)
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June 11, 2017, 02:49:21 PM
 #1

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

1 BTC = 1 BTC
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June 11, 2017, 02:56:01 PM
 #2

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time. Smiley


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June 11, 2017, 05:14:12 PM
 #3

Yes of course one bitcoin can change anybody's life recently I sold 0.05 bitcoin As I was having target of reaching 3000$ . So one of local exchange gave exact same value so sold now I think it's hard to earn of course it will take time
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June 11, 2017, 05:26:56 PM
Last edit: June 12, 2017, 06:14:55 AM by franky1
 #4

unlike the egyptians which measured gold in tonnes people now measure gold in ounces and soon grams will become common.


as for the bitcoin world bits (100sats) will become common

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June 11, 2017, 05:31:10 PM
 #5

Thats not easy for a newbie to understand they will always think negatively and difficulty to earn 1BTC. Yes 0.1 is  big amount now but if they think right, they might learn how to earn and store bitcoins. They just need positive thoughts to survive here.
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June 11, 2017, 06:37:25 PM
 #6

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

That's a good thought, but what you have to make people understand is the divisibility of bitcoins down to one satoshi or 0.00000001 bitcoins. This is a concept that may be hard to grasp for newbies but if this is know to them then this could really be something to be considered by everyone.
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June 11, 2017, 06:44:36 PM
 #7

Yup, true! I have been told even buying $50 dollars worth of Bitcoin, or even $10 worth of Bitcoin is good enough to get you started into Bitcoin.

Owning at least 1 BTC now would be ideal, and its not bad owning 0.1 either, is just that the earnings you might get is not even a lot. But every newbie should not think that way, instead, they should try to earn/buy Bitcoin slowly and saving up, and I bet that isn't impossible. It just takes time. Smiley

I will agree with you, that's what am doing. I try to hold my bitcoins and save them. And now because of the price you start thinking in terms of 0.10BTC-0.20BTC instead of 1BTC  Grin
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June 11, 2017, 06:46:46 PM
 #8

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees

And everyone else should always keep them in mind. Really, what's the purpose of 100 satoshi if it will remain dust even in the case these diamond crumbs cost a fortune (in dollars)? It's okay with the price going exponential but it is certainly not so good (mildly speaking) if the fees rise as fast or even faster. In fact, if they continue to grow, the available range for ordinary folks to buy in will be narrowing with each price rally. This is not a good thing. On the one hand, exchanges are setting lower limits for minimum orders, but, on the other hand, rising fees quickly make these orders meaningless

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June 11, 2017, 06:50:44 PM
 #9

Obviously as btc gains value it becomes harder and harder to own one coin but I really don't see many bitcoiners complaining about having 0.1 btc or anything already and if a new person asks about it then its very easy to explain that bitcoin is potentially infinitely divisible.
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June 11, 2017, 06:54:54 PM
 #10

Is it really that hard to conceptualize fractions of BTC? .1 BTC ~= $280 and .01BTC ~= $28

Doesn't seem all that difficult to me  Undecided
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June 11, 2017, 06:55:54 PM
 #11

As the years go different amounts of bitcoin become significantly more difficult to own. People used to donate 50 bitcoin's to the forum to become a VIP member. Who the hell would donate that amount now?

Maybe in 10 years most people won't even think having 1 bitcoin is realistic.


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June 11, 2017, 06:56:50 PM
 #12

OK, so now when a newbie looks at 1 BTC says: " I will never be able to own that! Too expensive!" - yes because people are willing to have 1 coin but how about if we make people understand that even owning 0.01 BTC can bring good wealth to their lives in the near future... I mean yeah it's great to own 1 BTC or more but that doesn't mean it's not great owning 0.1 BTC right?

Let them think of that way until they realized that even owning a less fraction of bitcoin, they already in possession of a good amount. On the way, they are doing everything to acquired bitcoins withut knowing that there small bitcoin earnings are now having a good value since bitcoin price increased.

And because of that, they will now have a mindset to changed their vision. Their old saying that they can't own BTC1 will now be changed it now be targeted more since they already saw a good value in their usual small bitcoin earnings so how much more if they owned BTC1.

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June 11, 2017, 08:36:37 PM
 #13

A solution could be to change unit of measure to 1 Satoshi. If the price keeps on rising I think it could be necessary.

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June 11, 2017, 08:47:44 PM
 #14

unlike the egyptians which measured gold in tonnes people now measure gold in counces and soon grams will become common.

as for the bitcoin world bits (100sats) will become common

You obviously forget about fees
Fees are completely irrelevant to this in every possible way.

They have no relation to whether someone is considering buying 1 BTC or 1,000,000 "bits".

Of course, a "Bitcoin", is just 100,000,000 spendable units.  If the Bitcoin price were $100,000 for example, they'd be spending 1000 bits when they spend $100.  That makes way more sense than spending 0.001 BTC, which is annoying to deal with and for people to get their head around when they're used to spending fiat currency.

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June 11, 2017, 11:41:22 PM
 #15

The bitcoin price now is already expensive, for third world country, it is a very large number, but as long as you own some bitcoin then you can earn profit and it is a good thing to invest in bitcoin, it doesn't need to be owning 1 bitcoin, but it could be a great motivation for all of us,


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June 11, 2017, 11:48:52 PM
 #16

Everyone starting out with Bitcoin eventually learns Bitcoin is divisible really soon. Exchanges sell less than 1 BTC... So I don't really see how this should be rethinked.
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June 11, 2017, 11:59:26 PM
 #17

It's still possible to have 1 full bitcoin, 3000$ isn't a huge amount, for poor persons too, they just need to save money to have this amount, it can take some time, but they can have that amount, in the future it will be more difficulty.
But I understand what you are saying, some persons don't have interest in bitcoin because they may not have 1 full bitcoin. In this case, these are fool persons that are losing a big opportunity in life to make their money price more.

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I used to be indecisive, but now I'm not sure...


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June 12, 2017, 12:38:01 AM
 #18

It's pretty obvious if you're a newbie you probably won't drop $3000 on 1 bitcoin (especially if you don't understand it) but about 5 minutes of research will lead you to... "...can break down to 8 decimal points called Satoshis" . If you're really too dumb to figure that out how will you understand how to turn on your phone and scan a QR code!?
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June 12, 2017, 12:46:25 AM
 #19

Well, I honestly often see that people in few various forums use mBTC as their way calling 100k sats. People back then too when bitcoin first released just calling bitcoin by mere BTC because they were owning hundreds or thousand of BTC and it seems like a dust for them. But see now, the price increase significantly, a BTC worth thousand dollar, so it's normal that there's a change of behaviour on how people call BTC.

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mk3000
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June 12, 2017, 12:51:21 AM
 #20

it'll happen on its own. when BTC reaches 100.000$ or 1.000.000$ we'll only use satoshis as the unit Cheesy

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