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Asrael999
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August 25, 2017, 07:59:15 AM |
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What if something costs less then a dollar ? Then what ? That's exactly why we have the decimal system. We don't need comma's with bitcoin because it goes down to such a low denominator. It's like how the Japanese yen is. They don't use fractions either. Bitcoin was not designed to work that way.
This is a thread with one of the earliest version of BTC. https://bitcointalk.org/index.php?topic=382374.0Those lines are basically bitcoins and satoshis. Change them and you can get 100 trillions satoshi in a btc instead of 100 millions as it is right now. Denomination will happen a lot easier than with fiat. No need to print new coins and banknotes. Just a few lines code and hit update. Yes because changing bitcoin's code has proven to be trouble free and non-contentious, just look at the current fork shenanigans. In all seriousness though GLOBAL GDP is $75,278bn, that's about $3.5mm a Bitcoin. Now GDP is not the same as money supply or debt, Global debt is $199,000bn, but I think for the moment we have to accept that $1 a satoshi is unlikely/impossible in What for me is effectively my lifetime (50 years or so) |
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Unlike traditional banking where clients have only a few account numbers, with Bitcoin people can create an unlimited number of accounts (addresses). This can be used to easily track payments, and it improves anonymity.
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ASHLIUSZ
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August 25, 2017, 11:27:09 AM |
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Right now the growth is tremendous, but it doesn't have a perfect reason for such a growth to happen. Maybe in the future when the entire population of the world starts using bitcoin the value of a Satoshi might increase and reach $1, because the bitcoin mining is limited to certain number as well the halving happens in between.
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JL421
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August 25, 2017, 11:44:10 AM |
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It is still not possible that would mean 1 bitcoin is worth 100 million. It does have a high demand but pushing the price so high seems impossible right now there should be a reason for the price to increase but increasing by such a margin would mean anyone holding a bitcoin will be a millionaire and huge holders would have trillions
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machinek20
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August 25, 2017, 12:17:31 PM |
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I think the chances of a satoshi become a dollar is really low, when that happened there will be a lot of new millionaire and I think most of the people will switch to other coin to invest, but for sure the price will be very valuable in the future and it is always a great idea to save more bitcoin for the future
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snowdropfore
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August 25, 2017, 01:07:57 PM |
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anything could happen in bitcoin ,maybe it will become zero one day ,maybe it will be worth $1000000 .who knows ,let me choose ,i will choose $1000000, at that day ,i will be very rich .
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Barcode_
Staff
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APP下载sbapp.io
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August 25, 2017, 04:02:44 PM |
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If the price of 1 satoshi manage to get to $1, there will be a lot of millionaire made in this world suddenly, but I don't think it will ever happen because I can't imagine how much will it cost for the sender to send one transaction to another user if the value of 1 satoshi is $1.
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fabiorem
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August 25, 2017, 04:03:43 PM |
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Yes, but I dont know if I will be alive to see that.
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reflector
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August 25, 2017, 05:45:56 PM |
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If the price of 1 satoshi manage to get to $1, there will be a lot of millionaire made in this world suddenly, but I don't think it will ever happen because I can't imagine how much will it cost for the sender to send one transaction to another user if the value of 1 satoshi is $1.
We cannot assure and say that and will not happen at all. Now mbtc has been increased to big value but fees for the transaction has become a big amount what we see in the time August 1st movement. We need that to reduce the earlier value then we can worry about the satoshi's cost. |
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mrcash02
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August 25, 2017, 06:25:10 PM |
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If the price of 1 satoshi manage to get to $1, there will be a lot of millionaire made in this world suddenly, but I don't think it will ever happen because I can't imagine how much will it cost for the sender to send one transaction to another user if the value of 1 satoshi is $1.
We cannot assure and say that and will not happen at all. Now mbtc has been increased to big value but fees for the transaction has become a big amount what we see in the time August 1st movement. We need that to reduce the earlier value then we can worry about the satoshi's cost. There are good chances to see 1 satoshi pricing $1 on long term. But first 1 satoshi must cost 1 cent, then 10 cents, only much time after we need to worry about 1 satoshi = $1. I agree with you, a big problem is the transaction cost in BTC, that is high. Doesn't worth to have BTC pricing a lot, but the transaction fee being high as well... |
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Kunlejoe0
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August 25, 2017, 06:31:06 PM |
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Impossibility is nothing when it comes to bitcoin who would have thought bitcoin would ever rise to 4k +
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el kaka22
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August 25, 2017, 06:59:33 PM |
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If the price of 1 satoshi manage to get to $1, there will be a lot of millionaire made in this world suddenly,
Bitcoin is going to produce millions of millionaires and no one has nothing to do with that. When iron industry evaluated, it produced hundreds of people millionaires and when software industry evaluated, thousands of people became millionaire and billionaire too. So, this is the time for crypto world. I don't think it will ever happen because I can't imagine how much will it cost for the sender to send one transaction to another user if the value of 1 satoshi is $1.
You never need to worry. When one satohsi will be valuing one USD, we can assume that we will be capable of diving one satoshi into another 100s or 1000s smaller units. |
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xPPx
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August 25, 2017, 07:47:03 PM |
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It's possible with inflation. 1 satoshi would equal $1, but a new Honda Civic would cost $10M, so...
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Ararbermas
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August 27, 2017, 12:07:54 PM |
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I think if the value of 1 satoshi became 1$ this kind of currency will be acknowledge worldwide. All people in this world will be panic . Cause claiming 1 satoshi is very easy.i think that faucet that have a free claim satoshi will disappear if the value of 1 satoshi is 1$. And if that things happened all of people will be interested and so on bitcoin will be legal in public?
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Quidat
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August 27, 2017, 02:35:21 PM |
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Yes,of course.when bitcoin price goes very high beyond the limit of a normal person,then he could not afford to buy a bitcoin as a whole.So,in such situations,the price of even a satoshi could cost more say $1.So,we would be buying satoshis at that time either by signature campaigns or by trading or by completing some works like programming,etc.The word satoshi would be mostly used in future.
Lets assume that bitcoin would reach that point that 1 satoshi = 1$ and talking 1 bitcoin = 100M usd too which its really an impossible thing and I cant really think off even on my dreams if that would happen and I'm sure most goods and needs on this world do cost too expensive which would be 1000x more compared on the price of todays. Knowing that if bitcoin would be on that state we would really presumed that it is already on the mainstream. |
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aakashsangwan
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August 27, 2017, 02:40:59 PM |
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So when 1 satoshi would become $1 then we would also have to think about bitcoin transaction fee, as it would become $50k to $100k which I think is pretty much the salary of a PhD teacher per year. So by then I believe off chain transactions would be "The Thing".
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Idrisu
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August 27, 2017, 03:46:25 PM |
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We are expecting such beautiful days to come and this is were bitcoin will really represent the idea of the founding fathers. One satoshi equal to one $1 will make bitcoin number one currency in the world. I can speculate that before 2025 0.00001btc will be equal to $1. The best thing to do now as I do encourage long term investors is to buying bitcoin now as much as you could and in future you will become multi-millionaire in dollars.
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iv4n
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August 28, 2017, 12:51:25 PM |
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We are expecting such beautiful days to come and this is were bitcoin will really represent the idea of the founding fathers. One satoshi equal to one $1 will make bitcoin number one currency in the world. I can speculate that before 2025 0.00001btc will be equal to $1. The best thing to do now as I do encourage long term investors is to buying bitcoin now as much as you could and in future you will become multi-millionaire in dollars.
How much is the prize on faucets this days? If its around 100 satoshis that is great I remember the days when prize from faucets was close to 1000 satoshis per claim, and in some even more. If 1 sat. Is equivalent to 1 dollar then all this time spent on claiming faucets will be rewarded. When we can expect this price to come, in 10 or maybe 20 years? It will not be any time soon, I have faith that this will happen once but not so soon. Calculations are simple here 1 sat. to be 1 dollars needs 1 BTC to be 100 million dollars, and bitcoin market cap x21 million coins. That is huge, when you put things like this maybe we will not be live to see 1 satoshi = 1 dollar in our lifetime. |
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arseaboy
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August 28, 2017, 01:17:35 PM |
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We are expecting such beautiful days to come and this is were bitcoin will really represent the idea of the founding fathers. One satoshi equal to one $1 will make bitcoin number one currency in the world. I can speculate that before 2025 0.00001btc will be equal to $1. The best thing to do now as I do encourage long term investors is to buying bitcoin now as much as you could and in future you will become multi-millionaire in dollars.
How much is the prize on faucets this days? If its around 100 satoshis that is great I remember the days when prize from faucets was close to 1000 satoshis per claim, and in some even more. If 1 sat. Is equivalent to 1 dollar then all this time spent on claiming faucets will be rewarded. When we can expect this price to come, in 10 or maybe 20 years? It will not be any time soon, I have faith that this will happen once but not so soon. Calculations are simple here 1 sat. to be 1 dollars needs 1 BTC to be 100 million dollars, and bitcoin market cap x21 million coins. That is huge, when you put things like this maybe we will not be live to see 1 satoshi = 1 dollar in our lifetime. chances to witness that is low but it will happen if this investment will continue to proceed and every single support from the big whales are still there for sure we will see 1 sat = 1$ just cant imagine how rich am I if I started to save at least 1 btc for my families future. |
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hous26
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August 28, 2017, 01:19:37 PM |
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So when 1 satoshi would become $1 then we would also have to think about bitcoin transaction fee, as it would become $50k to $100k which I think is pretty much the salary of a PhD teacher per year. So by then I believe off chain transactions would be "The Thing".
LOL ouch. These Bitcoin transactions fees have got to come down, right? |
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Answerme2
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August 28, 2017, 02:38:18 PM |
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Bitcoin has always proved that it can rise unimaginably to new ATH in short time $1 per satoshi is possible in the furture and it's no denying the fact that many of us didn't expected a year ago that bitcoin will be 4300$ in aug 2017 but it happened.
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