I am just wondering what will happen when Bitcoin price hits say, $50,000. Even with the current price, $1000 will get you like
BTC0.06 (at time of post), so when the price hits $50,000 (and I believe in it to do so) and if everyone is using it everyday to buy things such as groceries, surely something needs to change so people aren't having to calculate like
BTC0.000000015 to buy a loaf of bread. I guess what I'm asking is, is there a unit of measurement in between 1
BTC and 1 Satoshi? As the price rises, $10 becomes even less and the zero's keep moving in after the decimal point.
E.g. (we are now 5 years into the future and
BTC1 has a value of $50,000)
I go into a shop and want to buy a jacket, its $100, but I want to use BTC to pay for it (
BTC0.00012), I know that it will be automated in a shop where the value in dollars would be taken from your wallet but when its not automated and the users are having to make these calculations it doesn't seem user friendly to me. Maybe its not supposed to be.
I apologise for the some what confusing post and I hope I have expressed my thoughts accurately enough for you to understand what I mean, it seemed so clear in my head!
In short, as the price rises, is something going to re-adjust to the new price or are the decimals just going to keep getting smaller?
Please let me know if this post is not allowed here
Thanks for reading and I hope it makes some sense to someone!
Kind regards