One Satoshi, From Which National Money Are More Valuable?

[SkyLords]

This is very important information, we are among the people who witnessed history. Currently the currencies of the countries listed below are lower than 1 satoshi. So 1 satoshi is now past the value of these moneys. This is an event that will go down in history and we have witnessed the history of us who have learned this information.

As of 05.09.2019, 0.00000001 Bitcoin that is 1 satoshi 0.00011 USD.

0.00000001 Bitcoin worth more than 1 of the following currencies:

1- Iranian Rial (1 piece = 0.000024 USD)
2- Vietnamese Dong (1 piece = 0,000043 USD)
3- Indonesian Rupiah (1 piece = 0,000070 USD)
4- Guinean Franc (1 piece = 0.00011 USD)
5- Sierra Leonean Leone (1 piece = 0.00011 USD)
6- Laotian Kip (1 piece = 0.00011 USD)
7- Uzbekistan Som (1 piece = 0,00011 USD)
8- Venezuelan Bolivar (1 piece = 0,000043 USD)

The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.

[1Referee]

I get why people like these metrics from a perma bull perspective, but there is no way to spend a single satoshi on-chain without paying a fee 500-1000x higher than the amount you want to transact with, and this is when the network isn't experiencing much activity, otherwise the fees are even higher. It's not an advantage when you can't utilize it.

In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.

[bitmover]

I get why people like these metrics from a perma bull perspective, but there is no way to spend a single satoshi on-chain without paying a fee 500-1000x higher than the amount you want to transact with, and this is when the network isn't experiencing much activity, otherwise the fees are even higher. It's not an advantage when you can't utilize it.

In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.

Additionally, a currency that is worth less than one satoshi doesn't mean anything. Live cost can be pretty high in those places, and 1 of those currencies is worth nothing.
just like 1 satoshi is worthless to us (cannot even be transacted), a currency which is worth less than 1 satoshi per unit, that unit is worthless as well.

You cannot buy a lunch with 1 satoshi in Venezuela. Everything there is calculated in thousands or millions. We lived that in Brazil few years ago. And from time to time government just cut off 3 zeros from fiat value, and life goes on.

Those metrics are just useless...

[pooya87]

Live cost can be pretty high in those places, and 1 of those currencies is worth nothing.

i haven't done extensive comparison but the cost of living is usually a lot higher in developed countries. in these underdeveloped countries with a local currency of such low value the cost of living isn't that high specially since the "quality" of life is not that high either. what exists is a big inflation that is dropping the value of their currency. on top of that they keep printing more of their fiat which makes everything worse.

[davis196]

OP,why do you think that this is "very important information"?
Who cares about the national currencies of Iran,Indonesia,Vietnam,Venezuela,Uzbekistan,etc?
That info doesn't mean anything.People in those countries seem to be OK with their national currencies(maybe except Venezuela)and I don't see these countries adopting bitcoin anytime soon.

[Darker45]

Did you discover this on your own or you based this on someone else's tweet? This looks familiar to me. I might have come across a similar tweet earlier, not sure if exactly just like yours. Yours might have been a little enhanced.

Anyway, it does not actually matter whether a country's currency is cheap or not, or less than the value of one Sat or a dollar. It does not necessarily mean they are poor, or their currency is less worthy, or their economy is at the bottom. For as long as their currency is working well, there is no problem. This is not a big deal, therefore.

Let us take, for example, the case of Indonesian Rupiah. A single Indonesia Rupiah may only be worth 0.000071 USD right now. But you have to consider the fact that even children there could easily become millionaires. An ordinary citizen could easily buy a single serving of a particular viand worth 30,000 Indonesian Rupiah.

[DdmrDdmr]

<…>

I can’t wrap my head around why the OP conversions are in (fractions of) USD, if the idea is to compare national currencies to Satoshis. Shouldn’t the information be expressed in Sats?  Regardless, the comparison is merely anecdotal, and lacks any further implications.

[TheBeardedBaby]

I guess the OP was checking tweeter lately and saw this >

https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet

[buwaytress]

I get why people like these metrics from a perma bull perspective, but there is no way to spend a single satoshi on-chain without paying a fee 500-1000x higher than the amount you want to transact with, and this is when the network isn't experiencing much activity, otherwise the fees are even higher. It's not an advantage when you can't utilize it.

In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.

I can spend it with just over 100 satoshi, but yeah your point stands. I can spend 1 satoshi only with a fee over 100 times higher than that, and I'd be creating a dust input in the receiving wallet that will only be a burden if it is ever spent. More likely, it will sit untouched forever. Like all the other dust balance wallets abandoned.

We should also conceded though, that one day 1 satoshi might be enough to buy something of useful value... and 1 unit of any of those currencies above is not even accepted tender anywhere locally. We'd definitely need Lightning to be more widespread and mature first!

[Darker45]

I guess the OP was checking tweeter lately and saw this >

https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet

That's exactly what I'm referring to here:

Did you discover this on your own or you based this on someone else's tweet? This looks familiar to me. I might have come across a similar tweet earlier, not sure if exactly just like yours. Yours might have been a little enhanced.

He should have cited where he got the idea. 

[SkyLords]

I guess the OP was checking tweeter lately and saw this >

https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet

That's exactly what I'm referring to here:

Did you discover this on your own or you based this on someone else's tweet? This looks familiar to me. I might have come across a similar tweet earlier, not sure if exactly just like yours. Yours might have been a little enhanced.

He should have cited where he got the idea.  

I didn't see this on Twitter. A friend of mine message me on Facebook. I just wanted to share with you. You say that like I did something bad. The aim was to share information with you. I saw it for the first time on Twitter when you shared the link.

[pakhitheboss]

  Copy and Paste.

You should have checked for other countries like Argentina and all South Asian countries except India.  I am sure there are more countries in this region that could have been added to the list and a few African countries too.

This list does not make any sense, what were you trying to accomplish with this list? 1 Satoshi does not solve the cost of living in these countries. With the declining economy, the cost of living in these countries has already touched the moon.

The comparison is a waste of time.

[acroman08]

I guess the OP was checking tweeter lately and saw this >

https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet

That's exactly what I'm referring to here:

Did you discover this on your own or you based this on someone else's tweet? This looks familiar to me. I might have come across a similar tweet earlier, not sure if exactly just like yours. Yours might have been a little enhanced.

He should have cited where he got the idea.  

I didn't see this on Twitter. A friend of mine message me on Facebook. I just wanted to share with you. You say that like I did something bad. The aim was to share information with you. I saw it for the first time on Twitter when you shared the link.

you could get banned from this. I suggest you edit and properly credit the original source or include the link on your post to avoid being ban. copy pasting is one of the most severe crimes in this forum.

[yazher]

I expected Indonesian Ruppe was the less valuable currency on the planet I never know it was lower than 1 satoshi and yet there is some National currency that are lower from that look Iranian Rial only cost 0.000024 USD per piece? and they are facing sunction from the United States this country need to adopt crypto Currency to be able to survive.

After a year if the price of Bitcoin will continue to grow this list of yours will be updated for sure. Imagine in the Next 10 years 1 satoshi will also cost 1$? this is not impossible because of the huge demand on the market.

[Kakmakr]

Copy and Paste.

You should have checked for other countries like Argentina and all South Asian countries except India.  I am sure there are more countries in this region that could have been added to the list and a few African countries too.

This list does not make any sense, what were you trying to accomplish with this list? 1 Satoshi does not solve the cost of living in these countries. With the declining economy, the cost of living in these countries has already touched the moon.

The comparison is a waste of time.

No it is not a waste of time. People in these countries are suffering because their governments are not protecting the value of their wealth and they are making bad decisions that influence their local economy and the value of the Fiat currencies.

People should highlight weak currencies like this and the citizens of those countries should consider storing their wealth in Bitcoin and not in their own local Fiat currency to protect the value of their wealth. <This was done by citizens in other countries, like Greece / Zimbabwe etc. > 

[Alert31]

One satoshi is worth nothing like other fiat currency. You can't buy anything in just one single cents or one satoshi,so i think comparing of one satoshi to a fiat currency is nothing because it will become value if it has a higher amount. It needs thousands of ssatoshi before you can use it to buy or to make any transaction.

[Velkro]

I get why people like these metrics from a perma bull perspective, but there is no way to spend a single satoshi on-chain without paying a fee 500-1000x higher than the amount you want to transact with, and this is when the network isn't experiencing much activity, otherwise the fees are even higher. It's not an advantage when you can't utilize it.

In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.

Agree, with this fees Bitcoin is more like Gold/store of value than currency.
Payments are just too expensive for everyday use. Lighting solves this, but didnt have time yet to research it. I mean, there was many technologies that failed like color coins etc. After lighting will have its success will study it a lot.

[sureshverma]

The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.

This list will really expand, but in fact this money itself is not so important for the world economy, that's if bitcoin affects the dollar or yuan...

[CryptoBry]

The intention of the comparison can be that Bitcoin is now really valuable compared to different currencies of different countries. Well, on that case, we actually do not anymore convincing that this can be true. And in many cases, fiat currencies are losing value due to many factors primarily inflation and in some cases decree or actions of the leadership of the country. While I don't believe that fiat currencies should and will be abolished, I am so convinced that cryptocurrency is here to stay though there is a big chance that evolution by means of innovations will keep on going.

[TheBeardedBaby]

We cannot say if the OP found the source of his information on Twitter or maybe found this website and use it as a source : https://fiatmarketcap.com/ (use it on your own risk)
The only thing what is missing is his sources.

@OP with the current situation with the spam in the forum it's completely normal people to be a bit more rough at you. Many lost their accounts because of plagiarism, and the only way to avoid plagiarism is to cite your sources when you post.

READ THE RULES!!!