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Author Topic: One satoshi for $1 dollar will occur someday  (Read 786 times)
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February 11, 2020, 07:45:22 PM
 #41

At some point in time, people will use every day satoshis as a unit of currency in order to buy things like vegetables, groceries in general.

Satoshis will become the new money standard in people's daily life. Thanks to the scarce 21 million BTC as a maximum supply of this blockchain.

The more the whole bitcoin unit keeps expanding its price, the more value a satoshi also will have. We can see this happening already with some mining companies, crypto casinos, bitcoin faucets providing each week fewer satoshis as a reward, and also we see people working for satoshis, in order to increase their satoshis/bitcoin balance!

It sounds vastly unrealistic! If Satoshi value reaches to that level and if the world mass starts using bitcoin for their daily use - just imagine the number of transactions the network will have to handle! At the current state, bitcoin network is simply not capable of handling such volume! I am not being pessimistic here but realistically thinking the situation!

Yes at this time it looks unrealistic.

Perhaps before we go that far in comparison the best way to put it is to say when 1 satoshi reaches the price of $0.01 dollar; then that would be 1 bitcoin = 1,000,000 which is closer than $1 dollar for sats, in terms of time.

And Lightning network is something that will help to handle a lot of tx per second.







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February 11, 2020, 10:34:44 PM
 #42

OHYA that's big.  Its very possible. The adoption of of mobiles phones where we can assume everyone has wallets that works like Swiss banks, the price spike rate may be faster. 21M BTC is not enough for all the people in the world seeing some individuals today has more than 100K BTC in their wallets whiles some of us only have about 0.05 BTC as part of their retirement plan.

It wont really be enough yet there would be inequality in terms of overall supply of BTC.If demand is high then we might see big numbers but im not really into that hopes of 100M/Coin.
Its just too unrealistic even if im bullish with btc but it wont really come into that certain extent to believe into those numbers.Reaching previous ATH would be much more realistic
or eve $30-40k is reasonable.

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February 11, 2020, 11:44:17 PM
Last edit: February 12, 2020, 01:51:00 AM by STT
 #43

BTC wont be taking over every type of currency I doubt, I dont even think the domination of USD since ww2 will be repeated again for a while.    BTC value will rise but also the dollar value people use as reference is going to drop as well, they are inverse in that way.     They'll be more variety of currency types in future, thats my take not so much technology point of view but I think politics and global trade will shift.

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February 11, 2020, 11:56:03 PM
 #44

I see it coming to pass one day too, it's only but a matter if time. When more adoption and exposure occur.
However, the way we handle it now speaks more of the future. Nowadays, almost 70 percent of those who own Bitcoin are hodling for when the price will increase to sell for profits. Some hardly want to spend their Bitcoin. Its makes it look like Bitcoin is just for profit and not for payment. I just hope this won't affect the future of Bitcoin.
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February 12, 2020, 11:34:16 AM
 #45

I see it coming to pass one day too, it's only but a matter if time. When more adoption and exposure occur.
However, the way we handle it now speaks more of the future. Nowadays, almost 70 percent of those who own Bitcoin are hodling for when the price will increase to sell for profits. Some hardly want to spend their Bitcoin. Its makes it look like Bitcoin is just for profit and not for payment. I just hope this won't affect the future of Bitcoin.


More adoption and more exposure is always occurring! That does not necessarily translate into price increase at all and we can see this from the hundreds of stagnating projects where numbers slowly creep up.

Not sure also where you get your 70% hodling numbers from, but it can't always be just hodlers for the sake of holding if you still want actual adoption to go up.

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February 12, 2020, 12:11:30 PM
 #46

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.
not even in the next 20 years i guess?and by that time all Bitcoin yet been mined so the more the value may not go that High.

and 1BTC per 1 is far from our imagination,we still in struggle about Governments interruptions so once the majority gets adoption then maybe we will see the light towards that Huge amount of conversion .









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February 12, 2020, 03:20:36 PM
 #47

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.
not even in the next 20 years i guess?and by that time all Bitcoin yet been mined so the more the value may not go that High.

and 1BTC per 1 is far from our imagination,we still in struggle about Governments interruptions so once the majority gets adoption then maybe we will see the light towards that Huge amount of conversion .
I also agree I think it wouldn't really be that high just imagine the transaction fee when 1 sats become $1.
And if it ever reach that high it would be hard to pay for some ¢ since1 sat is already $1 how about the cent's?

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February 12, 2020, 03:33:55 PM
 #48

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.
not even in the next 20 years i guess?and by that time all Bitcoin yet been mined so the more the value may not go that High.

and 1BTC per 1 is far from our imagination,we still in struggle about Governments interruptions so once the majority gets adoption then maybe we will see the light towards that Huge amount of conversion .
I also agree I think it wouldn't really be that high just imagine the transaction fee when 1 sats become $1.
And if it ever reach that high it would be hard to pay for some ¢ since1 sat is already $1 how about the cent's?

Bitcoin can be divided deeper than 1 satoshi so this isn't an issue....
We could go nanosatoshi or whatever....

Bitcoin is like a box of chocolates. You never know what you're gonna get !!
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February 12, 2020, 06:49:47 PM
 #49

BTC wont be taking over every type of currency I doubt, I dont even think the domination of USD since ww2 will be repeated again for a while.    BTC value will rise but also the dollar value people use as reference is going to drop as well, they are inverse in that way.     They'll be more variety of currency types in future, thats my take not so much technology point of view but I think politics and global trade will shift.

We don't know yet which currency will become the popular one, we can guess it will be bitcoin for being the first one. But the list of many better altcoins are getting more popularity and when people realize the good features of those altcoins then they will start buying plenty of them, today is btc turn but soon it will be altcoins turn!

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February 12, 2020, 08:02:51 PM
 #50

At some point in time, people will use every day satoshis as a unit of currency in order to buy things like vegetables, groceries in general.

Satoshis will become the new money standard in people's daily life. Thanks to the scarce 21 million BTC as a maximum supply of this blockchain.

The more the whole bitcoin unit keeps expanding its price, the more value a satoshi also will have. We can see this happening already with some mining companies, crypto casinos, bitcoin faucets providing each week fewer satoshis as a reward, and also we see people working for satoshis, in order to increase their satoshis/bitcoin balance!
Assuming that happens the question is what you can buy with that satoshi when that happens, if the dollar went through hyperinflation it is likely that dollar is not going to be enough to buy anything so the ratio of one dollar for one satoshi may not be significant at all at that point in time and it could be argued whether we are going to measure the price of bitcoin against dollars at all.

However if that happened when the dollar still has some purchasing power then that will be a great victory for bitcoin and all of us which have supported it for years.

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February 12, 2020, 09:36:47 PM
 #51

We don't know yet which currency will become the popular one, we can guess it will be bitcoin for being the first one. But the list of many better altcoins are getting more popularity and when people realize the good features of those altcoins then they will start buying plenty of them, today is btc turn but soon it will be altcoins turn!

History repeats is how I would expect to predict what is a successful product in future and BTC is something that must provide utility in a competitive comparison to other standards possible.   The most probable reason for BTC to be superior to other blockchains is it operates the most difficulty to break and compromise, this gives it a standing advantage in every other consideration.   The best use of money is for security, provision of value that continues overnight and to days where the holder can use value previously accumulated.  
   There are other considerations like ease of use but I think gold proves society will form around a standard so long as its reliable, exchanging precious metal isnt as convenient at BTC can be but I would still estimate gold could prove a more widely used standard in future because of this security element to it where it cannot easily be compromised by any single nation.     Alt coins have to prove themselves as capable both in security and go onto be superior in multiple usage paths like speed of confirmation, etc.

   The easiest point to make on BTC for usage by every member of a nation is ease of use, its still not achieved a level where its like a remote control.   It has to become completely non technical I think, computers were ignored by a majority until mobile phones came out and that was the tipping point.   Hopefully we do see BTC achieve some kind technological singularity where it is essential and clearly superior to FIAT, the price is secondary and will only come after widespread acceptance, usage and reliance.

https://en.wikipedia.org/wiki/Technological_singularity

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February 12, 2020, 10:12:01 PM
 #52

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.

If this happen John Mcafee will be so proud that it reaches 1 million dollar per Bitcoin but I doubt John Mcafee will ever to see this price happen or even people of this generation, the most that I can see of Bitcoin Price in my lifetime could be $200 k but it could happen 30 to 40  years from now.
He is going to be proud? You probably aren't updated with the recently news. He used to support bitcoin back then and made an absurd bet. But lately he backed off and took a negative stance against bitcoin. He started calling bitcoin a shitcoin. He now considers bitcoin as a coin with ancient technology and believes that there are other tons of alt coins that can dominate the market and are going to be considered a true crypto coin.

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February 12, 2020, 10:27:12 PM
 #53

lol McAfee should write fictional books or stories but he finds trolling less effort.   I dont know why people want to take what he says as serious or reliable.
   The only important point to take away is alt coins are willing to pay and finance his opinions, for a small player like himself the choice is with alt coins.   BTC is going to pay him zero, the idea to promote is that alt coins take over the BTC eco system.
  I wont dismiss the idea outright, if you have the skill and good judgement also luck to find an alt coin that will find a foot hold in crypto then well played.    Ive no doubt the amount of growth realised in any capital invested in a successful idea would be worth making time for that idea.   Its just the new ideas will not result in success, perhaps 99% do not genuinely make progress or become part of the wider phenomena.   Meanwhile BTC is likely around for decades it seems and that though boring to some is revolutionary to the wider world.   I'm still off on $1 sat though.

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February 12, 2020, 10:58:44 PM
 #54

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.

Looking by these numbers seems literally impossible to reach, but who knows, this will become the price of each sats. Though the probability of this to happens is below 1%, still some crypto enthusiast will put their faith for this.
I can't also imagine how much 1 Dollar would cost in the future if this happened. For sure 1 Dollar would cost less compared today.

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February 13, 2020, 12:16:32 AM
 #55

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.

If this happen John Mcafee will be so proud that it reaches 1 million dollar per Bitcoin but I doubt John Mcafee will ever to see this price happen or even people of this generation, the most that I can see of Bitcoin Price in my lifetime could be $200 k but it could happen 30 to 40  years from now.

We can say for sure, who knows it will really reach one million per bitcoin but I guess it’ll take more years perhaps 40 years or more. Bitcoin has a limited supply and satoshis are almost mined so with the scarce nature I think the price will rise once bitcoin will be used as another mode of payment. Anyways, t is still a long way for bitcoin and well see what’s gonna happen in the future, whats important now is that the price is showing a good trend so far and hopefully it’ll continue.
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February 13, 2020, 03:06:57 AM
 #56

1BTC = 100,000,000 satoshis

It will be $100,000,000 = 1BTC

It is gotta be a long journey until we will see that time happens.

If this happen John Mcafee will be so proud that it reaches 1 million dollar per Bitcoin but I doubt John Mcafee will ever to see this price happen or even people of this generation, the most that I can see of Bitcoin Price in my lifetime could be $200 k but it could happen 30 to 40  years from now.
He is going to be proud? You probably aren't updated with the recently news. He used to support bitcoin back then and made an absurd bet. But lately he backed off and took a negative stance against bitcoin. He started calling bitcoin a shitcoin. He now considers bitcoin as a coin with ancient technology and believes that there are other tons of alt coins that can dominate the market and are going to be considered a true crypto coin.

If that is the case, he is right bitcoin doesn't have extra features like PoS, Smart contracts yet, or any additional features like privacy or something that people can use every day other than being a store of value and transfer.

But with the time that can change, there are a lot of developers working to bring to bitcoin those and more features, like RSK with smart contracts running on the bitcoin blockchain.


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February 13, 2020, 06:06:29 AM
 #57

It could be in the future but, I think, it would take long time for the value of Bitcoin to reach that price. Realistically, it is hardly possible, a satoshi in the present can't be compared in a dollar, taking tens of thousands of satoshi for a bucks.

Anyways, future is always full of surprises and uncompromises, who would have thought maybe crypto currency platform would become a more valuable asset in the next years.
Bitcoin is unlikely to ever have a price of one million dollars. One hundred million dollars it will never cost. This is simply unrealistic, despite many optimistic forecasts in this regard. With such a high level of price volatility, it will fall in price much earlier than it can reach high price values.

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February 13, 2020, 06:51:14 AM
 #58

Well for that to happen Bitcoin must be extremely expensive first. 100,000,000 satoshi worth 1 Bitcoin, this only means that it would be a long way run, in fact it is almost impossible to happen.
I like the way of being optimistic that it would reach worth of $1 but this is so unrealistic even if the market is volatile.

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February 13, 2020, 07:26:21 AM
 #59

while i am very proud reading threads like this but it is too much to expect mate,meaning Bitcoin will reach $100 million dollars in future?sorry but this is very huge to look as reality.
but who knows right?if we can even make a x100 for 2 years since 2015-2017 so what more in another 50-100 years?
hoping that we can still experience those days or much better if will happen earlier for us to taste our risk and fruit in investing here.

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February 13, 2020, 08:32:24 AM
 #60

The price of 1 dollar to 1 satoshi requires one bitcoin to be 100 million dollars. That means the 18 million bitcoins would worth 1,800,000,000,000,000 total. That is 1.8 quadrillion dollars. Yes you heard it right, in order for 1 satoshi to be equal to 1 dollars, the total market cap has to be close to 2 quadrillion dollars which is far exceeding all the economies in the whole world all together combined.

So, there is either no chance that something like that would ever happen, or maybe USA will go belly up and becomes like Zimbabwe and dollar will worth nothing, which I highly doubt will ever happen with the amount of power they have over the world. In the end if you think anything above 20 trillion dollars total market cap will happen any time soon, you are quite wrong.

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