Abiky (OP)
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June 20, 2020, 02:26:57 AM |
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If Bitcoin continues to appreciate in value with every halving, while it scales according to demand in the mainstream world, we might be dealing with "satoshis" instead of Bitcoins in the future. Imagine Bitcoin's price going all the way to $1 million in the long term. It may be possible that 1 Satoshi will be equal to $0.01 USD if that happens. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon. What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated.
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suchmoon
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June 20, 2020, 02:45:57 AM |
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I can predict with a high degree of certainty that 1 satoshi will be worth 0.00000001 BTC for the foreseeable future. We don't talk about the value of 1 US cent in euros, so I don't think it makes sense to talk about the value of 1 satoshi as if it was a separate entity.
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pooya87
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June 20, 2020, 04:35:54 AM |
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price rise in the long run is mainly demand but that is not all of it. it will rise against USD partially because of the way governments are printing money out of control, specially during the COVID-19 pandemic and similar events with the huge amount they print they are causing a lot of inflation and as fiat loses value bitcoin price against fiat goes up. $1 million might seem big now but it won't be that big very soon...
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michellee
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June 20, 2020, 05:44:29 AM |
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If Bitcoin continues to appreciate in value with every halving, while it scales according to demand in the mainstream world, we might be dealing with "satoshis" instead of Bitcoins in the future. Imagine Bitcoin's price going all the way to $1 million in the long term. It may be possible that 1 Satoshi will be equal to $0.01 USD if that happens. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon. What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. I would love to see that it will happen in the future, so I don't have to use a lot of satoshis to buy something. But that will depend on the government because if the government can accept the crypto, we will have the opportunity to use bitcoin as the payment system. If the government doesn't accept crypto/bitcoin, then we need to find a way to use bitcoin, and maybe we will use it only to convert into fiat money or we can use bitcoin as what we did now.
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stompix
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June 20, 2020, 05:52:20 AM |
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What do you think the price of 1 satoshi will be in the future?
You should better focus on the value. What can you buy now with 100 000 satoshis and what could you buy ten years from now on? If somehow the value of the dollar drops to 1% of what it is now, you can be happy that the value of BTC has increased let's say 500 times, but in terms of purchasing power, the increase is of only 5. In the highly unlikely scenario that the US goes full zimbabwe, even a satoshi worth 1$ would mean you've actually not gained anything in PP terms.
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Upgrade00
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June 20, 2020, 06:23:12 AM |
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1 bitcoin being equal to $1 million would give a total market cap of $21 trillion when all bitcoins have been mined (sometime in the next 100+ years), when you factor in those lost in wallets and stuck on exchanges and also inflation in fiat currency rate, that may not be worth so much at that time and may not be able to cater for every nation's M0, Mb, M1 and M2 money supply. The best way imo, to attach value to Bitcoin would be to measure it per working hours; • I expect to receive 2 satoshis for an hour of work and would use it to purchase x and y products based on the work I put in to earn it. • based on the cost of producing x and y products, I expect to receive 2 satoshis for them. This way the value of BTC does not need to be pegged on a different currency. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon.
One doesn't necessarily need to own a whole bitcoin now.
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buwaytress
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June 20, 2020, 07:39:40 AM |
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We already deal a lot with satoshi in units -- admittedly for Bitcoin-related stuff itself like fees, but that's the start isn't it? Like considering cents for fees and stamps and micropayments. I haven't yet seen a satoshi-denominated micropayment but when you tip people online on reddit for example, that's essentially what it is. I'm okay today for ~100 satoshi = 1 cent. Next stop 10 satoshi. P.S. Why the need for "Satoshi"? Why not just satoshi?
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Oasisman
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June 20, 2020, 01:06:11 PM |
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What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. We should also consider the consistent inflation rate for the coming years. 1 satoshi might cost almost a dollar, but what If the costs of living in the future is higher than what a value of satoshi can get you today. Just like what @stompix mentioned above. The value of a Satoshi in the future won't really make any difference If the purchasing power levels or worse decreases versus the current value. However, a Satoshi might cost $1, after all remaining supply will be mined, and supply scarcity will take place.
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pokeronlinestatus
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June 20, 2020, 01:48:21 PM |
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Why the need for "Satoshi"? Why not just satoshi? I do carefully use as Satoshi to refer Mr.Satoshi Nakamotto and satoshi to denote the base unit of BTC .
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xPPx
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June 20, 2020, 06:53:21 PM |
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One cent 2050 or sooner...
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coinfinger
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June 20, 2020, 08:30:51 PM |
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I would say having satoshi that high is actually quite dangerous. I would hope that bitcoin never reaches 1 million dollar per bitcoin levels, when things are that expensive how do you plan on making the trading fee low? I mean sure you could have 50 satoshi fee type of deal that would worth 50 cents which is still not horrible and cheap but considering it is not like that even right now, how do you trust it to become like that during those days?
I am pretty sure the fee rate would go up to tens of dollars by that time if the price is a million dollars. That is why I think the best case for bitcoin should be maximum $100k per bitcoin and never more, that is enough as well we should not see bitcoin as a way of making profit after that, we should see it as a currency to be used and that's it.
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Quidat
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June 20, 2020, 09:30:08 PM |
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What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. When it comes to future talks then i can always say that no one would able to predict on what would happen in future neither bitcoin does still exist or completely being replaced by some alts. If satoshi would already come into that kind of point then just like what being said above that satoshi= satoshi which basically means that it doesnt tied up already with USD or fiat value which i do highly believe into that thing rather than saying of $1M per btc price.Its unrealistic but we are talkling about IF's here so btc might really stood up its own value without any depending with fiat itself.
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Harlot
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June 20, 2020, 09:54:55 PM |
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I really wouldn't expect the value of a satoshi would really go that up high since it would really take a whole lot of demand to do so. If you want to focus more accurately on how will the future price of Bitcoin will be you must be realistic on how things are shaping up for the mass adoption of Bitcoin or at least crypto payments in general in the future and if we are looking at the current situation you would say that we aren't on track on any kind of mass adoption for crypto right now. So with that being said we don't have that kind of demand as well as buying power to push a satoshi that high.
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buwaytress
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June 20, 2020, 10:36:10 PM |
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Why the need for "Satoshi"? Why not just satoshi? I do carefully use as Satoshi to refer Mr.Satoshi Nakamotto and satoshi to denote the base unit of BTC . Good for you but that was my point;) satoshi (all lower case) is pretty much normalised in discussions, and there's really no need to have quotation marks. Anyway, just being playfully pedantic about it, we all understood what was being referenced!
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exstasie
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June 20, 2020, 11:01:55 PM |
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I can predict with a high degree of certainty that 1 satoshi will be worth 0.00000001 BTC for the foreseeable future. We don't talk about the value of 1 US cent in euros, so I don't think it makes sense to talk about the value of 1 satoshi as if it was a separate entity.
I don't know how well that analogy works. We don't compare forex prices when buying stuff at the store. Japanese people price goods in tens and hundreds of thousands of yen. Maybe someday we will also do the same with satoshis? None of the attempts at re-denominating BTC with smaller units (mBTC, bits, satoshis) have ever caught on. However if BTC is used as a common medium of exchange and also becomes extremely valuable, a paradigm shift to pricing things in smaller units makes sense. It would be pretty weird paying for stuff in the store for amounts like 0.000001 BTC.
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monineklutak
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June 21, 2020, 01:02:28 PM |
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If Bitcoin continues to appreciate in value with every halving, while it scales according to demand in the mainstream world, we might be dealing with "satoshis" instead of Bitcoins in the future. Imagine Bitcoin's price going all the way to $1 million in the long term. It may be possible that 1 Satoshi will be equal to $0.01 USD if that happens. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon. What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. I'd rather expect 1 satoshi to be worth $ 0.1, and it's truly a wonderful day if it happens, even though many experts say that Bitcoin is a bubble, but I think it still has the power to be a useful investment
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Febo
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June 21, 2020, 04:01:53 PM |
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If Bitcoin continues to appreciate in value with every halving, while it scales according to demand in the mainstream world, we might be dealing with "satoshis" instead of Bitcoins in the future. Imagine Bitcoin's price going all the way to $1 million in the long term. It may be possible that 1 Satoshi will be equal to $0.01 USD if that happens. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon. What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. satoshi is a very low value. I do remember at some point very popular was bits. bits were 100 satoshi. When we talk about satoshis we will for some time have to mention kilo. Since less then 1000 satoshis will not be worth much.
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Twinkledoe
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June 21, 2020, 10:21:57 PM |
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I can predict with a high degree of certainty that 1 satoshi will be worth 0.00000001 BTC for the foreseeable future. We don't talk about the value of 1 US cent in euros, so I don't think it makes sense to talk about the value of 1 satoshi as if it was a separate entity.
I better like this prediction more than anything else. You can never go wrong with such value. But anyway, whatever its value in terms of USD, for sure it will go higher from where we are now. You can only speculate its future value but there's really no significance of predicting it now.
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Hippocrypto
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June 21, 2020, 11:35:08 PM |
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If Bitcoin continues to appreciate in value with every halving, while it scales according to demand in the mainstream world, we might be dealing with "satoshis" instead of Bitcoins in the future. Imagine Bitcoin's price going all the way to $1 million in the long term. It may be possible that 1 Satoshi will be equal to $0.01 USD if that happens. With Bitcoin being divisible to 8 decimal units, one doesn't necessarily need to have a whole Bitcoin if it goes all the way to the moon. What do you think the price of 1 satoshi will be in the future? Will it be worth cents (in USD), or not? Your input will be greatly appreciated. I'd rather expect 1 satoshi to be worth $ 0.1, and it's truly a wonderful day if it happens, even though many experts say that Bitcoin is a bubble, but I think it still has the power to be a useful investment Every investment is always worth to gain sustainable returns as long as it maintains a strong foundation. Every satoshi can be a good potential when the market soars back higher of its price. Meanwhile, we're still having no definite assurance to when it could cause bullrun. Many of us expected a huge rise but it was just frustrating while we're still in the midst of the pandemic.
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carlfebz2
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June 21, 2020, 11:56:56 PM |
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I can predict with a high degree of certainty that 1 satoshi will be worth 0.00000001 BTC for the foreseeable future. We don't talk about the value of 1 US cent in euros, so I don't think it makes sense to talk about the value of 1 satoshi as if it was a separate entity.
I better like this prediction more than anything else. You can never go wrong with such value. But anyway, whatever its value in terms of USD, for sure it will go higher from where we are now. You can only speculate its future value but there's really no significance of predicting it now. Predicting would be always part specially if we do deal with a speculative market.We can see unrealistic numbers and realistic ones but same as you said this is way more better other than those presumptions that we do commonly read. In regards to its value then theres no doubt that it would really still fly with colors neither it would become stand-alone or would still be on that fiat-value dependent. Nothing is assured when we do talk about future thing but we can already make out insights basing on what we are current seeing now.
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