Currencies worth less than Satoshi

[avikz]

Some countries have currency that has somehow over inflated value but not necessarily means they are very poor. They might have low currency exchange rate but paying thousands or hundred thousands in their currency is the norm and each paper might have such high number. It's not like everyone bringing thousands of paper money just to buy egg and honestly this kind of comparison rather pointless but still not a bad thing to point out that some countries have currency with lesser value than satoshi which is a very tiny fraction of bitcoin  which kinda silly.

I think the point of this discussion is to show a basic difference between bitcoin and a government owned currency. While the government owned currency is prone to inflation risk, the cyrptocurrency like bitcoin is inflation adjusted. Bitcoin works in the basis of scarcity model where the supply of bitcoin is constantly diminishing which is not the case with the traditional fiat currencies! That's what OP mentioned - "Who know, maybe after a few years we will see famous and more powerful currencies on this list."!

The basic of scarcity model is that the purchasing power of a currency following this model is set to increase while the traditional currencies that follows debt based model is set to decrease. OP Didn't mention how poor these currencies are, rather it's just a matter of purchasing power of a currency, really!

[Ucy]

I surprise. fortunately there is no country currency whose value = satoshis, at least they are 1 or 2X more expensive. It is logical, because 1 bitcoin is equal to 19,000 $, $ is the dollar with the most expensive price, especially when compared to other countries' currencies. so if bitcoin is currently used as a world currency, many countries will disagree

Interesting.
I think every country can still have its own token and stablecoin, and prioritize on them.... then allow their citizens to use Bitcoin if they choose to.
This model would work well on Multi-Blockchain Network that allows Nation/private Blockchains to detach from the whole Network if they need to.
The whole Network can have main native coin (Bitcoin)

[Alucard1]

That is an interesting list of countries worth less than Satoshi, I just notice that even those countries included in the list, some of them are not ta poor countries, so it only means that it just gets different because of the low exchanges happen in their country.

I wasn't aware that there would still be a currency that would be worth less than Satoshi.
I wonder how much would it cost to live there and if they could survive with the only crypto?

I have read before in an article that millisatoshi has a smaller value than a satoshi, I just forget the value of it and if this is a legit one, is there anybody knows about it?

[bitmover]

I think bitcoindata.science website that Bitmover made is offering option to convert Satoshi to VES in real time, but I can't find others like IRR and VND for example. Maybe he can add more fiat options in future.
Bitcoin Unit Converter:🔁Convert satoshi, mBTC,Finney, bit to 43 fiat currencies
website: https://bitcoindata.science/bitcoin-units-converter.html

For cost of living subject, I wrote an email to owners of numbeo.com website and asked them to add Bitcoin to the list of currencies

Thanks for mentioning my project.

I noticed that some currencies were missing. I added those ones:
IRR
VND
ZWL
GNF
LAK
UZS
SLL

Tell me if you miss any other. Thanks.

[oHnK]

I'd be interested to know which country that is, but of course I respect people's need for privacy.  Either way, I always find it interesting when people from economically-depressed countries weigh in here about bitcoin vs. their local fiat currency.

It is nice to hear a perspective coming from one of those countries mentioned by the OP. And recognize the importance of bitcoin in your current situation.

I am very open about my perspective regarding the economic development of my country. I am very aware of how fiat money is very vulnerable to inflation because it is regulated by a centralized institution. Bitcoin is an attractive investment for me because it has proven not to be affected by the problem of inflation, Bitcoin is also like digital gold which is more liquid in my opinion to be maintained as a personal portfolio.

[Cling18]

It's surprising and interesting to know that Satoshi has a huge edge in other currencies. I guess those countries need to adopt cryptocurrency as a currency though we all know that it's hard for crypto to replace a national currency. I hope that more people would be enlightened about the importance and value of crypto as a currency.

[slapper]

Outstanding price of bitcoin. I never thought that one day, bitcoin could be more valuable than other currencies

Actually, bitcoin can worth even more if you use Currency Market Capitalization as a measure. Bitcoin market cap is now $336,287,424,932 and it is at rank 37 according to Fiat marketcap



So it is apparent that bitcoin is stronger than a hundred of countries. Moreover, it is decentralized. No one can control its value and there is no sight that bitcoin will stop gaining more and more attention from investors. Soon, bitcoin will become the strongest currency on this planet

[FanEagle]

I doubt that it would really matter that much how much we care about fiat currencies that are this worst, I mean they are all aware of the situation so there is no real doubt that they do not want it neither, they do not want to worth less than 1 satoshi at all, but this doesn't really mean that they are all horrible neither just because it is a lot of numbers.

Japan for example spends millions for regular stuff, like it is a few million to get just one apple just to give an example, this doesn't mean they have a bad currency, they just did it that way and use to the situation that way and that's it. Hence I doubt that it would really matter that much for anyone, the bad ones know they are bad without comparing it to satoshis, and good ones do not really care.

[MCobian]

It turns out that most countries that have worthless currencies than 1 satoshi come from the Asian continent,
According to some information, most of these countries did a lot of printing money which resulted in hyperinflation.
So we don't need to be surprised if the country's currencies on the opening post list are worthless than 1 satoshi.
Indeed, the country must have a cost of living that is not expensive, maybe relying on income from cryptocurrency
can cover daily needs.

[adzino]

All those fiat currencies that you have mentioned has some very bad inflation history. I am sure the list is actually larger. This once again proves that how fragile the current fiat system is. Imaging how badly those inflation rates are hurting the economy of the country. Look at Venezuela. They had to replace their currency from VEF to VES to counter the hyperinflation. But trust me taking all those measures are worthless. Give few more decades and you will see those currencies collapsing too. I wouldn't be surprised if those countries starts to choose cryptocurrencies as their official currency.

[FlightyPouch]

It's surprising and interesting to know that Satoshi has a huge edge in other currencies. I guess those countries need to adopt cryptocurrency as a currency though we all know that it's hard for crypto to replace a national currency. I hope that more people would be enlightened about the importance and value of crypto as a currency.

Even though the value of each fiats is that low, I don't think that also means that you could live there in luxury just by having some mBTCs. They just have this worst inflation rate. I am not happy about this information, I am sad and kind of disappointed to what happened with their currencies. They don't need to adopt crypto currencies, their fiat's value are low and you still want to add their problem with fees.

[Terrell]

Just one satoshi or 0.00000001 BTC is worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, and 1.1 Indonesian Rupiah.

[uneng]

It's surprising and interesting to know that Satoshi has a huge edge in other currencies. I guess those countries need to adopt cryptocurrency as a currency though we all know that it's hard for crypto to replace a national currency. I hope that more people would be enlightened about the importance and value of crypto as a currency.

Even though the value of each fiats is that low, I don't think that also means that you could live there in luxury just by having some mBTCs. They just have this worst inflation rate. I am not happy about this information, I am sad and kind of disappointed to what happened with their currencies. They don't need to adopt crypto currencies, their fiat's value are low and you still want to add their problem with fees.

If they adopted crypto currency, especially bitcoin, it would be totally positive, I believe. This way the inflation would stop eating their money's value and they could keep a strong currency on their hands for a long time without worring about depreciation. On long term their purchasing power would even keep increasing compared to those dealing only with fiat.
However, even 1 satoshi being more valuable than these hyper inflated currencies, it doesn't mean this 1 satoshi will buy many things on these countries, because you will need hundreds of thousands of those local currencies to buy some products and pay for some services.

[iamsheikhadil]

Very interesting! Thanks for this information. I wonder if there can come a time when 1 Satoshi can equal 1 euro  it's funny tbh, because after all it's like having some of these currencies in your pocket and then realize you have to have tonnes of these to purchase a candy  Bitcoin as it grows bigger, will make even one Satoshi so high that people might regret not holding one Satoshi

[error08]

Bitcoin was trading for more than 19,000 usd during a few days ago. Satoshi is the smallest unit of bitcoin and one bitcoin is equal to 100,000,000 satoshi. You may not believe it but there are some currencies worth less than 1 Satoshi. There are many reasons to see these currency units here, such as inflation rate.
Who know, maybe after a few years we will see famous and more powerful currencies on this list.

Interesting, but what sources you used to check the rates?
I think most of us know about Venezuela national currency and how bad it is, but the even more interesting would be to see cost of living in those places and what can you really (not) buy for 92.9 VES.
Let's use for example numbeo.com website to check this out (btw. someone should add Bitcoin to Numbeo or make similar website with BTC and Satoshi)

For example one 0.33 water bottle is: 813,492.55 VES (~4764 sats) and one loaf of white bread (500g) is 1,722,932.91 VES (~10130 sats)

that's the mainline of a fiat currency, whether it is worth something or not.
For example, there is no 2.80 in IDR which is 1 satoshi, the minimum is 100 IDR but it's worth nothing if you ask people there, since inflation has rendered it unusable except for bank notes, at least 1000 IDR (almost worth nothing) and depends on the continent it requires at least 10,000 IDR ($0.71) or 20,000 IDR ($1.43) to buy a bottle of water or a loaf of bread.