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Author Topic: Is Coinbase going to list Satoshi on their exchange?  (Read 175 times)
virtualdn (OP)
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May 11, 2021, 06:35:04 AM
Last edit: May 11, 2021, 07:08:00 AM by virtualdn
 #1

If these rumors are true I think we will see BTC prices going through the roof, because right now 1 SATS = $0.0005533260 and this psychological low price works on people, everyone will start getting them.

Until now many didn't really knew (especially the newbies) that you don't have to own 1 full BTC to be rich in the future.

You can own 1,000,000 Satoshi instead and be a satoshi millionaire. Also Satoshi have limited supply.

People will forget Dogecoin, Shiba and other s*itcoins and will start stacking SATS.

BTC will grow big in the coming months, hear what I'm saying Wink

1 BTC = 1 BTC
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May 11, 2021, 06:41:33 AM
 #2

If these rumors are true I think we will see BTC prices going through the roof, because right now 1 SATS = $0.0005533260 and this psychological low price works on people, everyone will start getting them.

People will forget about Dogecoin and other s*itcoins and will start stacking SATS due to their low price. BTC will grow big in the coming months, hear what I'm saying Wink

Apologies for my ignorance on SATS. Aren't they the subunit of Bitcoin? And if so, even if an exchange would list them separately, how would one be able to withdraw, for example "the huge amount" of 250 SATS or whatever is under dust amount, not mentioning the Bitcoin minimum amount and withdrawal fees the exchanges use to ask?
And where will those SATS go? Won't be that to a Bitcoin wallet, getting back to the "depressingly low" 0.0... values?

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May 11, 2021, 06:42:50 AM
 #3

If these rumors are true I think we will see BTC prices going through the roof, because right now 1 SATS = $0.0005533260 and this psychological low price works on people, everyone will start getting them.

People will forget about Dogecoin and other s*itcoins and will start stacking SATS due to their low price. BTC will grow big in the coming months, hear what I'm saying Wink

Apologies for my ignorance on SATS. Aren't they the subunit of Bitcoin? And if so, even if an exchange would list them separately, how would one be able to withdraw, for example "the huge amount" of 250 SATS or whatever is under dust amount, not mentioning the Bitcoin minimum amount and withdrawal fees the exchanges use to ask?
And where will those SATS go? Won't be that to a Bitcoin wallet, getting back to the "depressingly low" 0.0... values?

Yes, 1 BTC = 100,000,000 Satoshi

I'm not 100% sure how this will work but I'm sure the exchanges are already thinking about it.

1 BTC = 1 BTC
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May 11, 2021, 06:48:01 AM
 #4

Yes, 1 BTC = 100,000,000 Satoshi

I'm not 100% sure how this will work but I'm sure the exchanges are already thinking about it.

Well, while last time I've checked (more than 1 year ago) you could withdraw Dogecoin from exchanges at 1-2 DOGE fee and the wallet shows DOGE, withdraing SATS will cost over 1000 sats/transaction and will still show Bitcoin in the wallet.
So I guess that if a rebranding is going to happen, it will have to be done for the wallets too and I have no idea how could the tx fees get adjusted downwards...

Edit: Of course, you'll have to rebrand your signature too to 1 SAT = 1 SAT  Cheesy

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May 11, 2021, 06:48:41 AM
 #5

I get the psychological effect it may have on newcomers, although it can also create a certain degree of confusion amongst them, needing to be aware of the fact that sats are a fraction unit of bitcoin, and that whichever way round you go, you’re really going to end up with the same.

I don’t know about Coinbase, but CoinMarketCap has listed it:
https://coinmarketcap.com/currencies/satoshi/

The downside to the above listing, is that it has been forced into the underlying data structure, which renders some weird visual and conceptual results. For example, Sats are ranked in position #5009, with no Market Cap data nor volume, and no explicit clear mention that sats are just a fractional representation of bitcoin (other than the logo). Not really well marketed there.

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May 11, 2021, 06:48:57 AM
 #6

Are you talking about precisely about Coinbase or Coinbase+Coinbase Pro?

There are chances that Satoshi could be listed on Coinbase Pro, but Coinbase rarely adds something to their altcoin list. It is hard to predict what they add, as they either add something less known (like Storj, this is completely new to me), and skip some popular alts like Tron on so beloved and popular dogecoin. I think that Coinbase will not list Satoshi.

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May 11, 2021, 07:25:04 AM
 #7

People will forget Dogecoin, Shiba and other s*itcoins and will start stacking SATS.
Majority of those who are buying shitcoins aren't doing it because they think bitcoin is "expensive", instead they are doing it because they "hope" the shitcoin they are buying is going to get pumped soon and it gives them a big profit.
In fact most of them are investing their "bitcoins" in these shitcoins in the hopes of increasing the amount of bitcoin they own. To put simply you may not be able to invest $1 million in bitcoin but you can invest $1000 and turn that into a million by trading, or hope to do so anyways!

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May 11, 2021, 07:44:51 AM
 #8

When I talk about bitcoin amounts I usually talk in terms of sats instead of adding all the decimal places. It is much easier to write 50k sats than 0.0005 BTC. There are already several services that use sats primarily. When you buy a gift card on Fold App they will show you the price in satoshis. Switching to sats might be good for marketing but it is also just more convenient.

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May 11, 2021, 07:57:30 AM
 #9

People will forget Dogecoin, Shiba and other s*itcoins and will start stacking SATS.
Majority of those who are buying shitcoins aren't doing it because they think bitcoin is "expensive", instead they are doing it because they "hope" the shitcoin they are buying is going to get pumped soon and it gives them a big profit.
In fact most of them are investing their "bitcoins" in these shitcoins in the hopes of increasing the amount of bitcoin they own. To put simply you may not be able to invest $1 million in bitcoin but you can invest $1000 and turn that into a million by trading, or hope to do so anyways!

It makes sense what you're saying. But investing $1 in BTC will bring you more return than investing $1 in Dogecoin in long term. This is what people don't realize. They want everything NOW!!! It's not how it works.

It took me 8 years of holding and I may still need a couple more to see my dream finally fulfilled. Patience pays well in the end.

1 BTC = 1 BTC
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May 11, 2021, 08:28:09 AM
 #10

If these rumors are true I think we will see BTC prices going through the roof, because right now 1 SATS = $0.0005533260 and this psychological low price works on people, everyone will start getting them.

I thought that this was a joke started from PlanB on twitter. They actually made it, wow. This is so pathetic...

I guess that this “new” crypto called “satoshi” can be withdrew on non-custodial wallets or even on other exchanges. CoinBase doesn't support it!   Tongue


It's highly ironic, because satoshi is an undivided subunit. You can't buy 1.5 satoshis. I believe that this will bring confuse and manipulation. For anyone interested, though, I'm sparing some satoshis so:


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May 11, 2021, 08:34:48 AM
 #11

Listing sats, which is pretty low in terms of value, is going to be a UX problem for them hence why I don't really see them listing it anytime soon(though definitely not impossible). Probably when the time comes that 1 sat >= $0.1 or at the very least 1 sat >= $0.01.

I still think every platform defaulting to sats/bits is far better though, to prevent newbies from investing in those so called high supply "cheap coins".

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May 11, 2021, 08:43:20 AM
 #12

If these rumors are true I think we will see BTC prices going through the roof, because right now 1 SATS = $0.0005533260 and this psychological low price works on people, everyone will start getting them.

People will forget about Dogecoin and other s*itcoins and will start stacking SATS due to their low price. BTC will grow big in the coming months, hear what I'm saying Wink

Apologies for my ignorance on SATS. Aren't they the subunit of Bitcoin? And if so, even if an exchange would list them separately, how would one be able to withdraw, for example "the huge amount" of 250 SATS or whatever is under dust amount, not mentioning the Bitcoin minimum amount and withdrawal fees the exchanges use to ask?
And where will those SATS go? Won't be that to a Bitcoin wallet, getting back to the "depressingly low" 0.0... values?

Yeah exactly, it's confusing. Satoshi are units of BTC, so I don't know if there's a separate coin/token that's pegged to BTC but in name of SAT. And people can actually buy fractions of Bitcoin and hold them in coinbase and other exchanges, they don't really have to buy SATs either to get a fraction of the amount of BTC. After all, most of us have fractions of BTC Grin very few people are lucky enough to hold whole bitcoin/bitcoins Grin
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May 11, 2021, 08:58:43 AM
 #13

Why is this something to discuss suddenly! i thought most people buying btc already know they can buy in sats not necessarily the whole thing! or am i missing something here! anyone who buys $100, $200 - $20,000 worth of btc knows they are not buying the whole damn thing, why does coinbase need to separately list sats to make this known!
i don't seem to understand the logic behind it for now, maybe i will soon  Huh

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May 11, 2021, 09:07:06 AM
 #14

i thought most people buying btc already know they can buy in sats not necessarily the whole thing! or am i missing something here! anyone who buys $100, $200 - $20,000 worth of btc knows they are not buying the whole damn thing
Actually not everyone who has bought bitcoin is aware of the denomination or the smaller quantity that it distributes like sats and mbtc. Mostly, we call it like you've bought 0.001 btc and that's already it.

But if OP is pertaining to this altcoin:

https://coinmarketcap.com/currencies/satoshi/

I don't think that they will.

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May 11, 2021, 12:58:45 PM
Last edit: May 11, 2021, 03:16:15 PM by tranthidung
 #15

Yes, 1 BTC = 100,000,000 Satoshi

I'm not 100% sure how this will work but I'm sure the exchanges are already thinking about it.
1 BTC = 100,000,000 satoshi and people can buy any fraction of BTC, of course, in satoshi units as well. I don't understand the idea of people who created this Satoshi (coin?). According to coinmarketcap.com, it is a coin, not a token.

Many units [1] are available and people will create many shit coins or tokens with dozen of units for Bitcoin? It will make the Bitcoin market looks crazy and unorganized. I don't like it. Unfortunately, people are free to do anything if they can code.

[1] Bitcoin Units

With $100, less and less BTC and less satoshis you can buy. However, you can have some satoshis by buying Bitcoin. I don't see I need Satoshi (mentioned in OP).


No detail about it from coinmarketcap. Coingecko has yet listed this one.

When I saw the logo, I instantly thought it is a scam token. Because the logo is Bitcoin logo. It is soon to say but will it be used as scam tool to convince Satoshi is real Bitcoin?


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...BET NOW...
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May 11, 2021, 01:46:27 PM
 #16

Satoshi is the smallest unit in Bitcoin and it is inseparable from Bitcoin. Adding Satoshi just makes things confusing is making people misunderstand that there is more than 1 type of Bitcoin (other than Bitcoin Cash, Bitcoin Diamond ...). Coinbase or coinbase pro and exchanges won't do the above because they know it's pointless because they're just Bitcoin.

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May 11, 2021, 02:37:13 PM
 #17

Satoshi is the smallest unit in Bitcoin and it is inseparable from Bitcoin. Adding Satoshi just makes things confusing is making people misunderstand that there is more than 1 type of Bitcoin (other than Bitcoin Cash, Bitcoin Diamond ...). Coinbase or coinbase pro and exchanges won't do the above because they know it's pointless because they're just Bitcoin.

There will be a day when we will talk and use satoshi rather than bitcoin. We are witnessing a switch from kXDG (1000 doge) to doge. Switch from Bitcoin to satoshi will occur when you walk out and buy 3 satoshi coffee and not 0.00000003 bitcoin.. Until this era come, there will be no listing.

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May 12, 2021, 08:46:14 AM
 #18

Satoshi is the smallest unit in Bitcoin and it is inseparable from Bitcoin. Adding Satoshi just makes things confusing is making people misunderstand that there is more than 1 type of Bitcoin (other than Bitcoin Cash, Bitcoin Diamond ...). Coinbase or coinbase pro and exchanges won't do the above because they know it's pointless because they're just Bitcoin.

There will be a day when we will talk and use satoshi rather than bitcoin. We are witnessing a switch from kXDG (1000 doge) to doge. Switch from Bitcoin to satoshi will occur when you walk out and buy 3 satoshi coffee and not 0.00000003 bitcoin.. Until this era come, there will be no listing.


I don't worry much about the payment issue as we will be using mobile devices to scan the store's QR code. The amount needed to pay will be displayed automatically and our only task is to confirm to complete our transaction.

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May 12, 2021, 09:35:41 AM
 #19

Satoshi is the smallest unit in Bitcoin and it is inseparable from Bitcoin. Adding Satoshi just makes things confusing is making people misunderstand that there is more than 1 type of Bitcoin (other than Bitcoin Cash, Bitcoin Diamond ...). Coinbase or coinbase pro and exchanges won't do the above because they know it's pointless because they're just Bitcoin.

Personally I thought this is a great news and I'm wondering how not too many people are happy about it, I was expecting for more joy here to be honest Smiley

Stacking Satoshi will be the next cool thing, people owning 1 BTC will be pretty rare in the future, why not get on the train now and stock Satoshi when it's still relatively cheap?

1 BTC = 1 BTC
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May 12, 2021, 10:54:04 PM
 #20

No detail about it from coinmarketcap. Coingecko has yet listed this one.

When I saw the logo, I instantly thought it is a scam token. Because the logo is Bitcoin logo. It is soon to say but will it be used as scam tool to convince Satoshi is real Bitcoin?
Yeah that's likely it.

A shady and just appeared when the market is doing well. Maybe it's going to be used to confuse the people and have them buy it from that only exchange.

I hope that there won't be any person that will fall for it.

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