Do you see individual satoshi becoming valuable?

promise444c5

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Quote from: mvdheuvel1983 on December 01, 2023, 07:57:44 AM

Quote from: philipma1957 on November 30, 2023, 08:44:49 PM

No. I think BTC tops out at 10 to 15 million.. Which means 15 cents per sat.

Check my math.

0.00000001. 100 million sats to a coin . so 100mill x 15 cents you got a 15 million dollar coin.

with a 15 cent sat. maybe in 2050 to 2060 it happens.

This math is a bit difficult for me to comprehend. But if I got you, do you mean that, 1 Satoshi will be worth 15 million dollar?

No ....... it can never be possible to have 1sat=> $15M (unrealistic)

From the calculation above
Currently 1BTC = 100M sats I.e 100,000,000 sats= 1 btc

Let's assume 1 Btc is on $40,000
Then 1 sat = 0.0004

When btc is on $100,000
1sat = $0.001

BTC = $100,000,000
then 1sat = $1.

Therefore ,Bitcoin must get to a price range of $100M for 1 sat to be $1 .

In his calculation he used $15million as a worth of BTC
Then 1sats=$ 0.15
In cents $1=100 cents
$0.15 = 15cents
So at $15million price range of BTC 1sats= 15 cents or $0.5

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Quote from: Natsuu on December 28, 2023, 08:22:48 AM

Right. Guessing when a satoshi might hit $1 is a bit like predicting the weather because. it depends on a bunch of stuff, like how much Bitcoin keeps growing and what's happening in the market. We can't say for sure which year this will happen, but it's a hot topic for folks keeping a close eye on the crypto scene. As Bitcoin gets more popular and valuable, the idea of a satoshi hitting $1 is causing some noise and making us wonder how it might shake up the money game.

I think currently almost everyone knows how many satoshis per Bitcoin (except newbies who are new to Bitcoin) and when someone says $1 for one Satoshi, that means one Bitcoin is one hundred million dollars. This is still a very long way to go for Bitcoin so everyone doesn't need to hope that this can happen in a short time, because Bitcoin itself is still not too close to the $100K range. So the story of how one Satoshi can reach $1, I think is a story of hope that has to be waited for quite a long time.

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Quote from: icalical on December 29, 2023, 07:45:51 PM

So, do I think this will happened?
Yes this could happened, but not in near future, it will be a long road.

It is a long road until we see that each satoshi is going to be valuable. But just like the pennies that we have, it's important to complete and entire thousand.

That's what I can see from it and it's just like a perspective of someone who values money. If you're going to look at the entirety of it, you see those calculations and that makes sense to see its worth.

Maybe a cent per satoshi might come but how much Bitcoin should be by that time?

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Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

Well, Satoshi is a unit of Bitcoin, so for me, overall it will really depend on the price of Bitcoin even in the future.
For me, it is becoming valuable for me especially if we will maintain the price and slowly increasing versus our fiat currencies right now that you can see the value are decreasing due to inflation.

icalical

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When Bitcoin become the main currency used and there is no more fiat money, then people will definitely value 1 Sat. But as long as we still using fiat currency then Bitcoin should reach certain amount of price for Satoshi to be valuable, i.e Bitcoin need to be valued at $1 Million so the 1 Sat can be equal to 1 cents.

So, do I think this will happened?
Yes this could happened, but not in near future, it will be a long road.

tread93

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One can certainly hope right?! It that is the case then all of us would surely be very well off to do as we please Cheesy

. That would be very cool to see happen, if we ever get to see that in our life time. That is a longgggg ways away though I mean we are talking nearly 30-40 years of HODLing, Bitcoin is not even this old yet. I suppose it is possible though! If each Sat was like $1 would be insaneee.

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Quote from: DapanasFruit on December 21, 2023, 08:46:34 PM

When we talk about one satoshi getting valuable...in my mind it must be $1 for each satoshi...and by that time we can say that indeed a satoshi can be worth something though by those years there are not a lot of things you can buy with $1. Anyway, the point is that as BTC continues to rise in terms of dollar price equivalent, so does a satoshi. On what year, will this happen that remains to seen and lucky are the people who are still alive for that big milestone.

Right. Guessing when a satoshi might hit $1 is a bit like predicting the weather because. it depends on a bunch of stuff, like how much Bitcoin keeps growing and what's happening in the market. We can't say for sure which year this will happen, but it's a hot topic for folks keeping a close eye on the crypto scene. As Bitcoin gets more popular and valuable, the idea of a satoshi hitting $1 is causing some noise and making us wonder how it might shake up the money game.

philipma1957

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Quote from: DapanasFruit on December 21, 2023, 08:46:34 PM

When we talk about one satoshi getting valuable...in my mind it must be $1 for each satoshi...and by that time we can say that indeed a satoshi can be worth something though by those years there are not a lot of things you can buy with $1. Anyway, the point is that as BTC continues to rise in terms of dollar price equivalent, so does a satoshi. On what year, will this happen that remains to seen and lucky are the people who are still alive for that big milestone.

If BTC becomes $1 usd per 1 sat that means it is 100 million a coin.

I simply do not see that in the next 12 years or even 24 years.

2024-2028 ATH pretend it goes to 430k that is 10x today maybe this is possible

2028-2032 ATH pretend it goes to 2 mill that is 45x today not so sure this will happen.

DapanasFruit

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When we talk about one satoshi getting valuable...in my mind it must be $1 for each satoshi...and by that time we can say that indeed a satoshi can be worth something though by those years there are not a lot of things you can buy with $1. Anyway, the point is that as BTC continues to rise in terms of dollar price equivalent, so does a satoshi. On what year, will this happen that remains to seen and lucky are the people who are still alive for that big milestone.

philipma1957

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Quote from: pooya87 on December 01, 2023, 01:34:15 AM

Quote from: franky1 on December 01, 2023, 12:27:01 AM

who would use bitcoin if it cost $339 per tx even at just 10sat/byte

It depends on how much $339 is worth Tongue

Considering how dedollarisation has been speeding up and how possible it is to see dollar value tanking hard, bitcoin reaching millions against dollar is not as far a you'd think. After all the current transaction fees of 1 sat/vbyte is about 300 in a bunch of currencies like the Colombian Peso Wink

well the dollar is less valuable.

one could argue that 19 k in dec 2017

is pretty close to to 43 k in dec 2023 it is about +14.5% gain but the dollar sank at least 6% a year since 2017

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Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

What kind of value are you expecting for a satoshi to reach? If the value gets too high we may need new smaller units in order to allow the purchase very cheap items, however it will take a very long time for a single satoshi to reach one dollar for example, and even then if this is achieved by the dollar going through a massive amount of inflation then even if the price of each satoshi was that high, you could still not buy much with it.

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It is a conjecture to think that all the sats that we leave out there could mean a fortune, but perhaps the fortune is not enjoying it but having the invaluable time to see it, I think we have to reconcile balances and it would also make sense to deposit anywhere where there are a few Sat and remove them to wait 30, 40 years...

panganib999

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I have a hunch that in the future, when earning a triple decimal place bitcoin’s even harder than actually earning a bitcoin these days, Satoshis will be the saving grace of the people. For that matter, I see Satoshis as a great solution to bitcoin’s problem with scarcity no thanks to its immutable 21 million total supply. Sayoshis will also be great as a way for us to staunch the ongoing scalability problem by employing similar tactics (although correct me if this feels like a stretch to you.

In any case, satoshi’s going to be a pivotal utility token in the future for the bitcoin network. Today it wouldn’t be worth scat, tomorrow, it might go band for band with the US Dollar.

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Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

I greatly think that has been the idea behind creating a definite number (limited number of Bitcoins) with a formula to surround its decrease as per block reward and there by, ensure it remains a scarce asset through the ages.
While we have our world population grow, gradual adoption and valuation, you would find individual sats picking up values to be more accommodating of the populace that would buy the Bitcoin idea at a later time and phase in life.
We just need to keep up with the pace at which it’s running, through it might be slow, it’s a means to ensure it checks and balance every nuke and crevices that could make it seem like an inflated balloon or a bubble that is waiting to get burst.

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Eventually yes, and especially as time passes by and as more and more bitcoins are mined apart from the halving. Satoshis are actually meant to prepare the whole network for such a time, cause they knew as early as decade ago that satoshis will become bitcoin’s end game basic token soon as the whole industry shoots up in value.

Anywho, the scalability conundrum proves to be a more vital topic to discuss rather than what sat’s role will be in the future, which already predetermined anyway in the first place.

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Quote from: so98nn on December 02, 2023, 09:20:05 AM

Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

I am more worried about the scaling problem to be honest. The price is gonna come by as per the Satoshi math. He already decided the fate when he was working on the entire Bitcoin project. That’s why there is bitcoin halving, that’s why there is ever increasing network difficulty. This helps minting of bitcoin very hard, thus more energy to mine thus more input of investment and thus more pricey it becomes.

So yeah that’s gonna happen. Maybe tomorrow or after 50 years. However, it would be interesting to understand how we are going to tackle the network congestion. The fees? Man it would take enormous fees by 2050, with inflated rates it would be worst to transact even thousands of bucks. What would we do about an individual sats worth 1 dollar or more.

Hmm... Potentially people would have to split Bitcoin into minor parts on that case, going beyond the currently 8 decimal houses BTC has today, or the fees should be paid in another currency, maybe an altcoin or stablecoin, because nobody is going to pay few satoshis for a transaction if each satoshi values 1$.

It must not be a big issue, though, because if we reach to that point, it means Bitcoin will be highly appreciated by the global community, therefore many specialists will act fastly on this matter to fix the issue immediately. Anyway, there must be a long time yet until we see this happening, as for now 1 satoshi still equals to only 0,0004$. It's not even equal to 1 cent from my local devalued currency yet.

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Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

I am more worried about the scaling problem to be honest. The price is gonna come by as per the Satoshi math. He already decided the fate when he was working on the entire Bitcoin project. That’s why there is bitcoin halving, that’s why there is ever increasing network difficulty. This helps minting of bitcoin very hard, thus more energy to mine thus more input of investment and thus more pricey it becomes.

So yeah that’s gonna happen. Maybe tomorrow or after 50 years. However, it would be interesting to understand how we are going to tackle the network congestion. The fees? Man it would take enormous fees by 2050, with inflated rates it would be worst to transact even thousands of bucks. What would we do about an individual sats worth 1 dollar or more.

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Quote from: libert19 on November 30, 2023, 08:38:28 PM

As each halving is passing and this block reward decrease has started sounding like a big deal to me. Does anyone else also see individual satoshi becoming valuable in future?

I have seen it, I think it's gonna cost much in the near future, possibly 1 satoshi to 1 dollar, the only downside of that is that the transaction charges might be way to costly but I see the possibility as halving increases.

Today, 100 satoshi is almost 4 cents, what do you think will happen in the near future?

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Quote from: kryptqnick on December 01, 2023, 01:09:34 PM

Quote from: sunsilk on November 30, 2023, 08:59:10 PM

As Philip is able to explain the sats to Bitcoin conversion for each sat into centavo. I also think that it's going to take time if each sats will have value in the future.

To make it short, and for other calculation. It's going to be with a dollar per satoshi.

1 BTC = 100M sats = $100M to make it at least $1 per sat.

And if it's going to be in cents as per philip's calculation, that's still going to require a lot of price and market cap for Bitcoin to achieve it.

Well, it doesn't have to reach $100 million (or $1 per satoshi) for satoshi to be considered valuable, although that depends on what the op means by valuable. If it's in a sense that even owning, say, 50 satoshi is a lot of money, then no, not very realistic. But if it's in a sense that it would be more convenient to refer to amounts in satoshis (say, 1 thousand satoshis), then I'd say that when Bitcoin is at $10 million (or 10 cents per satoshi),

You're right, even if it's going to cost just a few cents then that doesn't change the fact that Bitcoin is going to be valuable by that time. Even a few satoshi's going to be cost a lot and could have a better price than what it is now, it's possible that we actually gonna see that in the future.

Quote from: kryptqnick on December 01, 2023, 01:09:34 PM

I think it would be a good time to switch. But I'm not sure if we'll ever see Bitcoin get there, so in the foreseeable future satoshis will remain insignificant.

Well, that's a question that no one's gonna know the answer. We'll never know if we will be able to see it happen someday to reach that pricing because we don't know how long we'll be on this world.

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Well, when I started out with my Bitcoin journey, Bitcoin faucets gave out 1000 Satoshi per hour.... and back then it was worth absolutely nothing to write home about. So, today those same satoshi are worth about $0.40 and if you sucked on those faucets for a few hours per day, you would have collected a significant amount for a poor person living in a third world country. (They survive on between $1 to $5 a day)

Take those same Satoshi in about 10 to 20 years from now.. and I think most people will dive into those "dust" wallets to grab every Satoshi that they can get their hands on. Grin

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