Topic: economic fun fact to remember: when 1bit is worth 1bit (Read 55 times)
It would feel strange if we talked about the price of Bitcoin being 100k and that we would say that the price of Bitcoin is very low and that it is already too late and some may start using something less than mBTC and the price of 1bit (100sat) may be equal to 1 of local currencies or even 1 satoshi is 4096 Venezuelan bolivar. At the current price, 1 BTC is 145,390,000,000 VEF
legendary
Activity: 1288
Merit: 1491
The first decentralized crypto betting platform
Looking it up I see that that dollar was a Spanish coin. In other words, the equivalence does not hold. We should look at the equivalence between that dollar and the U.S. dollar at the time, around the late 1700s.
But even if we were to find that the dollar was nominally equal to the U.S. dollar in its time if we were to take inflation into account it would have nothing to do with it, as back then the purchasing power was much greater.
So, yeah, fun fact but if we begin to analyze it, we see that it is more complicated than you suggest.
But even if we were to find that the dollar was nominally equal to the U.S. dollar in its time if we were to take inflation into account it would have nothing to do with it, as back then the purchasing power was much greater.
So, yeah, fun fact but if we begin to analyze it, we see that it is more complicated than you suggest.
Time takes it's part on everything.
To think that what is worth the current amount now was worth 0.125 byte. A 1bit which is a $1 ÷ 8 = $0.125
It was worth what almost everyone could afford but now time took it's part on it.
It just taught me a lesson to do whatsoever when the time comes, it might be the greatest opportunity that I can't afford to loss.
It's a fun fact but a big lesson learnt
To think that what is worth the current amount now was worth 0.125 byte. A 1bit which is a $1 ÷ 8 = $0.125
It was worth what almost everyone could afford but now time took it's part on it.
It just taught me a lesson to do whatsoever when the time comes, it might be the greatest opportunity that I can't afford to loss.
It's a fun fact but a big lesson learnt
just a random fun fact about money/currency/economics
in old money 1bit was a single 'pieces of 8' of a dollar coin
in crypto 1bit is 100sat
when bitcoin is $125k/btc 1bit(100sat) is worth 1bit(8th of a dollar)
enjoy that thought when the time comes
in old money 1bit was a single 'pieces of 8' of a dollar coin
in crypto 1bit is 100sat
when bitcoin is $125k/btc 1bit(100sat) is worth 1bit(8th of a dollar)
enjoy that thought when the time comes
Jump to: