If you spend 1 satoshi a sec, you will spend 1 BTC is 3 years, 2 months & 1 Day

Darker45

legendary

Activity: 2576

Merit: 1860

Those are not the numbers in my computation.

But whatever. What now if it's 3 years, 2 months, and 1 day? Which, again, is not really correct, but what's the significance of it? It sounds like this is the beginning of some weird theories or whatever eccentric illuminati ideas. Like this:

Quote from: remotemass on June 13, 2022, 09:11:29 PM

And also... maybe Satoshi did calculate how many blocks would be mined (with an average of 10 minutes a block) in 1 million seconds... and since that is 166,666.666 blocks he may have decided for 210,000 for looking less beastly/evil and rather much more four seasons... Grin

For me, that makes total sense.

- remotemass

We can actually derive all kinds of coincidental numerical patterns from Bitcoin. But I don't know if they amount to something.

Ahli38

hero member

Activity: 952

Merit: 779

Quote from: remotemass on June 13, 2022, 02:06:28 PM

If you spend 1 satoshi a second, you will spend 1 BTC is 3 years, 2 months & 1 Day...
How cool is that? 3... Years, 2... Months and... 1 Day... lol. Grin

yeah that's really cool.
But I do the opposite which is instead of spending, I continue to collect satoshi little by little every day. As a day trader. I continue to save from the daily trading profits. I consistently save about 28571 satoshi per day so that in a week I can collect about 200,000 satoshi (0.002BTC). I want to know after 3 years, 2 months, 1 day. what is the total satoshi i can collect?... i want to have at least 1 bitcoin from this small savings. it may take about 10 years.

I rarely even look at my personal wallet which contains my small bitcoin savings. i just checked the transaction entered successfully.

ChrisPop

legendary

Activity: 2310

Merit: 1035

Not your Keys, Not your Bitcoins

1 satoshi per second = 86400 sats/day = 17 bucks per day --> For many jobs that would be the equivalent of 1H of work dedicated to BTC stacking. Not so bad if you ask me, but there are countries out there where you make that much in a full day of work.

Quote from: nullama on June 13, 2022, 09:45:00 PM

That amount of time is very close to the current hodl line: https://hodl.camp

Wasn't aware of this website, thanks! Gotta admit that it took me a minute or two to figure out the chart Grin

Welsh

staff

Activity: 3304

Merit: 4115

Quote from: coolcoinz on June 23, 2022, 02:47:26 PM

Although this is a completely useless knowledge, It's a good reminder of how much 1 bitcoin really is. It gives you a sense of perspective.
True, although nobody is going to play around saving 1 sat every day. That would require you to be a psychopath. A maniac of some sort Cheesy

Although, it's pretty close to what those people who make a selfie every day and then after 3 or 5 years put all the photos together to see how they were changing over the years. Seeing how much you've made in 3 years by saving a just 1 cent a day might be worth it if you're into projects and such.

One satoshi maybe, but I think most users could save multiple satoshis a day. Even, if that requires purchasing them. Might be a good way of looking at it, since I find these days people are way to obsessed over buying a whole Bitcoin, especially those that are new. People generally either forget or don't understand that's okay to have Bitcoin in lower denominations than one. It's not like fiat where 20 pence won't buy you anything. 0.2 or 0.1 can buy you a whole lot of things with Bitcoin at its current price.

Quote from: remotemass on June 13, 2022, 03:07:42 PM

Oops, I meant 1 satoshi a second... Ouch!

That makes a whole lot more sense. I wasn't sure if you just missed something at first or if you lost the plot a little Tongue

.

Quote from: nullama on June 13, 2022, 09:45:00 PM

That amount of time is very close to the current hodl line: https://hodl.camp

It's currently at 3 years, 4 months, and 4 days.

That means that if you bought Bitcoin at any time in history, and waited that amount of time, your Bitcoin now has more purchasing power than when you acquired it.

Rather interesting observation. Although, goes without saying really, but doesn't mean three's a correlation, and that's going to continue to happen. Very likely won't continue happening in the long term.

coolcoinz

legendary

Activity: 2744

Merit: 1174

Although this is a completely useless knowledge, It's a good reminder of how much 1 bitcoin really is. It gives you a sense of perspective.

Quote from: ?? on ??

That is incredible sometimes how much you can save when you save every day small sums every month. And it works the same way when you spend money, if you sum up all the unncesasary spending you will understand that you spent a lot.

True, although nobody is going to play around saving 1 sat every day. That would require you to be a psychopath. A maniac of some sort Cheesy

Although, it's pretty close to what those people who make a selfie every day and then after 3 or 5 years put all the photos together to see how they were changing over the years. Seeing how much you've made in 3 years by saving a just 1 cent a day might be worth it if you're into projects and such.

nullama

hero member

Activity: 1008

Merit: 960

Quote from: crwth on June 13, 2022, 09:58:53 PM

~snip~
That's definitely a great website. At least you have some idea of how long you would HODL and have profit. I think the average entries that you would have along the way would always be 3 years and 4 months and 4 days.

I assume this moves along when it's not profitable anymore, right?

Yeah, it's not an average, it's just the worst case scenario over the entire history of Bitcoin. The current hodl line remains the same as it was around the end of 2013. In most cases you're way better off in a shorter amount of time.

It hasn't been changed in years, but it will update automatically if the current hodl line is larger than the previous one from 2013.

crwth

copper member

Activity: 2912

Merit: 1279

https://linktr.ee/crwthopia

I think you should edit the title of your thread to avoid confusion now. I thought, how is that even possible when I first read it.

Quote from: nullama on June 13, 2022, 09:45:00 PM

That amount of time is very close to the current hodl line: https://hodl.camp

That's definitely a great website. At least you have some idea of how long you would HODL and have profit. I think the average entries that you would have along the way would always be 3 years and 4 months and 4 days.

I assume this moves along when it's not profitable anymore, right?

nullama

hero member

Activity: 1008

Merit: 960

That amount of time is very close to the current hodl line: https://hodl.camp

It's currently at 3 years, 4 months, and 4 days.

That means that if you bought Bitcoin at any time in history, and waited that amount of time, your Bitcoin now has more purchasing power than when you acquired it.

remotemass

legendary

Activity: 1122

Merit: 1017

ASMR El Salvador

And also... maybe Satoshi did calculate how many blocks would be mined (with an average of 10 minutes a block) in 1 million seconds... and since that is 166,666.666 blocks he may have decided for 210,000 for looking less beastly/evil and rather much more four seasons... Grin

For me, that makes total sense.

- remotemass

remotemass

legendary

Activity: 1122

Merit: 1017

ASMR El Salvador

Quote from: remotemass on June 13, 2022, 03:55:48 PM

So "3 years, 2 months, 1 day" is "equal or greater than 1152 days" and equal or "equal or less than 1161 days",
and so, 1 satoshi a second would be indeed between: "1152 * 86400 = 99532800" and "1161 * 86400 = 100310400" satoshi.
Since the range is that, it seems quite accurate to say that 3 years, 2 months and 1 day would be: ~= 1BTC.

100,310,400 - 99,532,800 = 777,600 seconds = 216 hours = precisely 9 days.
Sometimes these discoveries strike me as being beautiful and fascinating Wink

Hehe. Neat!

- remotemass

CaVO32

full member

Activity: 1848

Merit: 158

Quote from: fenican on June 13, 2022, 04:35:44 PM

Quote from: remotemass on June 13, 2022, 02:06:28 PM

If you spend 1 satoshi a day, you will spend 1 BTC is 3 years, 2 months & 1 Day...
How cool is that? 3... Years, 2... Months and... 1 Day... lol. Grin

With fees, very possibly!

But this is just theoretical because in reality, we can't spend 1 sat alone, not considering the fees alone. It is not yet valuable enough to spend this in any merchant or shop. So right now, I don't know what's the valuable input here for this topic. Maybe, just for the sake of discussion only. Tongue

fenican

hero member

Activity: 1395

Merit: 505

Quote from: remotemass on June 13, 2022, 02:06:28 PM

If you spend 1 satoshi a day, you will spend 1 BTC is 3 years, 2 months & 1 Day...
How cool is that? 3... Years, 2... Months and... 1 Day... lol. Grin

With fees, very possibly!

remotemass

legendary

Activity: 1122

Merit: 1017

ASMR El Salvador

28th Feb 2020 + 3 calendar years + 2 calendar months + 1 day = 29th April 2023. That is 1156 days.
And, so that would be indeed: 99,878,400 sats. (1 sat a second).

remotemass

legendary

Activity: 1122

Merit: 1017

ASMR El Salvador

Yes, I know it depends on the degree of precision of the calculations.
For instance, if each of the 3 years was a leap year (366 days)
and the 2 months were 31 days (2*31=62 days),
then we would have: 3*366+62+1= 1161 days.

And as the minimum for 3 years, 2 months and 1 day is:
365*3 + (28 * 2) + 1 = 1152, since a month can have 28 days indeed.

So "3 years, 2 months, 1 day" is "equal or greater than 1152" and equal or "equal or less than 1161",
and so, 1 satoshi a second would be indeed between: "1152 * 86400 = 99532800" and "1161 * 86400 = 100310400" satoshi.
Since the range is that, it seems quite accurate to say that 3 years, 2 months and 1 day would be: ~= 1BTC.

Hehe, cool ;-)

darkv0rt3x

hero member

Activity: 1260

Merit: 675

I rather die on my feet than to live on my knees

Maybe the OP meant 1 sat per second.

3 years would be 60*60*24*365*3 = 94608000 sats
2 months would be 60*60*24*60 = 5184000 sats
1 ay would be 60*60*24 = 86400 sats

All together sums 94608000 + 5184000 + 86400 = 99878400 sats

Not exactly but close! I didn't take into account years with 365 and 366 nor months with 29/30/31 days. I just did 1 year = 365, 1 month = 30 days! 1 day doesn't have exactly 24h, so, a few caveats to get a less exact result!

remotemass

legendary

Activity: 1122

Merit: 1017

ASMR El Salvador

Oops, I meant 1 satoshi a second... Ouch!

Welsh

staff

Activity: 3304

Merit: 4115

Quote from: franky1 on June 13, 2022, 02:25:23 PM

maybe he is playing reverse psychology to get people to think about how much people can actually use bitcoin daily and still not spend 1btc

Maybe. I do like the sort of thinking that you don't require one Bitcoin. A lot of new comers to Bitcoin are obsessed with getting to one Bitcoin, and take its current price as still out of their budget. Yet, they forget that there's denominations like a satoshi. I wish, we could to some extent re-educate the masses, and get that obsession with one Bitcoin out of their heads.

Although, it has to be said in this particular case one satoshi isn't going to get you very far in life. Certainly isn't going to put food on the table on a daily basis.

franky1

legendary

Activity: 4270

Merit: 4534

Quote from: Welsh on June 13, 2022, 02:18:58 PM

Remember, that one satoshi is 0.00000001 of a Bitcoin. If you only spent one satoshi a day (which given fees is pretty much impossible) you'd take thousands of years to spend one Bitcoin. At the moment, it's not even possible to only spend 1 satoshi since you have fees. Maybe, if Bitcoin is altered to utilize further denominations in the future, it might be possible, but right now it isn't.

maybe he wants a rebuttal answer like yours.. maybe he is playing reverse psychology to get people to think about how much people can actually use bitcoin daily and still not spend 1btc

Welsh

staff

Activity: 3304

Merit: 4115

Yeah, remotemass I'm not sure how you've come to that conclusion, but your Math is wrong somewhere. Franky's above is technically correct, ignoring leap years etc. Although, even with leap years, your Math is still a long way out.

Remember, that one satoshi is 0.00000001 of a Bitcoin. If you only spent one satoshi a day (which given fees is pretty much impossible) you'd take thousands of years to spend one Bitcoin. At the moment, it's not even possible to only spend 1 satoshi since you have fees. Maybe, if Bitcoin is altered to utilize further denominations in the future, it might be possible, but right now it isn't.

franky1

legendary

Activity: 4270

Merit: 4534

if you spend 1 satoshi a day..
.. you will spend 365sats in a year.
.. you will spend 730sats in 2 years.
.. you will spend 1095sats in 3 years.

you will spend 30 sats in a month
you will spend 60 sats in 2 months

meaning in 3 years 2 months and one day..
you will spend 1156sats

..
however.. if you done 1156 tx's to spend 1 sat per time..
with also had a tx fee of 1sat per vbyte (1in 2 out p2wpkh =140vbyte)

you have WASTED(LOST) an extra =161840sats
meaning total loss and spend is 162996sats

which is ~0.00163

Topic: If you spend 1 satoshi a sec, you will spend 1 BTC is 3 years, 2 months & 1 Day (Read 286 times)