Is Bitcoin really too Expensive? Then Buy Satoshis - page 4.

gunhell16

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Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

In the future, we will get to a stage where or when we will no longer talk much about how much 1 full BTCbitcoin is worth, but we will focus on how much 1 satoshi is worth.

And today, based on the current price of bitcoin, 1 satoshi is currently valued at $0.000366 according to coinmarketcap.

If you missed buying bitcoin in its early days and feel bitcoin have become too expensive, then you have the opportunity again to invest in satoshi, treat satoshi as a bitcoin side project, for in the near future, 1 satoshi may worth up to $0.2 cents or even more, there are only 100 million of satoshis in every 1 bitcoin, and a total/max supply of 2.1 quadrillion satoshis off the total supply of bitcoin which is 21 million (disregarding that around 6 million bitcoins is estimated to be lost, which also means that the satoshis equivalent to this amount of bitcoins are also lost)

Imagine buying 1,000,000 satoshis at current price of $0.000366, that will cost you around $366 today

Hold the same 1,000,000 Satoshis till each worth $0.1 cent, that will be worth $100,000 (not money for children)

Start investing in satoshi today, if you are too poor, buy and hold atleast, 2,000,000 satoshis worth $732 today, and be very patient.

It's good that you say this; bitcoin's value is high at the moment, and maybe for most people it's too expensive if you really buy a bitcoin. Now, there's nothing wrong with saving it if it's really long-term; we will talk.

But the question is, how much will Bitcoin be when what you say happens? Could the price of Bitcoin be in the millions? because if we just think about it for 14 years, each bitcoin has been around 36–37 000 now, or, let's say, 100k, so how many more decades will we have to wait to experience what you are talking about? Although saving is really good, that's true. The real question is, are we still alive?

Agbe

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This a nice recommendation but even in this moment bitcoin is not too cost for people to buy though depends in the country you dwell in. And if anyone want to buy it can buy it from unit which can be 0.0003 which can be equivalent to $10 and as the op said, if anyone is interested to invest in bitcoin but thinking that the price is too high then as the op said he can purchase satoshi but my consideration of satoshi right now is very low and it take yes to rise for people to massively use it. But if the investors will be patient enough for like 8 to 10 years to come for them to start using their satoshi investment then, it is a good idea of investing in satoshi but what about the transaction for then because bitcoin uses satoshi to pay for it transaction so if satoshi goes up then means the transaction bitcoin will be something else.

AmoreJaz

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Quote from: mirakal on November 18, 2023, 03:56:59 PM

Quote from: _act_ on November 18, 2023, 12:42:58 PM

It is just as easy as saying it is not necessary to buy bitcoin if you do not have enough money to, becuase you can buy less than 1 bitcoin. Satoshi is the smallest unit of bitcoin but I do not think saying investing in satoshi is correct, it is still investing in bitcoin but people can buy less than 1 bitcoin.

Using the term satoshi might only bring confusion to beginners. They might be thinking that what's the significance of satoshi when all we are talking here is only bitcoin. Instead, make it clear that we don't have to invest or buy the whole bitcoin if our funds are still insufficient. Just buy a portion of bitcoin on an amount that you can afford to lose, and continue to grow it through doing DCA in your next purchases.

I'd say people understand every piece of advice based on their capability to understand. And I know what you are trying to say here is actually good and valuable, but only limited people will understand the essence of having satoshi when its hard for you to invest or buy the whole amount of bitcoin.

they will understand this concept sooner or later. satoshi or btc itself, either term, they will know the difference real fast. but bottomline, the idea here is just buy small parts of btc that you think you can afford. but of course it depends on the minimum order that an exchange is allowing their traders. also, consider the tx fees if you do need to transfer it to your own wallet. most users will accumulate first their satoshis before transferring it to their wallet because of the high fees incurred in this process.

goldkingcoiner

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If Bitcoin is too expensive then you should have bought sooner! Tongue

Furthermore I would argue that the topic title should be: "Not enough money for Bitcoin? Then buy Satoshis." Because the value of both Bitcoin and Satoshi scale, so you are buying BTC at the same Satoshi price as you would be at buying Satoshis. If you consider Bitcoin has a too high price-tag then so do the Satoshi.

Although I would also argue that Bitcoin under 100k is not expensive.

jeraldskie11

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You can't buy Satoshi in the exchange literally because what I have know is that if ever you bought Bitcoin the ticker is always Btc even if your balance is below 1 unit. If the exchange use the ticker Satoshi just because our funds is not worth 1 Bitcoin, it will only gives confusion to our their users.

Knowing what is the relation of Satoshi in Bitcoin is enough. This will make us understand that there is 8 decimal point to become 1 Bitcoin since 100million Satoshi the smallest unit of Bitcoin worth 1 Bitcoin.

Zaguru12

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Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

Start investing in satoshi today, if you are too poor, buy and hold atleast, 2,000,000 satoshis worth $732 today, and be very patient.

I wouldn’t call 2,000,000 satoshi or better still 0.02BTC Atleast, what I will say is even if it is $5, someone who has 20mBTC already has much invested into bitcoin most especially if you’re not that rich. And just as you said this is the beauty of having bitcoin in fractional unit.

Quote from: Renampun on November 18, 2023, 03:51:23 PM

I once read that there is a prediction that says in the next few decades 1 satoshi will be worth $1, surely that time will come Grin

Don’t get me wrong but this is certainly a huge wish which might be almost impossible in the near future. One satoshi equaling a dollar means that one bitcoin will be $100,000,000 which is such a higher number that even if the mining stops and bitcoin becomes scarce will be rare to have it at that price.

Aanuoluwatofunmi

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Satoshi is another version of little amount of bitcoin that can be easily acquired by the people who may be willing to start the accumulation by earning sats little by little and keep accumulating them till it all reach a tangible amount, also holding this could help as well whereby people can decided to make something good out in sat right from how they earn it, most especially the newbies.

Amphenomenon

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Bitcoin wasn't made in such a way that It's compulsory to get 1BTC or natural numbers (1,2...n) of BTC before you be eligible to get a bitcoin, we have sat and you can start buying even if it's 0.00000001 (which the minimum Sat) , nothing is stopping anyone from getting bitcoin, weather poor or rich bitcoin is available to everyone.
Some have failed to realise this, then later buy altcoins and which they mostly regret in the end. The image below explains everything better.

Quote from: alastantiger on October 15, 2023, 09:32:13 AM

kentrolla

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First for those who don't know what is Satoshi, it's a smallest denomination of Bitcoin and 1 Satoshi = 0.00000001 BTC

Mate, I find this conflicting as it would create even more confusion if you keep referring to Satoshi as something different than Bitcoin as people will think of it as a parallel project of Bitcoin. There is a Stigma which has been attached like you need to hodl atleast 1 BTC to be considered as an investment but we need to understand it's not possible for everyone to have 1 bitcoin and rather they can accumulate how much ever they can based on their financial capacity. Ther figures mentioned for Satoshi to reach $0.2 sounds too overestimated as it would take decades if Crypto era lasts till that time. Instead of segregating Bitcoin and Satoshi let's put it across in simple words.

mirakal

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Quote from: _act_ on November 18, 2023, 12:42:58 PM

It is just as easy as saying it is not necessary to buy bitcoin if you do not have enough money to, becuase you can buy less than 1 bitcoin. Satoshi is the smallest unit of bitcoin but I do not think saying investing in satoshi is correct, it is still investing in bitcoin but people can buy less than 1 bitcoin.

Using the term satoshi might only bring confusion to beginners. They might be thinking that what's the significance of satoshi when all we are talking here is only bitcoin. Instead, make it clear that we don't have to invest or buy the whole bitcoin if our funds are still insufficient. Just buy a portion of bitcoin on an amount that you can afford to lose, and continue to grow it through doing DCA in your next purchases.

I'd say people understand every piece of advice based on their capability to understand. And I know what you are trying to say here is actually good and valuable, but only limited people will understand the essence of having satoshi when its hard for you to invest or buy the whole amount of bitcoin.

Renampun

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Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

...
Imagine buying 1,000,000 satoshis at current price of $0.000366, that will cost you around $366 today

Hold the same 1,000,000 Satoshis till each worth $0.1 cent, that will be worth $100,000 (not money for children)

Start investing in satoshi today, if you are too poor, buy and hold atleast, 2,000,000 satoshis worth $732 today, and be very patient.

thank you for your new idea, buying bitcoin using the smallest unit of bitcoin is very good, small investors who hope to buy bitcoin will find it easy to buy bitcoin at any time, the smallest unit of bitcoin will not make it difficult for investors to buy bitcoin, because there are many beginners there, are those out there who think that to invest in Bitcoin, they have to buy 1 Bitcoin in full. I once read that there is a prediction that says in the next few decades 1 satoshi will be worth $1, surely that time will come Grin

Wiwo

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Nice advice, because most people miss out on the most important things in life taking it to be too risky for them, and when it comes to becoming, the risk of holding is much less than the risk of losing out at some point if one failed to utilize the multiple opportunities to buy some few satoshis because at this point, what really makes the difference in the amount of time you can afford to wait for your investment to increase since the higher satoshi, the better but holding a few Satoshi may require you to wait let longer.

But then also, buying and waiting are the most important sacrifices that any Bitcoin investor will have to pay, and in doing so also it is very important to look at the entry price of Bitcoin because if you jump on when the market is relatively high, it won't be easy to wait all through since the high entry price will increase your waiting time so it best to buy always when the price is at discount price.

So ops you did well to have brought up this discussion and this is an eye-opener to many of us who will want to buy more Bitcoin at regular intervals.

adultcrypto

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Quote from: BIT-BENDER on November 18, 2023, 12:41:36 PM

Good advice OP but I think this may also be confusing to newbies and inexperienced people, I think some would not properly understand what you mean and actually think you are talking about two different coins here, for example they may think you impling Bitcoin being expensive and Satoshi may be another preferable altcoin.
For more clarity for those who are seeking to understand Satoshi and other used units in Bitcoin you can check out this table in the thread below.
https://bitcointalksearch.org/topic/did-you-know-bitcoin-table-of-units-5239694

At first it actually appeared to be two different coins until you check the image posted. The OP is actually right because soon the discussion might shift from BTC to Sat. However, there is no denying that Sats as a unit of Bitcoin is not widely known as Bitcoin.

I have the feeling that when Bitcoin reaches $1m , sats will become very popular as people will feel more comfortable using whole numbers than decimal.

ZAINmalik75

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Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

Imagine buying 1,000,000 satoshis at current price of $0.000366, that will cost you around $366 today

Hold the same 1,000,000 Satoshis till each worth $0.1 cent, that will be worth $100,000 (not money for children)

Start investing in satoshi today, if you are too poor, buy and hold atleast, 2,000,000 satoshis worth $732 today,

You have done a good calculation here but did you give a thought on what BTC price 1 Sat will be worth around 0.1 dollars? According to my calculation, which might be wrong but when the price of BTC will touch around $2,722,222.22 or 2.7 million per BTC then 1 sat will be worth 0.1 cent. And for 0,2 cents double the rate.

In my opinion, it's not an easy target and we might not be alive to see BTC achieving this target because halving will end near 2140 and we can\t live that long so we might not see BTC touching 2.7 million so we could make $100k out of it. While we can make $100k out of any other alts if done proper analysis or by doing the job with a good salary.

That's why I prefer everyone to do proper analysis before making any transaction and expecting profits that we might not achieve.

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Quote from: BIT-BENDER on November 18, 2023, 12:41:36 PM

for example they may think you impling Bitcoin being expensive and Satoshi may be another preferable altcoin.

Exactly how how upto 50% of absolute newbies will understand this. I wanted to point this out, good you did. Maybe OP might try to rephrase the paragraph after the image in order not to create the impression that Satoshi is another coin different from bitcoin. See this;

Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

Funny enough, most newbies and even established members doesn't look at the amount of bitcoin they have, they only check the fiat value of the coin.

oktana

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First, your topic name makes it sound like Satoshi is a different cryptocurrency, in fact, I have gotten personal questions from newbies about this, asking what cryptocurrency is Satoshi. So, I think you could have been more specific there. Anyway, that feeling of having missed out is why many people randomly jump on altcoins. People find it weird that their let’s say $500 will be fractions of a currency so they rather feel it’s better to hodl something that is more numerous. We need to let people know that it’s okay to have these fractions as it equivalent to how much you purchased it with.

un_rank

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- Jay -

Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

...for in the near future, 1 satoshi may worth up to $0.2 cents or even more,

Doing the math, this is an increase of over 500%.

This will mean 1 Bitcoin will need to go as high as 19 million USD for 1 satoshi to be worth $0.2. This is not happening in the near future or even in the distant future.
Let us not set unrealistic price targets to make investing more attractive. it is a good hedge against inflation and will give ROI, but will not multiply in value as much as it did ten years ago.

- Jay -

Stepstowealth

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If bitcoin is expensive, the cost of ignorance and not knowing about it, or knowing about it and not investing in it is even greater because then it will be coupled with regrets which also can severely lead to depression. Bitcoin is something that has value and to benefit from something that has value will take some sacrifice and commitment. If you cannot afford to buy bitcoin in figures as we want, we can still use the amount we have to buy some quantity of bitcoin.

Fivestar4everMVP

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Quote from: _act_ on November 18, 2023, 12:42:58 PM

It is just as easy as saying it is not necessary to buy bitcoin if you do not have enough money to, becuase you can buy less than 1 bitcoin. Satoshi is the smallest unit of bitcoin but I do not think saying investing in satoshi is correct, it is still investing in bitcoin but people can buy less than 1 bitcoin.

Well, it is basically the same thing, I understand what you mean and let me say that I deliberately used the word "invest" to describe buying satoshi because its still the same thing as investing in bitcoin, if you read in-between the lines, you did understand that I was trying as much as possible to make this very simple and understandable to newbies, this is why I said they should treat satoshi as a bitcoin side project, That, let bitcoin be like the tree and satoshi the branches.

Some may misunderstand and think satoshi is another altcoin that is entirely different from bitcoin, but this is not too much of a thing to worry about as long as its bitcoin satoshi they are buying, and not just any random altcoin out there.

Quote from: jrrsparkles on November 18, 2023, 12:56:24 PM

Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

Imagine buying 1,000,000 satoshis at current price of $0.000366, that will cost you around $366 today

Along with what you said, try repeat buying 1,000,000 sats 100x times then it will become 1 whole bitcoin. Maybe it is not possible to buy as a whole but definitely, it is possible to accumulate 1 BTC over time even if you start today. DCA method can be helpful for the retail investors who wants to invest certain amount weekly/monthly over the long period of time.

Exactly and very well said, even much more better if in the process of accumulating satoshis, one end up with 1 full bitcoin, what a blessing for who ever this will be. Grin

jrrsparkles

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Quote from: Fivestar4everMVP on November 18, 2023, 12:18:57 PM

Imagine buying 1,000,000 satoshis at current price of $0.000366, that will cost you around $366 today

Along with what you said, try repeat buying 1,000,000 sats 100x times then it will become 1 whole bitcoin. Maybe it is not possible to buy as a whole but definitely, it is possible to accumulate 1 BTC over time even if you start today. DCA method can be helpful for the retail investors who wants to invest certain amount weekly/monthly over the long period of time.

Topic: Is Bitcoin really too Expensive? Then Buy Satoshis - page 4. (Read 613 times)