Topic: One Satoshi, From Which National Money Are More Valuable? (Read 312 times)
if we compare bitcoin is more valuable than fiat currency as we saw in the post op it might be possible to remember us to countries whose currencies are very small when exchanged with other countries' currencies so people now prefer bitcoin to be their currency because if for example we exchange bitcoin with another country's currency does not change the price of bitcoin in the slightest unlike the fiat currency of the country.
Wait this looks just the beginning there will be a time comes when 1 Satoshi will be equal to 1 USD. 
I wonder how people from those countries were living they may need 1 bag of fiat to buy a meal.
I wonder how people from those countries were living they may need 1 bag of fiat to buy a meal.
Well, I think 1 satoshi is almost the same value in different fiat currency. It is a small amount so it might be able to only have the same value. Also, people no longer recognize or see the difference in it since it has an only a small amount and they are just focusing on how to earn it and not on what is the fiat currency that 1 satoshi has a most higher value. Because OP is basing on dollar rate, of course, that is a highest value among all currencies in all countries.
Perhaps time will come that one satoshi will have an interesting value while fiat already eaten by deflation.
Nothing to compare for now since both are not that worthy but one thing we can assure is that only bitcoin will have a decent value afterwards.
I think both of them are worthy of value. because fiat until now still applies in any country. both may have different functions. Nothing to compare for now since both are not that worthy but one thing we can assure is that only bitcoin will have a decent value afterwards.
It's utterly meaningless. Back in the day a good pizza in Italy would cost you 20,000 Lire. So what? Its economy was not a smoking ruin. It had a currency with a dot that coulda done with being moved a few places to the left but they couldn't arsed.
My dad keeps telling me how a cup of coffee used to cost him 5 smallest units of my local currency. Today the same cup if you are lucky costs 80 units, but in general closer to 100.
And before him, my grandfather said 1 unit would get 2 cups even.
We are not yet in the region to move the dots but our neighbors have been for years and they haven't moved dots! Still carry around wads of cash for small things.
Perhaps time will come that one satoshi will have an interesting value while fiat already eaten by deflation.
Nothing to compare for now since both are not that worthy but one thing we can assure is that only bitcoin will have a decent value afterwards.
Nothing to compare for now since both are not that worthy but one thing we can assure is that only bitcoin will have a decent value afterwards.
Very interesting but as others have said once you divide something a certain amount of times the individual amount becomes meaningless and doesn't matter. This is why in maths equations they say things kike 0.0333 recuring. If you divide 1 into 3 you can go on forever 0.33333 so you just say recuring.
I don't think these currencies are individual. They most likely come in stacks of 100s and 1000s where is anything less then in the 100s is meaningless.
I don't think these currencies are individual. They most likely come in stacks of 100s and 1000s where is anything less then in the 100s is meaningless.
I was about to comment the comparison of our currency in this topic but later found out in the comments that this posts didn't follow the protocols. Actually, the topic is good but we should always consider to credit owners of the information for their hard work. But still, 1 satoshi or 0.00000001 is equivalent to 0.0041PHP. I find this one interesting as I can be more cautious in making transactions since each transactions needs to pay transaction fees, we should be aware of how much the transaction fee cost per transactions in order to be efficient in cryptospace.
This is very important information, we are among the people who witnessed history. Currently the currencies of the countries listed below are lower than 1 satoshi. So 1 satoshi is now past the value of these moneys. This is an event that will go down in history and we have witnessed the history of us who have learned this information.
As of 05.09.2019, 0.00000001 Bitcoin that is 1 satoshi 0.00011 USD.
0.00000001 Bitcoin worth more than 1 of the following currencies:
1- Iranian Rial (1 piece = 0.000024 USD)
2- Vietnamese Dong (1 piece = 0,000043 USD)
3- Indonesian Rupiah (1 piece = 0,000070 USD)
4- Guinean Franc (1 piece = 0.00011 USD)
5- Sierra Leonean Leone (1 piece = 0.00011 USD)
6- Laotian Kip (1 piece = 0.00011 USD)
7- Uzbekistan Som (1 piece = 0,00011 USD)
8- Venezuelan Bolivar (1 piece = 0,000043 USD)
The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.
As of 05.09.2019, 0.00000001 Bitcoin that is 1 satoshi 0.00011 USD.
0.00000001 Bitcoin worth more than 1 of the following currencies:
1- Iranian Rial (1 piece = 0.000024 USD)
2- Vietnamese Dong (1 piece = 0,000043 USD)
3- Indonesian Rupiah (1 piece = 0,000070 USD)
4- Guinean Franc (1 piece = 0.00011 USD)
5- Sierra Leonean Leone (1 piece = 0.00011 USD)
6- Laotian Kip (1 piece = 0.00011 USD)
7- Uzbekistan Som (1 piece = 0,00011 USD)
8- Venezuelan Bolivar (1 piece = 0,000043 USD)
The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.
This is a very amazing data. This is the first time I witnessed such thing as these that a satoshi has much bigger value than that of a fiat currency. So it means that in those countries the hyper inflation of money. I dont know if theire economy is also worse given the value of their money. If the prices in their country is cheap and they accept bitcoins I will gladly migrate in their country. This is just one reason why we need to hold bitcoins since if today there are only 8 in the list on the years to come there will be tens or more that will be included in that list when bitcoin rise up in value.
8- Venezuelan Bolivar (1 piece = 0,000043 USD)
The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.
The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.
You can take a look at Localbitcoins for more updated prices.
While 100 million satoshis make one bitcoin, you need 200 million bolivars for one bitcoin. That means, you need 2 bolivars to buy 1 satoshi.
To make it simple assume 1 BTC = 10k $, so you just move 4 zeroes and then its half that: 0.00005 USD.
Incidentally in the "parallel" market it was about 25k VES per USD, so 1 VES = 0.00004 USD.
With 40k being the "minimum monthly wage", you can already discover our min wages are 1 USD per month, with better jobs giving you, maybe 2...
The VES was "created" exactly one year ago with pomp by Maduro claiming victory over imperialist America as the "last ever" coin. 1 VES = 100000 VEF. 1 USD was about 6 of those IIRC.
Like everything else he promises, falling short would be a gentle description of his monetary policy results, which is an absolute disaster, worst in history of this country.
Don't worry, surpassing the Dong will be a piece of cake, its been about 20k (per USD) since 2011, we only reached 20k like a week ago, give it a couple of weeks...
I don't know what the government are still waiting for the make their money valuable, it has been years that these listed money has been like this and I think rather than even getting better, they are getting worst, that is why their country is not a tourist center because someone who is used to carrying little money will be scared of going there to change their money to such huge amount of money.
Countries where if you have to pay for ordinary tea, they are talking thousands and millions, I am not even sure these people have ever mentioned the word hundreds in their lifetime as regards their money. Maybe things will turn around if they can rely on bitcoin as digital currency, I am sure with satoshi, there is a way that they can try to balance the equation.
Countries where if you have to pay for ordinary tea, they are talking thousands and millions, I am not even sure these people have ever mentioned the word hundreds in their lifetime as regards their money. Maybe things will turn around if they can rely on bitcoin as digital currency, I am sure with satoshi, there is a way that they can try to balance the equation.
It's utterly meaningless. Back in the day a good pizza in Italy would cost you 20,000 Lire. So what? Its economy was not a smoking ruin. It had a currency with a dot that coulda done with being moved a few places to the left but they couldn't arsed.
We cannot say if the OP found the source of his information on Twitter or maybe found this website and use it as a source : https://fiatmarketcap.com/ (use it on your own risk)
The only thing what is missing is his sources.
@OP with the current situation with the spam in the forum it's completely normal people to be a bit more rough at you. Many lost their accounts because of plagiarism, and the only way to avoid plagiarism is to cite your sources when you post.
READ THE RULES!!!
The only thing what is missing is his sources.
@OP with the current situation with the spam in the forum it's completely normal people to be a bit more rough at you. Many lost their accounts because of plagiarism, and the only way to avoid plagiarism is to cite your sources when you post.
READ THE RULES!!!
The intention of the comparison can be that Bitcoin is now really valuable compared to different currencies of different countries. Well, on that case, we actually do not anymore convincing that this can be true. And in many cases, fiat currencies are losing value due to many factors primarily inflation and in some cases decree or actions of the leadership of the country. While I don't believe that fiat currencies should and will be abolished, I am so convinced that cryptocurrency is here to stay though there is a big chance that evolution by means of innovations will keep on going.
The list you see above has gone down in history and I shared it because I think this should be a historical document here. This list may perhaps increase in the future.
This list will really expand, but in fact this money itself is not so important for the world economy, that's if bitcoin affects the dollar or yuan...
I get why people like these metrics from a perma bull perspective, but there is no way to spend a single satoshi on-chain without paying a fee 500-1000x higher than the amount you want to transact with, and this is when the network isn't experiencing much activity, otherwise the fees are even higher. It's not an advantage when you can't utilize it.
In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.
Agree, with this fees Bitcoin is more like Gold/store of value than currency.In order to have this metric actually mean something, we need Lightning globally deployed so that people in all countries can use it with little effort and cost.
Payments are just too expensive for everyday use. Lighting solves this, but didnt have time yet to research it. I mean, there was many technologies that failed like color coins etc. After lighting will have its success will study it a lot.
One satoshi is worth nothing like other fiat currency. You can't buy anything in just one single cents or one satoshi,so i think comparing of one satoshi to a fiat currency is nothing because it will become value if it has a higher amount. It needs thousands of ssatoshi before you can use it to buy or to make any transaction.
Copy and Paste.You should have checked for other countries like Argentina and all South Asian countries except India. I am sure there are more countries in this region that could have been added to the list and a few African countries too.
This list does not make any sense, what were you trying to accomplish with this list? 1 Satoshi does not solve the cost of living in these countries. With the declining economy, the cost of living in these countries has already touched the moon.
The comparison is a waste of time.
No it is not a waste of time. People in these countries are suffering because their governments are not protecting the value of their wealth and they are making bad decisions that influence their local economy and the value of the Fiat currencies.
People should highlight weak currencies like this and the citizens of those countries should consider storing their wealth in Bitcoin and not in their own local Fiat currency to protect the value of their wealth.
I expected Indonesian Ruppe was the less valuable currency on the planet I never know it was lower than 1 satoshi and yet there is some National currency that are lower from that look Iranian Rial only cost 0.000024 USD per piece? and they are facing sunction from the United States this country need to adopt crypto Currency to be able to survive.
After a year if the price of Bitcoin will continue to grow this list of yours will be updated for sure. Imagine in the Next 10 years 1 satoshi will also cost 1$? this is not impossible because of the huge demand on the market.
After a year if the price of Bitcoin will continue to grow this list of yours will be updated for sure. Imagine in the Next 10 years 1 satoshi will also cost 1$? this is not impossible because of the huge demand on the market.
I guess the OP was checking tweeter lately and saw this >
https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet
https://twitter.com/Rhythmtrader/status/1168986032030855169?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1168986032030855169&ref_url=https%3A%2F%2Fpublish.twitter.com%2F%3Fquery%3Dhttps%253A%252F%252Ftwitter.com%252FRhythmtrader%252Fstatus%252F1168986032030855169%26widget%3DTweet
That's exactly what I'm referring to here:
Did you discover this on your own or you based this on someone else's tweet? This looks familiar to me. I might have come across a similar tweet earlier, not sure if exactly just like yours. Yours might have been a little enhanced.
He should have cited where he got the idea.
I didn't see this on Twitter. A friend of mine message me on Facebook. I just wanted to share with you. You say that like I did something bad. The aim was to share information with you. I saw it for the first time on Twitter when you shared the link.
you could get banned from this. I suggest you edit and properly credit the original source or include the link on your post to avoid being ban. copy pasting is one of the most severe crimes in this forum.
Jump to: