One Satoshi, From Which National Money Are More Valuable? - page 2.

pakhitheboss

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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.

SkyLords

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Quote from: Darker45 on September 05, 2019, 09:19:18 AM

Quote from: TheBeardedBaby on September 05, 2019, 08:54:18 AM

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

That's exactly what I'm referring to here:

Quote from: Darker45 on September 05, 2019, 06:00:39 AM

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. Cheesy

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.

Darker45

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Quote from: TheBeardedBaby on September 05, 2019, 08:54:18 AM

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

That's exactly what I'm referring to here:

Quote from: Darker45 on September 05, 2019, 06:00:39 AM

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. Cheesy

buwaytress

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Quote from: 1Referee on September 04, 2019, 06:48:30 PM

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.

I can spend it with just over 100 satoshi, but yeah your point stands. I can spend 1 satoshi only with a fee over 100 times higher than that, and I'd be creating a dust input in the receiving wallet that will only be a burden if it is ever spent. More likely, it will sit untouched forever. Like all the other dust balance wallets abandoned.

We should also conceded though, that one day 1 satoshi might be enough to buy something of useful value... and 1 unit of any of those currencies above is not even accepted tender anywhere locally. We'd definitely need Lightning to be more widespread and mature first!

TheBeardedBaby

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₿uy / $ell ..oeleo ;(

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

DdmrDdmr

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Quote from: SkyLords on September 04, 2019, 05:49:05 PM

<…>

I can’t wrap my head around why the OP conversions are in (fractions of) USD, if the idea is to compare national currencies to Satoshis. Shouldn’t the information be expressed in Sats? Regardless, the comparison is merely anecdotal, and lacks any further implications.

Darker45

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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.

Anyway, it does not actually matter whether a country's currency is cheap or not, or less than the value of one Sat or a dollar. It does not necessarily mean they are poor, or their currency is less worthy, or their economy is at the bottom. For as long as their currency is working well, there is no problem. This is not a big deal, therefore.

Let us take, for example, the case of Indonesian Rupiah. A single Indonesia Rupiah may only be worth 0.000071 USD right now. But you have to consider the fact that even children there could easily become millionaires. An ordinary citizen could easily buy a single serving of a particular viand worth 30,000 Indonesian Rupiah.

davis196

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OP,why do you think that this is "very important information"?
Who cares about the national currencies of Iran,Indonesia,Vietnam,Venezuela,Uzbekistan,etc?
That info doesn't mean anything.People in those countries seem to be OK with their national currencies(maybe except Venezuela)and I don't see these countries adopting bitcoin anytime soon.

pooya87

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Quote from: bitmover on September 04, 2019, 08:22:34 PM

Live cost can be pretty high in those places, and 1 of those currencies is worth nothing.

i haven't done extensive comparison but the cost of living is usually a lot higher in developed countries. in these underdeveloped countries with a local currency of such low value the cost of living isn't that high specially since the "quality" of life is not that high either. what exists is a big inflation that is dropping the value of their currency. on top of that they keep printing more of their fiat which makes everything worse.

bitmover

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Quote from: 1Referee on September 04, 2019, 06:48:30 PM

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.

Additionally, a currency that is worth less than one satoshi doesn't mean anything. Live cost can be pretty high in those places, and 1 of those currencies is worth nothing.
just like 1 satoshi is worthless to us (cannot even be transacted), a currency which is worth less than 1 satoshi per unit, that unit is worthless as well.

You cannot buy a lunch with 1 satoshi in Venezuela. Everything there is calculated in thousands or millions. We lived that in Brazil few years ago. And from time to time government just cut off 3 zeros from fiat value, and life goes on.

Those metrics are just useless...

1Referee

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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.

SkyLords

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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.

Topic: One Satoshi, From Which National Money Are More Valuable? - page 2. (Read 312 times)