The satoshi: now the second-lowest currency denomination

exstasie

legendary

Activity: 1806

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Quote from: markjamrobin on November 17, 2013, 10:08:30 PM

Quote from: exstasie on November 17, 2013, 10:05:21 PM

wow. That's pretty cool if you think about it!
There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then!

Can you link us? I would love to look, given the recent group, I'm sure it has jumped some.

I did!! I added the link to my post. Here it is again: http://coinometrics.com/bitcoin/bmix

markjamrobin

sr. member

Activity: 462

Merit: 250

Quote from: exstasie on November 17, 2013, 10:05:21 PM

wow. That's pretty cool if you think about it!
There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then!

Can you link us? I would love to look, given the recent group, I'm sure it has jumped some.

exstasie

legendary

Activity: 1806

Merit: 1521

wow. That's pretty cool if you think about it!
There's also a cool website that shows the overall value of BTC in terms of value vs. other currencies, and when I last looked it was ranked #96 in the world! That was yesterday, so who knows now how much is grown since then!

Edit: Looks like its at #89 now.

http://coinometrics.com/bitcoin/bmix

rampalija

full member

Activity: 154

Merit: 100

Quote from: Alty on November 16, 2013, 12:08:52 PM

Fun fact of the day! Grin

It's going to be interesting to watch how one Satoshi climbs the ranks of currency denominations as Btc price climbs.

it could be interest if satoshi reaches that price

DeathAndTaxes

donator

Activity: 1218

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Gerald Davis

Quote from: Rannasha on November 17, 2013, 04:34:16 AM

Quote from: ?? on ??

Quote from: Casino Gambling Guy on November 16, 2013, 12:41:29 PM

Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent.

One million dollars

This is the Math Police!

$0.01/1E8 = $100,000,000 USD
One hundred million not one million dollars.

No.

Hundred million (10^8) satoshis per bitcoin, so $0.01 = 1 satoshi would imply that 1 BTC = 100,000,000 times $0.01, so $1M.

DOH. Your right. I am going to bed.

Rannasha

hero member

Activity: 728

Merit: 500

Quote from: ?? on ??

Quote from: Casino Gambling Guy on November 16, 2013, 12:41:29 PM

Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent.

One million dollars

This is the Math Police!

$0.01/1E8 = $100,000,000 USD
One hundred million not one million dollars.

No.

Hundred million (10^8) satoshis per bitcoin, so $0.01 = 1 satoshi would imply that 1 BTC = 100,000,000 times $0.01, so $1M.

Pente

hero member

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Quote from: marcotheminer on November 16, 2013, 08:35:57 PM

Woooo thats awesome. It wont reach 0.01 usd i think

The more I think about it though, the more I am convinced that it has to hit that value within two decades or die. I feel an economic war coming soon.

torusJKL

hero member

Activity: 619

Merit: 500

That's an interesting fact.
Thanks for sharing.

ruletheworld

legendary

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Remarkable.
Why isn't the media all over this Shocked

marcotheminer

legendary

Activity: 2072

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┴puoʎǝq ʞool┴

Woooo thats awesome. It wont reach 0.01 usd i think

lucaspm98

sr. member

Activity: 280

Merit: 250

Great news! One day it will be worth more than the lowest denomination of every currency!

Casino Gambling Guy

member

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Merit: 10

Quote from: ?? on ??

Quote from: Casino Gambling Guy on November 16, 2013, 12:41:29 PM

Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent.

One million dollars

Ha ha, thanks. I'm picturing you imitating Mike Myers from Austin Powers while saying that Grin

Casino Gambling Guy

member

Activity: 63

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Math was never my strength so would someone kindly let me know in US dollars what bitcoin would have to be selling at for one satoshi to be worth one US cent.

NUFCrichard

legendary

Activity: 1218

Merit: 1003

Come on bitcoin, put that Burmese pya in its place!

alexeft

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Merit: 1000

Quote from: dree12 on November 16, 2013, 11:53:13 AM

Recently, the satoshi exceeded 0.01 Uzbekistani som in value.^[1]

Why is this important? 0.01 Uzbekistani som is a Uzbekistani tiyin, which is the least valuable currency denomination used in the world.^[2]

The satoshi was originally designed to be small enough that even if Bitcoin blew up, people could transact well. At today's prices, the satoshi is finally a reasonable smallest denomination, reaching the levels of one government smallest denomination.

Luckily, this is not a problem. More decimal places can easily be added in the future. In fact, there is room for 3 more decimal places yet!^[3]

The next target is the Burmese pya. We are around halfway there at current rates.

References

^[1]: XE.com.
^[2]: BBC.
^[3]: Bitcoin.it wiki.

Great! Nice to know! Thanks!

Alty

hero member

Activity: 714

Merit: 500

RISE Project Manager

Fun fact of the day! Grin

It's going to be interesting to watch how one Satoshi climbs the ranks of currency denominations as Btc price climbs.

safeminer

member

Activity: 110

Merit: 10

hehe great news, lets wait for the 1 satoshi / 0.01 usd Grin

dree12

legendary

Activity: 1246

Merit: 1077

Recently, the satoshi exceeded 0.01 Uzbekistani som in value.^[1]

Why is this important? 0.01 Uzbekistani som is a Uzbekistani tiyin, which is the least valuable currency denomination used in the world.^[2]

The satoshi was originally designed to be small enough that even if Bitcoin blew up, people could transact well. At today's prices, the satoshi is finally a reasonable smallest denomination, reaching the levels of one government smallest denomination.

Luckily, this is not a problem. More decimal places can easily be added in the future. In fact, there is room for 3 more decimal places yet!^[3]

The next target is the Burmese pya. We are around halfway there at current rates.

References

^[1]: XE.com.
^[2]: BBC.
^[3]: Bitcoin.it wiki.

Topic: The satoshi: now the second-lowest currency denomination (Read 2181 times)