To be honest I take Bitcoin more as a store house of value , as in investment , rather than taking it as a Currency therefore it's something that is supposed to happen .
It's more like gold , per kg , it's going to be more than any Currency for sure , for a Currency we need stability and global recognition , which is yet pending.
Stability we see time to time but , its still not good enough.
Therefore I don't think if we can treat that as a Currency or not , also we usually use it in smaller amounts like0.000003 and such , with the lightning network it is slightly getting better though.
Who know ?
Maybe it will be a global currency 10 years from now.
Topic: The Satoshi Value Economy - page 2. (Read 312 times)
It's a nice little bit of trivia, but what does it really mean? For example, economy of any of those countries is far bigger than Bitcoin economy, and those currencies have more users than there are Bitcoin users in the whole world. There are currencies that cost more than the US dollar, like how Kuwaiti Dinar costs $3.29, but this doesn't really mean that it is better than US dollar in some way.
In Venezuela it was way worse with a rate of: 1 USD = ~248,487 VEF which is 0.000004 USD
1 Satoshi was worth 20 VEF at one point, this was changed recently due to the insane inflation in Venezuela and the old VEF was converted at a rate of 1:100.000
There are a few others that are close:
https://www.x-rates.com/table/?from=USD&amount=1
1 Satoshi was worth 20 VEF at one point, this was changed recently due to the insane inflation in Venezuela and the old VEF was converted at a rate of 1:100.000
There are a few others that are close:
https://www.x-rates.com/table/?from=USD&amount=1
I didn't know that, at least i not made any research. The main problem in my opinion is that sometimes not worth to send low amount of bitcoin, like 100 satoshi or 1000 because fee can be higher than amount sent.
Do you know that using the current rate of bitcoin against the USA dollar, the smallest denomination of bitcoin, a single Satoshi, is now worth more than some national currencies like:
- Iranian Rial
- Vietnamese Dong
- Indonesian Rupiah
The 1 Satoshi is at USD $0.0000772318 while Iranian Rial is at 0.0000237959 USD, Vietnamese Dong at 0.0000426711 USD and
0.0000700676 USD is for Indonesian Rupiah.
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