We Need to start Mentioning Price in Satoshis - page 3.

Sithara007

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Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

Price of BTC in Satoshis? That makes no sense, since Satoshi is just a subdivision of BTC. I am not a big fan of the United States Dollar. But as of now, the fact remains that it is the one and only universal currency. All the assets (not just fiat currencies such as CNY and GBP, but also gold, crude oil.etc) are frequently valuated with respect to the US Dollar.

Johnzky

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Quote from: Ailmand on April 06, 2019, 06:17:47 AM

Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

I think the reason why people prefer using the amount of bitcoin in dollar rather than how much satoshi is that because it is honestly difficult to read fractions of bitcoin since it is composed of decimals. It is more convenient to say the value in dollar than in satoshi.

Thats it because of decimals it’s harder for us to compute the value and we will be needing to convert first ..and the volatility of cryptocurrency is hindering the system to mentioned satoshi than dollar

Quote from: okala on April 06, 2019, 08:07:53 AM

Since the amount of santoshi is hard for most of us to understand and read accurately since is a mathematical code it more understandable to use dollar as the monitoring equivalent to know the real value of the santoshi in the exchange market, since dollar is the most popular currency and highly used.

Right on that because this is what we use to call it from the start we learn cryptocurrency so no need to change that

stsfi

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Quote from: Ailmand on April 06, 2019, 06:17:47 AM

Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

I think the reason why people prefer using the amount of bitcoin in dollar rather than how much satoshi is that because it is honestly difficult to read fractions of bitcoin since it is composed of decimals. It is more convenient to say the value in dollar than in satoshi.

it's not complicated at all new terms can be used to, i think you missed i said SAT not BTC

lets say burgers for 20,000 Satoshi Cheesy

but we can use mBTC too

YuginKadoya

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Volatileness is the reason why people try to compute the value of a bitcoin to any Fiat currency they like And comparing how bitcoin price had improved in the past and present were it can still reach certain heights, That is why they dollar currency or other currency will be present in peoples mind because they are basing the price to that, and when it comes to using Satoshi, Many are in a complete question mark on how they will pronounce or use it because you can always used bitcoin instead.

okala

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Since the amount of santoshi is hard for most of us to understand and read accurately since is a mathematical code it more understandable to use dollar as the monitoring equivalent to know the real value of the santoshi in the exchange market, since dollar is the most popular currency and highly used.

jakelyson

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Maybe you mean, in the future, when bitcoin price is not fluctuating too much, we can start stating price in satoshi. But right now, we can't do that because the price moves too rapidly. Even when you say that USD is a sinking currency, it is still in the top right now. We still convert btc to fiat. We still have to base our price on USD.

RapTarX

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Till BTC will take as an investment opportunity, fiat can never be detached from BTC. We must have taken BTC as currency.

Ezenwanyi

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The fact is that not everyone understands how the Satoshi figure is calculated and so such people among us would prefer price being calculated in Dollar.
They find it more simplified that way.
Even though I can cope with price being calculated in Satoshi , I still prefer it done in dollars.

DeathAngel

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I don’t think it’s yet the time to start mentioning bitcoin in sats. Maybe when the price goes parabolic because not many people will have whole bitcoin’s but it’s not the time for this yet.

The Cryptovator

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I don't think we can remove USD completely due to volatility of bitcoin. Wherever you will go to use bitcoin they will calculate with USD. That's the main problem why we can't removed USD. And we know that bitcoin will never stable since it's not a stable coin. So we have to calculate it on USD. If we can spend it on SAT then we can remove USD, otherwise it's not possible to remove totally. Especially if you are going to sell/buy goods. You might receive you work payment on SAT like we are receiving signature campaign payments and its calculating as SAT.

Haunebu

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Quote from: tyz on April 06, 2019, 06:32:52 AM

Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

Well, that's exactly what I've written many times. Many users, especially those who have been with Bitcoin for a long time, only calculate in Bitcoin. But most of the board users still think in fiat currencies. But you can't blame them as long as you can't use Bitcoin for shopping in the shop around the corner.

What exactly is the problem here? Mentioning BTC in USD is far more convenient and effective when compared to mentioning it in Satoshis.

Also, BTC was never meant to replace FIAT, but stand alongside it as an alternate payment solution to users.

romero121

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This isn't possible in a short, it requires time to make this happen. When we get the increased direct usage of bitcoin people start to mention in terms of Satoshi. Until then we cannot expect as well it is really an hard thing to do. Even now for products with low values were mentioned in terms of Satoshi. Now we're dependent on USD, the value of a single coin is determined with relation to the USD.

Bitinity

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If you are referring to price in a merchant, I dont think it will be effective. No other reason except the value of bitcoin which keeps changing every seconds. It will make confusion for people to buy something as they need to convert the listed price into fiat first to know the exact price in fiat money. It is also needs a hard work for the sellers as they need to follow the price of bitcoin in order to set the right price of what they are selling.

tyz

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Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

Well, that's exactly what I've written many times. Many users, especially those who have been with Bitcoin for a long time, only calculate in Bitcoin. But most of the board users still think in fiat currencies. But you can't blame them as long as you can't use Bitcoin for shopping in the shop around the corner.

mk4

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Prices where? No sane merchant would list prices in satoshis due to price volatility(besides BTC-specific sites) and due to USD obviously being the most adopted currency.

Just a thought: Imagine how much more money would come in to bitcoin compared to other coins/tokens if bitcoin was listed on Coinmarketcap and other price listing sites as Satoshis instead of bitcoins. I've read a few times in the past that people were investing in XRP instead of bitcoin because XRP had a lower price, without them taking into consideration the supply held by Ripple Labs and the rotating supply. Like LOL.

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Quote from: Ailmand on April 06, 2019, 06:17:47 AM

Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

I think the reason why people prefer using the amount of bitcoin in dollar rather than how much satoshi is that because it is honestly difficult to read fractions of bitcoin since it is composed of decimals. It is more convenient to say the value in dollar than in satoshi.

it is actually because of volatility of bitcoin more than anything else. for example if you say something is worth 1000 satoshi today, tomorrow it may be worth 800 satoshi and the next day it can be 1200 satoshi. and that is not desirable.
additionally when you say something is worth $1 it is easier to understand how much it is worth but if i say something is worth 1000 satoshi you have to check bitcoin price first then convert that to USD and then understand if 1000 is too much or too little.

Ailmand

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Quote from: stsfi on April 06, 2019, 06:01:03 AM

we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

I think the reason why people prefer using the amount of bitcoin in dollar rather than how much satoshi is that because it is honestly difficult to read fractions of bitcoin since it is composed of decimals. It is more convenient to say the value in dollar than in satoshi.

stsfi

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we need to start mentioning price in SAT, we need to remove USD the sinking currency from the equation

Topic: We Need to start Mentioning Price in Satoshis - page 3. (Read 572 times)