Topic: We should start pricing Bitcoins in Satoshis to realize how cheap it is! - page 2. (Read 989 times)
January 01, 2016, 03:39:05 PM
I think that we could use bits as a reference if bitcoin increases so much. For small prices could be better to use the reference 10 bits than 0.00001 Bitcoins. A satoshi, for now, has very small value to use as a reference.
January 01, 2016, 02:28:36 PM
it make more sense to wait for 1 satoshi = 1 cent, to start to consider the minimum in bitcoin value, which mean that bitcoin need to increase above 2000x, around 1M
which is not something that will happen overnight, if it will ever happen...
which is not something that will happen overnight, if it will ever happen...
January 01, 2016, 02:07:49 PM
this was discussed last year, where bit debates about
0.00010000 : millibits,
0.00000100: microbits, (bits)
0.00000001 sats
which eventually people want microbits (bits). to allow for 2 decimals to allow for small change.
some said lets use millibits for now, as people can actually use a millibit, others argued that the tx fee made that unfeasable and in the near future when tx fee's drop thanks to the fiat valuation rise forcing miners to drop the tx fee, it will become possible...
but the consensus is that when that happens there would be confusion of different people using bitcoin and different people using millibits. and not long after that people will argue that millibits is too large as the fiat value keeps rising.. causing people to then want to move down to microbits(bits). meaning that millibits is just a temporary and confusing thing to change down to for such a short period.
so the majority of people are sticking to bitcoins and then there will be a big switch over to microbits, thus skipping the temporary confusion of measurements that millibits would cause common folk
0.00010000 : millibits,
0.00000100: microbits, (bits)
0.00000001 sats
which eventually people want microbits (bits). to allow for 2 decimals to allow for small change.
some said lets use millibits for now, as people can actually use a millibit, others argued that the tx fee made that unfeasable and in the near future when tx fee's drop thanks to the fiat valuation rise forcing miners to drop the tx fee, it will become possible...
but the consensus is that when that happens there would be confusion of different people using bitcoin and different people using millibits. and not long after that people will argue that millibits is too large as the fiat value keeps rising.. causing people to then want to move down to microbits(bits). meaning that millibits is just a temporary and confusing thing to change down to for such a short period.
so the majority of people are sticking to bitcoins and then there will be a big switch over to microbits, thus skipping the temporary confusion of measurements that millibits would cause common folk
January 01, 2016, 02:00:02 PM
Would be nice if we get another drop in price before the haling in june/july buy up some nice quantities of coin before the massive rise. Still it is a fair price now but could be better.
January 01, 2016, 01:56:10 PM
Great idea but nowhere near being realistic. The reason that it is set up like this is to show how cheap it is. Would you rather spend .00001 BTC for something, which shows a part of something or would you rather pay 1,000 Satoshi for that same item? Doing this will not change the value of a Satoshi, it will just make some people not use it. I think it is great because with Bitcoin, you can pay 1/10 of a [penny for something and see it. Ask a bank to show you 1/10 of a penny.
January 01, 2016, 01:53:18 PM
1000 satoshis for 1 dollar would be pretty good. It would be like using those old currencies from the old countries before unions engulfed their national currencies creating the Euro. Back in the day a lot of currencies would of around that value.
January 01, 2016, 01:45:38 PM
This is the best idea I ever heard... not.. That may be how it feels to you, but in terms of economics this would ofcourse never happen..
It would allow people to have more satisfaction with their holdings. It feels better to have a hundered million of something than to have one of something.
It would allow people to have more satisfaction with their holdings. It feels better to have a hundered million of something than to have one of something.
January 01, 2016, 01:41:05 PM
Yup, look how cheap one satoshi is: $0.0000043
Even the exchanges should price it this way, you would see 1 satoshi going up to $1 in a minute.
That would put 1 BTC = $100,000,000
Happy New Year everybody!
Even the exchanges should price it this way, you would see 1 satoshi going up to $1 in a minute.
That would put 1 BTC = $100,000,000
Happy New Year everybody!
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