Last week I stumbled over one question that I didn't have an answer for, maybe uou guys can help.
Let's assume one Satoshi at some point reaches dollar parity, let's assume further that
I want to purchase a cd worth $10 but with ten Satoshis.
Here is the question: What will be the transaction fee, if the Satoshis
aren't further divisible? If I had to pay one Satoshi for the transaction, that would equal
10% and would probably have me buying it somewhere else. So would the network only charge fees
over a certain transaction value to keep the percentage of the transaction low, or would it simply result in buying or transacting only larger sums in order to keep the transaction fee low.
thx.
Let's assume one Satoshi at some point reaches dollar parity, let's assume further that
I want to purchase a cd worth $10 but with ten Satoshis.
Here is the question: What will be the transaction fee, if the Satoshis
aren't further divisible? If I had to pay one Satoshi for the transaction, that would equal
10% and would probably have me buying it somewhere else. So would the network only charge fees
over a certain transaction value to keep the percentage of the transaction low, or would it simply result in buying or transacting only larger sums in order to keep the transaction fee low.
thx.
My assumption is that if we reached that point (a very good problem to have!) we would all suffer through another hard-fork to add extra decimal places to the protocol. If we failed to do that, it would mean very good things for alt-currencies like litecoin.
