Topic: What if 1 satoshi worth more than 1 dollar? - page 2. (Read 326 times)

I somewhat agree with what you said, in fact, it also occurred to me that one day it is possible that 1 satoshi will be equal to 1$, it may be very impossible for this to happen, but many impossible things in bitcoin are not expected by the crowd around the world.

I know that others can relate to what I'm saying, and maybe others don't agree with what I'm talking about, but I know that most people in the crypto industry are saving bitcoin for a good future.

1 satoshi equals to $1, when will it happen?

In either two scenarios
When Bitcoin has very good growth by massive adoption and attract massive new capital flows into Bitcoin market.
When fiat currencies have massive hyper inflation like another pandemic, world war whatever which forces government to print more fiat currencies globally.

We know governments and central banks don't stop their inflationary works so it is not Bitcoin responsibility to have a smaller denomination when 1 satoshi = $1.

Governments create inflation and they create new nominations for their fiat currencies like from 100 to 1,000 10,000 100,000 500,000 and maybe in future 1,000,000 currency note.

[Did you know?] Bitcoin Table of Units
Bitcoin unit converter

1. We could already have lower denominations through Lightning. Though this problem is just so far in the future that I shouldn't think we should be thinking about it today. So much things to prioritize.

2. Government's going back to an asset-backed money is next to impossible knowing how much power they gained through the current fiat system.

Precise. Thank you!

Both of them aren't a good solution because, the option one is Bitcoin fork while the option two is centralized shitcoin. Bitcoin fork isn't a real Bitcoin anymore since you've change the consensus and the protocol, while centralized shitcoin is really a worst enemy of a real Bitcoin.

I wouldn't worry to much if 1 satoshi is worth more than 1 dollar, because it just proving Bitcoin is expensive and they need to have more money in order to buy Bitcoin. Also you're possible to send Millisatoshi in Lightning network, maybe in the future we will use Lightning network more widely than the Bitcoin on-chain network.

Hi,

As we know Bitcoin was made for cash payments in the world. It’s system is designed and updated to perform over hundred years. Thus, one day with dollar inflation (if it still exists) and bitcoin desinflation, 1 satoshi or 0,00000001 BTC would has 1 dollar price or more. So, how to buy a item that cost less than the 1 satoshi price, considering that it is the smallest division (the BTC atom) of the bitcoin?

The way I see it today, this problem could have two solutions:

1. An upgrade making BTC having more divisible units. I think this is difficult because the bitcoin community has to change the original design of the project. And Satoshi Nakamoto must had thought that this day would come, was itentional the ideia that 1 satoshi could value the price of a expensive itens without the option of a pay back? We have to think that the purpose on the subject of bitcoin’s whitepapper mention the words cash payments, so bitcoin was design to it.

Or

2. Governments make it’s coins starts to being backed in bitcoin. Thus it’s coins and money could be more divisible and it would be a integrative way of the two systems. This way could be more easy to change and modify as soon as needed without any change in the original bitcoin’s system. However, people are going to not moving satoshis in the Bitcoin network, using the governmental network to pay things that cost less than 1 satoshi with payback.

Today bitcoin is saw too as a value reseve over time (as gold) but the bitcoin originally was design to cash payments. So what do you think if the day the 1 satoshi has the price of expensive things? How to make a payback?

Thank you