What will happen when 1 satoshi is $ 1? - page 10.

Xester

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Quote from: skorupi17 on April 09, 2017, 11:16:21 AM

When the value of Satoshi became 1USD, then a Bitcoin will have a value of 100 million USD (credits to my calculator Grin

) but will this happen? I would think that the government or an international body will make their move in order to impede this type of event. This might cause chaos. Due to the very high value of bitcoin, many will attempt to earn just even a single one. Hackers will sprout everywhere, lurking, they will try their very best to hack bitcoin holders in order to steal bitcoins. Many forms of schemes might appear just to earn bitcoin. That is a type of scenario that the government will avoid and if that happens then it might trigger the total ban of bitcoin worldwide. All are just speculations, no hard proof but all are possible.

There will be no chaos and even government will not panic as how valuable bitcoin will be but it cannot replace the fiat currency. Government has seen some merits in bitcoin but they don’t consider bitcoin as a currency rather a valuable commodity that can be used a form of payment and nothing more. Thus even if bitcoin will have a 100 million dollar value the government will not panic since bitcoin will be still backed up by traditional currency.

phaddie

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Quote from: iqlimasyadiqa on April 09, 2017, 09:04:54 PM

Quote from: gabbie2010 on April 09, 2017, 03:14:11 PM

when 1 satoshi is 1$ people will pay more attention to filling faucets as a major source of bitcoin and more people will be attracted to bitcoins and people with bitcoins in their wallet will become richer.

just by playing faucet then the person can become rich. earn thousands of dollars in just a few minutes. it was a dream of all people in the world of course. Cheesy

And now that will always remain as a dream of people as we will never see that high price of bitcoins and if it does then everyone of us become will rich in future but that value is unrealistic to achieve in near future.

iqlimasyadiqa

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Quote from: gabbie2010 on April 09, 2017, 03:14:11 PM

when 1 satoshi is 1$ people will pay more attention to filling faucets as a major source of bitcoin and more people will be attracted to bitcoins and people with bitcoins in their wallet will become richer.

just by playing faucet then the person can become rich. earn thousands of dollars in just a few minutes. it was a dream of all people in the world of course. Cheesy

xhienigat

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If this will happen then every bitcoiner will be happy including me because my dream of being a billionaire will become true, but i guess this is just a wishful thinking for all of us bitcoiner. I don't think the government will allow things like this to happen, and for sure no more free faucets for everybody. Before going to this point maybe we have to consider a lot of things like how much would be the cost of the transaction fee, I'm pretty sure it will be a lot. The economy will be affected and people will go crazy trying their hardest just to earn 1BTC.

MyIdeas

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Quote from: pinkpanther03 on April 09, 2017, 11:57:04 AM

Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen.

I do not think that there will be any hurdle to happen that if governments started to accept bitcoin as then people will have full believe on bitcoin and the demand will be increased much higher level and so it may happen that 1 satoshi worth 1 dollar

hikedoon

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Quote from: Jemzx00 on April 09, 2017, 03:36:14 PM

Quote from: gabbie2010 on April 09, 2017, 03:14:11 PM

when 1 satoshi is 1$ people will pay more attention to filling faucets as a major source of bitcoin and more people will be attracted to bitcoins and people with bitcoins in their wallet will become richer.

Actually once satoshi's price goes that high then probably there would be no faucet anymore except for altcoin faucets. How can you supply a bitcoin faucet on which the lowest to be putted is 1$?

Quote from: hikedoon on April 09, 2017, 03:24:38 PM

If 1 satoshi is ever equal to $1 then you sig. spammers will have to post 10 times more gibberish to get your weekly $1 payout.
That's quite a depressing thought. Cry

There would be few signature campaign by then so signature spammers may just need to join some altcoin campaign to earn those.

That's even more depressing.
Sig.spammer pooled shitposting.
Just kill me now!

Jemzx00

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Quote from: gabbie2010 on April 09, 2017, 03:14:11 PM

when 1 satoshi is 1$ people will pay more attention to filling faucets as a major source of bitcoin and more people will be attracted to bitcoins and people with bitcoins in their wallet will become richer.

Actually once satoshi's price goes that high then probably there would be no faucet anymore except for altcoin faucets. How can you supply a bitcoin faucet on which the lowest to be putted is 1$?

Quote from: hikedoon on April 09, 2017, 03:24:38 PM

If 1 satoshi is ever equal to $1 then you sig. spammers will have to post 10 times more gibberish to get your weekly $1 payout.
That's quite a depressing thought. Cry

There would be few signature campaign by then so signature spammers may just need to join some altcoin campaign to earn those.

hikedoon

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If 1 satoshi is ever equal to $1 then you sig. spammers will have to post 10 times more gibberish to get your weekly $1 payout.
That's quite a depressing thought. Cry

gabbie2010

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when 1 satoshi is 1$ people will pay more attention to filling faucets as a major source of bitcoin and more people will be attracted to bitcoins and people with bitcoins in their wallet will become richer.

vrm86

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Quote from: poetra2501 on April 09, 2017, 12:22:36 PM

Quote from: pinkpanther03 on April 09, 2017, 11:57:04 AM

Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen.

If that's will be happen, the Bitcoiner surely have many homes, cars and apartments.
But I agree with you that, it's won't be happen. In my opinion the reasonable price is $10000 /BTC.

I agree, that predicting BTC price to be @10k$ at best could sound reasonable, however to me it's some kind of psychological barrier. Of course BTC marketcap won't ever exceed USD supply for instance, but why 10k$?
In 2010-11 it wasn't that obvious, that 1 BTC could ever be worth 1000$ Wink

Personally I would rather cease from predictions and be content with my wishes about Bitcoin future

xIIImaL

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Quote from: pinkpanther03 on April 09, 2017, 11:57:04 AM

Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen.

I don't think it will instantly happen that much pump in price. I am sure that bitcoin will reach to 1$ per satoshi as Satoshi Nakamota speculates and symptoms about the price also shows the same. If that happens fortunately in future. I would become millionaire without big efforts. Now bitcoin settled in the value around 1200$.

poetra2501

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Quote from: pinkpanther03 on April 09, 2017, 11:57:04 AM

Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen.

If that's will be happen, the Bitcoiner surely have many homes, cars and apartments.
But I agree with you that, it's won't be happen. In my opinion the reasonable price is $10000 /BTC.

pinkpanther03

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Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

All bitcoin holder surely will become rich instantly, and perhaps none of the non-bitcoin users will get curious about it instantly in the near future. But in my assessment that won't be happen.

batang_bitcoin

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Quote from: BitFinnese on April 09, 2017, 05:25:47 AM

Quote from: batang_bitcoin on April 09, 2017, 05:22:35 AM

Quote from: topbitcoin on April 09, 2017, 02:30:31 AM

hahahaha i hope it can be happen.. and if that happens, surely the difficulty in finding a bitcoin will increase.

Definitely the difficulty is going to become higher. But before that happens we need to collect as many as we can right now. And even we are going to own a single coin we will be wealthy enough. But I think it will take a lot of years before that will happen.

Difficulty is determined by the hash power that is mining the network. It is understood that once Bitcoin become 1 dollar per satoshi, a massive hash will join the mining competition. But to some make up scenario, Bitcoin may worth $100m but it is possible that difficulty will become less if the mining power is lessen.

If that is so, then I'm talking about the difficulty not about mining. But by earning them, since most of the people are not mining, working for bitcoin by that time will be hard. And it's like that people are going to have hard time on earning 0.001 BTC and there would be a lot of decimal places for each bitcoin transactions by that time.

skorupi17

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When the value of Satoshi became 1USD, then a Bitcoin will have a value of 100 million USD (credits to my calculator Grin

) but will this happen? I would think that the government or an international body will make their move in order to impede this type of event. This might cause chaos. Due to the very high value of bitcoin, many will attempt to earn just even a single one. Hackers will sprout everywhere, lurking, they will try their very best to hack bitcoin holders in order to steal bitcoins. Many forms of schemes might appear just to earn bitcoin. That is a type of scenario that the government will avoid and if that happens then it might trigger the total ban of bitcoin worldwide. All are just speculations, no hard proof but all are possible.

paul gatt

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Quote from: dothebeats on April 09, 2017, 06:44:00 AM

If in case that happens, it's either USD has experienced hyperinflation or most people jumped into the btc train. I don't really see that happening without hyperinflation because theoretically, 1 bitcoin would cost $100 million, which is an awful lot and even TA suggests that it's not possible within the next century or so.

Hyper inflation, I would love to use your words, the economic crisis will surely happen, and it will destroy the economy of the whole world. Let's try to think, if the whole world uses bitcoin, and when it reaches that value, then suddenly it disappears or collapses. I think it will be a disaster for everyone. It was horrible. And I see that it will never happen even after two centuries.

dothebeats

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If in case that happens, it's either USD has experienced hyperinflation or most people jumped into the btc train. I don't really see that happening without hyperinflation because theoretically, 1 bitcoin would cost $100 million, which is an awful lot and even TA suggests that it's not possible within the next century or so.

MWesterweele

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Quote from: LibreMan on February 27, 2017, 02:23:25 AM

What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?

If it happen , wow I am a billionare because I have many satoshis hehe. And I think faucets site will be bankrupt and more investments site will come. They will create more and more site , and it means many people will be scamed , because many people will be greed. Everyone wants to have money than others, so for the sake of their money others will be fooled.

BitFinnese

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Quote from: batang_bitcoin on April 09, 2017, 05:22:35 AM

Quote from: topbitcoin on April 09, 2017, 02:30:31 AM

hahahaha i hope it can be happen.. and if that happens, surely the difficulty in finding a bitcoin will increase.

Definitely the difficulty is going to become higher. But before that happens we need to collect as many as we can right now. And even we are going to own a single coin we will be wealthy enough. But I think it will take a lot of years before that will happen.

Difficulty is determined by the hash power that is mining the network. It is understood that once Bitcoin become 1 dollar per satoshi, a massive hash will join the mining competition. But to some make up scenario, Bitcoin may worth $100m but it is possible that difficulty will become less if the mining power is lessen.

batang_bitcoin

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Quote from: topbitcoin on April 09, 2017, 02:30:31 AM

hahahaha i hope it can be happen.. and if that happens, surely the difficulty in finding a bitcoin will increase.

Definitely the difficulty is going to become higher. But before that happens we need to collect as many as we can right now. And even we are going to own a single coin we will be wealthy enough. But I think it will take a lot of years before that will happen.

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