What will happen when 1 satoshi is $ 1? - page 13.

n2004al

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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?

Very easy thing. First the time when 1 satoshi will be 1 us dollar is very loin and so bitcoin have the time to "think" about this. But even if would be near it will be enough to divide the satoshi in the same way like bitcoin (so with 8 mini division part) and everything is made.

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Quote from: soul-impact on April 05, 2017, 11:42:09 AM

Quote from: pedagang2 on March 08, 2017, 01:34:15 AM

if 1 satoshi is 1$ , i just save 1billion satoshi and exchange it Grin

it is estimate with 10 Bitcoin. Have you had enough money to buy 10 Bitcoin yet? I doubt that you can buy 10 Bitcoin at the moment since I will cost you at least $11000. Keep dreaming boy, nobody tax your dream. You can become a billionaire if you hold your Bitcoin for the next 10 years

A part of me is telling that it is actually possible in the future, may be 10-15 years but it is a possibility.
And holding Bitcoin is no new thing now, there are people whom I personally know who are holding their bitcoins from the start and that still are holding.

soul-impact

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Quote from: pedagang2 on March 08, 2017, 01:34:15 AM

if 1 satoshi is 1$ , i just save 1billion satoshi and exchange it Grin

it is estimate with 10 Bitcoin. Have you had enough money to buy 10 Bitcoin yet? I doubt that you can buy 10 Bitcoin at the moment since I will cost you at least $11000. Keep dreaming boy, nobody tax your dream. You can become a billionaire if you hold your Bitcoin for the next 10 years

NEWGOODOUBLE

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Quote from: Quietman on March 24, 2017, 04:53:00 PM

Quote from: LibreMan on February 27, 2017, 03:15:56 AM

Perhaps we need smaller units than 1 satoshi?

I agree with you. This is undeniably needed since $1 is not the smallest unit of money and satoshi, in contrast, is the smallest unit of bitcoin. So if that (Satoshi becomes equal to $1) happens, there has to be Satoshi Jr. Grin

Lol I thought it just laughing. you know to get 1 satoshi it is a very easy thing. and if one satoshi = 1 dollar. what will happen to the world after that?

Hanako

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Quote from: noictib on February 27, 2017, 02:33:08 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?

In my opinion it will not happens .
Because about 100000 satoshi is equal to 1$ then you can think that if it will happen only when the price of bitcoin increase about one lakh time the current price . Which is Impossible for about 10-20 years .
But.if it would be then surely we will restricted to make transaction of minimum 10$ with 0.25satoshi fee of transaction

the thought is too good to be true for the moment. i agree with you that it is impossibe too, to even achieve that 1 sats will be equal to 1 dollar. it takes a lot of time for bitcoin to come to that point. time, efforts, developments perhaps.

and if that happens, im sure fees will increase too. as the price of bitcoin increases, the fees increases as well.

Doamader

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At the moment is getting more easy to 1 bitcoin reach again the 1 dollars value, with soo many attempts to try to change the coin that has been created and since those hadnt been changed, now the core looks like dont know what is best to bitcoin anymore, and their solution will make price crash, how long people will keep their investement at bitcoin?

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Quote from: Quietman on March 24, 2017, 04:53:00 PM

Quote from: LibreMan on February 27, 2017, 03:15:56 AM

Perhaps we need smaller units than 1 satoshi?

I agree with you. This is undeniably needed since $1 is not the smallest unit of money and satoshi, in contrast, is the smallest unit of bitcoin. So if that (Satoshi becomes equal to $1) happens, there has to be Satoshi Jr. Grin

if bitcoin worth that high of course we will need a smaller unit than 1 satoshi. for under 1 dollar is also still there? but is it possible to happen?

andrew24p

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dont think 1 satoshi will ever be worth 1 USD too much bitcoin not enough USD to make that happen.

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1. That would be awesome, but it is not going to happen. It would take a long time to get there, but the price does not only go up.
2. I do not know if it is possible, but I guess it could be modified in some way. But I guess the answer does not matter, since it wont happen.

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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 that will happen in the future
you will start to think if you will send bitcoin or not because of its fee

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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?

How I wish that things to be happen in reality. Cheesy

Perhaps, all bitcoin community who have a satoshi to their own bitcoin storage wallet will instantly become a millionaire.

mmo_online_1981

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That I have many money, because I have a 0.003 BTC
Grin

Mvaporis1961

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If 1 satoshi is equal to 1$ then 1 bitcoin would cost $100m that time if my calculations is correct. If that would happen then all of us would be really rich and will be living a wealthy life. Our whole life will be secured and even our future generations.

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Quote from: LibreMan on April 02, 2017, 05:36:47 PM

Quote from: meliodas on March 08, 2017, 09:58:53 AM

Well I think that it is really hard to get the Bitcoin price that high,
I mean if that ever happens 1 Bitcoin would be worth $100,000,000 it seems pretty impossible,
But I also want it to happen.

It does not make any sense to me that such a thing happens. For example, when a bitcoin is $ 10,000 many people will sell their btcs. Nobody expects to be $ 100,000,000. Already the price increase will be small in time. Nobody keeps the bitcoins in his hand for so long.

yes bitcoin is becoming more and more stronger from time to time therefore it cannot happen.

LibreMan

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Quote from: meliodas on March 08, 2017, 09:58:53 AM

Well I think that it is really hard to get the Bitcoin price that high,
I mean if that ever happens 1 Bitcoin would be worth $100,000,000 it seems pretty impossible,
But I also want it to happen.

It does not make any sense to me that such a thing happens. For example, when a bitcoin is $ 10,000 many people will sell their btcs. Nobody expects to be $ 100,000,000. Already the price increase will be small in time. Nobody keeps the bitcoins in his hand for so long.

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Quote from: LibreMan on February 27, 2017, 03:15:56 AM

Perhaps we need smaller units than 1 satoshi?

I agree with you. This is undeniably needed since $1 is not the smallest unit of money and satoshi, in contrast, is the smallest unit of bitcoin. So if that (Satoshi becomes equal to $1) happens, there has to be Satoshi Jr. Grin

Quietman

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This is a dream come true to everyone here. Due to the high value of satoshi, everyone who's holding even a single bitcoin will become rich in an instant. But before that, is this really possible? Will the government step in in any way?

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Quote from: Blackdeath on March 22, 2017, 09:37:46 AM

Quote from: artows21 on March 19, 2017, 05:05:52 AM

I think the chance that this happens is very low, it is almost impossible.
Try to imagine, if the price of 1 satoshi is $ 1, the Bitcoin will cost $ 100 million. It is a terrible figure, it's too big.
Currently the price of Bitcoin is about $ 1,170, so if you have $ 1, you will have 100000 satoshi. This shows that the price of 1 satoshi is $ 1 will be very unlikely. The value of Bitcoin is growing very fast, it is very developed but it remains at a certain level.
If this happens I think there will be many people become millionaires because many people have more than 1BTC and the world economy will be able to big changes and that fact is almost impossible.

True, it is impossible for satoshi to become same value as dollar. I can't imagine,if that happens Bitcoin will become 100 000 000 and many bitcoin users will become billionaire. I think that might not happen because its too big, anyone can be rich in a such time through faucets. And it's unfair for those people who used bitcoin for a long time, they work hard inorder to gain bitcoin.

As mentioned bitcoin will never reach such a big value as mentioned in the above quote. If it becomes reality then being billionaire is a simple matter as well the scammers and the hackers around the digital currency network will increase making it an insecure place to hold big number of bitcoins.

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Quote from: artows21 on March 19, 2017, 05:05:52 AM

I think the chance that this happens is very low, it is almost impossible.
Try to imagine, if the price of 1 satoshi is $ 1, the Bitcoin will cost $ 100 million. It is a terrible figure, it's too big.
Currently the price of Bitcoin is about $ 1,170, so if you have $ 1, you will have 100000 satoshi. This shows that the price of 1 satoshi is $ 1 will be very unlikely. The value of Bitcoin is growing very fast, it is very developed but it remains at a certain level.
If this happens I think there will be many people become millionaires because many people have more than 1BTC and the world economy will be able to big changes and that fact is almost impossible.

True, it is impossible for satoshi to become same value as dollar. I can't imagine,if that happens Bitcoin will become 100 000 000 and many bitcoin users will become billionaire. I think that might not happen because its too big, anyone can be rich in a such time through faucets. And it's unfair for those people who used bitcoin for a long time, they work hard inorder to gain bitcoin.

crypto1010

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that can complicate the btc network just how are we going to be spending our bitcoins ,and how much fees are we going to be paying?

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