What will happen when 1 satoshi is $ 1? - page 17.

JanisPetke

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Quote from: NEWGOODOUBLE on March 13, 2017, 04:30:09 AM

Quote from: Text on March 13, 2017, 03:15:51 AM

I wish it happens for an instant then I'll be a millionire in no time just like winning the lottery jackpot. No other altcoin can beat BTC, it would be more popular and the population would get bigger. Early adopters would be desperate on how to get a single satoshi.

logically it might not happen mate because you know get 1 satoshi is very easy thing right ?
surely everyone in the world would be rich if this happens?

Some people were utterly delighted in the past, when they managed to convince someone to sell them two pizzas for 10,000 Bitcoins.

Even a minimum wage employee could have bought tens of thousands of bitcoins per year, had they so desired.
Surely everyone in the western world would have become rich if that were the case....

Minimii

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Quote from: Betwrong on March 13, 2017, 04:42:22 AM

Quote from: LibreMan on February 27, 2017, 01:23:25 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?

I think the maximum price which Bitcoin can ever reach is when 1 satoshi equals 1 cent, or $0.01. In that case the price of 1 Bitcoin will be $1,000,000 and thus the Market Cap of will be roughly around $15,000,000,000,000, or $15 trillion, which is probably not enough for Bitcoin being the only currency in the world but relatively similar to how many us dollars are in circulation today.

Exactly, that meaning 100 times more than $15,000,000,000,000 if 1 satoshi should reach 1 dollar. Seems not possible in my eyes at all.

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Betwrong

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Quote from: LibreMan on February 27, 2017, 01:23:25 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?

I think the maximum price which Bitcoin can ever reach is when 1 satoshi equals 1 cent, or $0.01. In that case the price of 1 Bitcoin will be $1,000,000 and thus the Market Cap of will be roughly around $15,000,000,000,000, or $15 trillion, which is probably not enough for Bitcoin being the only currency in the world but relatively similar to how many us dollars are in circulation today.

Minimii

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Just imagine all the money that needs to be put in BTC for this to happen.

It surely wont happen during our lifetime IMO.

But sure, would be nice as all bitcoin holders would be crazy rich, which I doubt. Imagine a holder of 1000 BTC in this scenario.

The regular economy doesn't even have this amount of money to put in if not all money that exists is being put in the system.

NEWGOODOUBLE

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Quote from: Text on March 13, 2017, 03:15:51 AM

I wish it happens for an instant then I'll be a millionire in no time just like winning the lottery jackpot. No other altcoin can beat BTC, it would be more popular and the population would get bigger. Early adopters would be desperate on how to get a single satoshi.

logically it might not happen mate because you know get 1 satoshi is very easy thing right ?
surely everyone in the world would be rich if this happens?

Astvile

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All bitcoin users will be rich totally.Bitcoins will be harder and harder and mabe not be mined anymore or cannot obtain for free if 1 satoshi reaches 1$ mark.Sound impossible but ehat we know in what will happen in the future

Barbut

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Quote from: boyptc on March 13, 2017, 04:13:04 AM

If satoshi is equivalent to $1 then most of people here will not work anymore. They can become rich on a very easy way by selling the bitcoins they've got. And I wish that this will happen very soon so that I can buy the things that I keep on dreaming on. Most of the bitcoin users will be rich enough and have a decent life to live.

You will be rich, I will be rich, mostly people from here and few others. In this case current faucet prize at 200 satoshis per claim would be equivalent to 200 dollars in some moment in future. From this angle we cam became rich just from faucets.
Who knows when will this happen, price needs to be 100 millions for one btc, that even sounds impossible, but if that happen bitcoin code can be broken to more decimals, maybe we should try to create new name for new smallest bitcoin unit.

boyptc

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If satoshi is equivalent to $1 then most of people here will not work anymore. They can become rich on a very easy way by selling the bitcoins they've got. And I wish that this will happen very soon so that I can buy the things that I keep on dreaming on. Most of the bitcoin users will be rich enough and have a decent life to live.

bitgoldpanther1978

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Quote from: LibreMan on February 27, 2017, 01:23:25 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?

Wow! if one satoshi will become 1 dollar for sure all bitcoin lovers who keep and hold their bitcoin will become rich instantly. But isn't its impossible that to be happen? But I think if that happen too reaching 1 BTC will be very hard to achieve it Cheesy

Text

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I wish it happens for an instant then I'll be a millionire in no time just like winning the lottery jackpot. No other altcoin can beat BTC, it would be more popular and the population would get bigger. Early adopters would be desperate on how to get a single satoshi.

noictib

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Quote from: ilovefeetsmell on March 13, 2017, 02:50:40 AM

Quote from: LibreMan on February 27, 2017, 01:23:25 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?

When is 1 satoshi equivalent to 1 dollar? It is nice tho! You can buy and do anything for just one cent. If we reach 1 satoshi in 1 dollar, so does it mean we can't reach 1 btc because one satoshi is very valuable to us.

yeah , But here if the system of the transaction charge remained same than no one will make delays below of 10000$ .
Because this is a simple logic of every simple thinking person that if you will make transaction of 1$ then you will pay fee of 0.0001btc ( atleast ) that will be equal to10000$ Grin

.
Well currently this price of 1$=1satoshi is impossible ( atleast for 10 year this is not possible ) .

ilovefeetsmell

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Quote from: LibreMan on February 27, 2017, 01:23:25 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?

When is 1 satoshi equivalent to 1 dollar? It is nice tho! You can buy and do anything for just one cent. If we reach 1 satoshi in 1 dollar, so does it mean we can't reach 1 btc because one satoshi is very valuable to us.

FLoving

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Quote from: South Park on March 10, 2017, 01:57:17 PM

Quote from: BeGoods on March 07, 2017, 08:14:33 PM

Quote from: gichrys on March 07, 2017, 10:48:49 AM

Probably might not happen.. but if it happens might take over 100 years or another 2 world war..

of course, will never happen. Imagine how easy it is to earn $ 1 when 1 satoshi worth $ 1. I thought this would never happen. despite the war going on though dollar was the strongest currency so it is unlikely the dollar will be worth very cheap

If a satoshi was equivalent to 1 dollar you can bet that obtaining a satoshi will not be as easy as it is today, you can earn a few hundreds of satoshis through faucets, but if satoshi was worth a dollar and faucets still existed by that time you can be sure you will need to claim hundreds of time from the faucet just to get 1 satoshi.

That is right at that time none of the faucet will give a satoshi with just one claim as it will be worth higher than a claim. At that time there will be a need of further sub division of satoshi so that to maintain the regulation of it in the market. As then no one will be able to buy cheap things with bitcoin payment.

South Park

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Quote from: BeGoods on March 07, 2017, 08:14:33 PM

Quote from: gichrys on March 07, 2017, 10:48:49 AM

Probably might not happen.. but if it happens might take over 100 years or another 2 world war..

of course, will never happen. Imagine how easy it is to earn $ 1 when 1 satoshi worth $ 1. I thought this would never happen. despite the war going on though dollar was the strongest currency so it is unlikely the dollar will be worth very cheap

If a satoshi was equivalent to 1 dollar you can bet that obtaining a satoshi will not be as easy as it is today, you can earn a few hundreds of satoshis through faucets, but if satoshi was worth a dollar and faucets still existed by that time you can be sure you will need to claim hundreds of time from the faucet just to get 1 satoshi.

andrei56

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Quote from: deadpoolx on March 05, 2017, 03:22:56 PM

Quote from: LibreMan on February 27, 2017, 01:23:25 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?

The only thing that could make it happen would be a collapse in the economy, something unprecedented. In this case there would be a chance that fiat currencies would lose much value, and people would migrate to a more efficient currency. But as we all know, the Bitcoin network is not yet ready to deal with such traffic.

While the economies will need to collapse to see that kind of price, it is not as difficult to believe since the economies are as vulnerable as they have ever been, so while it is unlikely, it is possible.

enhu

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Quote from: Monnt on March 09, 2017, 10:57:48 AM

Quote from: xIIImaL on March 07, 2017, 12:11:18 PM

satoshi nakamota speculates bitcoin will reach 10000$ in the year of 2025.

Is this true ? But I believe bitcoin is going to reach this price level very well in advance like this year or next year will be more than enough time for bitcoin to reach there. When mass adoption is happening, I believe no one can predict how for bitcoin prices will be going. So, no wonder if this speculation goes wrong with lesser time span. I believe everyone will be loving that to happen.

When did satoshi said that?

lol3c

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Quote from: bawga on March 07, 2017, 10:40:55 AM

Quote from: LibreMan on February 27, 2017, 01:23:25 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?

Will be too expensive thing and no one will use bitcoin. Meanwhile there are cheap blockchains.

If the prices are high like that, there will be a lot of people interested in investing their money in Bitcoin. If poor people can not buy Bitcoin, rich people will use Bitcoin as same as gold. People will not stop using Bitcoin dude. It is so strong and so potential. There are many things inside which are not yet been discovered.

Monnt

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Quote from: xIIImaL on March 07, 2017, 12:11:18 PM

satoshi nakamota speculates bitcoin will reach 10000$ in the year of 2025.

Is this true ? But I believe bitcoin is going to reach this price level very well in advance like this year or next year will be more than enough time for bitcoin to reach there. When mass adoption is happening, I believe no one can predict how for bitcoin prices will be going. So, no wonder if this speculation goes wrong with lesser time span. I believe everyone will be loving that to happen.

South Park

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Quote from: 0xfff on March 07, 2017, 11:43:09 AM

Quote from: revo1044 on March 07, 2017, 10:58:19 AM

This is impossible, and if so, I will become rich.

No. If 1 satishi = $1 then $1 is worth nothing. Think of 1 satoshi as 1 zimbabwe dollar. NOTHING!!!! Grin

Zimbabwe's dollars got valueless because of hyperinflation but in bitcoin that cannot happen because there is a 21 million cap and the halving does the rest, so unless the devs modify the code and the ones running nodes accept it then that fate is never going to happen to bitcoin.

dragonusa9

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i dont really think 1 satoshi gonna be $1, satoshi is easy to get from the faucet.
so if the thing really happen, every faucet gonna down or scam the user right away also every currency in the world gonna down in a sec

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