That is indeed possible if $ has left no value xD
There is simple maths to it there could be only 2,100,000,000,000,000 satoshi's and the earth holds approx. 256,000,000,000 USD.
So assuming 1 satoshi's value turns to be 1 USD. Then either USD has devalued to being worthless.
So sorry to shatter everyones dreams but technically most of us wont be rich then!
Topic: What will happen when 1 satoshi is $ 1? - page 20. (Read 17286 times)
If 1 satoshi will cost 1$ then i can make my dream come true now. I can even give my parents what they deserve. I don't need to find some regular job and just focus at earning bitcoin. If that would really happen all of us bitcoiners will be rich and people that laugh at us before will regret what they have said about bitcoin. And i think bitcoin whales will be the richest people in the world.
If one satoshi will be up to $1 I will one of the most rich guy in the clan of my father and mother's side. But I think this is quite far to happen.
And most of the people will earn from faucets and that will be their main job for many years and all of the faucet owners will be rich too.
Because they can get more advertisers and viewers at the same time.
And most of the people will earn from faucets and that will be their main job for many years and all of the faucet owners will be rich too.
Because they can get more advertisers and viewers at the same time.
If this is something I am curious about, can bitcoin core software be modified?
Because there are less money than 1 dollar. For example, when a product costs 50 cents, how will a person buy it?
Perhaps we need smaller units than 1 satoshi?
Because there are less money than 1 dollar. For example, when a product costs 50 cents, how will a person buy it?
Perhaps we need smaller units than 1 satoshi?
I think if this thing will happen, then I am sure that there would be no more goods or stuffs that can be buy for less than $1, because maybe, it will be 10-20 years from now before 1 satoshi will be going to equal to $1, which is really a big amount for just 1 satoshi. Also, in that time, all the bitcoin users will become Billionaires and if all the people all around the world do have Satoshi, then, there would be no more homeless people walking around asking for money, for them to get themselves a food.
There would be no more Poverty in this world, and I think that is great. We could even turn this world into a better one, if we are all going to be UNITED.
Yes the day is not too far away because the price is up soaring like rocket. And its already like gold a digital gold. And I think we will use satoshi as the unit of bitcoin.
although the price of bitcoin toward the moon though it would be impossible for bitcoin to have a very high price to 1 satoshi worth 1 dollar. it is impossible dude 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?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
for sure the price of one bitcoin would be on a million dollar and all bitcoin made by satoshi will be totally mined . also it would be harder to earn even 1 satoshi and there will be many changes in terms of transactions and to the confirmations . many people who have kept and hoard their coin will be very happy if ever it happens . but the sad thing is that $1 per 1 satoshi is impossible .
If 1 satoshi is equal to 1 dollar, I wonder how will we pay the fee's in cents? It's good to claim faucets, and all other waist of time jobs cause with this prediction everyone here will be a millionaire. 10 mBTC to be 1 million dollars, in this scenario I'm multi millionaire, this will not happen in my lifetime, even bitcoin price is increasing each year, this is very hard for my brain to realize, can we be so lucky?
Obviously long before a satoshi is a dollar the code would be changed so it could be broken down to 10,12,16 decimal places. It's kind of a no brainer.
What you need to realize is that if there are 21M bitcoins and each of them costs $100M (1 satoshi = $1) then the market cap would be 2.1E15 or 2.1 quadrillion dollars. It's not going to happen. That's higher than the entire world's money supply. It's just never ever ever going to happen (unless the dollar is virtually worthless).
Thanks for nice explanation about how bitcoin code can be changed. I don't think this will be so easy, but not impossible.
World money supply is growing, and maybe it's silly to think that bitcoin can worth so much, but just maybe bitcoin can make bigger success then everyone hoping. Uniting all world under one currency, universal one can be achieved one day in the future. Don't get me wrong but in ideal circumstances anything can happen, in far far future who knows what will happen.
Some more may get lost in future, so the actual number of existing bitcoin is much less than 21 millions.
$1 a Satoshi is not impossible.
If the bitcoin price will be maxed it its maximum high price like 1 satoshi is $1 then it will create a massive panic selling because everyone will be excited to get their profit on their bitcoin because even though they just got 10k satoshi it is equal to 10k$ so it will be a chaos and make a very huge dump for the bitcoin price.
Yes the day is not too far away because the price is up soaring like rocket. And its already like gold a digital gold. And I think we will use satoshi as the unit of bitcoin.
we are already using satoshi as the unit of bitcoin. and i am hopeful that bitcoin price will increase too much. and a time will really come when bitcoin price will reach to 1$ per satoshi. I think if that time comes, 1 bitcoin can make you an instant millionaire. But I think I will not be living that long for that bitcoin price.
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 .What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
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
Yes the day is not too far away because the price is up soaring like rocket. And its already like gold a digital gold. And I think we will use satoshi as the unit of bitcoin.
we are already using satoshi as the unit of bitcoin. and i am hopeful that bitcoin price will increase too much. and a time will really come when bitcoin price will reach to 1$ per satoshi. wow , its amazing .
so people keeping their bitcoin will be rich in future
but maybe it cost a long time for making 1 satoshi became $1
or it will just never happen, for this to become real the bitcoin price should increase 100 thousand times what is pretty much impossible and even if this happens then we will have no dollars any more because the bitcoin will have fiat replaced. We would need to wait at least a hundred years in order for this to become real and when satoshi becomes worth one dollar bitcoin will be used as a national currency of each and every country.so people keeping their bitcoin will be rich in future
but maybe it cost a long time for making 1 satoshi became $1
The price could go really high after all coins are mined, but I don't think it can get that high. The growth will probably be slow but steady but will take years to get to even 5 figures per Bitcoin.
Most coins have been mined already, so we will continue to see a big rise on the price of bitcoin since all bitcoins now have an owner, if we take into account the amount of coins that have been lost or are inaccessible to their rightful owners then the value of bitcoin will be multiplied even further.
Yes the day is not too far away because the price is up soaring like rocket. And its already like gold a digital gold. And I think we will use satoshi as the unit of bitcoin.
If 1 satoshi is equal to 1 dollar, I wonder how will we pay the fee's in cents? It's good to claim faucets, and all other waist of time jobs cause with this prediction everyone here will be a millionaire. 10 mBTC to be 1 million dollars, in this scenario I'm multi millionaire, this will not happen in my lifetime, even bitcoin price is increasing each year, this is very hard for my brain to realize, can we be so lucky?
Obviously long before a satoshi is a dollar the code would be changed so it could be broken down to 10,12,16 decimal places. It's kind of a no brainer.
What you need to realize is that if there are 21M bitcoins and each of them costs $100M (1 satoshi = $1) then the market cap would be 2.1E15 or 2.1 quadrillion dollars. It's not going to happen. That's higher than the entire world's money supply. It's just never ever ever going to happen (unless the dollar is virtually worthless).
Thanks for nice explanation about how bitcoin code can be changed. I don't think this will be so easy, but not impossible.
World money supply is growing, and maybe it's silly to think that bitcoin can worth so much, but just maybe bitcoin can make bigger success then everyone hoping. Uniting all world under one currency, universal one can be achieved one day in the future. Don't get me wrong but in ideal circumstances anything can happen, in far far future who knows what will happen.
The price could go really high after all coins are mined, but I don't think it can get that high. The growth will probably be slow but steady but will take years to get to even 5 figures per Bitcoin.
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?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
Of course if that really happen many will become reach who hold bitcoin in the entire world. I can't imagine how people would be happy if that's really happen, I think the poverty would instantly being resolve if many will become rich.
When a satoshi is worth $1, a bitcoin will be worth $100,000,000!
Yeah, exactly. If and when that happens, signature campaigns will be paying about 3-4 satoshis per week. Think about it. But we're nowhere near that, and I don't anticipate that happening in any of our lifetimes, and probably not even in our great-grandkids' life times either.
Also till now we never saw any sort of return with gold or any stock so how can we expect something like this from bitcoin.
what 0.0001$ or something it may be even low but excepting 1 satoshi = 1$ is something that impossible and we
may never achieve that gold until the supply is over.
When a satoshi is worth $1, a bitcoin will be worth $100,000,000!
Yeah, exactly. If and when that happens, signature campaigns will be paying about 3-4 satoshis per week. Think about it. But we're nowhere near that, and I don't anticipate that happening in any of our lifetimes, and probably not even in our great-grandkids' life times either.
Also till now we never saw any sort of return with gold or any stock so how can we expect something like this from bitcoin.
what 0.0001$ or something it may be even low but excepting 1 satoshi = 1$ is something that impossible and we
may never achieve that gold until the supply is over.
I don't think satoshi's such an increased value. If such a growth happens sure most of us will become rich. The faucets sites will be encountering high traffic and can see people using faucets more than our forum.
Faucets by that time will close down or at maybe have much lesser rewards. 1 satoshi is 1 dollar, theoretically in this thread, and you only earn 0.1 cents per every claim in faucet sites. So that will be 0.001 satoshis for every claim if they lower it. Since there's no unit lower than one satoshi, the user can only pay out after the user have made 1 satoshi which is after 1000 claims.
Even after the price of bitcoin has increased a lot, faucets will still be a waste of time. To be honest, I'm wondering what on earth does faucet users do in life? Is their whole day or their life has very little value that they would accept working for hours just to get centavos.
It's true. Wouldn't be possible to add more decimal houses to Bitcoin instead of the currently 8?
I'm interested in knowing the real implications of this question, people keep saying "oh, we'd just use more decimal places" but it doesn't look that simple to me.
The code doesn't use Bitcoins, it simply counts satoshis. A "Bitcoin" is simply the label for 100 million satoshis. So you aren't "adding decimal places" you would have to actually introduce the concept of the digital point and thus fractions of a satoshi - the implications would be very far reaching and (I suspect) it would be very, very difficult to do.
It would be a fraction lower than 1 satoshi, probably with another name. Something like 100 of this fraction is equal to 1 satoshi. I don't know if it's possible.
If it's too hard or not interesting for developers, probably alt coins would be used to send cheaper transactions like the DOGE coin or any other alt.
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