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Topic: What will happen when 1 satoshi is $ 1? - page 21. (Read 17286 times)

hero member
Activity: 1029
Merit: 712
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.
sr. member
Activity: 1246
Merit: 255
1 satoshi - 1 dollar will be fine as a "wish" every cryptographer becomes infact wealthy,but the value of currency in this condition will bring adverse effect on other trades and involved economy.
hero member
Activity: 1190
Merit: 525
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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?

If it's not possible, it would be the end of the instantly paying faucets. Only faucets with threshold would work, and it's not interesting for faucet users, because many scammers use this strategy to make people claim on faucets and don't earn anything in the end.
hero member
Activity: 826
Merit: 502
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.
hero member
Activity: 2884
Merit: 794
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if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.
It's all right, but what to do with limited nature of bitcoin? Wealth is spreading among people not evenly, but bitcoin is limited by 21 milions. I think in the case of such price bitcoin will have to be replaced by another crypto currency which is not so limited or which has higher number of limit; or bitcoin will have to changed itself to be enough fdor all people.
There is enough bitcoin for everyone, this is the same false argument used against gold, what will happen is that we will use very small amounts of bitcoins for our transactions since bitcoin will become very valuable, and that is a good thing for all of us.
legendary
Activity: 966
Merit: 1042
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 = $1) then the market cap would be 2.1E15 or 2.1 quadrillion dollars. It's not going to happen. That's higher than the entire world's money supply. It's just never ever ever going to happen (unless the dollar is virtually worthless).
sr. member
Activity: 434
Merit: 250
If one day, the price of 1 satoshi will be 1$. Currently all users here will be millionaires. because i think many of people here have a lot of bitcoin.
So i hope one day 1 satoshi will be 1$ ,that is to say 1 BTC = 100,000,000$. It's extrammly. Maybe it will be happen after 40 years or maybe more. Around 10-15 halving. I hope that i live this moment.
sr. member
Activity: 1372
Merit: 348
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 do believe that the decimals can be modified according to the needs.  It is only a code that the core developer can reprogrammed if they wanted to or the situation that need it to make satoshi broken into smaller parts.  And as usual transaction will still the same as it was before.  The process of converting USD price to BTC price will be done and customer need to send BTC to  a specific BTC address.
hero member
Activity: 1190
Merit: 534
In next month (if every bitcoin user thinks so), the price is determined by the law of demand and supply. If buyers are willing to pay $1 for a Satoshi then that will be the price of the satoshi. However, practically it is not possible anytime in near future because it will require huge market capital and unless warren buffet, Bill gates decides to pour their money in bitcoin, such thing is out of question as of now.
It would really require huge demand on bitcoin if the price per satoshi is $1 and considering the price per bitcoin is very high which isnt possible to happen in our lifetime or on next generation but still no one knows on what would happen but for sure government would create their own e-currency in future which would be a big blockage on bitcoins progress.

It all depends on if and then which absolutely has no meaning. Technically $1 per satoshi is not possible anytime near future but theoretically, it is possible in case of a devaluation of the dollar. It will have the whole new world and aspects if governments launch their own cryptocurrencies. Ultimately they need control so it is less likely to happen.
hero member
Activity: 588
Merit: 500
if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.
It's all right, but what to do with limited nature of bitcoin? Wealth is spreading among people not evenly, but bitcoin is limited by 21 milions. I think in the case of such price bitcoin will have to be replaced by another crypto currency which is not so limited or which has higher number of limit; or bitcoin will have to changed itself to be enough fdor all people.
legendary
Activity: 3248
Merit: 1179
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?
hero member
Activity: 2814
Merit: 618
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Now in this time, it is imagination, but in reality it take time, may be after 10 or 15 years ago, if bitcoin will be remain in this world, than 1 Satoshi will be equal $1. But i wish the day will come soon, than definitely bitcoin make us rich.
sr. member
Activity: 1176
Merit: 252
if one satoshi to $ 1, I think at that time, everyone will hunt bitcoin. even with a faucet, you can generate a lot of dollars. Well, for people who already have a bitcoin, I think they are the ones who have been fortunate, especially if they have a lot of bitcoin.
sr. member
Activity: 700
Merit: 330
At the current price, 1BTC = $1260, so 1mBTC = $1.26 and 1 satoshi is $ 0.0000126. The increase has to be about 80,000 times. Not going to happen in foreseeable future.

If Bitcoin keeps growing 5% a month as it does from its lows in 2014 till now, we will see 1 satoshi = $1 in the year 2037. But its capitalization would be 1600 trillions of dollars which is 20-25 times more than total money supply on Earth today and 8-10 times more than estimated money supply in 2037. So I think it will not happen.
sr. member
Activity: 532
Merit: 250
BTC. ETC. EOS
1 satoshi = 1$ happening would be a dream come true. But based on the current situation I don't see that happening soon. There will always be traders trying to sell in and this will definitely affect the price. Perhaps in the next 50 years, if things are going well for bitcoin, it might just happen.

Who knows, because you could just buy ~3200 bitcoin for $1 back in 2009 or so. Now 1250 USD is 1 bitcoin. Things can change with time.
legendary
Activity: 2282
Merit: 1023
At the current price, 1BTC = $1260, so 1mBTC = $1.26 and 1 satoshi is $ 0.0000126. The increase has to be about 80,000 times. Not going to happen in foreseeable future.
legendary
Activity: 1386
Merit: 1020
DGbet.fun - Crypto Sportsbook
In next month (if every bitcoin user thinks so), the price is determined by the law of demand and supply. If buyers are willing to pay $1 for a Satoshi then that will be the price of the satoshi. However, practically it is not possible anytime in near future because it will require huge market capital and unless warren buffet, Bill gates decides to pour their money in bitcoin, such thing is out of question as of now.
It would really require huge demand on bitcoin if the price per satoshi is $1 and considering the price per bitcoin is very high which isnt possible to happen in our lifetime or on next generation but still no one knows on what would happen but for sure government would create their own e-currency in future which would be a big blockage on bitcoins progress.
hero member
Activity: 1190
Merit: 534
In next month (if every bitcoin user thinks so), the price is determined by the law of demand and supply. If buyers are willing to pay $1 for a Satoshi then that will be the price of the satoshi. However, practically it is not possible anytime in near future because it will require huge market capital and unless warren buffet, Bill gates decides to pour their money in bitcoin, such thing is out of question as of now.
legendary
Activity: 2296
Merit: 1038
Bitcoin Trader
I saw the 0.001 BTC is now $ 1.2 I think to get the price to be great again, it seems for $ 1 probably will reduce the zeros behind point, 1 or 2 years longer 0.0001 BTC for $ 1 may be so if the price of bitcoin really increased by at least $ 1 for 1000 satoshi

full member
Activity: 421
Merit: 100
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?

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.
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