It is never gonna happen.
But theoritically, if it does, I believe that the cost of the products to buy with bitcoin will be higher.
It's just my opinion.
Topic: What will happen when 1 satoshi is $ 1? - page 26. (Read 17274 times)
May happen and that time will be a really really long time to be true. Every owner of a bitcoon is really rich that time. 1 satoshi is .00000001 bitcoin.
And seriously the transaction fees will be reaching its maximum too.
And seriously the transaction fees will be reaching its maximum too.
When a satoshi is worth $1, a bitcoin will be worth $100,000,000!
Yep, and so 100 GB blocks are needed if all transactions were 100% on-chain. Off-chain and/or side chains are obviously needed to address scaling, 100GB every 10 minutes might be difficult even given long term improvements in internet infrastructure, forget the short term.
I think you should focus your attention on how to get as much BTC as possible and not on these kind of what if questions.
If that would take place, I would wipe my ass with $100 bills and would not care about those problems.
If that would take place, I would wipe my ass with $100 bills and would not care about those problems.
That is just too much of a prediction and I dont think that will happen. Aint it a punch to the face for the American dollar? For something to be that much valuable will be eradicated in this world. Countries will fight against it and will not let it ruin the financial industry of the world.
We agree with this and will be happy with that kind of price but what about the rest of the world?
We agree with this and will be happy with that kind of price but what about the rest of the world?
I can't say a thing about the code and so I might be wrong but it seems like the guys from this forum are right:https://allcryptotalk.com/index.php?/topic/89-are-there-any-units-less-than-satoshi/. They say than satoshi is just 10 nanoBitcoins and so btc can be divided further if needed to pico, femto etc. As for the fee which is now 20 000 Satoshi, it will decrease eventually due to the halving. And as the price of bitcoin is quite dependent on miners, I think we won't face any problems with that.
It is highly unlikely something like this happens, unless the USD sees some form of hyper inflation.
By the time bitcoin would be so valuable, it wouldn't be compared to fiat anymore and you would simply pay xx satoshi for xx good.
If it really becomes so valuable that you would need less than a satoshi for let's say a loaf of bread, additional digits can be added, essentially creating a smaller unit than satoshi.
By the time bitcoin would be so valuable, it wouldn't be compared to fiat anymore and you would simply pay xx satoshi for xx good.
If it really becomes so valuable that you would need less than a satoshi for let's say a loaf of bread, additional digits can be added, essentially creating a smaller unit than satoshi.
Sounds great but this will not happen, at least not in our lifetime. That would mean that half of bitcoins users would be multimillionaires. I also think that bitcoin can't achieve so high value and if by some miracle still would, that would mean total financial rush on the market and change of economy.
I think it will never gonna happen since Bitcoin can only Increase up to $1k a year or more.
$ 100,000,000 is too big for a price of a BTC , we can only think about it
I think the name SATOSHI will be more commonly use since too much zeros is quite annoying.
Just Imagine Having a Wallet with BTC 0.00000001 balance on it
"SATS 1" or " Satoshi 1" will be much better
And only rich people can hold 1BTC, having 1 can make you a Multimillionaire
And for sure if 1 Satoshi price will be $1, it will be hard for us to earn.
I'm also thinking if 1SATS = $1, I think they need an additional zeros and a name for less than $1 worth of BTC..
Just sharing my Imagination
$ 100,000,000 is too big for a price of a BTC , we can only think about it
I think the name SATOSHI will be more commonly use since too much zeros is quite annoying.
Just Imagine Having a Wallet with BTC 0.00000001 balance on it
"SATS 1" or " Satoshi 1" will be much betterAnd only rich people can hold 1BTC, having 1 can make you a Multimillionaire
And for sure if 1 Satoshi price will be $1, it will be hard for us to earn.
I'm also thinking if 1SATS = $1, I think they need an additional zeros and a name for less than $1 worth of BTC..
Just sharing my Imagination
That means I will be a Billionaire and so is most people on this forum now. I believe by then Bitcoiners will be the ones controlling the world economy, the New World Order will set in. Roger Ver and co will be among the richest man in the world.
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.
For now it's like a dream within a dream . I'm not saying thats impossible but what I meant is we might be dead even if it happens .
I have seen that you are not very familiar to faucets? Which is actually a god thing cause its a waste of time but everytime that bitcoins price increases the rates on faucets decreases . Compared the rates now and the rates when I started clicking ads on faucets . The rates are lower today . That's why OP is asking if we can create a unit thats much lower than satoshi . If ever $1 = 1 sat
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 that that is just an outrageous statement. There is literally no chance for Bitcoin to reach 1 dollar per satoshi. Because that would mean that Bitcoin is worth over 100,000,000 dollars which is just insane. However if that did hypothetically happen, it would really be great for Bitcoin and everyone that has invested in Bitcoin so far, would earn a huge sum of money and I think we would all be happy. And I don't think people would be trading with cents because the transaction fee would be higher. So 1 dollar per satoshi is a good price because it is around double the average transaction fee. Maybe one day Bitcoin will reach that price, but I seriously doubt it. What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
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?
That will be a long way to go. Although, I will not say its impossible because even the price we are seeing for bitcoin today, quite a number of people would have said its not possible but at the same time, its not going to be easy if it becomes possible and when that happen, I see alot of faucet sites start giving out a fraction of cents, signature campaigns now paying in satoshis among other things because the price will be un-affordable to a lot of people...
This situation won't happen. You will be rich ofcourse if you have many satoshis. If 1 satoshi worth $1 then it means some bad economic crisis happen that made value of currency worthless. This is just a hypothetical situation but i feel dizzy thinking how much the transaction fee would cost.
The answer would be that I will be a Billionaire, even if I hold the Bitcoins which I have in my wallets right now. I don't think that Bitcoin will ever reach that point. If it does then it will not be a coin, it will become an asset for people to store their money in bulk.
What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
I find it as SF, to see 1 satoshi = 1$. However, let's see what can be done with part II:
Just think of GOLD. If you have a piece of gold and want to trade if for something else, you have 2 options:
* trade your gold for $ then buy the other thing for $
* add more things to your basket until you reach the value of your gold.
If/when Bitcoin will reach the point from your assumption, it will cease to be a coin. It will be too big/too expensive to be a coin. It will remain, however, a store of value.
Right now we have transaction fees of about 40 satoshis per byte.
A transaction has an average size of 250 Bytes, as far as I can remember.
If you combine those two numbers you get 10000 satoshis transaction fees.
And if 1 satoshi would equal 1 dollar, that would be 10000dollars transaction fees.
I think I would not pay that.
A transaction has an average size of 250 Bytes, as far as I can remember.
If you combine those two numbers you get 10000 satoshis transaction fees.
And if 1 satoshi would equal 1 dollar, that would be 10000dollars transaction fees.
I think I would not pay that.
The only way I see a single satoshi being one dollar, is if we're all in a post apoloclyptic world nuked to death.
this is fiction, it's absurd, will never be such a thing happens, the value of Bitcoin has great influence to real currency, countries will not let that happen, because if it that happens, the value of the currency will once again lost, the economic crisis happened, the whole world will fall into unrest. the purpose of the appearance is to reduce economic damage when a crisis occurs, it is not allowed to cause the opposite
What will happen if a satoshi is equal to $1? We're gonna be rich! But why not? Bitcoin has a limit of 21 million only(if im not mistaken). There billions of people around the world. If massive adoption occurred. Theres a possibilty we can achieve that price because the demand and the supply could determine what will be the price of bitcoin.
Although it's impossible because if that would happen so, Bitcoin's value would become hundred thousand dollars, however it's just imagination. If that happen so, transaction in blockchain would increase, resulting of increasing fees that would descourage businesses to use bitcoin as their means of payments since it would requires huge amount of fees. Jump to: