There are extra digits that can be used, so if 1 satoshi was worth $1, something that would only happen if extreme hyperinflation takes hold, then 1/100ths of a satoshi could be used.
Like I say, 1 satoshi will never be worth even close to a 2016 $1, so will never need to be split. If inflation does mean that a satoshi is worth $1, then $1 will buy you nothing, so there will be no need to split it.
Topic: What will happen when 1 satoshi is $ 1? - page 27. (Read 17288 times)
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.
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?
what you are asking has been asked and discussed a thousand times, next time try searching first.
this scenario is not going to happen for many years, if it happens at all.
and in case something like that happened the code can be modified to have units smaller than satoshi. and with a fork the problem can be solved.
bitcoin core is a wallet, what needs to change in this hypothetical scenario is the bitcoin protocol.
That's what I wanted to learn. So this kind of update does not affect the bitcoin's working system, right?
I am new to bitcoin and mind other questions are coming.
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 guess, what will happen is really awesome, because 1 satoshi is 1 dollar oh come on, it is the thing that we are always dreaming to happen, and making something like this is really unforgettable. And I'm sure that many people will turn on doing bitcoin because it is an instant money, though it is going to take some time before it came true, many consequences bitcoin must experience first before reaching something like this, and for this thing to happen in the future, we must support bitcoin no matter what.
In general, everyone looks at the monies. Yes, if 1 satoshi is 1 dollar we are all rich.
But what I want to know is the technical part of the thing. Because such a situation will bring some problems with it.
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?
what you are asking has been asked and discussed a thousand times, next time try searching first.
this scenario is not going to happen for many years, if it happens at all.
and in case something like that happened the code can be modified to have units smaller than satoshi. and with a fork the problem can be solved.
bitcoin core is a wallet, what needs to change in this hypothetical scenario is the bitcoin protocol.
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 guess, what will happen is really awesome, because 1 satoshi is 1 dollar oh come on, it is the thing that we are always dreaming to happen, and making something like this is really unforgettable. And I'm sure that many people will turn on doing bitcoin because it is an instant money, though it is going to take some time before it came true, many consequences bitcoin must experience first before reaching something like this, and for this thing to happen in the future, we must support bitcoin no matter what.
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?
That means a holder of one bitcoin will be a billionaire in dollars. For me personally I pray that should happen as I will automatically because a billionaire in dollars. I doubt if this is possible in the next 50 years to come an by then I believe satoshi and others cryptographers will update the blockchain for a cent like value. I really wish this happen.
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.
i will waiting for this and i am sure that we all here is the multi millionaire because we have much of bitcoin in our wallet. maybe it could be happen but not in short time, we need more than 20 years to see this thing is happen. but still its really worth to waiting this and maybe our grant children that will see this price.
Oooh, good question!
When a satoshi is worth $1, a bitcoin will be worth $100,000,000!
The second question I cannot answer, but I'm sure some other bloke here can!
When a satoshi is worth $1, a bitcoin will be worth $100,000,000!
The second question I cannot answer, but I'm sure some other bloke here can!
What if bitcoin gains much more value than you anticipate? So what happens when 1 satoshi reaches the price of 1 dollar?
What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
In my opinion it will not happens .What kind of arrangement is made if payment is requested as Cent? Can the bitcoin core be modified?
Because about 100000 satoshi is equal to 1$ 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
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?
Jump to: