Hidden value in Satoshi
I had to title this post "Hidden value in Satoshi" because for most of us the focus is on how much Bitcoin we want to accumulate, I personally check my Bitcoin worth against the Dollar and that's it. I completely ignore Satoshi being fragment of Bitcoin.
This habit is about to change after reading this article: Why is Bitcoin’s supply limit set to 21 million?
It took me a second read to begin to see the possibilities in relation to Bitcoin and Satoshi and it is an article I intend to read over and over again.
Now those Satoshis could be worth more in the future as Bitcoin adoption and probably as a global currency grows.
If Bitcoin were to grow to become the single world currency—replacing all those that the M1 figure is comprised of—then each BTC would be worth $1 million. Because there are 100 million satoshi in each Bitcoin, this would place the value of each satoshi at $0.01.
Source
0.00000001 (1 Satoshi) is currently equivalent to $ 0,000092 with Bitcoin's continuous appreciiation in value 1 Sat can begin to appreciate exponentially. The article explains two possible reason why Satoshi Nakamoto chose 21 million Bitcoin supply, quite an interesting read with salient insights. I always find the subject around Bitcoin too complex to comprehend the further I go into it.
So it will be wise to start appreciating every single Satoshi we own, most of us might never be a 1 Bitcoiner but those Sats can be of massive gains as well.
Every Satoshi is valuable to me from this day forward!
We owe it to ourselves to make Hive great
Posh
I don’t understand what value there is in being able to send a Satoshi when it costs about $1 worth of BTC to send it. The more popular BTC becomes, measured by transactions, the more it costs.
I’m going to read the article and then come back to see if my understanding was improved.
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Nope. It answered other questions. But it goes to showcase the problem even more. If 1 Satoshi was meant to eventually be worth 1€, then it would eventually have to cost 1€ per transaction. Miners would have to charge at least 1 Satoshi to process a transaction. Miners would eventually not be able to create new BTC, so they would rely on fees for income.
And then there is the matter that 1€ from 10 years ago was worth more. Too much mental gymnastics to try to make BTC work as an everyday currency. Perhaps there is more to BTC that would help me understand.
Posted Using LeoFinance
Nice to see your angle on this and definitely more to understand when it comes to Bitcoin and crypto in general. There are some complex maths going on here.
I still Bitcoin as more of a digital gold, which suits a store of value than currency but then even as a store of value Sats should rise in value I suppose.
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Those satoshis will become important as it will become harder to mine full bitcoin.
Every Satoshi counts, currently some national fiat currency are worth as low as one 1 SAT
Posted Using LeoFinance
Hey, sorry for hijacking your thread but I see you use the leofinance tag :)
Did you know here are certains benefits and reasons to publish your crypto/finance related posts through the native leointerface;
First, there is now a 10 % tax for posts not through leofinace
Also, it helps a lot with the seo of leofinance. Which means more traffic, which means more ad revenue for leo burns, which means a higher token price, which means more money for you, lel. Please see the following for more info:
Also, me and to my knowledge the other leo whales show a preference when voting for posts through the leo interface. Personally, it's the only ones I check when curating.
So, tldr. You get more leo. Leo gets more expensive and more leo are burned. We all get a lambo.
Posted Using LeoFinance
Thanks for pointing this out to me, I have recently just been using the leofinance tag and loving it, I will have to see how I can post via Leofinance and still get my posted curated by HODL community as a member of HODL community 🙂
Cheers.