Exchanges should start selling bitcoin by the Satoshi - here's why

zoidsoft (62)in #bitcoin • 7 years ago (edited)

I frequently hear the complaint from those new to bitcoin that "it's so expensive" at $5700 / BTC. I frequently hear "I can't even buy a full bitcoin". Some people aren't put off by the math either due to wealth or mathematical understanding, but many find it hard to spend $500 and have a balance that looks like this:

0.08603176

Psychologically this looks small. But the smallest unit of bitcoin is 0.00000001 called a Satoshi. Right now a Satoshi is very inexpensive (far less than a penny):

$0.0000572

Screen Shot 2017-10-16 at 11.02.06 AM.png
(Google Images - Wikimedia Commons)

So the same amount in Satoshi's, a $500 purchase displayed in Satoshi's looks like this:

8,603,176

Then if John McAfee is right with Bitcoin at $500K by 2020, that 8.6 million Satoshi's will be worth:

$43,015.88

Donations (public bitcoin address):

3FwxQsa7gmQ7c1GXJyvDTqmT6CM3mMEgcv

#money #cryptocurrency #crypto #ethereum

7 years ago in #bitcoin by zoidsoft (62)

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edfalis (33) 7 years ago

I guess using the Satoshi would be a bit like using lire!

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1 vote

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neri0x (62) 7 years ago

Nice way to put it and yes, people will have to start talking satoshis soon.

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Exchanges should start selling bitcoin by the Satoshi - here's why

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