The Race To One Satoshi

in bitcoin •  last month 

Hi JessHODLrs

While many of us in crypto are stacking as much as we can look to either own 1 BTC or more than 1 BTC, the sad reality is there can only be a tiny amount of us who will ever be part of the 21 club with around 4 - 5 million Bitcoin already last forever. As humans, we cannot understand anything that is not linear, and our minds cannot comprehend exponential growth or future realities.

Our mind is crystalised in the present, and it's why so many of us need dis-education if we are to understand what BTC is and what it offers the world.

I've heard many people say oh no ones ever going to sell products for a price of 0.00000100 our minds have a bias to absolute numbers which is why many people getting into crypto would rather opt to buy a whole coin of an alt instead of buying a part of BTC.

Creating an alternative currency

The thing is if BTC were work as fiat, it would have inflated far past anything anyone could own and become impractical to use before it could gather a large enough market cap to rival fiat currencies. The protocol was brilliantly thought of to be able to sneak up without being noticed or taken seriously by authorities until it would become something that is a threat to the status quo.

The Race To 1 Satoshi

10 million Satoshis

The 10 million pieces that make up a Bitcoin are going to become increasingly popular and practical as we grow the lightning network which allows us to instantly transact at the satoshi level and make it cheaper to move BTC.

However, what is going to make Satoshis popular is the level of currency debasement we're seeing and how we're hyperinflation currency today.

While people in developed nations like the US, UK and across Europe won't see it yet as their currencies still have relative value compared to another fiat, all fiat is falling. Comparing fiat is like comparing two people wrestling each other while they are falling out of a plan and looking at who is on top fo whom.

Each day, week, year currency inflates satoshis become more practical. I'll give you an example of my own currency the South African Rand, US$1 gets you ZAR 17 right now.

However, 1 ZAR is = 0,00000650

I have no doubt as BTC starts to increase in price relative to fiat or rather as fiat falls as compared to the value the market sees in BTC the Satoshi will be worth closer to what was our single currency.

Ambitions of a one coiner

While I still have significant ambitions to become a one coiner while it's even attainable for a retail investor I think those who want to preserve their purchasing power should covert some of their fiats into Satoshis as an alternative savings account.

Instead of spending money buying 100 000 shit coins hoping for it to the moon why not buy 10 000, 100 000 or a million Satoshis and HODL that instead.

Bitcoin may seem like the coin now, but in the future, the Satoshi will be the actual coin we use. Bitcoin is a store of value, but the Satoshi is the means of exchange.

Have your say

What do you good people of HIVE think? Will 1 Satoshi be equal to many fiat currencies soon?

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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When you begin to take a deeper look of the possibilities you will imagine anything is possible.
If we check closely we will find more national currencies are close to 1 Sat than we think, apparently Argentine currency is in the mix.

Nothing shoulda be taken for granted in this space. Everything counts, every opportunity should be grabbed before the masses wake up.

Oh absolutely, the peso has been obliterated and they about to default on 100 year bond, the bolivar in Venezuela, the Zim dollar, the Dong in Vietnam, so many examples of what happens when you’re at the bottom of the fiat dog pile

I see zim have banned dollar based cash apps in the country, our zim brothers and sisters need crypto more than ever! Would love to get more Zimbabweans on HIVE!

Exactly my thought about Zimbabweans, it will be great to have them on Hive, it will help in some ways. I have not met a Zimbabwean on Hive besides @mpaul whom I helped in on boarding.
I was even asking a Zim friend two days ago if he doesn't know guys in Zim that know about Bitcoin, I will like to connect with them.

I personally would prefer Litecoin rather than Bitcoin. My experience with Bitcoin is slow transaction with high fee. As you mentioned about the future faster transaction and cheaper fee but everyone may have their preferred crypto. Bitcoin was known as the Gold while Litecoin being the silver.

!tip

That’s the beautify of it and how it should be everyone should be free to do what they want! I own litecoin for the reason that you mentioned that other people see it as a partner to BTC like silver is to gold and I’ll happily dump it on then when the time is right

As for the fundamentals LTC doesn’t solve any scaling issues as it never had scale to be stress tested and it’s solution the same with BCH has a limit to its scaling!

It’s also not as decentralized as BTC or ETH and their hasn’t been deploys to their Github in ages they spoke about doing confidential transactions but then went quiet there’s really only 1 developer working on it

I think LTC will always be around but if I look at the support for the lightning network I am far more bullish

Each day, week, year currency inflates satoshis become more practical. I'll give you an example of my own currency the South African Rand, US$1 gets you ZAR 17 right now.

I mean, what makes this so special compared to other alt coins?

Apart from laws making it legal tender, widespread adoption and holding of it, numerating assets in it and the police force, government and military willing to accept it and then force it on others, not much

I think it is smart to keep a balanced portofolio, not buying 1000 shit coins as you said. Balance is everything

Exactly and also balancing time, people forget time is a major factor in investing and people want to squash returns into a smaller period of time by taking on too much risk! Time factor is very important in investing

Time and patience and drive I would add. Without these three, success won't visit

I totally agree, no road worthwhile is easy and if you don’t have the drive you won’t use the time wisely! In some cases your drive needs to border delusion

Uuu well said!

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