Argentinian Peso 1 Cent is Now Equal To 1 Satoshi & Who Is Next?

in fiat •  last month 

Hey Jessotoshis

Last week I spoke about the race to 1 Satoshi and I see recent news broke that 1 cent in Argentinian Pesos has hit 1 Satoshi Parity, what this effectively means is that 1 Peso should roughly get you 100 Sats, this is not the case all the time as currencies fluctuate but Bitcoins smallest value reaching the individual's national currencies smallest value is a bigger deal than you might think.

It's a great way to show the practical value of a Satoshi as it equals 1 cent in your country and makes it easier to understand, price goods and services and buy and sell goods using Bitcoin.

Granted buying and selling goods in BTC can be quite expensive but with the help of the lightning network it can make it easier for people to use and super cheap too, even cheaper than the bank transfers and is great for unbanked individuals.

If BTC was the way you transfer things on a daily basis a lightning wallet is a great way to store currency you want to use every day unlike us HODLR's who want to store as a long term savings mechanism using things like Ledger wallets or Paper wallets.

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The move to a million

There are now around 43 countries whose national currency is either equal to or less than 100 Satoshis, making 1 Satoshi a practical method of exchange when compared to their local currency.

To take it even further it means these 43 countries could effectively switch to using BTC today and have no problem trading at its current volitlity and some even have room for it to drop and it would still be worth using.

An easy to measure if BTC is practical in your country is if it takes 1 million of your national currency to buy 1 BTC. In South Africa where I am, we're still far off but I have seen prices of R280 000 per BTC during the bull run and I have no doubt BTC will be worth R1 000 000 in the very near future and South Africa will have cent parity with the Satoshi.

For more info, I suggest checking out fiatmarketcap

The move to Bitcoin

As you can tell BTC shows no signs of slowing down as it finds parity with new currencies each year which is why for those of us at the bottom of the fiat pile it means getting in earlier than those in developed nations.

If we are to ride the wave of currency collapse coming soon to a nation near you, I would say put aside a % in BTC. It could be $1 it could be $5 or $10, whatever you feel like you're willing to risk and not feel bad about it.

Alternatively, you can also look at ways of earning some and store that as a way to protect your sweat equity in something other than your national currency.

Have your say

What do you good people of HIVE think? Is Bitcoin close to a Million in your local currency? How far off is it?

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

Let's connect

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I have 0.00672379 BTC which apparently is worth £49.85 I'm rich beyond my wildest dreams! 🤣


"If you don't have enough power or Crypto to upvote me; reshare me instead. Reshares are worth their weight in gold!"

Don't forget, you can upvote peoples comments too!

You have enough time to ensure you're part of the BTC 1% of the future, its said to be 0.28 BTC by the time the next halving rolls around

Good advice! I must get myself some bitcoin, it is good to invest little by little.

I'd say so, get yourself a hot wallet for your phone like Jaxx Liberty or Atomic Wallet and start stacking BTC there for now, get used to using private keys and all that and once you have a nice amount you can get yourself a cold wallet like a ledger and store it there

I was watching a video and I got intimidated. Like you need a new email adress, a new password for every account, a cold wallet. It is just like... Overwhelming. And I am like.... Don't know where to begin 👀 I don't know even how to trade on market, how to transfer, convert etc.

Is there a crypto stuff channel for an absolute beginner like me, like...total beginner. To teach me how, when etc. I want to learn this, but there are so many sources out there.... And it feels embarassing here to ask knowing that everyone is such an expert and I am a crypto noob lol🙈🙈🙈🙈

To be honest, I learned by doing, I have yet to find like a nice resource for starting out in cryptocurrency. You make a really good point there, I think I should actually build a guide myself and create an eBook or something. I don't think its embarrassing many of the questions people ask often open up our eyes to thinks we didn't think about.

I'd say start with a hot wallet, first, that should be your first assignment. This is a wallet that you own the keys to and can interface with the blockchain like Bitcoin.Go through the process of setting one up, save all your keys and play around with it, don't send any crypto to it, get used to how the one you chose works first. I like using Jaxx and Atomic Wallet, but I also use edge wallet. It's always better for safety to have more than one wallet

I would be the first to read your ebook. Step by steps, basic operation, it would be so so awesome! Please do it, I think you would be great at it!

Like setting up a wallet, making transfers hive to dolars, bitcoin to dolars, trading on market. Gosh now you gotta do it for meee hahahha. I would be so grateful

We're still a way off parity in the UK but if these predictions about BTC going to $300,000-400,000 are to be believed and become true, we will be a lot closer than people would have imagined!

If this happens then that will put the majority of Earth's economies in parity with sats! It's a crazy concept actually!

Yes you still have far more time then us but I think what happens is it speeds up pretty quickly, what I see is for every country that reaches 1 cent parity with the Satoshi pushes more of that countries capital into BTC as they try to protect their purchasing power, so when each country hits that capital flows in and pushes it higher and it reaches the next country and so it goes on until it reaches the USD, EUR and GBP

That's why I'm so keen to follow this trend to see how wallets and price spikes up as we hit these milestones

Yeah it's that "cascade" effect isn't it? Just wonder how long it will take really, 5 years? Maybe 10? I'm sure you'll keep us posted as the developments unfold!

The journey is so far for my country. Just happy i am a little knowledgeable about crypto

I don't think its that far off, its what a 3x gain? BTC only needs to be 27k for it to be a million naira. Doesn't seem like that crazy of a valuation

Btc at 27k means an all time high for btc. Although naira is currently depreciating everyday... the economy is sinking in Nigeria.

It is scary and alarming to have national currencies depreciate that low. I really wish citizens of these nations are on Hive so we can interact and with them and get to know if they can live off Hive.

Crazy stuff happening with the global economy!

Posted Using LeoFinance

I think they will find there way eventually, the door between BTC and alt coins is rather vast, many will discover BTC and then some filter through to alts. I think the more debasement happens faster we see users looking for alternatives.

Lol if you think this is crazy, hold on to your HIVE brother, its going to be a wild and bumpy ass ride the next few years

You have no idea how much I appreciate my Hive!

I'd love to see how you react in bull times, I was here for STEEM at $8 an it was insane lol! How would you candle a 40x uplift in price?

  ·  last month (edited)

Check this out👇
image.png

https://peakd.com/hive-119845/@joetunex/me-as-hive-climbs-towards-usd1-or-could-we-see-hive-hitting-usd1

That was my reaction as Hive mooned towards $1, I was super happy and excited, seeing my account worth R60 000, though I will never go on spending spree for that.

On a serious note though my immediate plan is hitting 10k HP, even if it hits $8 now it will be a Hive success coming too soon. One thing we might not realize is when this place start getting 5 or 10 times busier in terms of users than now Hive is going to be much more harder to accumulate.
We better keep stacking up.

LOL then at 8 you're probably doing aubamayang backflips, I'm the same I wouldn't sell very easy

I will be better than Aubamayang at $8 😀

Interesting.
I took a similar view on BTC vs. fiat currencies, but focused on the market cap:
https://peakd.com/btc/@zuerich/currencies-ranked-by-market-cap-m2-money-supply

So you telling me if BTC hits the market cap of the South Korean Won that we sit at a valuation of $125 000 a coin, hmm, now that just made me crazy bullish

That would be my best guess 🤠

Lol that would make me a multimillionaire in my local currency, so don't see me complaining