Post
Topic
Board Speculation
Merits 1 from 1 user
Re: Could 1 Satoshi (SAT) be worth $1 one day?
by
ETFbitcoin
on 28/12/2020, 09:31:49 UTC
⭐ Merited by bitmover (1)
Could 1 Satoshi (SAT) be worth $1 one day?


It's possible, which means it happened either because,
1. Bitcoin is widely adopted
2. US dollar suffer from big inflation
3. Global financial crisis happened
3. Combination of above possibility

If that happens  and usd is still worth anything,  on chain transactions are going to be very expensive (1 dolar per byte, minimum fee)
Lightning and off chain transactions are going to be really needed, and on chain transactions are going to probably be used just by banks and whales.

Bitcoin fee minimum fee is 0, it's just default acceptable transaction fee is 1000 sat/kB. We could reduce it to 1 sat/kB (or even lower) and allow smaller fraction (e.g. mili satoshi) on Bitcoin network.