Re: Could the need of Bitcoin being more divisible lead to a hard fork?
Imagine the following scenario (that could possibly occur in decades):
Bitcoin becomes widely adopted, its marketcap surpass the dollar's, and it become so valuable that even a single satoshi is worth more than, for example, a couple of pens, a bottle of water, etc.
In that case, payments for small amounts wouldn't be possible even with second layer solutions such as LN, because even a single satoshi would be more valuable than the price of the product. There would be a need for Bitcoin to be more divisible, for it to be broken down into even smaller parts.
Would such need to use smaller denomination units (smaller than satoshi) require a hard fork? Can someone shed some light into it?
Bitcoin becomes widely adopted, its marketcap surpass the dollar's, and it become so valuable that even a single satoshi is worth more than, for example, a couple of pens, a bottle of water, etc.
In that case, payments for small amounts wouldn't be possible even with second layer solutions such as LN, because even a single satoshi would be more valuable than the price of the product. There would be a need for Bitcoin to be more divisible, for it to be broken down into even smaller parts.
Would such need to use smaller denomination units (smaller than satoshi) require a hard fork? Can someone shed some light into it?
Bitcoin is already divisible to 8 units, and that's more than enough for the world's population. 1 satoshi would cost around $1 when BTC hits the millions, anyways. That's still cheap when you compare it to a wire transfer or even credit/debit card fees. We don't need to worry about this, especially when it's going to take decades before BTC goes well above $1m per coin.
If there's ever a need to make BTC more divisible, it will come to a consensus among developers, miners, and node operators alike. A hard fork would likely happen by that time, but it won't be as controversial as the big blocks debate by Bitcoin Cash proponents. Everything will go smoothly without issues (at least that's what I hope for). Who knows what would be of Bitcoin in the future? Just my thoughts
