Re: When Bitcoin hits $1 million each sat will be worth 1 cent
Yes and no. The higher one Bitcoin will be valued, the harder it becomes for the regular people to think in terms of 'Bitcoin'. I do see a shift in the future. If people used to think in terms of mBTC and such for smaller transactions such as maybe grocery shopping, it would be silly to think in Bitcoin if and when Bitcoin hits 1 MILLION dollars. 100 Satoshis for a dollar pack of gum seems easier than 0.000001 Bitcoin (say it out loud to think how silly it sounds, zero point zero zero zero zero zero one Bitcoin).
I don't see that shift in the future. Leaving aside scalability issues, I doubt people are going to buy packs of chewing gum with bitcoin when they have numerous alternatives for spending in fiat, and even if cryptocurrency payments become more common, I think stablecoins will be used for this type of transaction.
Spending bitcoin while not spending fiat doesn't seem very intelligent.
Yep. BTC may be used for bigger purchases, maybe - but probably not for Pizza / gum, for that, I am certain too.
