Post
Topic
Board Speculation
Re: rpietila Wall Observer - the Quality TA Thread ;)
by
Biodom
on 08/10/2014, 02:22:21 UTC
Bitcoin is about to undergo a 1:1000000 "stock" split.
essentially, they want a base unit and a second unit being 1:100 of the first.
https://bitcoinfoundation.org/press-releases/press-release-october-7-2014-bitcoin-foundation-financial-standards-working-group-leads-the-way-for-mainstream-bitcoin-adoption-2/
We already have two units: bitcoin and satoshi
Therefore, the only way to make this possible would be to recalculate bitcoin as 100 satoshi (deep inside everything is measured in satoshis anyway).
So, everyone with a current BTC will suddenly discover that he or she will have 1000000 bitcoins (officially called XBT from then on).
I think that this will put new bitcoin/XBT on a path that will eventually lead to XBT=~$1 with each satoshi=~1c.
How long it might take-maybe 20 years. If this happens, current BTC would equal $1,000,000