Bitcoin price must hit $1 million for 1 satoshi to reach parity with 1 cent
At 0.02 cents, the humble satoshi still has a long way to go to hit parity with the cent, let alone an entire dollar. Bitcoin (BTC) may be circling all-time highs, but a new storm is brewing around its smallest subunit, the satoshi or “sat.”As more first-time investors pile in to BTC, attention is once again highlighting the fact that many still think Bitcoin cannot be divided and is “too expensive.”Buy Bitcoin? Too expensiveA frequent point of debate throughout Bitcoin’s recent history, the problem of how to solve this misconception and introduce sats to a wider audience is now back in....
Related News
Eight days ago, the euro tapped a record low against the U.S. dollar as it hit $1.028 per unit against the USD last Tuesday. This week, the official currency for 19 of the European Union’s member states reached parity against the U.S. dollar for the first time in 20 years. Euro Hits Parity Against the US Dollar, Greenback Skyrockets Against a Basket of Fiat Currencies Even though it was a goal for the European Union (EU) to introduce a sovereign fiat currency for the EU back in the sixties, the euro did not get introduced until January 1, 1999. At first, the euro was introduced....
UK punters are using more electronic money, but cash is still king on the High Street. In 2012 use of cash for shopping fell 10 per cent - and the rate of decline is accelerating. The big winners are debit cards and newer methods such as PayPal, for online purchases. The numbers come from the British Retail Consortium and show that just over half of all transactions are still carried out in cash - 54.4 per cent. But this is down 6.7 per cent in terms of numbers of transactions and a fall of 9.7 per cent in terms of value - the first time both figures went down in 13 years of collecting....
A supply cap of 21 million bitcoins would be a problem, if the currency was only divisible up to two points behind the decimal. But that is not the case, as the “cent” value of 1 Bitcoin is called a Satoshi, which is 0.00000001 Bitcoin. As you can see, Bitcoin is divisible up to 8 points behind the decimal, and if we were to compare 1 Satoshi to 1 cent in fiat currency, a full Bitcoin would be equal to 10 million. Multiple that number by 21 million coins, and there is plenty of funds to go around for everyone in the world. Another point the article by The Telegraph focuses on is how....
50 Cent announced today that he will sell his new album Animal Ambition for bitcoin through BitPay. As 50 Cent will not be the only artist interested in providing bitcoin as a payment option, BitPay makes it easy for artists to accept bitcoin. 50 Cent is using a Shopify store to sell his latest album and can, through BitPay's partnership with Shopify, accept payment in bitcoin. There could not be a better combination of innovation in music and payment. We look forward to seeing which other musicians follow suite. With 50 Cent as the first large independent artist to accept bitcoin as a....
When the Dogecoin project started, nobody expected a brilliant future for it. The popularity of Dogecoin surprised even its founder, Billey Markus. On December 8, 2013 Markus presented the crypto-community a new cryptocurrency named in honor of a dog of shiba-inu breed, an Internet meme under the name Doge. Trades at the exchanges of this coin began on December 16, 2013 with a price 73 Satoshi. However, Dogecoin prices have fallen to 32 Satoshi not for a long time and soon began rising up. On February 10, 2014 its price reached 240 Satoshi. Two months from the launch the market....