To some Bitcoin is digital gold, to others a store of value. Some see Bitcoin as a new financial paradigm and that the cryptocurrency will replace cash. Some feel its use is in protecting from inflation, others as a low-cost method of international transfers. Some believe that Bitcoins value will fall to zero and that it is at its heart a Ponzi scheme.
Bitcoin does have some way to go until it can be confidently considered any of these. However, with the recent price increase, something interesting has happened. It has started (in its smallest denomination) to become as valuable as some real-world fiat currencies.
Satoshi Nakamoto, Bitcoin’s creator, coded the cryptocurrency to be divisible by up to eight decimal spaces, or 0.00000001 BTC.
Whilst the smallest possible denomination of Bitcoin is worth only a mere $0.000080 – a long way off from even being valued at a penny, the smallest physical coin offered in the United States as fiat currency. The lowest denomination of Bitcoin, the Satoshi, named after the cryptocurrency’s creator – is now worth more than the Iranian Rial, Vietnamese Dong, and the Indonesian Rupiah – all of which are national fiat currencies of third-world countries.
One satoshi or 0.00000001 BTC is now worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, or 1.1 Indonesian Rupiah. If one Satoshi was to ever reach the equivalent value of one United States Dollar, each BTC would be valued at $100 million US dollars..........
For the rest of this article visit :
https://ieomagazine.com/a-satoshi-is-now-worth-more-than-several-national-fiat-currencies/
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Wow. #tothemoon !
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