{"id":385638,"date":"2019-06-11T00:01:30","date_gmt":"2019-06-11T00:01:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=385638"},"modified":"2019-06-11T05:11:06","modified_gmt":"2019-06-11T05:11:06","slug":"bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/","title":{"rendered":"Bitcoin Becomes \u201cMoney,\u201d One Satoshi Now More Valuable Than Some National Currencies"},"content":{"rendered":"

Bitcoin<\/a> has been dubbed a lot of things by many different people. It\u2019s digital gold<\/a>; a store of value; a cryptocurrency; it\u2019s rat poison<\/a>; it\u2019s freedom from inflation; it\u2019s borderless. But at its core, the one thing it aims to become the most, is money.<\/span><\/p>\n

Many argue that Bitcoin has many years to go before it can be considered \u201cmoney\u201d in the traditional sense, however, the first ever cryptocurrency has taken a major leap from being \u201cmagic internet money\u201d toward becoming \u201cjust money.\u201d<\/span><\/p>\n

One Satoshi Is Now Worth More Than These National Currencies<\/span><\/h2>\n

Satoshi Nakamoto<\/a>, Bitcoin\u2019s mysterious and pseudonymous creator, designed Bitcoin to be deflationary, giving it a core advantage over fiat currencies, and coded the cryptocurrency to be divisible by up to eight decimal spaces, or 0.00000001 BTC.<\/span><\/p>\n

The lowest possible denomination of Bitcoin is worth a mere $0.000080 \u2013 a far ways off from even being valued at a penny, the lowest physical coin offered in the United States as fiat currency.<\/span><\/p>\n

Related Reading | Bitcoin Sets New All-Time High In Addresses Holding at Least 0.1 BTC\u00a0<\/a><\/strong><\/em><\/p>\n

However, according to Bitcoin analyst Rhythmtrader, the lowest denomination of \u201cmagic internet money\u201d \u2013 the satoshi, named after the cryptocurrency’s creator \u2013 is now worth more than the Iranian Rial, Vietnamese Dong, and Indonesian Rupiah \u2013 all national fiat currencies of third-world countries.<\/span><\/p>\n

https:\/\/twitter.com\/rhythmtrader\/status\/51989249?s=12<\/p>\n

Just one satoshi or 0.00000001 BTC is worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, and 1.1 Indonesian Rupiah. For one satoshi to ever reach the equivalent value of one United States Dollar, each BTC would be valued at $100 million each.<\/span><\/p>\n

Bitcoin is Even More Valuable To Countries Where One Satoshi Compares to Fiat<\/span><\/h2>\n

It\u2019s interesting that third-world countries with struggling economies that have national fiat currencies valued on parity with one satoshi, are also the countries that would benefit the most and find the most value in using Bitcoin over their native currencies.<\/span><\/p>\n

It\u2019s in these countries where trust in fiat currency is low, inflation is high<\/a>, and each country\u2019s respective government regularly oversteps their boundaries when it comes to their citizen\u2019s money.<\/span><\/p>\n

Bitcoin and other cryptocurrencies were designed to be decentralized and void of any central controlling party. This puts the power and control over an individual\u2019s money back into the hands of the individual.<\/span><\/p>\n

Related Reading | Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance\u00a0<\/a><\/strong><\/em><\/p>\n

This is a huge shift in thinking, as paper, fiat currency has long dominated the globe, replacing gold as the main transfer of wealth and value. Such an evolution doesn\u2019t happen overnight, and until now, nothing else had the potential to replace fiat currency.<\/span><\/p>\n

If Bitcoin does indeed become the global currency and is used widely as the main form of \u201cmoney,\u201d fiat currencies that are currently the \u201cface\u201d of money will fall out of favor, and eventually become a distant memory as the entire world goes digital.<\/span><\/p>\n

Featured image from Shutterstock<\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin has been dubbed a lot of things by many different people. It\u2019s digital gold; a store of value; a cryptocurrency; it\u2019s rat poison; it\u2019s freedom from inflation; it\u2019s borderless. But at its core, the one thing it aims to become the most, is money. Many argue that Bitcoin has many years to go before it can be considered \u201cmoney\u201d in the traditional sense, however, the first ever cryptocurrency has taken a major leap from being \u201cmagic internet money\u201d toward becoming \u201cjust money.\u201d One Satoshi Is Now Worth More Than These National Currencies Satoshi Nakamoto, Bitcoin\u2019s mysterious and pseudonymous creator, designed Bitcoin to be deflationary, giving it a core advantage over fiat currencies, and coded the cryptocurrency to be divisible by up to eight decimal spaces, or 0.00000001 BTC. The lowest possible denomination of Bitcoin is worth a mere $0.000080 \u2013 a far ways off from even being valued at a penny, the lowest physical coin offered in the United States as fiat currency. Related Reading | Bitcoin Sets New All-Time High In Addresses Holding at Least 0.1 BTC\u00a0 However, according to Bitcoin analyst Rhythmtrader, the lowest denomination of \u201cmagic internet money\u201d \u2013 the satoshi, named after the cryptocurrency’s creator \u2013 is now worth more than the Iranian Rial, Vietnamese Dong, and Indonesian Rupiah \u2013 all national fiat currencies of third-world countries. https:\/\/twitter.com\/rhythmtrader\/status\/51989249?s=12 Just one satoshi or 0.00000001 BTC is worth over 3.3 Iranian Rial, 1.8 Vietnamese Dong, and 1.1 Indonesian Rupiah. For one satoshi to ever reach the equivalent value of one United States Dollar, each BTC would be valued at $100 million each. Bitcoin is Even More Valuable To Countries Where One Satoshi Compares to Fiat It\u2019s interesting that third-world countries with struggling economies that have national fiat currencies valued on parity with one satoshi, are also the countries that would benefit the most and find the most value in using Bitcoin over their native currencies. It\u2019s in these countries where trust in fiat currency is low, inflation is high, and each country\u2019s respective government regularly oversteps their boundaries when it comes to their citizen\u2019s money. Bitcoin and other cryptocurrencies were designed to be decentralized and void of any central controlling party. This puts the power and control over an individual\u2019s money back into the hands of the individual. Related Reading | Crypto Assets Compared to Dot Com Domains Shows Unrivaled Growth Performance\u00a0 This is a huge shift in thinking, as paper, fiat currency has long dominated the globe, replacing gold as the main transfer of wealth and value. Such an evolution doesn\u2019t happen overnight, and until now, nothing else had the potential to replace fiat currency. If Bitcoin does indeed become the global currency and is used widely as the main form of \u201cmoney,\u201d fiat currencies that are currently the \u201cface\u201d of money will fall out of favor, and eventually become a distant memory as the entire world goes digital. Featured image from Shutterstock<\/p>\n","protected":false},"author":517,"featured_media":385655,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[43452,428,6664,7335,43450,4312,43451],"class_list":["post-385638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-and-indonesian-rupiah","tag-bitcoin","tag-crypto","tag-fiat","tag-iranian-rial","tag-us-dollar","tag-vietnamese-dong"],"acf":[],"yoast_head":"\nBitcoin Becomes \u201cMoney,\u201d One Satoshi Now More Valuable Than Some National Currencies<\/title>\n<meta name=\"description\" content=\"Bitcoin has been dubbed a lot of things by many different people. 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It\u2019s digital gold; a store of value; a cryptocurrency; it\u2019s rat poison; it\u2019s freedom\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-11T00:01:30+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-06-11T05:11:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-crypto-national-fiat-currency-shutterstock_719657698-e64.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3000\" \/>\n\t<meta property=\"og:image:height\" content=\"2000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony "El Toro" Severino\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/tonythebullBTC\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tony "El Toro" Severino\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/\"},\"author\":{\"name\":\"Tony \\\"El Toro\\\" Severino\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/5322c9a09a6f19804bb578de17556a1d\"},\"headline\":\"Bitcoin Becomes \u201cMoney,\u201d One Satoshi Now More Valuable Than Some National Currencies\",\"datePublished\":\"2019-06-11T00:01:30+00:00\",\"dateModified\":\"2019-06-11T05:11:06+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/\"},\"wordCount\":498,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-crypto-national-fiat-currency-shutterstock_719657698-e64.jpg?fit=3000%2C2000\",\"keywords\":[\"and Indonesian Rupiah\",\"bitcoin\",\"crypto\",\"fiat\",\"Iranian Rial\",\"US Dollar\",\"Vietnamese Dong\"],\"articleSection\":[\"Bitcoin\",\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/\",\"url\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/\",\"name\":\"Bitcoin Becomes \u201cMoney,\u201d One Satoshi Now More Valuable Than Some National Currencies\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/bitcoin-becomes-money-one-satoshi-now-more-valuable-than-some-national-currencies\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/06\/bitcoin-price-crypto-national-fiat-currency-shutterstock_719657698-e64.jpg?fit=3000%2C2000\",\"datePublished\":\"2019-06-11T00:01:30+00:00\",\"dateModified\":\"2019-06-11T05:11:06+00:00\",\"description\":\"Bitcoin has been dubbed a lot of things by many different people. 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