HOMEQUESTION
If Bitcoin's total number total is 21 million in total, then how would we use it in the real world?
I am thinking, if the total number of bitcoin is 21 million and it would be fully mined in 2140, then at this moment of time, the total number may be around 15 million or somewhere around there, if we pay for things in small satoshis, how does that work? Cause some denominations are really small.
\$0.28

What you have to think about first is what will be the value of Bitcoin in the future. Each bitcoin is divided up into 100 Million pieces and 1 piece is a Satoshi equaling 0.001 of a bitcoin.

Let us say Bitcoin is worth a Million dollars in the future at some point then each satoshi is  valued at 1 c. The more the demand the more the value will rise. Once they are all mined then the price should soar because of the scarcity factor. The investors holding it will not let it go so in theory we should be holding and not selling.

This in hand will push other prices of coins up in value so it is  a chain reaction. Whatever coins survive they will hold value and it should be a substantial amount. The prices we see today are nothing compared to what is coming.

\$0.78
1 Comment

If you take a currency like FIAT. If you have 1 dollar you have 100 cents.

Bitcoin works pretty much the same way, With bitcoin though there is much more decimal places. in 1 bitcoin you have 1 million satoshi. 1 satoshi being the smallest amount. As the coins get mined and eventually the coin is completely mined. each satoshi can gain a value to reach 1 satoshi being worth 1 dollar or more,

The only thing that can be seen as negative about the bitcoin in my view, Is the ability to use it in everyday life with ease. The adoption of the coin for everyday use will need to be established for the coin long term, This will not happen while markets are so volatile. The risk to small business is too great.

There might come a time where different Crypto are integrated together, And 1 Satoshi could be worth 10 or 25 dollar and an alternative currency used as Bitcoin cents or pennies.

\$0.75

Each bitcoin is divided in to a million satoshi so one satoshi is  0.00000001 of a bitcoin. Now once they are all mined then the value should in theory go up considerably and at that point each satoshi will be worth more. At this exact moment it takes 2,692 sat to equal a penny. In the future 1 satoshi may be worth a dollar once Bitcoin becomes more widely accepted and scarce.

\$0.25

We wouldn't, the same you're not using Gold to exchange for goods.

You sure could. You just wouldn't, in normal circumstances.

\$0.01