BTC India
Let’s imagine that all the people in the world have the same amount of BTC and all BTC have been mined. That would translate to less than 300 Satoshi per person. It would mean that a piece of bread would cost less than 1 Satoshi.
If 1 Satoshi is the lowest amount of BTC that can be hold/transferred, then the current implementation of BTC is not really compatible with the reality of everyone using BTC for everything (unless we have some solution on top of BTC like the lightning network, but that would still not solve the fact that the value of 1 Satoshi would be huge if everyone were to use BTC).
Is my math wrong? What is the solution, a hard fork?
Edit: I was wrong, 300 000 Satoshi is the right number, not 300
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It should be closer to 300 000 satoshi per person. There is 100,000,000 satoshi in 1 BTC, 21,000,000 BTC.
If to few decimals ever become a issue, more can be added in the future.
One Bitcoin = one hundred million Satoshi.
When the time comes 1 Satoshi can be divided by 100 million.
That unit has yet to be named.
I’m thinking it should be called a ‘Roger’, after Roger Ver the smallest mind in the Bitcoin sphere of space.
When we need a sub 1sat system, someone will probably push out a soft fork enabling more decimal place. It’s always divisible.
If Bitcoin 40X, then 1 sat = 1 cent (roughly). That’s OK.
But I don’t think it would stop there, and I could envisage a need to increase the divisibility of BTC at some point. This is notwithstanding the ability of LN to handle microsats and smaller.
I have seen discussion of this elsewhere; some people are talking about it already. IIRC it would require a hard fork, but I doubt this would be contentious, as the change would simply be from a 32 bit data item to a 64 bit one.
Such a change would provide for 9 * 10**18 digits (if my math is correct) and the base layer problem goes away.
I’d appreciate it someone more familiar with the code would check what I’m saying, and ensure it’s not nonsense! 🥴
If you look at the C++ code for bitcoin on github , amounts are stored in satoshis as Unit64_t types not as floating point or double. This would require a consensus to change the bitcoin kernel to make 1btc to be 1 Billion satoshis if you wish to split current Sat’s. So NO. The satoshi is the basic unit of account and you can’t store .5 in an integer type field.