0 sats \ 2 replies \ @jp 19 May 2022 \ parent \ on: Daily discussion thread
It would be interesting to see Bitcoin adoption in countries where 1 sat is equivalent to that countries "dollar" denomination (and whether or not this causes transaction issues in daily life).
I am not quite sure this economy exists (perhaps Venezuela might qualify).
Interesting question posed by @monrch
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442 sats \ 1 reply \ @k00b 19 May 2022
We might be thinking about this wrong. 1 sat = 1 dollar could mean sats become more valuable or the dollar becomes less valuable. If 1 sat increases in value, then sats lose some of their magic. If dollars lose value, nothing changes.
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10 sats \ 0 replies \ @jp 19 May 2022
Good insight - I suppose, it's more about what $1 can purchase when 1 sat = 1 dollar.
If the dollar inflates to the point in which anything less than a dollar (by today's standards - pennies, nickels, etc) has zero utility then the dollar becomes the base denomination and a 1:1 ratio would have no material impact on transaction capabilities
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