We have a situation on our hands that needs to be sorted out...and quickly.
At this moment, 1 Bitcoin is worth (roughly) $29,000 USD, which means that, right now, 1 sat equals .0003¢
In other words, absolutely nothing.
But as I have said several times in the past, in many posts, pricing things in sats, and not in Dollars, is the only way to move away from that system.
There have been debates dealing with this very issue. Should 1 sat equal 1 penny, or 1 dollar.
In my humble opinion, I believe it should be worth 1 penny.
This would put the entire 21 million Bitcoin at 21 Trillion dollars. If the other applied, it would be 2.1 Quadrillion dollars...a ridiculous amount, which is 5 times the entire worlds wealth.
Just think about that for a moment...last year alone, the entire worlds wealth was just under $440 trillion. And we want to value 1 sat as a dollar?
Having the entire supply of Bitcoin at 21 trillion is asking a lot as well, but not as preposterous as 2.1 Quadrillion.
Now moving past this, we can begin to move away from fiat/CBDCs, and have items with price tags that look like what we see things priced in Bitcoin today.
Every website that does any kind of transaction needs to transition out of fiat, and in Bitcoin/Altcoins.
Which also means that producers need to only price their products in crypto.
I have been looking for websites that do this, and I have found a few.
In another article, I will post the sites that are already doing it.
I may be wrong about the 2.1 Quadrillion, but in my opinion, making 1sat equal to 1¢, makes more sense.
Let me know your thoughts in the comments below...👇🏻