1 Satoshi
You can send it for free, within a few seconds, with a message attached.
It is easy as pie
Now, sending one Satoshi BTC {Bitcoin} might seem a bit questionable, to state the least. It does not mean you have to do it, just because it is possible. Yet, it can be done. Or you could send BTC for the price of one cup of coffee. Maybe it would cost you USA $ 2.50, which would be about 5000 Satoshi BTC, more or less. Paying this using the Bitcoin main blockchain seems pretty useless to me. And the more valuable BTC becomes the more useless it becomes to do so. Just like you would not walk into a restaurant holding a 1 kilogram gold bar and scrape some off to pay your coffee with. Some valuable gold will be lost as dust particles. And you'll need a guard to join you, making sure you get not robbed. The guard needs to be payed too. So you scrape of a days salary in gold? To buy one cup of coffee, because you want to prove something, maybe.
Just like scraping off the right amount of gold and weighting it is somewhat time consuming. And so is sending BTC on the main Bitcoin blockchain. If gold needs to be transported because billions worth of USA $ has to be moved then that is going to cost something. Relative to the value of the stash of gold being moved, 2 million in cost might not be an issue. You would not want to pay 10 dollar to move 50 USA Dollar in value using the Bitcoin blockchain. Even though it is possible to send coffee money using BTC to pay. You'll need a wallet that lets you set the transaction fee manually, I already did that. To prove a point, not to show that I have a brain, because that would have people doubt, I guess. Yes, I am convinced that moving small amounts of BTC on the main Bitcoin blockchain is, eurm, questionable to state the least. Even when it might be possible to use ZERO transaction fees the BTC might get lost as dust in the eternal digital nothingness. Again, a point may be proven, but at what cost?
Yeah, but People's money!
That is where there seems to be an almost religious kind of dogma concerning Bitcoin {BTC}. It is like a group of people who are walking around with bars of gold demanding to be used for payments. Some will have one or two guards with them, at 250 USA Dollar per person per day. Pissing of people in restaurants and stores, because they insist to pay in gold. It takes for ever, because the sellers also have to check if it aint yellow copper. Huge lines everywhere, all because some people keep stating that gold is the real money! Some have the idea to chop these gold bars up in smaller parts, which makes settling a bill with it more easy and faster. Or maybe have a more simple system that is being backed by real gold, perhaps? "WOW!, THAT IS FREAKING BRILLIANT THAT IS!", cheers all around, except for the ones who want to stick to the religious People's Money dogma that they started to believe in. Wrongly so, I think, because they seem to miss a point. First of all the Bitcoin code evolves, it is Open Sourced, that in and by itself is already proof that it is for everybody to use as they see fit! Already there it is 'the People's money'.
But hey, those who claim BTC is not the real Bitcoin, which to me is already weird, will not take that for an answer. They actually believe that paying with Bitcoin directly, on the main blockchain, is what would define it as people their money. Do the math, it is highly improbable that it is even possible to do so. Without the extremely high risk of getting centrally controlled, that is! That is why I do not trust individuals like mister C. Wright. He worked for secret services for Pete's sake! And he is also clearly stating he wants to move towards centralization. He wants to cooperate with banks and government. And hey, he may do so, because the Bitcoin software is Open Sourced. He can even claim he is Satoshi Nakamoto, for all I care. His plans do proof otherwise to me though, same goes for other Bitcoin blockchain forks. And mind you, what I do respect Mr. C. Wright for is that he states openly what he wants to do. That is why I am not supporting his vision, ever, because he is destroying the People's Money part. Because he wants to hand over control to Banks and Governments.
The bigger the blocks, the lesser decentralization
What makes Bitcoin {BTC} the one and only is that it is the People's Money. Even though the main blockchain can 'only' do a small amount of transaction per second? Yes, absolutely, because it is the small blocksize that counts. The bigger the blocksize, the more centralized the network will become. Currently many people all over the world can still set up a Bitcoin node. Being their own 'Bank' and supporting the decentralization of the network. Meaning many more copies of the BTC blockchain, making it stronger and faster overall. Shorter distances between nodes relaying the transactions and storing 1 MB sized blocks. (Which could go up to one 1 MB per minute in the future, but at a slow change.) That is actually what makes it the People's Money. This is why Banks and Governments probably would support Mr. C. Wright his vision. Because his take on things would create huge Gigabyte sized blocks. And he already explained who would be able to move these huge blocks around and store them, like Banks. Again, he's right there I think. Gigabyte sized blocks can probably only be moved by Banks and / or Governments. And that means the end of the People's Money ideology. His vision (and big block promoters) is about taking control, by a centralized power, he's part of that.
So, if you support that idea, it is okay with me. If you belief Bitcoin being the People's Money is about bigger blocks that have everything done on the main blockchain, then hey why not call it cash? But again, there is a danger that huge blocks will get into play and that means it will be out off the hands of the many. Less nodes run by The People, more run centralized, because of the huge blocks and enormous amounts of transactions. Those who still want to claim it to be The People's Money, after Big Companies, Banks and Governments got in control, I consider to act ignorant. The secret of something being The People's Money is that it is in the hands of the many. And that it is easy to join in, running a node. While mining is next level, but even that could become more mass adoption friendly in the near future. But the current way Bitcoin {BTC} functions makes it perfectly possible to have a node running at home. Using a Raspberry Pi, or something alike. When using Solar Cells it is not even going to cost anything running it 24/7. Therefore I consider People's Money something the many can adapt and be an active part of as a whole, in a very decentralized manor.
Yeah, but when I want to buy Coffee with it?
This is a thing right, the dogma of the 'Enormous Blocks' religion, they need that cup of coffee payed for with Cryptos. Apparently, according to those who want bigger blocks to do a little bit more transactions per second, one cannot pay for coffee with BTC {Bitcoin}. And that is where they are wrong (again, from my point of view that is). My boldest statement so far is that I can actually send thousands of them 1 Satoshi BTC within a few seconds. And you now what, without any transaction cost at all. (Of course I have an internet connection and computer hardware in need of energy, so it aint completely free of costs.) It is simple. Even sending somebody payment in 5000 Sats BTC for a real cup of coffee. Within a few seconds the one selling me the coffee will receive the 0.00005000 BTC. Both without any extra costs, and not using the Lightning Network, or any other second layer solution. And you know how that is possible? Because of the HIVE blockchain and the attached Hive-Engine sidechain. Some Swap coin support makes it happen. Currently that makes it centralized for a part, but the Komodo Atomic Dex proofs that things could get decentralized there too. (Became a huge fan of DogeDex and AtomicDex, the dApps are an example for any developer, that is how it is supposed to be, I think.)
"Yeah, but that is still not enough for a coffee selling entrepreneur to be used.", yeah sure, I get what you're trying to state there. But, as an entrepreneur you can probably not claim you have a great business running when all you can state is that you've sold one cup of coffee for 5000 Satoshi BTC ever, right? Then next thing is about stashing Satoshi BTC and at some point moving them to the main Bitcoin blockchain. At least that way it seems logical to me. Even when it'll cost you about 10 USA Dollar to move 10'000 USA Dollar worth of BTC, that makes it one pro mille. If I made that in a day, selling cups of coffee, I'd be more than willing to go for it. Heck, I'd even deliver it for free within a two kilometer range, within ten minutes. And for new clients I'd add the world famous Nederish treat to it: the Syrup Waffle. GRATIS!!! (Yes, I know the GRATIS part probably only triggers the Nederish and Scottish people. And before you slaughter me over that remark: I am actually Nederish of origin.) And I guess you catch my drift by now, right? One main extremely secure main Bitcoin blockchain, moving large values about. Stored on many BTC network nodes all over the world, making it The People's Money. While second and third layer solutions make it like Cash. Like Hive-Engine does it, or any other fast Satoshi BTC transaction layer out there.
Wen BTC 100 million USA Dollar?
Impossible? Well, I tend to disagree. And I know it would make 1 Satoshi worth the amount of 1 USA Dollar (that one is going to be worthless in the end). But in come the second (and maybe third layer) solutions. Why not have one deci Sat or one cent Satoshi BTC? Sure, not on the main Bitcoin Blockchain and why would you want 1 cent sat-BTC on there anyway? Just because you can? To that network it will still look like a ZERO Satoshi transaction. Again, you stash them Sat Cents up high. Still might end up taking some stashing time to be able to move your earnings to the main BTC Blockchain, because at the BTC price of a 100 million the transactions will cost you quite a bit... Yet it might be that there are other solutions, going from third layer that supports deci and cent Satoshi payments to a second layer. Maybe only huge BTC movers will store capital on the main blockchain. And is it used to extra secure some other blockchain, or a hash of some important data? And if the many have nodes supporting the Bitcoin BTC network, to me that makes it The People's Money. Bitcoin {BTC} backed Cryptocurrencies, the one king to rule them all.
Open Source soft- and hardware development is not static. It is absolutely amazing dynamic, to me Atomic Swaps proof that, just like the Mimble Wimble protocol. Which might be added to Bitcoin, just like it got added to Litecoin. And I guess big companies now stating they are not going to be in on it, after all, like banks might advice against it and governments could put another anti-cryptocurrency law out, that might be a blessing in disguise. The actual usage by the many will define if Cryptocurrencies are indeed The People's Money. And of course those who are billionaire 'rich' in banking governance money do want to keep it like that. That is where Mr. C. Wright and others stated that their backs are covered. Giving the system control by forcing huge blocks onto the blockchain. And those supporting that vision are against the people being their own bank. They are the anti People's Money movement. At least that is how I came to a conclusion by reasoning logically. Yet I know there is also something known as 'feelings' and those can get in the way of clear thoughts. All that is huminini is known to me.
Thank you Elon!
Is there a reason to feel sorry about Mr. E. Musk almost making an apparent 180 degree turn on Bitcoin {BTC}? No, I do not think so. In a way the Cryptocurrency supporters might even want to thank him and his Tesla company. One for still HODLn the BTC they bought (you wont find that in the headlines of the biased mainstream media though). And secondly by putting a spotlight on Cryptocurrency mining and to debunk the claim it is draining the energy swamp of the whole planet. With 0.6 percent that is hardly the case, now is it? And Bitcoin mining already uses a lot of green / renewable energy. Even more that the power grid of the United States of America can offer, as that is stuck at 20% green / renewable energy. So, in a way one could state that driving a Tesla is less enviromental friendly than mining Bitcoin. (Do not even get me started about Lithium and Cobal mining...) As new BTC gets issued using between 39 and 73 percent green / renewable energy. Makes Bitcoin quite GREEN People's Money, right? So I guess the environmental aware people should go for Bitcoin and other Cryptocurrencies!
And in the meantime things are not half bad. Sure the market turned into a bloody mess, but we have been there before. To me it is a time to buy some other Coins, spread my portfolio. And thanks to Atomic Swaps on Komodo's Atomic Dex I got myself a lot of Bitcoin-Z {BTCz}. And I did send 1 Satoshi BTC to another Hive member, with a message attached, within a couple of seconds and without any transaction costs. Maybe I'm gonna have some more fun with that soon. Keep those Satoshi BTC stacking, as all those little ones might add up to a lot, even worth moving it to the main Bitcoin blockchain. And remember, no matter what, only invest what you are willing and can effort to lose!
May the Cryptos be with us!
One king to rule them all!
Image by Deko Art CC0 licensed
