The value of 1 satoshi is greater than 3 fiat currencies
Bitcoin

The value of 1 satoshi is greater than 3 fiat currencies

By Alfredo de Candia - 17 May 2019

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The smallest bitcoin unit, the satoshi, or 0.00000001 BTC, is currently insignificant for many but could be worth a lot in the long run as the price per unit increases. Currently, its value is greater than some fiat currencies: the Rial of Iran, the Dong of Vietnam and the Rupiah of Indonesia.

In Iran, 1 satoshi has the value of 3.06 Rials; in Vietnam, 1 satoshi at the current exchange rate is worth 1.70 Dong; while in Indonesia, it is worth 1.05 Rupees.

The smallest part of bitcoin (BTC) in these countries represents a good investment and could represent a good alternative solution to the fiat currency since it has a higher value than the local currency, a symptom that the centralised currency is not stable, while bitcoin is decentralised and offers, as in this case, a real source of livelihood in the long run.

Latin America & Bitcoin

The same applies to the countries of Latin America. These days trading volume records are being registered on Localbitcoins in Argentina and Venezuela, probably also due to the fact that the Argentine Peso (ARS) has been suffering for several months from a strong devaluation and an inflation rate that now exceeds 50%.

It is therefore probably not by chance that Localbitcoins is recording the highest trading volumes ever recorded in Argentine Pesos.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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