If we reached the top?yeah no doubt that this is applicable but not in this moment because bitcoin price is just below 10$k and having 0.28BTC only amounts $2,500 more or less .
I think when bitcoin prove its value in future and hit at least 6 digits?then that is much appreciated and we can value that Bitcoin greater.but this is a good statement for the community because this is a small amount that we can easily achieved if we really want to.
Topic: 0.28 bitcoin to be in the 1% of richest bitcoin holder (Read 532 times)
Then I only need a few more Bits to be part of the richest Bitcoin holder.
I am a bit curious on how many people are already part of it?
It seem's like a small amount so I wonder how many people have that amount on their wallet.
I am a bit curious on how many people are already part of it?
It seem's like a small amount so I wonder how many people have that amount on their wallet.
You might wanna have a look on the Bitcoin rich list - bitinfocharts offers great insight into it.
Looks like the Huobi cold wallet holds 1.40% of the total supply - quite crazy if you think about it. If they would be scammers they could just access the wallets and sell them at market price thus dumping the price like a rock from a mountain top.
You can also see there a nice Bitcoin distribution table so you know how much more Bitcoin you need to advance to the next rank.
Then I only need a few more Bits to be part of the richest Bitcoin holder.
I am a bit curious on how many people are already part of it?
It seem's like a small amount so I wonder how many people have that amount on their wallet.
I am a bit curious on how many people are already part of it?
It seem's like a small amount so I wonder how many people have that amount on their wallet.
To be honest, I don't understand how this number is calculated. I had a quarter of BTC, so I was pretty close to this one, but why is it 1% richest holder? There are 18 million BTC in circulation, so it's really hard to believe that such a small number could make a person a part of 1% richest holders. And from the data I've encountered on the richest BTC addresses, they have quite a lot of BTC. If there're 42 million wallets, then the one owning at least 0.28 BTC should be in 420k of the richest ones, right? If what AsusPower wrote about 720k addresses with 1 BTC or more is right, I don't see how the math can work out here.
I don't know if they're basing it on this rather rudimentary equation or not, but it seems to be an odd coincidence if not:
21 million BTC / Global population of ~7.5 billion = .0028 BTC
1 is two decimal places away from 100, so move the decimal place by two... ?
I wouldn't personally feel comfortable describing it as "statistically guaranteed" if that's how they're working it out, heh.
Yep, good catch there... I think they did use that calculation and I think it is flawed. A very high percentage of the global population is unemployed or too sick to work or they are simply too young to care about money or bitcoins.
In any way, people distribute their coins over different addresses, so it will be difficult to know how many people actually have more than that amount of coins in total.
Does is matter how much bitcoins a person choose to invest? Why should we pressure people to hold at least X bitcoins, we are forgetting the most important rule of investing - invest only what you can afford to lose. Also, pressuring people into investing "buy now until it's too late, it's your last chance to become a millionaire" will only make Bitcoin look suspicious to outsiders, since its the kind of thing that scammers often say.
Don't take this seriously. Just think of this as a milestone for those people aiming for top 1%. Although it's a lot lower than the past years, it's still considerably difficult to achieve if you are living in a third world country so aiming for 1% and getting it is still a good feeling. It's not like he is hyping or something. It doesn't really mean anything.
From the discussion and comments from other users all I can say is the numbers are no guaranteed to be statistically accurate and are just a speculation.
I think there are more number of factors that would be taken into consideration in future when the top 1% will be calculated.
So let's just leave it to the future and not make any sort of predictions right now since it will just be a waste of time for nothing can be predicted accurately.
Predictions and speculations are not just a waste of time brother because of these speculations and predictions about the percentage of the said number will eventually gives us some clues on what would happen on the near future or what would be happen on the next minute about the value of the tokens. I think there are more number of factors that would be taken into consideration in future when the top 1% will be calculated.
So let's just leave it to the future and not make any sort of predictions right now since it will just be a waste of time for nothing can be predicted accurately.
It is not just leave it to the future because we are the one who are builting the roots for the future users so the predictions and speculations will never just a waste of time.
From the discussion and comments from other users all I can say is the numbers are no guaranteed to be statistically accurate and are just a speculation.
I think there are more number of factors that would be taken into consideration in future when the top 1% will be calculated.
So let's just leave it to the future and not make any sort of predictions right now since it will just be a waste of time for nothing can be predicted accurately.
I think there are more number of factors that would be taken into consideration in future when the top 1% will be calculated.
So let's just leave it to the future and not make any sort of predictions right now since it will just be a waste of time for nothing can be predicted accurately.
Theoretically : Yes
Practically: No
It works by taking out the average but at the same time we need to define a stable line that one might consider for evaluation of people being rich or not , because when we are considering the average there are people who are holding millions worth of bitcoins and there are ones holding only 0.28 BTC , both are very different and incomparable.
Practically: No
It works by taking out the average but at the same time we need to define a stable line that one might consider for evaluation of people being rich or not , because when we are considering the average there are people who are holding millions worth of bitcoins and there are ones holding only 0.28 BTC , both are very different and incomparable.
i think you may be overthinking it. most of those who are holding "millions of dollars worth of bitcoin" do not own those coins and they are holding them on some other people(s) demand. for example the exchanges, payment processors, gambling sites,... and those who actually own a lot of bitcoin are only a handful. so percentage wise you can still be in the top richest bitcoin holders.
This is an interesting statistic to me. 1BTC doesn't seem like a hell of a lot, but you hqve to figure that only 21m people could possibly own that amount, out of billions of people in the world. It's crazy to think that it would have been so much easier to achieve back in 2015 and earlier--it would have taken only a few hundred dollars at most.
Ah, how I wish I'd kept all the bitcoin I'd bought a few years ago. I wouldn't exactly be wealthy, but I'd be well above average in terms of crypto holdings.
Totally agree, back in the days earning 1 bitcoin is much easier than today maybe scam projects and hacking from the past affect so much the method of earning bitcoin today making it difficult. Even in trading or doing signature campaigns earning a big amount of bitcoin would be easier way back 2015-2018.Ah, how I wish I'd kept all the bitcoin I'd bought a few years ago. I wouldn't exactly be wealthy, but I'd be well above average in terms of crypto holdings.
Surely saving your bitcoins or holding your bitcoins is difficult for most of the people, Still we could see the adaptation of cryptocurrency compared to the past years even it becomes difficult for us to earn bitcoin these days.
earning that said amount thesedays is pretty difficult yes knowing that bitcoin prices are now expensive but if you already bought or hold some on the past when btc is still inexpensive , you are lucky because you are honored as one of the richest btc hodlers . for me , its not important to claimed a title like that but what important to me is that i am happy to use my bitcoin on a regular basis . infact i have over 2btc a total of transaction over the past two year course and most of those i got was from the 2017 era but now i dont still consider my self rich but its fine
At least, you will be one of the richest people who held bitcoin and if bitcoin price increase so high more than $100k, you will be the new richest in your town
But that idea can be real if many people have 0.28 bitcoin in their wallet. If the supply will be less than now, and many people are hard to earn every satoshi, then yes, having 0.28 bitcoin will make us become the richest bitcoin holder.
But that idea can be real if many people have 0.28 bitcoin in their wallet. If the supply will be less than now, and many people are hard to earn every satoshi, then yes, having 0.28 bitcoin will make us become the richest bitcoin holder.
Theoretically : Yes
Practically: No
It works by taking out the average but at the same time we need to define a stable line that one might consider for evaluation of people being rich or not , because when we are considering the average there are people who are holding millions worth of bitcoins and there are ones holding only 0.28 BTC , both are very different and incomparable.
Practically: No
It works by taking out the average but at the same time we need to define a stable line that one might consider for evaluation of people being rich or not , because when we are considering the average there are people who are holding millions worth of bitcoins and there are ones holding only 0.28 BTC , both are very different and incomparable.
Important to emphasize that this is only related to addresses and assuming that coins in them are owned by a single entity per address
This is in fact a false assumption.
Custodianship still holds strong with BTC. People deposit their coins to exchanges. We will never truly know how many holders actually do this. Moreover, this can work the opposite way also. Maybe some addresses he funds as part of a loaning scheme, whwre a larger org gives coins to individuals. This is more common in chains where smart contracts run but even with bircoin it can be done through some custodian measures and contractual legal agreements like GBTC does.
This is in fact a false assumption.
Custodianship still holds strong with BTC. People deposit their coins to exchanges. We will never truly know how many holders actually do this. Moreover, this can work the opposite way also. Maybe some addresses he funds as part of a loaning scheme, whwre a larger org gives coins to individuals. This is more common in chains where smart contracts run but even with bircoin it can be done through some custodian measures and contractual legal agreements like GBTC does.
earning this 0.28, in my opinion, will be difficult for most of the users.
Earning is probably the easier part. I think this BTC0.28 is achievable in one year or two for an average investor assuming bitcoin remains around $10K. The problem is that most of us are too impatient to sell or too weak to hodl. If bitcoin surges, those figure will quickly change. Owning BTC0.28 would probably land you to 0.5% of richest bitcoin holder.
With the current fiat value of Bitcoin, it is somewhat easier to earn BTC0.28 in a year or two. The problem will come when the Fiat value is above 20k. Then I am sure things will be very different.
Another quick solution is investing in Bitcoin until its price is below 10k. The amount you need to invest is $2695.92. If you can then HODL it for a couple of years this amount will surely double or triple.
If you really believe that it's possible then why not take a loan.. take a loan payable for one year so you can get that 0.28 bitcoin now at a very cheap price. actually there's a lot of ways to acquire that amount of BTC if we are really interested.
Take it from CZ who sold his house to buy bitcoin.
Such a small amount of BTC to be considered one ot the richest Bitcoin holder.
Everyone could do it if they would only save it and hold instead of converting it into Fiat but I guess not everyone could hold onto it since we have bills to pay and family to feed.
But I think we could still do it little by little.
Everyone could do it if they would only save it and hold instead of converting it into Fiat but I guess not everyone could hold onto it since we have bills to pay and family to feed.
But I think we could still do it little by little.
It's a good motivator to those that still doesn't even own a single bitcoin because they think it's a lot of money for them. Lessening it to 0.28BTC makes it easier for the working class especially to the first world countries.
But for the other nations, that would be a lot. Considering that we only have few more bitcoins left to mine and with a max supply of 21M, I guess that stats was pretty clever and encouraging.
But for the other nations, that would be a lot. Considering that we only have few more bitcoins left to mine and with a max supply of 21M, I guess that stats was pretty clever and encouraging.
Last year,I had 0.27 BTC in one wallet (but I sold them) so I was pretty close to the "golden ratio" I guess.
I have never accumulated 1 BTC for one year.The whole sum of my buying,selling and earning activities with bitcoin is about 1.5 BTC from 2015 up until now.Anyway,those "1% richest bitcoin holder" statistics don't mean anything.They are just for entertainment purposes.The daily/monthly/yearly BTC trading volume is a way more important metric.
I have never accumulated 1 BTC for one year.The whole sum of my buying,selling and earning activities with bitcoin is about 1.5 BTC from 2015 up until now.Anyway,those "1% richest bitcoin holder" statistics don't mean anything.They are just for entertainment purposes.The daily/monthly/yearly BTC trading volume is a way more important metric.
Does is matter how much bitcoins a person choose to invest? Why should we pressure people to hold at least X bitcoins, we are forgetting the most important rule of investing - invest only what you can afford to lose. Also, pressuring people into investing "buy now until it's too late, it's your last chance to become a millionaire" will only make Bitcoin look suspicious to outsiders, since its the kind of thing that scammers often say.
If we possibly want to be part of the 1 percent richest in the world when it comes to bitcoin, why not accumulate and strive to reach exactly 1 BTC? I think the portion of it is an incomplete wealth that some could claim in terms of being rich in the cryptocurrency space in the future. With the fact regarding the limited supply of it available to the masses, the value will just be divided to decimal places and obtaining a whole number of bitcoin is one of the greatest achievement one could have in the future when its value or its market price strikes too high.
what's the point of saying all this when most people don't listen and only wake up when it is too late. for example i remember distinctly there were a lot of talks along the lines of how much bitcoin should you own to be a millionaire or retire,... in the future when price was less than $300 and majority of people never bothered buying bitcoin. most of those who were starting those discussions were only claiming faucets,... then when price went up 10000% they started waking up and panic bought bitcoin at its peak just to sell it as the bubble popped and lose money!
we are in the same situation today too. nobody is going to make a move (apart from a small group with smart money, obviously) until price is above $100k and they make the same move again to lose money.
we are in the same situation today too. nobody is going to make a move (apart from a small group with smart money, obviously) until price is above $100k and they make the same move again to lose money.
Jump to: