It would be easy to achieve those amount back when BTC was so low it seem's to be a small amount but have a really high value right now.
Why do I remember the guy who bought a Pizza for 10,000 BTC when I saw that it only takes 0.28BTC to be in the 1% of the richest Bitcoin holders.
Topic: 0.28 bitcoin to be in the 1% of richest bitcoin holder - page 2. (Read 486 times)
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.
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.
This is not a true reflection of the fact, this is not a large amount of money to be able to reach the 1% of the richest wallets. The reason is that too many Bitcoin wallets with low value are created and one person may own multiple wallet addresses.
Statistically? Maybe yes, but in reality, I think no. BTC0.28 is such a small amount and can be easily afford or acquire by anybody ( specially among the Bitcoin hodlers ), I don't consider it as "rich statistically". Also, there are investors who have more than one or two wallets which contains more than the amount you have mentioned.
I might say BTC1 will be considered as rich in cryptospace statistically.
I might say BTC1 will be considered as rich in cryptospace statistically.
I don't think this is accurate
I have more than 0.3 BTC, but I have this amount splited in web wallets, desktop wallets, exchanges, mobile wallet etc...so there's another people who does the same, and they won't be in this 1% even if they hold more than 0.28
I guess they referenced it from various statistics gathered around the world. Also, they are technically a part of it since it never hinted that "each account must own 0.28BTC or higher". It just said that they must have ownership of 0.28BTC.I have more than 0.3 BTC, but I have this amount splited in web wallets, desktop wallets, exchanges, mobile wallet etc...so there's another people who does the same, and they won't be in this 1% even if they hold more than 0.28
There's also the idea of how the supply of 21million would never satisfy a 1BTC per human in the world with its big population, not to mention the vast discrepancy between people who can actually afford to buy and hoard BTC and those who can only buy a few small amounts every now and then.
I don't think this is accurate
I have more than 0.3 BTC, but I have this amount splited in web wallets, desktop wallets, exchanges, mobile wallet etc...so there's another people who does the same, and they won't be in this 1% even if they hold more than 0.28
I have more than 0.3 BTC, but I have this amount splited in web wallets, desktop wallets, exchanges, mobile wallet etc...so there's another people who does the same, and they won't be in this 1% even if they hold more than 0.28
It's possible to earn that now, so I must say if people read this they will be inspired to hold.
The future is always uncertain but we can also start investing now and if every we lose, we won't lose that much money but reward is quite so good.
personally, I am investing in btc but from time to time I did sell it to take profit.. maybe I'll be more patient and wait for this wonderful time to come, if I won't be able to benefit this then maybe my beneficiaries.. lol...so it's better to educate our family now about bitcoin so they'll be aware in the future.
The future is always uncertain but we can also start investing now and if every we lose, we won't lose that much money but reward is quite so good.
personally, I am investing in btc but from time to time I did sell it to take profit.. maybe I'll be more patient and wait for this wonderful time to come, if I won't be able to benefit this then maybe my beneficiaries.. lol...so it's better to educate our family now about bitcoin so they'll be aware in the future.
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.
This is achievable if you are that average signature poster. Even for bounty hunters it's doable in a year if they invest their time in the right projects.
To think that just 4 years ago people were making a whole Bitcoin every month posting in campaigns and doing various other jobs on the forum. 8 years ago you could get a Bitcoin for free by claiming faucets or taking part in giveaways. Whet we used to understand as the elite is changing every year.
I hope that by the time 0.28 makes me an elite I'll still have strong will and have that much because it's going to be worth a lot of money at that point.
This will only be meaningful in terms of lifestyle when people generally talk about their savings in terms of sats not bitcoins. That will require worldwide adoption by most every sector in society which honestly seems pretty far away right now.
Seems more like a speculation post , it's is only my personal opinion. People should not be care about supply, it is more important its use, holding cryptocoin in general will not make any sense to me except the usual strong speculation.
As of Jan. 14 we already have 784,000address that owns 1 bitcoin or more. The number is already had an 11% increase from 707,000 that is recorded a year ago. In 2015 has more than doubled. Most of the addresses came from exchanges and big player "whales" that usually hold a big amount of bitcoin.
You realize that a year ago we had 657 000 fewer bitcoins in circulation, right?
It is normal for all the addresses holding more than 1 or more than 10 or 0.1 to grow in number since we have more bitcoins that must be distributed somehow.
But this trend will become slower as the halving is coming and the numbers of bitcoins added will shrink each year.
That's insane. This shows how much of a value Bitcoin is starting to become. To me it's not very different to telling me "1oz of gold to be in the 1% of the richest gold owners", because I've always considered Bitcoin a cheap commodity for what it is capable to do.
Well, actually it doesn't say that and nothing has changed from the beginning of bitcoin in 2009 since the OP has made the calculation based on the entire supply /world population.
With 0.28 BTC you are going to be in the 1% richest bitcoin holders, but nothing more, just as it takes only 1 LTC to be in the top 1% LTC rich list, but nobody is saying this will make you part of the 1% richest men in the world by all metrics.
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... ?
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... ?
It's 21 000 000 / 75 000 000 (1% of the population) > 0.28
Basically the minimum required if all the bitcoins would be split to only 1% of the population.
Mathematically correct, with 0.28 you can't be outside the 1% but in reality...meh!!!
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.
1% when applied to the world is kind of a meaningless figure. The salary you would need to be in the world's top 1% is about $32,000. That's fine. I'll bet people who earn that in first world country don't feel like the top 1% but they should.
To be part of the 1% of the richest in the world when it comes to Bitcoin you only need 0.28 Bitcoin . - According to Jake Levison
Yea, in BTC terms. I honestly don't think that statement means that much because it's probably only relevant if Bitcoin actually reached far far greater heights in terms of adoption. I'm personally also a long-term bull and I completely get what Levison is trying to say, but idunno. It's not safe to assume that some people are already assuming that they're going to be one of the future world elites if they own 0.28 BTC. A slightly negative comment to balance things out a bit I guess?
It's probably assumed that with mass adoption the price increase is a given. Therefore with the huge value, regular people will be getting small amounts of BTC for everyday needs. Those addresses will still be wealthier than you but all the newscomers which will outnumber old investors will change the metrics completely.
To be part of the 1% of the richest in the world when it comes to Bitcoin you only need 0.28 Bitcoin . - According to Jake Levison
Yea, in BTC terms. I honestly don't think that statement means that much because it's probably only relevant if Bitcoin actually reached far far greater heights in terms of adoption. I'm personally also a long-term bull and I completely get what Levison is trying to say, but idunno. It's not safe to assume that some people are already assuming that they're going to be one of the future world elites if they own 0.28 BTC. A slightly negative comment to balance things out a bit I guess?
That's insane. This shows how much of a value Bitcoin is starting to become. To me it's not very different to telling me "1oz of gold to be in the 1% of the richest gold owners", because I've always considered Bitcoin a cheap commodity for what it is capable to do.
This thread is gonna be interesting in a decade. Very interesting.
This thread is gonna be interesting in a decade. Very interesting.
Having the said amount would let you make yourself feel good about the fact that you belong to the rare 1% statistics in your life. It may only be in bitcoin terms though knowing how hard it will be to obtain bitcoin in the nearer future due to its price, you might as well keep it and just hope for the best. Luckily though I have managed to get more than that amount and I'm not planning to spend it any time soon.
Well, if there is a time frame of earning Bitcoin is not impossible for us to have a number of Bitcoin into our wallet. But if you are a small investor the fraction amount of BTC, 0.028 is quite big for you to purchase that amount, --especially at this moment Bitcoin will become surging the price in the market. I will never doubt a big investors or let's just call a big whale will perhaps have a huge number of Bitcoin on their wallet.
To be part of the 1% of the richest in the world when it comes to Bitcoin you only need 0.28 Bitcoin . - According to Jake Levison
Yea, in BTC terms. I honestly don't think that statement means that much because it's probably only relevant if Bitcoin actually reached far far greater heights in terms of adoption. I'm personally also a long-term bull and I completely get what Levison is trying to say, but idunno. It's not safe to assume that some people are already assuming that they're going to be one of the future world elites if they own 0.28 BTC. A slightly negative comment to balance things out a bit I guess?
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.
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