A new milestone: 1M addresses hold 1 Bitcoin

pawel7777

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Quote from: sokani on May 15, 2023, 05:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

It's a bit surprising, according to the chart in the linked article, there's a long-term trend of the number of wallets with one or more bitcoin increasing over time. This goes against the theory that bitcoins (or wealth in general) have a tendency of getting concentrated in the hands of the few richest holders. Unless a number of wallets is not a good indication of a number of users, and maybe it's just a sign of whales splitting their holdings into smaller wallets, for safety or convenience.

bitterguy28

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Quote from: Minecache on May 25, 2023, 05:27:32 AM

Quote from: bitterguy28 on May 24, 2023, 09:21:03 PM

Quote from: crunck on May 24, 2023, 08:32:24 PM

Quote from: South Park on May 24, 2023, 07:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

It's not entirely true, but it's not altogether wrong, either. I think we should limit investing in altcoins during the down season, with altcoins, we won't know which coins will recover and rise again because there are too many altcoins that will never recover. As previous bear seasons have shown, many of the market's potential altcoins in 2017 failed to return to their old ATH, and most have been replaced by new altcoins in 2021. And I think history will most likely repeat itself, 2021 topcoins will be replaced by newer altcoins in the next bull season. So it is risky to invest in altcoins during the bear season, and it makes more sense to invest in the bull season as most will go up when bitcoin conquers new ATH.

actually what I pointed out is what he said about best to buy in bullrun in which you are also correct that it is not completely wrong(because we need to buy either bull or bear) but the best chance is always when there is a bear because the lower we buy is the higher we can profit once the increase happens in the coming years.

Quote from: Minhxx on May 25, 2023, 07:28:19 AM

Currently bitcoin is regulating , I believe btc is more and more popular in the world if it is accepted for payment of services, Not manipulated by the market

It is accepted as payment service in some part mate so we only need a mas adoption for all of this to take place.

Minhxx

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Currently bitcoin is regulating , I believe btc is more and more popular in the world if it is accepted for payment of services, Not manipulated by the market

Minecache

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Quote from: bitterguy28 on May 24, 2023, 09:21:03 PM

Quote from: crunck on May 24, 2023, 08:32:24 PM

Quote from: South Park on May 24, 2023, 07:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

It's not entirely true, but it's not altogether wrong, either. I think we should limit investing in altcoins during the down season, with altcoins, we won't know which coins will recover and rise again because there are too many altcoins that will never recover. As previous bear seasons have shown, many of the market's potential altcoins in 2017 failed to return to their old ATH, and most have been replaced by new altcoins in 2021. And I think history will most likely repeat itself, 2021 topcoins will be replaced by newer altcoins in the next bull season. So it is risky to invest in altcoins during the bear season, and it makes more sense to invest in the bull season as most will go up when bitcoin conquers new ATH.

ChiBitCTy

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Wow, I'm actually surprised the number is that high. I would be interested in knowing what the actual/true number is for how many different people own those addresses out of the entire 1 million. I would have to guess that at least 15% of the 1 million address are those that are owned by the same/singular person.

As you point out this network clogging thanks to ordinals is not a good look for bitcoin and mostly just entirely fucking stupid imo, but at least it's being so heavily utilized.

bitterguy28

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Quote from: crunck on May 24, 2023, 08:32:24 PM

Quote from: South Park on May 24, 2023, 07:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

that is not correct mate , we must not invest in bull run instead best to start investing when there is a bear so we can keep the coin holding and yes after the bear the fruits of investment will come .
remember that every after bear then bull run is coming and that is what this investment makes profitable .

crunck

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crunck

Quote from: South Park on May 24, 2023, 07:09:07 PM

.....
and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

Profits from altcoins are so good, there's no reason to stay away from them. But we need to invest at the right time to get the best return, and I agree with you, only invest in altcoins during the bull season because then the risk is not too high, and making a profit will be easy. During the bull season, when bitcoin goes up in price, the entire market goes up, so it's easy to pick potential altcoins to invest in.

South Park

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Quote from: Minecache on May 21, 2023, 04:04:35 AM

I don't think many people see the benefits of the bitcoin price drop or the bear market as something in our favor. Because as I observe most of the bitcoin price prediction topics, everyone wants bitcoin to continue to rise and recover quickly to 40k or 50k. Few expect the bear season to last or bitcoin to fall below $20k again. Or it looks like many people bought at a higher price, so most don't want to see bitcoin drop in price.

It's still the right time to buy bitcoin, but I don't think altcoins are a good option, I mean, I haven't seen any altcoins with a utility or use case. It's all just a cliché theory, no project has been put into practice yet, so don't believe what they advertise. Investing in altcoins is not bad, but it needs to be at the right time, now is not the time to believe in altcoins.

Although bitcoin is 14 years old, we are still in the early stages of this revolution, so don't miss this once-in-a-lifetime opportunity.

Those which do not like the idea of seeing the price of bitcoin drop are the ones that probably entered the market recently and they are just at their breakeven point at the current prices, however the rest of the market participants which have been here for a longer period of time probably look forward to a decrease on the price of bitcoin, and when it comes to altcoins I prefer to stay away from most of them, however once the bull market is present it may not be a bad idea to invest some of our profits in an altcoin or two, as the altcoin season has the tendency to appear a little bit later than the bitcoin bull run.

flyingcarpet

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Quote from: sokani on May 15, 2023, 05:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

The more valuable something is, the more people it serves. I think that's what makes Bitcoin beautiful. He states that everyone is equal in society and bitcoin doesn't just choose a certain segment. Anyone who wants to access Bitcoin must access and use it. I am really happy with this news. Even though I don't have 1 bitcoin, it's good news that so many people have it.

drwhobox

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Quote from: FrozenBit on May 24, 2023, 05:32:09 PM

This is a good thing when Bitcoin achieves a new milestone in its history. Changes in ownership among Bitcoin holders occur continuously. Some individuals may choose to sell their holdings during the bull run to take advantage of the price increase, while others may see it as an opportunity to accumulate more Bitcoin. This dynamic between buyers and sellers contributes to the constant circulation of Bitcoin in the market. More than that, as the number of Bitcoin holders increases and awareness increases, it can contribute to continued Bitcoin use and acceptance in various ways. Also If historical patterns persist, the halving could contribute to an increase in the number of wallets holding more than 1 bitcoin, as scarcity and the potential for a long-term appreciation of value will drive the accumulation strategy.

Indeed great news. This indicates that people now holding and investing in bitcoin more than ever. One million is a huge number and imagine how many addresses hold at least 0.01 bitcoin. I think people now believe in bitcoin and many people are investing in it. I saw so many people posting on the forum about implementing bitcoin into their business. All these positive actions helps bitcoin to grow more.

FrozenBit

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This is a good thing when Bitcoin achieves a new milestone in its history. Changes in ownership among Bitcoin holders occur continuously. Some individuals may choose to sell their holdings during the bull run to take advantage of the price increase, while others may see it as an opportunity to accumulate more Bitcoin. This dynamic between buyers and sellers contributes to the constant circulation of Bitcoin in the market. More than that, as the number of Bitcoin holders increases and awareness increases, it can contribute to continued Bitcoin use and acceptance in various ways. Also If historical patterns persist, the halving could contribute to an increase in the number of wallets holding more than 1 bitcoin, as scarcity and the potential for a long-term appreciation of value will drive the accumulation strategy.

ektotanes

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It's great that people were able to accumulate some bitcoin while they had the opportunity. This milestone is worth celebrating!

Minecache

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Quote from: tjtonmoy on May 21, 2023, 01:46:08 PM

Quote from: Minecache on May 21, 2023, 04:04:35 AM

~Snip

Alts were never an option from the beginning. They are just a cheap copy of Bitcoin itself, and they can never provide what they have promised. Always saying that they are better than Bitcoin, bla bla bla. Like, where's your proof? At least do the half what Bitcoin is capable of. Those who knows this, they will never choose other ALTS over Bitcoin. And only those who are not capable of holding for a long time will say that Bear market is bad business. Also newbies who will face it for the first time.

I do not recommend anyone to invest in altcoins at this stage because it is too risky. But as I said above, investing in altcoins is not necessarily bad, but we want to invest and need to choose the right time. In my opinion, altcoins are suitable for short-term investment and preferably during the bull season, never hold them for as long as bitcoin.

I think we are here for profit, so there is no need to be so stubborn and pass up other opportunities. For the safety of our investment, bitcoin is always the preferred choice, but the opportunity with altcoins should not be missed. Don't worry too much about alts being junk or trash, but as long as they're profitable, don't ignore them. Why not speculate on altcoins for profit and accumulate bitcoins afterward?

calonpa

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Quote from: sokani on May 15, 2023, 05:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

It is a very good stat which shows that more and more people are using bitcoin. They are holding 1 bitcoin which is big amount in dollars and this shows their trust on crypto. The numbers will increase with time with more users.

tjtonmoy

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Quote from: Minecache on May 21, 2023, 04:04:35 AM

~Snip

Alts were never an option from the beginning. They are just a cheap copy of Bitcoin itself, and they can never provide what they have promised. Always saying that they are better than Bitcoin, bla bla bla. Like, where's your proof? At least do the half what Bitcoin is capable of. Those who knows this, they will never choose other ALTS over Bitcoin. And only those who are not capable of holding for a long time will say that Bear market is bad business. Also newbies who will face it for the first time.

livingfree

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Quote from: rybako on May 21, 2023, 04:33:13 AM

This is because of current prices. Even the current price point is a good time to entry. Anyone holding one bitcoin can make about $100000 in profit in next year at current prices and past growth.

We're certain and hoping that $100k is going to happen soon but not everyone can avail to have 1 Bitcoin and those that have it, well, we're just waiting for the right time until it comes.

And this milestone will not stop and it will more astonishing in the near future when everyone starts to see how much bitcoin is once again.

Quote from: rybako on May 21, 2023, 04:33:13 AM

No other investment will give these returns.

Well, those that have made a lot of profits with altcoins can argue with you. But of course, we're forever with and for Bitcoin.

rybako

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Quote from: sokani on May 15, 2023, 05:04:12 PM

The last past weeks have been really challenging and tough for bitcoiners as a result of the high transaction fees caused by ordinals on the network. Despite this setback, Bitcoin is still conquering, setting the pace and hitting milestone achievement. According to glassnode, the number of address holding atleast 1 BTC are now 1 million. According to the report, last year when the market took a deep dive, a good number of persons were wise enough to grab some bags. Although, some addresses belong to crypto exchanges and some persons might have more than one wallet address but this milestone achievement is worth celebrating.

Source: https://cryptoslate.com/insights/a-new-milestone-1m-addresses-hold-1-bitcoin/

This is because of current prices. Even the current price point is a good time to entry. Anyone holding one bitcoin can make about $100000 in profit in next year at current prices and past growth. No other investment will give these returns.

Minecache

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Quote from: CryptSafe on May 18, 2023, 07:28:10 AM

Quote from: tjtonmoy on May 18, 2023, 07:04:53 AM

It's good to see that the community is growing at this speed. I used to think that price drops are bad things. But as I have learned in the past 2 bear markets, it's an opportunity. Many new will join and others will fill their bags in this bear markets. This is quite an achievement for Bitcoin community. And I think it is worth of celebrating. We still have a long way to go in order to reach global acceptance of Bitcoin. This achievement really shows us that we are going in the right direction. I think we won't have to wait that much as we have predicted.

A growth with speed is what we desire for bitcoin so as to get a wider and bigger community of bitcoin enthusiasts and believers. This is the ultimate goal for which we are here for.

Price drop for bitcoin is very much beneficial to all as it would usher in new investors who are ready and willing to purchase bitcoin in high volume and fractions as well. All are still part of the bitcoin holders irrespective of the volume being bought by them. So therefore, price drop in bitcoin and Crypto generally are not bad, it is right time to bag more if you can as long as the token or coin have a utility value or use case, that would give you a guide on coin or tokens to purchase.
Nevertheless, at this stage based on the percentage of the world population aware of bitcoin, it is just minuit compared to the total numbers of humans in the world itself which invariably means that bitcoin is still at its early adopters stage and this is no cause for alarm as we still have a long way to go in the bitcoin movement.

I don't think many people see the benefits of the bitcoin price drop or the bear market as something in our favor. Because as I observe most of the bitcoin price prediction topics, everyone wants bitcoin to continue to rise and recover quickly to 40k or 50k. Few expect the bear season to last or bitcoin to fall below $20k again. Or it looks like many people bought at a higher price, so most don't want to see bitcoin drop in price.

It's still the right time to buy bitcoin, but I don't think altcoins are a good option, I mean, I haven't seen any altcoins with a utility or use case. It's all just a cliché theory, no project has been put into practice yet, so don't believe what they advertise. Investing in altcoins is not bad, but it needs to be at the right time, now is not the time to believe in altcoins.

Although bitcoin is 14 years old, we are still in the early stages of this revolution, so don't miss this once-in-a-lifetime opportunity.

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Quote from: tjtonmoy on May 19, 2023, 01:37:56 PM

Everything takes time and a proper approach towards its growth. Maybe months, years, decades, who knows? But once it has taken the pace, it will gradually start to grow more and move as we move towards the future. You cannot become a millionaire overnight, it will take time and effort in order to make that happen. Some goes with Bitcoin growth. We have seen in the past that Bitcoin has slowly but surely grown. As you have mentioned, like people used to say that no one will own one bitcoin in their wallet. Now see how much it has grown. And now the numbers are just going to go up. This is like once a thing start to grow, it will pick up the pace and nothing can stop it. Bitcoin is moving towards that direction for sure. Not everyone can afford to own 1 Bitcoin in their wallet, but the number of people owning Bitcoin will grow as we keep moving towards the future. The total number of people will increase, and the number will skyrocket. It's just gonna need some time.

I agree with this, this is why I am in favor of long term approach as always. While some people tried to tell me what some coin they held made them, I said I made a lot less with bitcoin and they mocked me, now most of them lost their money and they are crying over what they could have done, and yet I am doing fine and I do not worry about anything at all.

People could make their decisions based on what they are seeing currently and I understand that, shortsighted investments are a common thing and I get it, but I am not going to be doing anything like that, I am just going to consider the situation as normal and will not matter to me at all. I think the best thing to do in this case is to make sure that people end up with a good result while waiting long term.

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Quote from: sokani on May 15, 2023, 05:04:12 PM

According to glassnode, the number of address holding atleast 1 BTC are now 1 million.

This Signs of power from the bulls round is coming!!

Topic: A new milestone: 1M addresses hold 1 Bitcoin (Read 473 times)