A new milestone: 1M addresses hold 1 Bitcoin - page 2.

tjtonmoy

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Quote from: justdimin on May 18, 2023, 01:40:50 PM

~snip

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.

Flexystar

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That’s good I never doubted bitcoin and bitcoiners holding it in their wallets. There might be many more than that who posses one full bitcoin because we have been through many years now and people are already filling up their wallets all the time.

There might thousands of them who are already on this forum. I mean most of the mixer participants and old campaign participants might have gone way beyond 2-3 bitcoins in their wallets already. Considering the fact that most of them might not have sold since 4-5 years in a row or they did DCA investment.

justdimin

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Quote from: tjtonmoy on May 18, 2023, 06:04:53 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.

I understand that it is not going to be easy to handle this because it takes a long time for people to have this many people and reaching these levels are great because many people thought that we are not going to be growing. Some people may look at today and think that this was inevitable, but I remember clearly that 10 years ago people would use to say we would not even have a million people interested in it let alone have 1 bitcoin on their wallets.

I think it is important to remember that there are only 21 million bitcoins, or there will be, so at the very maximum we are going to see 21 million people have this, and we are already at 1 million mark, it is going to eventually cause the price to spike insanely high when the time comes.

Faisal2202

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Quote from: sokani on May 15, 2023, 04:04:12 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.

That's good news then, because mass adoption will help BTC to set a new ATH above $100k, As last time Elon sold most of his BTC holding when it crosses $60k. If 1 million people holds one btc means there are i million BTC are in holding and if all of them are newbies and reason behind holding these BTC are halving and selling them such as Elon has did then i it will effect the price but i do know this is not that much supply to effect it but, at least if all of those 1 million holders have a mind set to sell there BTC above $100k then i think BTC will succeed to go above it.

Quote from: tabas on May 15, 2023, 06:54:38 PM

It doesn't matter to me how many of those belong to one owner.

i think there is no bad in holding these tokens because this will decrease the circulation supply and demand is increasing too, so it is a good factor in halving of BTC to cross $100k. All i afraid, what if those newbies fall prey to market sentiments or greed and sold there holdings too soon even before starting of bullish cycle. Well, its there money they could do anything with it.

CryptSafe

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Quote from: tjtonmoy on May 18, 2023, 06:04:53 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.

tjtonmoy

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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.

Captain Corporate

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So sweet, I hope that it grows bigger. I think even bigger information would be amount of addresses that hold bitcoin, that is also considered but there are ways to just put in a few satoshi in millions of addresses if you want so that is always a confusing one. So I would guess like at least 100$ in a wallet, if that could be counted that would be lovely and yes in there we would see exchanges and people with multiple wallets as well but atl east we would see the number increasing. The more people who are interested in bitcoin the better. We should be seeing more and more people getting interested in bitcoin so that we could continue to actually mean something, otherwise its not going to be good at all, we need to constantly grow to mean something.

irhact

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Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

There's no way for those addresses to be verified of not been manipulated, bitcoin whales know that people are closely monitoring the progress of address holding the least 1 Bitcoin so what if they're increasing the number by splitting their Bitcoin between different addresses. This doesn't indicate that Bitcoin adoption is rising. Adoption should be about Bitcoin been used and not stored.

Congratulations to bitcoin for achieving this milestone but we should not think this milestone of wallet holding more than one Bitcoin is the same thing as Bitcoin been used. For Bitcoin to be celebrated of gaining adoption, we need more stores and companies accepting it.

noorman0

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Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise,

Measuring increase in adoption this way is not ideal, it does not represent the true number of owners. One can split bitcoin ownership down to the smallest fraction of units, that means max is 2.1*10^15 addresses.
If centralized exchanges never swept users' bitcoins to 1 hot address, perhaps this achievement would have been announced by the media long ago (if they didn't have other, fancier news ideas).

raumonds

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Looks like Bitcoin is reaching new heights, despite those pesky transaction fees. 1 million addresses holding at least 1 BTC? That's some serious hodling power.

Plaguedeath

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Quote from: Jet Cash on May 16, 2023, 02:20:22 AM

I think I would prefer to see smaller holdings spread more widely.

Bitcoin is for everyone, but everyone can't own Bitcoin.

There are around 8 Billion of world populations [1], assuming Bitcoin have been mined all, 21 Million Bitcoin/8 Billion peoples means every person only hold 0.002625 BTC or worth for $70. It's really small, I don't think every person are enough to hold such amount.

I think if every person holding 1 Bitcoin is already widely spread.

[1] https://www.worldometers.info/world-population/

ethereumhunter

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But we still don't know who owns all those wallets and can only know that each wallet has 1 BTC. But it seems that it would be strange to see that many wallets only contain 1 BTC because usually, people keep varying amounts of BTC and not 1 BTC.

But let's just let those who have saved 1 BTC in that wallet because the most important thing is that we also have to think about ourselves and try to keep accumulating lots of BTC. And we also know that investing in BTC is a good way to get big profits in the future even though the price hasn't gone up high now and even tends to stay low now.

crunck

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To me, increasing the number of wallet addresses doesn't make much sense since one person has ownership of hundreds of different wallets. But with the increasing acceptance of bitcoin by more stores and more countries around the world, that interests me more. That proves the demand for bitcoin is really strong, so the price increase will only be a matter of time when supply exceeds demand.

Fundamentals Of

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Although the increase in addresses doesn't necessarily mean an increase in Bitcoin supporters or adopters, I'm sure there is also growth there. Of course 1 million addresses holding 1 Bitcoin is not equal to saying there are already 1 million people owning 1 Bitcoin. But I'm pretty sure that there are more people holding 1 Bitcoin now than in the past month, week, or even yesterday. Adoption is growing and one way of knowing it is knowing that every single day a new person learns Bitcoin, generates an address, and buys.

LittleBitFunny

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Quote from: BenCodie on May 17, 2023, 08:39:39 AM

Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

What you say is not wrong, this 1 million wallet is insufficient to prove the increasing use of bitcoin. This is just a metric for reference, and it doesn't have any meaning regarding bitcoin acceptance, as many people can also hold many wallets. I myself am also using two wallets to store bitcoins for different needs.

But we don't need that metric, just seeing with the naked eye what's going on, there's no denying that bitcoin is becoming increasingly popular and of interest to more people. Along with the economic crisis, inflation, and bank collapse... all are positively impacting the increase in popularity of bitcoin worldwide.

tbct_mt2

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Quote from: kryptqnick on May 17, 2023, 09:40:14 AM

That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.

Bitcoin will be distributed to more people but not all of them will become Bitcoin holders. They will buy it, sell it or if they feel disappointed, they will exit this market forever. Fortunately, coins won't disappear to the air and will be changed from sellers to buyers. If there are people who exit this market forever, there will be opposite people who will become diamond hand holders.

Some bitcoins will be lost by people who lose their private keys and it is painful for people who lose their bitcoins but it is great present for other holders. It will help Bitcoin has less supply and makes its price higher.

Quote from: BenCodie on May 17, 2023, 08:39:39 AM

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin.

Addresses, wallets and holders are different and we can not identify holders exactly with on-chain data.

Diversifying our bitcoins into different wallets, different addresses and devices are best ways to avoid losing all of our coins. We should not think we will never be hacked.

kryptqnick

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That sounds like a nice achievement in distribution of coins, and I hope we'll see even better distribution in the future. The op acknowledged that some addresses can hold funds of many people and some people can have several wallets, and with that, I still think it's largely not pointless info.
As for the past few weeks and the fees, I think it's really great that Bitcoin bounced back pretty fast, and while the fees are still not low, they are reasonable and can be expected to fall even more. It's been two years since the last fee spike, and that one was way worse. I'm okay with such occasional situations, and grateful that they are rare and temporary.

Luzin

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Quote from: Crypt0Gore on May 17, 2023, 09:02:01 AM

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

It seems that you are sure of the owner of that address. Maybe yes and no. Only a few companies clearly store Bitcoin and if calculated it is no more than 1 million BTC. So I think there are many owners besides the company. The happy thing is, if they hold back then they have done a good act. They reduce the circulating supply. The hope is that they will always hold back and continue to give confidence that BTC is a good asset to invest. So that the price of BTC will increase and have great confidence in its value.

Crypt0Gore

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That's good news, more adoption rate than what we have seen in the past years, bravo, the future looks promising for crypto adoption, but there is no way to know that those addresses belong to 1 million different people, I mean 1 address per one person, there is simply nothing to prove this because people don't trust a wallet address for too long, whales are now smarter since they heard about untouched Bitcoin wallet address getting stolen by hackers and bad actors, now they are very careful.

I won't be surprised if many of those addresses belong to a company, a whale, or an entity, they might decide to separate the Bitcoin instead of leaving them in a single address, and if they can handle the safety of the private keys, this is a good safer plan for holding Bitcoin.

BenCodie

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Quote from: royalfestus on May 15, 2023, 04:25:49 PM

The increasing number of wallets holding at least one Bitcoin is a clear indication that Bitcoin adoption is on the rise, and more individuals are showing interest in owning and utilizing it. As a result, it's probable that the demand for Bitcoin will increase, which could lead to a gradual increase in its value over time. Nonetheless, it's worth noting that Bitcoin is a highly volatile asset, and its value is susceptible to significant fluctuations in response to market conditions

One million addresses holding 1 Bitcoin does not mean that there are 1,000,000 different individuals holding Bitcoin. Miners, billionaires and first-generation holders who have invested some time into distributing their coins into more than one address could very well control a large portion of these addresses, and have hidden them into smaller amounts to prevent the wider ecosystem from seeing such a strain of power into select few people. I'd say that this is much more likely than 250,000 of these addresses belonging to different individuals.

Topic: A new milestone: 1M addresses hold 1 Bitcoin - page 2. (Read 520 times)