Topic: How much bitcoin is "a fair share"? - page 2. (Read 386 times)
I once read a post. In this article, it was stated that those who have 0.003 BTC will be rich. I think the theory was born of these calculations. This is how we look at today's values. But it is very difficult to predict what will happen in the future.
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
Seriously?
You don't believe everyone has some bitcoins in their wallet?
Do you believe some people don't use bitcoin at all?
You don't believe even half of the population uses bitcoin?
No way....are you, Sherlock Homes, maybe? Can I have an autograph?
If we divided by 1 billion it would be 2.1 bitcents
&example where every US Citizen having 6.4 bitcents would already add up to 21 Million.
Hmm, never thought trying to use bitcents would be so confusing.
Stick to the mBits
You shouldn't divide the total supply only ,but the total btc supply times the btc market liduidity.
Why?
He was trying to make a point what would happen if everyone would own a few mBits.
What has market liquidity to do with this? What has trade or exchange rate to dow with?
The point is pretty simple, just how we have 300 cars/1000 people or 1700 phones/people we can only have 3BTC/1000 people.
Bitcoins per person... If you simply divide 21 million by 7 billion you get this:
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
This is a pretty stupid calculation you are going.
Less than 10 million people on the planet earth are actually using btc.
You shouldn't divide the total supply only ,but the total btc supply times the btc market liduidity.
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
I agree ,We couldn't really compute it right now since not everyone is using it.
And besides even when we mined all the BTC and every people are using it we couldn't compute the right amount that everyone would hold because by that time,
There would be plenty of lost Bitcoin.
I don't fully understand the point of "fair share" or if there is really such a thing. This is assuming that all people are interested with bitcoin and that everybody should be owning some. Unfortunately, bitcoin is not a like a communistic pie that we have to equally divide with all people... and in fact if you don't have the money to buy bitcoin and you are not ready to exert some effort to get some then at the end of the day even if bitcoin can go parabolic and reach $100,000 you will have zero. Okay, I might have been carried away with that statement. My point is that you can have as small or as big as you want because at the end of the day your fair share is what you can afford to have.
Bitcoins per person... If you simply divide 21 million by 7 billion you get this:
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
What's the bottomline of this thread?
What I understood is that you are saying, we should not sell off our bitcoins below 100,000 USD! If that is what you are trying to convey, then it is totally incorrect!
Unless and until we start using bitcoin as a currency, it will never reach to that price point ever. Mining and HODLing is never going to help unless those mined bitcoins are circulated within the economy! Bitcoin can only flourish to such an enormous level, only when it is used as a currency! That's the end use of bitcoin!
calling it "a fair share" may create a wrong idea in people's head that bitcoin is supposed to be distributed evenly among people like a charity! but that is not what bitcoin was meant to be like.
but your point about scarcity of bitcoin is valid. in fact the main reason why price is going to continue to rise until mass adoption is exactly this. of course mass adoption is not going to be anywhere close to 100% of people in the world using bitcoin but only a large percentage.
but your point about scarcity of bitcoin is valid. in fact the main reason why price is going to continue to rise until mass adoption is exactly this. of course mass adoption is not going to be anywhere close to 100% of people in the world using bitcoin but only a large percentage.
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
Exactly, the computation is quite wrong because of adding certain people who actually don't use it. Therefore we should expect a higher amounts of fair share if we are only going to add those who are actually using it.
But obviously if all might have the same amounts being stored in their wallet bitcoin market might eventually die because it's nature is to be processed so that the economy will grow and basically that is why sometimes whale traders are good for the market.
Notice I'm not making a claim on the actual distribution of bitcoin, although I suppose if I were, I'd assume a somewhat zipfian distribution (as in according to zipf's law).
My whole point is that bitcoin is extremely scarce as compared to the population. Take the example where every US Citizen having 6.4 bitcents would already add up to 21 Million.
The richest bitcoin entities have amounts of 100,000+ bitcoins leaving a lot less for the rest of us. It can easily be assumed that the top 10% of bitcoin holders hold more than 90% of bitcoin, where the supply of bitcoin is considered the number of bitcoin that can be used (disregarding lost and burnt coins).
If all people can have it is good and this can't happen now because not all bitcoin is mined and old people will not use it or buy it, but if will happen bitcoin price will be much higher, but i think is not good that someone have a lot of bitcoin because if have 100k and sell this can affect the price for some period.
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
Exactly, the computation is quite wrong because of adding certain people who actually don't use it. Therefore we should expect a higher amounts of fair share if we are only going to add those who are actually using it.
But obviously if all might have the same amounts being stored in their wallet bitcoin market might eventually die because it's nature is to be processed so that the economy will grow and basically that is why sometimes whale traders are good for the market.
Notice I'm not making a claim on the actual distribution of bitcoin, although I suppose if I were, I'd assume a somewhat zipfian distribution (as in according to zipf's law).
My whole point is that bitcoin is extremely scarce as compared to the population. Take the example where every US Citizen having 6.4 bitcents would already add up to 21 Million.
The richest bitcoin entities have amounts of 100,000+ bitcoins leaving a lot less for the rest of us. It can easily be assumed that the top 10% of bitcoin holders hold more than 90% of bitcoin, where the supply of bitcoin is considered the number of bitcoin that can be used (disregarding lost and burnt coins).
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
Exactly, the computation is quite wrong because of adding certain people who actually don't use it. Therefore we should expect a higher amounts of fair share if we are only going to add those who are actually using it.
But obviously if all might have the same amounts being stored in their wallet bitcoin market might eventually die because it's nature is to be processed so that the economy will grow and basically that is why sometimes whale traders are good for the market.
Im sure not everyone nowadays have 0.003 bitcoin in their wallet some doesnt even use bitcoin at all so that 0.003 bticoin per person isnt accurate at all.Not all people around the world uses bitcoin I think not even half of the entire worlds population uses bitcoin.
Bitcoins per person... If you simply divide 21 million by 7 billion you get this:
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
0.003 It's currently around 25 dollars worth of bitcoin.
So as long as you have this, you have your share. If we divided by 1 billion it would be 2.1 bitcents
If we divided by the population of the United States it would be 0.064
The actual numbers are lower since not all bitcoin has been mined and a lot of bitcoin has been lost.
Also these numbers don't imply that you shouldn't strive to increase your holdings to any arbitrary multiple of that. More is definitely better.
I think these numbers are good to keep in mind to remind ourselves how scarce bitcoin actually is. A whole bitcoin is actually a whole lot of bitcoin. Kind of crazy that people are letting whole bitcoins go for less than 100,000 USD
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