If you have 100 btc... - page 2. | Bitcointalksearch.org

Loki8

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Activity: 146

Merit: 100

Quote from: BurtW on November 12, 2013, 12:58:00 PM

Quote from: Loki8 on November 12, 2013, 12:53:28 PM

The distribution [of wealth] always remains very unequal.

This is true. But, I am curious:

It sounds as if you believe something should be done about it. Is that true?

If you believe something should be done about it then what do you propose should be done?

Take a look at new innovative coins like eMunie or OpenUDC, the distribution of wealth is much less unequal and much more thought out.

Loki8

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Quote from: BurtW on November 12, 2013, 12:55:22 PM

You stated:

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

This is a flat out lie. You cannot prove this because it is not true.

Oh... It's just an expression to say that the world's wealth and the bitcoin's wealth are very unevenly distributed.

wobber

legendary

Activity: 1064

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Quote from: Rival on November 12, 2013, 01:05:25 PM

People do not die because no one helps them. They die because of diseases, accidents, genetic issues, poisons, violence, and sometimes just simple old age.

If I were to use your logic, I could claim that I save hundreds of people every day by refraining from killing them.

How many accidents can you prevent with knowledge and research (seat belt saves lives you know)
Diseases - see what i said about research.

Violence - is mainly because of the poor distribution of wealth. Thefts and robberies.

MaxBTC1

newbie

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And I'm stuck here with 0.23 Cry

Rival

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People do not die because no one helps them. They die because of diseases, accidents, genetic issues, poisons, violence, and sometimes just simple old age.

If I were to use your logic, I could claim that I save hundreds of people every day by refraining from killing them.

wobber

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Activity: 1064

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Actually one needs very few limited resources to have a sane, wealthy, healthy and happy life.
- Good home, not too big but not small either, maybe with some self-sustainable features like green energy, garden
- Technology; TV, cellphone, computers, etc
- Cars. one or two, for the family
- Some physical silver and gold
- A few bitcoins (10 I'd say)
- Cash / bank account for emergencies, including medical

I'd say that for US 400,000 would be enough. For EU, 150,000 euros are great.

Everything people have above this and do not use to make things happen in this world (medical research would be at the top - check how many die each second without basic health services) is just greed. And greed for power, which is the worst, changes one's character in such twisted ways that you are reluctant to call that person human. I saw some cases...

BurtW

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All paid signature campaigns should be banned.

Quote from: Loki8 on November 12, 2013, 12:53:28 PM

The distribution [of wealth] always remains very unequal.

This is true. But, I am curious:

It sounds as if you believe something should be done about it. Is that true?

If you believe something should be done about it then what do you propose should be done?

BurtW

legendary

Activity: 2646

Merit: 1136

All paid signature campaigns should be banned.

You stated:

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

This is a flat out lie. You cannot prove this because it is not true.

Loki8

full member

Activity: 146

Merit: 100

Quote from: wachtwoord on November 12, 2013, 12:37:54 PM

because it's nonsense. Look at my calculation above. The top 0.8% owns 51.2%.

The distribution always remains very unequal.

wachtwoord

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Activity: 2324

Merit: 1125

Quote from: Loki8 on November 12, 2013, 12:34:44 PM

Quote from: BurtW on November 12, 2013, 12:25:32 PM

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

Prove this or delete it.

Proof for what?

99% of the world's wealth is owned by 1% of people? or 99% of the bitcoin's wealth is owned by 1% of bitcoiners?

What don't you believe?

because it's nonsense. Look at my calculation above. The top 0.8% owns 51.2%.

Loki8

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Activity: 146

Merit: 100

Quote from: BurtW on November 12, 2013, 12:25:32 PM

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

Prove this or delete it.

Proof for what?

99% of the world's wealth is owned by 1% of people? or 99% of the bitcoin's wealth is owned by 1% of bitcoiners?

What don't you believe?

wachtwoord

legendary

Activity: 2324

Merit: 1125

Quote from: Rygon on November 12, 2013, 12:14:11 PM

If you want to feel even better about owning 100 coins, look at the Pareto distribution for wealth. If there are millions of people with Bitcoins, an individual with 100 BTC is somewhere in the top 1%.

Challenge accepted. Say 21M people with Bitcoins (and of course a total of 21M BTC), using Pareto this leads to:

Code:

21 M people.

~1 BTC per person

-----

Top 20% 4.2M people
80% of wealth 16.8 M  BTC

--> avg 4 BTC

--------------------

Top 4%, 0.84M people

64% of wealth 13.44 M

---> avg 16 BTC


-----------

Top 0.8% 0.168M people
51.2 % of wealth 10.752M

--> avg 64 BTC

---------------------------------

Top 0.16% 0.0336M people (33600 people)
40.96% of wealth 8.6016 M

--> avg 256 BTC

---------------------------------

Top 0.032% 0.00672M people (6720 people)
32.768% of wealth 6.88128M

--> Avg 1024 BTC

So the average person has 1 BTC
In the top 20% the average person has 4 BTC
In the top 4% the average person has 16 BTC
In top top 0.8% the average person has 64 BTC
In the top 0.16% the average person has 256 BTC
In the top 0.032% the average person has 1024 BTC

etcetera. Note that this is these are averages so the lower bound to be in a echelon is lower. So with 21 BTC you are likely still in the top 1-2%.

Also note that this is with ONLY 21M Bitcoin holders. There will likely be many, many more

MakeBelieve

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Quote from: BurtW on November 12, 2013, 12:25:32 PM

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

Prove this or delete it.

Yeah can we have a explanation with some proof please?

BurtW

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Activity: 2646

Merit: 1136

All paid signature campaigns should be banned.

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

Prove this or delete it.

xan_The_Dragon

sr. member

Activity: 322

Merit: 250

I AM A DRAGON

Quote from: Loki8 on November 12, 2013, 12:19:21 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

i doubt this

Loki8

full member

Activity: 146

Merit: 100

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

99% of the world's wealth is owned by 1% of people.

99% of the bitcoin's wealth is owned by 1% of bitcoiners.

wachtwoord

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Activity: 2324

Merit: 1125

Quote from: simplydt on November 12, 2013, 12:08:59 PM

Quote from: wachtwoord on November 12, 2013, 12:04:14 PM

Quote from: simplydt on November 12, 2013, 12:02:26 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

These things have been posted many times when the price was lower than $10.

Fair enough, unfortunately I wasnt here to read these words of wisdom.

Why does important crap like this never get to my Facebook page, instead I get pictures of lol catz and dogs... wtf?!?

Buy what you can now and don't dwell on the past. Buy 21 BTC and have 1-millionth of the all Bitcoins that will ever be created. Or if you're poorer buy 2.1 and have 1-tenmillionth. Having 1-tenmillionth of gold is still ~1000 troy ounces or $1.28M. Not too shabby aye? Wink

notme

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Quote from: simplydt on November 12, 2013, 12:08:59 PM

Quote from: wachtwoord on November 12, 2013, 12:04:14 PM

Quote from: simplydt on November 12, 2013, 12:02:26 PM

Quote from: Rival on November 12, 2013, 11:59:20 AM

If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

Think about that for a moment, and then think about how many have been lost forever already.

You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

These things have been posted many times when the price was lower than $10.

Fair enough, unfortunately I wasnt here to read these words of wisdom.

Why does important crap like this never get to my Facebook page, instead I get pictures of lol catz and dogs... wtf?!?

Take a long hard look at who you call "friends" Wink

Rygon

hero member

Activity: 520

Merit: 500

If you want to feel even better about owning 100 coins, look at the Pareto distribution for wealth. If there are millions of people with Bitcoins, an individual with 100 BTC is somewhere in the top 1%.

wobber

legendary

Activity: 1064

Merit: 1001

Rival, let's hijack your thread and make a poll. I am very curious how many people have 5,10,50,100 or more BTC.

Topic: If you have 100 btc... - page 2. (Read 5045 times)