Increasing Number, Who Own 1 bitcoin - page 5.

FlightyPouch

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Quote from: bounceback on January 23, 2020, 08:03:35 AM

Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

What is your opinion about this? How does it affect bitcoin?

it may be true that investors buy some bitcoins in preparation for the half-day waiting period, as everyone and investors strongly believe that by reducing the half they will have a huge profit if bitcoin prices rise at that time. with more bitcoin enthusiasts, then I hope bitcoin prices will go up as well.

Well, the sad part here is that these investors do not want to use bitcoin, they just want it to be saved so they can earn a good profit in the future. If those people want to buy bitcoin because they want to use it, that would be the case when the price will quickly rise. Right now, they just save it, hold it in their wallets so they can earn profit in the long run.

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Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

What is your opinion about this? How does it affect bitcoin?

it may be true that investors buy some bitcoins in preparation for the half-day waiting period, as everyone and investors strongly believe that by reducing the half they will have a huge profit if bitcoin prices rise at that time. with more bitcoin enthusiasts, then I hope bitcoin prices will go up as well.

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Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

it depends on the person’s use of bitcoin, for example:

If people want to use bitcoin as a currency to make payments for goods and services these people will not be worried about owning 1 bitcoin, but people who are focused on Hold are very concerned about having too many bitcoins to hold for a long time.

Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

How does it affect bitcoin?

I constantly wonder if everyone in the world buys 1 bitcoin and hold for many years what would the market be like? is that a good idea? or the best option is to actually start using bitcoin to buy goods and services?

MURONDI

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that's a good sign, bitcoin will be stronger if more people hold it than it is controlled by a handful of people, in my opinion getting 1 btc is not too difficult for those who have skills, I am sure in this forum many people can get btc easily, the difficult thing is to hold it for a long time.

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So far as news about bitcoin keeps on hitting the main stream and the entire world this trend is likely going to increase as people use bitcoin as a store of value. I used to hold quite a number of coins back in the days but i had to sell and use the funds to help some family emergencies that cropped up some years ago. since then i have never been able to purchase a whole bitcoin because it's quite expensive now. Got my buy order at $5K, hopefully i can get to own one when it reaches this level again.

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You will see many people who will own more than 1 bitcoin when the bull run is coming because at that time, many people will make a lot of money in bitcoin, and that means the number for people who own 1 bitcoin will be changed. I think that happened before in 2017-2018 because, in that year, many of us can make a big number of bitcoin, and they sell their bitcoin in fiat money. After that, they are waiting for the last year when the price is drop down too far to buy a huge bitcoin number at a low price.

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Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

For me, this is great news since bitcoin is influencing a lot of users, as the number increases meaning the community is already getting bigger surely when a lot of people invested in bitcoin it could easily increases the market price of the bitcoin because of the supply and demand thing.

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

What is your opinion about this? How does it affect bitcoin?

With the passage of time and as we approach the halving, the bitcoin price will continue to increase. Only the time will tell that near or after the halving you might say that it is not even easy to earn 0.1 Bitcoin due to the increase in the price. People are holding and preparing for the next bull market run soon after the halving.

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Quote from: cryptoaddictchie on January 23, 2020, 12:55:56 AM

Quote from: Little Mouse on January 23, 2020, 12:09:01 AM

I really don't know why people always try to relate bitcoin with earn. Is it because the forum has a good earning system?

It is subtle word of saying to "acquire". Bitcoin indeed is valuable digital currency and owning a bit of it out of 18.16 million circulating supply (CMC stat) is a huge achievement concerning that it could go higher value if demands really that huge.

Thanks OP for this information. It's indeed a good news that many still believe in Bitcoin at all in spite of its volatility.

The crypto market is based on this volatility, because the profit comes from the volatility of the crypto currency. It is precisely the volatility of the BTC that makes people invest, because they expect earnings.
Why do BTC people associate with winning? Maybe because that's the main purpose of an investment, to make a profit.

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Quote from: bitbunnny on January 23, 2020, 02:10:50 AM

Quote from: iram3130 on January 23, 2020, 01:01:23 AM

I think its a good sign and as long as new people are coming into the crypto community. If there is a world where we can imagine of no one having more than 10 BTC then we may say that we have achieved a mass adoption and then we will see the age of Buy/sell through Bitcoin. We need more people into this right now and volume is increasing which is again a great sign near to the halving.

We are still very far away from mass adoption and these figures who owes one or more Bitcoin don't mean anything.
If you look the overall number of population and percentage of them that is using Bitcoin this is a such a small number. Estimations go around 2 millions people in the world, that is actually the figure that is not worth mentioning in the context of mass adoption.

That's right, it's not feasible yet and we must remember that bitcoin is a world currency and that uses the whole world and still requires a very large amount to be adopted and that is only the growth of users or bitcoin owners who are still in small amounts.
and if there are only around 2 million people in the world, and when compared to the number of people in the whole world it is very far away.

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Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

What is your opinion about this? How does it affect bitcoin?

If you are a bounty hunter, it is obviously very difficult to get 1 Bitcoin, but that does not apply to people who have played bounty in 2015 until 2017 during that time they easily collect 1 BTC from each project, when compared to this year it is very difficult to get 1 BTC is free and you have to buy it if you want to hold it of course with expensive fees because of the high price, the increase of bitcoin holders doesn't mean to show numbers on adoption, but from here we also see that investors don't want to die with their wealth in bitcoin so they will continue invest in bitcoin and keep buying it until the price is high

bitbunnny

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Quote from: iram3130 on January 23, 2020, 01:01:23 AM

I think its a good sign and as long as new people are coming into the crypto community. If there is a world where we can imagine of no one having more than 10 BTC then we may say that we have achieved a mass adoption and then we will see the age of Buy/sell through Bitcoin. We need more people into this right now and volume is increasing which is again a great sign near to the halving.

We are still very far away from mass adoption and these figures who owes one or more Bitcoin don't mean anything.
If you look the overall number of population and percentage of them that is using Bitcoin this is a such a small number. Estimations go around 2 millions people in the world, that is actually the figure that is not worth mentioning in the context of mass adoption.

bitvalak

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Yes, that is good, meaning there has been an increase from previous years. In the future, there will be potentially even more demanding of bitcoin, which means that the more users there are, the stronger it will be to survive the long term. For now getting 1 bitcoin is not easy, unless you have enough funds to buy it. But the thing to remember is do not ever expect to get 1 bitcoin here in an instant way.

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For early adopters it was easy to get more than 1 bitcoin doing small work or giving service for bitcoin. There were many bounty hunters who have promoted ICO during crypto boom and have made more than a bitcoin for free.

Most of the early investors and developers still have massive bitcoin holdings which is not good for mass adoption and price growth.

Owning one bitcoin might seems really exciting but if you are small investor you will always have a fear of lossing too much during massive dump and if you try to time the market you will end up lossing more.

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This stat isn't really that useful, as an address with one Bitcoin doesn't mean that it's owned by one person, and vice versa. I have more than 1 BTC, but I never had one or more BTC in one address - I consolidate my funds, but not too much, since it's bad for privacy and doesn't make my save on fees past certain point, as I don't plan to send such huge amounts in one transaction.

Maybe these addresses with > 1 BTC are just a result of consolidation done by exchanges or hodlers, I don't doubt that the number of Bitcoin owners is growing, but this is a poor way to determine by how much it has increased.

Reid

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It is a still a low number.

That just means millions of bitcoin is still being hoarded by a small group.
We really need to take it out from them.
It must really be divided to many so that there will no thoughts of manipulation.

We all know there is that thought with the mass about that. They don't want to get in because they still think someone is still behind all of this.

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Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

What is your opinion about this? How does it affect bitcoin?

Well its tough, but if you are a smart investor, this is going to be easy, even casual or average joe's like us can earn 1 BTC. The problem is that many newbie investors think that it is hard because they are thinking of putting all their money just to get in that 1 in 21 club. You can simply invest .01 BTC per month and in 10 months you can save/invest 1 full BTC already. Of course it will definitely have a impact on the price later, as demand will be scarce that will eventually push the price, maybe a new all time high in the next 2-3 years.

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Quote from: Little Mouse on January 23, 2020, 12:09:01 AM

This is sign of holding which is good for the bitcoin price I think. The more 1 bitcoin holder increase, it will create scare and the price will be higher because we have limited bitcoin all time.

Agreed, I've always said that the market will determine bitcoin's real utility - as a currency or as an investment. It feels like bitcoin's best use is still as an investment. And this is fine, especially since there are so many other cryptocurrencies that could serve as a currency, best use for transaction due to its stable and modest value.

To the OP, statistics that you've cited are challenging to infer specific influences or conclusions from, particularly because it's so easy to create a bitcoin wallet, by anyone! So the increase in BTC wallets with at least 1 BTC could simply be an indication that "whales" are spreading their wealth around among multiple wallets so if any one wallet gets compromised they won't lose as much coin.

This could also mean that in the last 5 years it's been possible for people to acquire more Bitcoin...a good, but not alarming statistic at only 11% annually (or in the last year).

Listen, they're all positive signs...just tough to declare a single conclusion.

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I think its a good sign and as long as new people are coming into the crypto community. If there is a world where we can imagine of no one having more than 10 BTC then we may say that we have achieved a mass adoption and then we will see the age of Buy/sell through Bitcoin. We need more people into this right now and volume is increasing which is again a great sign near to the halving.

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Quote from: Little Mouse on January 23, 2020, 12:09:01 AM

I really don't know why people always try to relate bitcoin with earn. Is it because the forum has a good earning system?

It is subtle word of saying to "acquire". Bitcoin indeed is valuable digital currency and owning a bit of it out of 18.16 million circulating supply (CMC stat) is a huge achievement concerning that it could go higher value if demands really that huge.

Thanks OP for this information. It's indeed a good news that many still believe in Bitcoin at all in spite of its volatility.

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Quote from: Coin_trader on January 23, 2020, 12:19:32 AM

I rather want to see that there is no single wallet holding greater or equal to1BTC so that we can say that we are really approaching mass adoption which the BTC main objective.

Well seeing no single wallet exceeding 1 bitcoin is impossible since there are tons of whales that hold thousands if not hundreds of bitcoin.

Quote from: Asuspawer09 on January 22, 2020, 08:46:56 PM

In my experience, it is not easy to earn 1 bitcoin so I think most of them are investors.

It is indeed not easy to earn 1 bitcoin if you are not willing to invest some money in and you want all free money from bitcoin especially if you will be dependant on faucets and some sites that giveaway bitcoin. But being an investor specially a big one 1 bitcoin will just a piece of cake to you.

Topic: Increasing Number, Who Own 1 bitcoin - page 5. (Read 1582 times)