Less than 1 in 7000 people in the world own at least 0.01 BTC!

okthen

hero member

Activity: 490

Merit: 500

Quote from: tondaS on July 16, 2014, 05:31:58 PM

Quote from: giveBTCpls on July 16, 2014, 05:13:43 PM

Quote from: Ibian on July 15, 2014, 05:46:22 PM

Quote from: UnDerDoG81 on July 15, 2014, 04:50:14 PM

The bigger problem is that 1% holds 99% of all BTC so they have too much power. Its the same like with FIAT.

This is not a problem.

How it isn't? If they have the same evil intentions as the big FIAT holders of today, we are still screwed. Of course they couldn't (in principle) modify the way Bitcoin works, or could they? (by bribing the developers or whatever). There's also the posibility that big FIAT holders with evil intentions bribe the big BTC stakeholders for more FIAT, power, influence etc.

Still a lot of Bitcoins has to be mined so the wealth will be spread more evenly with time. And some early adopters big address balances are very likely lost, so cant be used anymore...

The number of bitcoins mined is totally irrelevant to how wealth is spread.
Don't think it will change much from where we're now, just the number of total users will be much higher.

tondaS

full member

Activity: 122

Merit: 100

Quote from: giveBTCpls on July 16, 2014, 05:13:43 PM

Quote from: Ibian on July 15, 2014, 05:46:22 PM

Quote from: UnDerDoG81 on July 15, 2014, 04:50:14 PM

The bigger problem is that 1% holds 99% of all BTC so they have too much power. Its the same like with FIAT.

This is not a problem.

How it isn't? If they have the same evil intentions as the big FIAT holders of today, we are still screwed. Of course they couldn't (in principle) modify the way Bitcoin works, or could they? (by bribing the developers or whatever). There's also the posibility that big FIAT holders with evil intentions bribe the big BTC stakeholders for more FIAT, power, influence etc.

Still a lot of Bitcoins has to be mined so the wealth will be spread more evenly with time. And some early adopters big address balances are very likely lost, so cant be used anymore...

giveBTCpls

sr. member

Activity: 322

Merit: 250

Quote from: Ibian on July 15, 2014, 05:46:22 PM

Quote from: UnDerDoG81 on July 15, 2014, 04:50:14 PM

The bigger problem is that 1% holds 99% of all BTC so they have too much power. Its the same like with FIAT.

This is not a problem.

How it isn't? If they have the same evil intentions as the big FIAT holders of today, we are still screwed. Of course they couldn't (in principle) modify the way Bitcoin works, or could they? (by bribing the developers or whatever). There's also the posibility that big FIAT holders with evil intentions bribe the big BTC stakeholders for more FIAT, power, influence etc.

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: Ed4252 on July 15, 2014, 11:28:56 PM

Quote from: keithers on July 15, 2014, 10:42:12 PM

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

Where did you get those numbers from? IMO there is no way that 75% of the world has cell phones... Or do you mean that 75% of the world has the ability to buy a cell phone (if they can afford it)?

http://www.rferl.org/content/report-says-75-percent-of-worlds-population-have-mobile-phones/24648234.html
http://mashable.com/2012/07/17/mobile-phones-worldwide/
http://en.wikipedia.org/wiki/List_of_countries_by_number_of_mobile_phones_in_use

The wikipedia says that worldwide there are 97 active phones per every 100 citizens, some countries even have more than 100 per every 100 persons like hong kong with 236 phones for every 100 persons. So that statistic of 75 percent is really low.

Ed4252

full member

Activity: 204

Merit: 100

Quote from: keithers on July 15, 2014, 10:42:12 PM

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

Where did you get those numbers from? IMO there is no way that 75% of the world has cell phones... Or do you mean that 75% of the world has the ability to buy a cell phone (if they can afford it)?

http://www.rferl.org/content/report-says-75-percent-of-worlds-population-have-mobile-phones/24648234.html
http://mashable.com/2012/07/17/mobile-phones-worldwide/
http://en.wikipedia.org/wiki/List_of_countries_by_number_of_mobile_phones_in_use

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

Where did you get those numbers from? IMO there is no way that 75% of the world has cell phones... Or do you mean that 75% of the world has the ability to buy a cell phone (if they can afford it)?

Ed4252

full member

Activity: 204

Merit: 100

Quote from: Benjig on July 15, 2014, 01:52:31 PM

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

So 30% of 7,100,000,000 is around 2,100,000,000 so 1,000,000 wallets is still a little compared to people who dont use it. plenty room to grow.

Forgot to add young children most likely won't be using bitcoins

Malin Keshar

hero member

Activity: 616

Merit: 500

Quote from: MoreFun on July 14, 2014, 03:46:35 PM

Quote from: silversmith on July 14, 2014, 03:43:50 PM

Less than 1 in 7000 people in the world own at least 0.01 BTC(~$6 USD). Many people own more than one wallet with more than 0.01 BTC so this number is probably much higher.

Many people has more than 0.01 on exchanges or vaults so this number is probably lower. Tongue

On the other hand, many people has more than one address with more than 0.01, so the number can be this, lower, or greater and we have no way to know.

Ibian

legendary

Activity: 2268

Merit: 1278

Quote from: UnDerDoG81 on July 15, 2014, 04:50:14 PM

The bigger problem is that 1% holds 99% of all BTC so they have too much power. Its the same like with FIAT.

This is not a problem.

UnDerDoG81

legendary

Activity: 2179

Merit: 1201

The bigger problem is that 1% holds 99% of all BTC so they have too much power. Its the same like with FIAT.

scryptasicminer

full member

Activity: 213

Merit: 100

Quote from: yayayo on July 14, 2014, 04:09:27 PM

I think half of the world population will never have access to bitcoin.

But yes, there is a lot more room to grow. But that's no one-way street. Bitcoin still is beta software. Anything can happen.

ya.ya.yo!

A lot of room to grow, yes. It could also mean bitcoin will not be relevant for most of the population out there.

bigasic

hero member

Activity: 924

Merit: 1000

a couple years ago, I was talking to a company about investing in gold, they sell precious metals. I brought up my interest in bitcoin and that I was a miner, etc. He nor his associates ever heard of bitcoin at the time. This was when btc was sub 8 dollars. I told him that it would be a wise investment to at least pick up a few and he said he would but never did. Since bitcoin has got a lot of exposure he calls me every once in a while to get my opinion and to pick my brain. the last time I called, I had to remind him about the missed opportunity but its not too late..

I think if we were to explain that the btc price is still low and good buy it will gain some momentum. But, the more people hear about it the more people will buy it. Its incredibly easy to buy with bitcoin, no worries about your credit card getting stolen and its just so damned easy to pay with btc. once that starts to catch on, there will be a lot more than 1 in 7000 will own more than .01btc.

wingsfan23

newbie

Activity: 32

Merit: 0

Quote from: Ed4252 on July 15, 2014, 01:47:42 PM

Quote from: wingsfan23 on July 15, 2014, 01:40:36 PM

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

They don't need internet access, there are systems that can transfer bitcoin via txt message.

for online retail stores

bitcoin isn't gonna grow if people aren't using that

Cell phone minutes (airtime) and MPESA are already being traded peer-to-peer in many African countries with limited internet access. Online retail use is only one piece of the puzzle, it isn't necessary for adoption.

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

So 30% of 7,100,000,000 is around 2,100,000,000 so 1,000,000 wallets is still a little compared to people who dont use it. plenty room to grow.

Ed4252

full member

Activity: 204

Merit: 100

Quote from: wingsfan23 on July 15, 2014, 01:40:36 PM

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

They don't need internet access, there are systems that can transfer bitcoin via txt message.

for online retail stores

bitcoin isn't gonna grow if people aren't using that

wingsfan23

newbie

Activity: 32

Merit: 0

Quote from: Ed4252 on July 15, 2014, 01:30:16 PM

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

They don't need internet access, there are systems that can transfer bitcoin via txt message.

Ed4252

full member

Activity: 204

Merit: 100

hmm?

75% of the world have cell phones
around 40% of the world have internet access

30% of the world have both

There actually isn't THAT much room to grow as it seems..

Benjig

sr. member

Activity: 462

Merit: 250

Quote from: BitchicksHusband on July 14, 2014, 05:40:52 PM

rpietila has done a lot of research on this. The numbers have been checked several ways so I think it's about as accurate as we are going to get.

https://bitcointalksearch.org/topic/distribution-of-bitcoin-wealth-by-owner-316297

According to his work, 91.08% of bitcoin holders have .01 or more.

So according to that statistic , the majority of bitcoin holders 340k has between 0.1 and 1 bitcoin.

bitbaby

hero member

Activity: 812

Merit: 1000

You're comparing the wallets to the world population, that's just wrong right there, you should first narrow it down to how many people have access to Internet and then how many of those know about bitcoin.

navigator

sr. member

Activity: 362

Merit: 250

Check out the top of this page
http://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Topic: Less than 1 in 7000 people in the world own at least 0.01 BTC! (Read 4465 times)