Where is your bitcoin balance at the end of the year? - page 2.

stompix

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Quote from: Kryptowerk on December 29, 2022, 09:21:41 AM

What stands out to me, looking at these statistics is the fact that 85% of all value stored in Bitcoin is distributed among only 0.5% of addresses / owners.
That's an extreme imbalance of wealth. Nothing new or suprising but I think it's worth pointing out.

Because that's how everything works in reality and not in some socialist utopia some still dream about it even with crypto?
It's pretty simple, those who had thousands of dollars around with no other investment opportunities had a chance to buy tens of Bitcoins, and the poorest of the poor who can't even afford a smartphone will barely be able to count the satoshi they own in tens and hundred.

What makes it even more interesting is that while with fiat you could try and force a redistribution of wealth by just axing account balances, with Bitcoin is nearly impossible, my keys, my coins nothing you can do about it!

Welsh

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Quote from: mk4 on December 30, 2022, 11:53:11 AM

Why is it worth pointing out if it's expected though. Not to mention that bitcoin wasn't specifically created to fix wealth inequality, but to just give more opportunities to people who seek it.

Right, wealth inequality is actually a very difficult problem to solve, and I'm not even sure if it's possible. We are humans, with different mindsets, and ideologies. Therefore, convincing the masses that everyone should be equal, would be rather difficult. As you rightly point out; Bitcoin was never going to solve it, and it certainly wasn't created to solve it. halvings help distribute the wealth; however ultimately those that can afford to mine, are already wealthy. We've already hit the point where you need some sort of skill or existing wealth to profit off the volatility that Bitcoin brings.

Yatsan

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Quote from: BlackHatCoiner on December 30, 2022, 12:09:15 PM

Get rid of that cancer exchange before 2023. Do self-custody, it isn't that hard. Are you seriously thinking it's more likely somebody steals your seed phrase than having Binance either bankrupt or hacked, considering that history is full of exchange bankrupts and hacks? If I were you, I'd sell all of it, get fiat in my bank account, delete Binance, and then buy the 0.1 BTC anonymously.

Well, binance is a good exchanger and what happened won't make it certain of the same outcome as what happened recently. But that's just right; an investor should be responsible of his/her funds and storing it to an exchanger is not a good thing to do. But that's just it; nothing more and nothing less. We are all free to use reputable exchangers as long as they function as one of their kind. No need for total abandonment I guess because that will just be a discriminative take, and those who are doing good will be as well taking the damage of other project's fault.

Going back with OP's question, I'am always saving my funds on my personall crypro wallet especially for long term purposes. I am also guilty of sometimes forgetting that I have funds in exchangers but I'd cope up with it afterwards.

Adbitco

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Talking about our balance is a private matter which I may not want to relate or disclose with anyone or possibly any of the reputable member would like to reveal to people about their balance. So i don't think this is very serious issues we should handle here rather people will flood this thread with spam post.
Move this thread to offtopic or i request admin for the locked of this thread as nothing meaningful to discuss over here.

BlackHatCoiner

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Farewell, Leo

Get rid of that cancer exchange before 2023. Do self-custody, it isn't that hard. Are you seriously thinking it's more likely somebody steals your seed phrase than having Binance either bankrupt or hacked, considering that history is full of exchange bankrupts and hacks? If I were you, I'd sell all of it, get fiat in my bank account, delete Binance, and then buy the 0.1 BTC anonymously.

mk4

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Quote from: Kryptowerk on December 29, 2022, 09:21:41 AM

What stands out to me, looking at these statistics is the fact that 85% of all value stored in Bitcoin is distributed among only 0.5% of addresses / owners.
That's an extreme imbalance of wealth. Nothing new or suprising but I think it's worth pointing out.

Why is it worth pointing out if it's expected though. Not to mention that bitcoin wasn't specifically created to fix wealth inequality, but to just give more opportunities to people who seek it.

Also, take note that a sizeable amount of people store funds on exchanges(Coinbase/Binance), so the stats isn't that accurate if you're looking at it as distribution per person than per wallet address.

pawanjain

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Quote from: LDL on December 29, 2022, 03:57:28 AM

Bitcoin is about to end this year's journey through several hostile markets. Many have invested in Bitcoin this year and many have sold Bitcoin. Anyway, who has a balance at the end of the year? My balance is in this range (0.01-0.1) and there are 5438179 total addresses in this range. What number position is your wallet in?

Screenshot from: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

I don't think a wise bitcoiner would publicly announce the range of bitcoin balance he is holding.
It is a risk since you could be contacted by scammers or someone might track you.
So it is best not to make such threads at first place and secondly not to announce or disclose your holdings publicly.

Iranus

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Quote from: Jatiluhung on December 29, 2022, 09:29:09 AM

The balance I have is not much different from what you have OP. I'm still waiting for the lower price to accumulate back to fulfill it. However, many say that in 2023 there will likely be a mini bull. I don't know if that will actually happen or not. but I hope there will be at least one more reduction so that my purchase entry is fulfilled at the end of this year.

Maybe your prediction is correct, or everyone's prediction will be right, no one can predict bitcoin, instead of waiting, I think you can use DCA because waiting is not a wise solution. I predict like you, bitcoin will fall even further in 2023, but that is just a prediction, and there is no guarantee that will happen. That's why I always buy bitcoin whenever I have money, as long as bitcoin's price is still lower than the old ATH, I will be ready to buy without thinking too much. Bitcoin hasn't bottomed yet, but we can say we are near the bottom.

buwaytress

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Quote from: Kryptowerk on December 29, 2022, 09:21:41 AM

Anyone with slitghly higher balances than 0.01 should probably restrain themselves from publicly disclosing anything about it.

What stands out to me, looking at these statistics is the fact that 85% of all value stored in Bitcoin is distributed among only 0.5% of addresses / owners.
That's an extreme imbalance of wealth. Nothing new or suprising but I think it's worth pointing out.

Really, anyone who has $170 worth of money shouldn't disclose so? You can tell a person's minimum salary from their country. But yeah I get your point of course, just don't discuss anything of value unless necessary, of course. You don't flash your wealth unless you don't mind being a target. Doesn't apply just to Bitcoin.

It's an imbalance, the distribution, but that's only natural. Worth noting it's the most distributed wealth among crypto of value.

Rigon

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Quote from: Nrcewker on December 29, 2022, 04:32:47 AM

Quote from: LDL on December 29, 2022, 03:57:28 AM

My balance (BTC)

I guess many of us won’t be comfortable enough to share their balance details here in the forum. I mean it’s completely a user’s choice and there’s decision. Moreover OP I can see that you have your balance in an exchange, probably Binance. So let me tell you my friend that this is not safe at all. You didn’t aware what happened with FTX ? So as long as you have your balance in an exchange, you don’t own it completely. So move the BTC in any hardware wallet or paper wallet.

OP gave you honest advice. The amount of money you have invested in Binance account is not safe at all. You put all your money in there using a hardware wallet as soon as possible. But you see FTX went bankrupt a few days ago. To avoid such losses you withdraw your money as soon as possible. Hope you understand all the advice.

_act_

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Lightning network is good with small amount of BTC

Quote from: tranthidung on December 29, 2022, 08:34:52 AM

Holding bitcoins through a single year might not be enough to have profit. It should be years.

What if I bought bitcoin 2020 at $5000 and sold it in 2021 for $50000? Is that not enough? It is good to hold the coin for a long time just like microstrategy CEO said, but if the price is well speculated, even 6 months can be enough to have profitable investment. I like people that can buy bitcoin and hold it for years, I like those people that can hold it for lifetime. If someone buy bitcoin at a high price, those kind of people can be adviced to hold it for years to be able to profit from it.

Diuyen Kim

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The balance is in my wallet, albeit very little. I didn't think about selling, or even buying some more. I look forward to next year.

salad daging

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Quote from: mk4 on December 29, 2022, 04:55:00 AM

Quote from: ?? on ??

It is very true that if I do not own the private key/passphrase of my wallet then the balance or assets are not considered mine. Unfortunately I have cryptocurrency stored on my Binance exchange and so far I have not used the hardware wallet. But I have made a personal decision to hold my dollars in hardware wallets for years to come.

Don't be lazy and just purchase a hardware wallet as soon as possible. Though the rumours of Binance being insolvent is very likely to be false, do you really want to risk all of your funds? I'm sorry but that's just dumb and lazy.

I would rather lose $69 dollars to buy a hardware wallet (Trezor Model One) than to lose $1800 which is not completely in our control, still the exchange has full control over our assets why OP is not worried about it, just a suggestion will make an asset saver for OPs.

Withdraw about $69 more buying a Trezor and keeping it there will be much safer.

https://trezor.io/trezor-model-one

Jatiluhung

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The balance I have is not much different from what you have OP. I'm still waiting for the lower price to accumulate back to fulfill it. However, many say that in 2023 there will likely be a mini bull. I don't know if that will actually happen or not. but I hope there will be at least one more reduction so that my purchase entry is fulfilled at the end of this year.

Kryptowerk

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Disobey.

Quote from: LDL on December 29, 2022, 03:57:28 AM

Bitcoin is about to end this year's journey through several hostile markets. Many have invested in Bitcoin this year and many have sold Bitcoin. Anyway, who has a balance at the end of the year? My balance is in this range (0.01-0.1) and there are 5438179 total addresses in this range. What number position is your wallet in?

Screenshot from: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Anyone with slitghly higher balances than 0.01 should probably restrain themselves from publicly disclosing anything about it.

What stands out to me, looking at these statistics is the fact that 85% of all value stored in Bitcoin is distributed among only 0.5% of addresses / owners.
That's an extreme imbalance of wealth. Nothing new or suprising but I think it's worth pointing out.

CryptoBuds

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HODL

Quote from: $crypto$ on December 29, 2022, 07:46:47 AM

Quote from: Beparanf on December 29, 2022, 05:22:58 AM

If I store all my Bitcoin on a single wallet then I currently have >0.1BTC in my total balance. I don't want to mention the exact amount for privacy purposes but I’m on 0.1-1BTC range so far after I purchased last Christmas from the bonus that I get on my salary.

I’m planning to add more after new year when I received my converted unused vacation and sick leave from my work. I hope Bitcoin will dip a little bit more below 15K level for me to have a solid buy next year.

True this is my privacy regarding the balance held but we still have enough to keep bitcoin continuously and maybe at the beginning of the year is the best way to buy bitcoin at a low price of $16.6k I believe it is still holding.

I also plan not to take a vacation this year except for just hanging out with my family, and with what I currently have, I think it will be right to continue to accumulate bitcoins gradually.
Same, I also deposit in several wallets but not the exact exchange.

This year, my economy is not too difficult, but I have actively cut back on spending, including my children's snacks, not all but part of it. This year we are facing a crisis, and more coincidentally, bear season is also happening. It can be said that this is a rare opportunity, and it will take a long time to repeat if we ignore it from now on, so I am actively focusing on this year, and next year will accumulate more bitcoins and some other assets.

I don't want to share my bitcoin holdings, but I haven't stopped yet and will continue to accumulate more in the new year.

hitsnorth

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I have 0.001-0.01 BTC too. I hope I'll get at least 0.1 this year, the price looks reasonable to do that.

tranthidung

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Farewell o_e_l_e_o

Holding bitcoins through a single year might not be enough to have profit. It should be years.

Hodlcamp ^[1] represents Bitcoin entry/ exit profitability and suggests to hold bitcoins about 5 years and 21 days.
Casebitcoin ^[2] shows a table for Bitcoin & Traditional Assets ROI (vs USD). It should be more than 3-years holding to have good profit.
Interesting with Bitcoin Price & ROI on this Date^[3] which shows that holding bitcoins more than 5 years will give you very good profit.

[1] https://hodl.camp/
[2] https://casebitcoin.com/charts
[3] https://casebitcoin.com/charts

indah rezqi

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No, I won't tell you how much I have. This is one of the privacy that every bitcoin holder should have, and this is also what I learned from bitcoin. I think all forum users have a balance in their wallet regardless of the amount, but they shouldn't tell anyone about the balance.

I just think people are starting must to really care about their financial privacy better. They should not tell anyone online or offline about their balance, it will help them protect themselves from various physical threats and also the risk of hacking. So you must be responsible for protecting your own financial privacy, it is very important for security.

$crypto$

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Smart is not enough, there must be skills

Quote from: Beparanf on December 29, 2022, 05:22:58 AM

If I store all my Bitcoin on a single wallet then I currently have >0.1BTC in my total balance. I don't want to mention the exact amount for privacy purposes but I’m on 0.1-1BTC range so far after I purchased last Christmas from the bonus that I get on my salary.

I’m planning to add more after new year when I received my converted unused vacation and sick leave from my work. I hope Bitcoin will dip a little bit more below 15K level for me to have a solid buy next year.

True this is my privacy regarding the balance held but we still have enough to keep bitcoin continuously and maybe at the beginning of the year is the best way to buy bitcoin at a low price of $16.6k I believe it is still holding.

I also plan not to take a vacation this year except for just hanging out with my family, and with what I currently have, I think it will be right to continue to accumulate bitcoins gradually.
Same, I also deposit in several wallets but not the exact exchange.

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