Post
Topic
Board Economics
Re: Distribution of bitcoin wealth by owner
by
AnonyMint
on 27/11/2013, 03:32:57 UTC
Let us assume that Bitcoin has completely taken over as a currency, and is now used worldwide. Because the emergence of Bitcoin has made commerce boom, the world GDP has grown such that bitcoins alone account for as much value as the physical and financial world did in 2012.

The world uses other methods for everyday payments. Bitcoins themselves are used for large transactions only and a measured in units of mBTC. The wealth is distributed in a similar way as in the article, but to quite different people.


In this order,
* the top 29,000 people would have 5,000mBTC or more, a huge fortune comparable to 100 million of today's dollars.
* the top 1 million people would have 500mBTC or more, corresponding to 10 million or more dollars
* 29 million people have at least 50mBTC, which puts them among the most affluent 0.6%, previously called 'millionaires'
* the upper middle class of 350 million people worldwide, owns 5mBTC or more
* lower middle class consists of 1 billion people is characterized by ownership of 0.5mBTC or more
* the lower class of (3+ billion) owns less than 0.5mBTC including people who don't have any or have negative worth.


Even if you find it hard to believe the dollar part, the number of bitcoins existing is still constant, and will likely be distributed quite exactly according to the table above, when the initial distribution period is completed and bitcoins are used everywhere.

I have disagreed as to whether this distribution can be attained at the postulated high level of share of world wealth.