Quote from: rpietila on November 29, 2013, 07:59:26 AM

Quote from: wachtwoord on November 27, 2013, 10:47:56 AM

So, in effect, you are advocating everyone to sell everything they own above 50,000 mBTC Wink

Yes, most can do with 500mBTC very well

No srsly, I added the very highest levels below, so that you can see that they are available. In the former world order (including your article), there is no "100+ billion USD" level, as you can see: it unmathematically mysteriously disappears from all lists and charts. This shows that the level should host about 30 people.

* top 30 would have BTC5,000 or more (100 billion USD)
* top 300 would have BTC500 or more (10 billion USD)
* top 3,000 would have BTC50 or more (1 billion USD)

Quote from: rpietila on November 26, 2013, 07:34:10 PM

* 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.

Notable is the size of BTC as the "basic" unit. It is a large unit, only applicable in displaying the total wealth of people who used to be called billionaires.

Here's the problem.

Anyone currently holding more than 5 BTC or so will decide to sell the excess when the proceeds (in dollars) from those excess coins will bring them financial security, since they can simply hold the remainder for the event in which BTC goes on to completely displace fiat.

This means we will see early adopters cashing out to the tune of trillions before any serious change-over will occur, and that means people must be convinced to put trillions of dollars into Bitcoin to actually propel it to worldwide adoption.

The people who will cash out first are those with thousands of BTC, since they can already buy total financial security in fiat and still have plenty of coins left over. Then those with hundreds... then you, the reader, who probably has less than 100.

Do you think the market can pay those trillions of dollars to the individuals with more coins with you? I think we're sitting on a time bomb here. The marginal utility of that first million is too great. 100k people times 1 million dollars equals oh fuck.