Post
Topic
Board Bitcoin Discussion
Re: 0.28 bitcoin to be in the 1% of richest bitcoin holder
by
stompix
on 21/02/2020, 21:34:16 UTC
As of Jan. 14 we already have 784,000address that owns 1 bitcoin or more. The number is already had an 11% increase from 707,000 that is recorded a year ago. In 2015 has more than doubled. Most of the addresses came from exchanges and big player "whales" that usually hold a big amount of bitcoin.

You realize that a year ago we had 657 000 fewer bitcoins in circulation, right?
It is normal for all the addresses holding more than 1 or more than 10 or 0.1 to grow in number since we have more bitcoins that must be distributed somehow.
But this trend will become slower as the halving is coming and the numbers of bitcoins added will shrink each year.

That's insane. This shows how much of a value Bitcoin is starting to become. To me it's not very different to telling me "1oz of gold to be in the 1% of the richest gold owners", because I've always considered Bitcoin a cheap commodity for what it is capable to do.

Well, actually it doesn't say that and nothing has changed from the beginning of bitcoin in 2009 since the OP has made the calculation based on the entire supply /world population.
With 0.28 BTC you are going to be in the 1% richest bitcoin holders, but nothing more, just as it takes only 1 LTC to be in the top 1% LTC rich list, but nobody is saying this will make you part of the 1% richest men in the world by all metrics.


I don't know if they're basing it on this rather rudimentary equation or not, but it seems to be an odd coincidence if not:
21 million BTC / Global population of ~7.5 billion = .0028 BTC
1 is two decimal places away from 100, so move the decimal place by two... ?

It's 21 000 000  / 75 000 000 (1% of the population) > 0.28
Basically the minimum required if all the bitcoins would be split to only 1% of the population.
Mathematically correct, with 0.28 you can't be outside the 1% but in reality...meh!!!