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    Author Topic: If you have 100 btc...  (Read 5163 times)

    • Rival (OP)
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    November 12, 2013, 03:59:20 PM
     #1
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

  • wobber
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    November 12, 2013, 04:01:12 PM
     #2
    Some have thousands. A hundred coins in nothing. It's too little to be anything.
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  • simplydt
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    November 12, 2013, 04:02:26 PM
     #3
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

  • wachtwoord
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    November 12, 2013, 04:04:14 PM
     #4
    Quote from: simplydt on November 12, 2013, 04:02:26 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

    These things have been posted many times when the price was lower than $10.

  • MakeBelieve
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    November 12, 2013, 04:05:06 PM
     #5
    100BTC = $35250 at the moment. That's not too little for me.
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  • simplydt
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    November 12, 2013, 04:08:59 PM
     #6
    Quote from: wachtwoord on November 12, 2013, 04:04:14 PM
    Quote from: simplydt on November 12, 2013, 04:02:26 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

    These things have been posted many times when the price was lower than $10.

    Fair enough, unfortunately I wasnt here to read these words of wisdom. Smiley Why does important crap like this never get to my Facebook page, instead I get pictures of lol catz and dogs... wtf?!?

  • wobber
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    November 12, 2013, 04:12:23 PM
     #7
    Rival, let's hijack your thread and make a poll. I am very curious how many people have 5,10,50,100 or more BTC.
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  • Rygon
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    November 12, 2013, 04:14:11 PM
     #8
    If you want to feel even better about owning 100 coins, look at the Pareto distribution for wealth. If there are millions of people with Bitcoins, an individual with 100 BTC is somewhere in the top 1%.

  • notme
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    November 12, 2013, 04:14:17 PM
     #9
    Quote from: simplydt on November 12, 2013, 04:08:59 PM
    Quote from: wachtwoord on November 12, 2013, 04:04:14 PM
    Quote from: simplydt on November 12, 2013, 04:02:26 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

    These things have been posted many times when the price was lower than $10.

    Fair enough, unfortunately I wasnt here to read these words of wisdom. Smiley Why does important crap like this never get to my Facebook page, instead I get pictures of lol catz and dogs... wtf?!?

    Take a long hard look at who you call "friends" Wink
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  • wachtwoord
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    November 12, 2013, 04:14:41 PM
     #10
    Quote from: simplydt on November 12, 2013, 04:08:59 PM
    Quote from: wachtwoord on November 12, 2013, 04:04:14 PM
    Quote from: simplydt on November 12, 2013, 04:02:26 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    You should have put it that way when they cost $10 each. Now its too expensive for me to buy 100 btc (expensive as in i dont have the money, not that the price itself is expensive), because as you put it, if it ever becomes mainstream, then being in the top 0.0035% of bitcoin holders would be priceless.

    These things have been posted many times when the price was lower than $10.

    Fair enough, unfortunately I wasnt here to read these words of wisdom. Smiley Why does important crap like this never get to my Facebook page, instead I get pictures of lol catz and dogs... wtf?!?

    Buy what you can now and don't dwell on the past. Buy 21 BTC and have 1-millionth of the all Bitcoins that will ever be created. Or if you're poorer buy 2.1 and have 1-tenmillionth. Having 1-tenmillionth of gold is still ~1000 troy ounces or $1.28M. Not too shabby aye? Wink

  • Loki8
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    November 12, 2013, 04:19:21 PM
     #11
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.

  • xan_The_Dragon
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    November 12, 2013, 04:22:23 PM
     #12
    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.
    i doubt this
    MfFMEpgL5Ma9C2yw6iSsSX4QcbSVzjm6iK

  • BurtW
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    November 12, 2013, 04:25:32 PM
     #13
    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.
    Prove this or delete it.
    Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!

  • MakeBelieve
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    November 12, 2013, 04:26:55 PM
     #14
    Quote from: BurtW on November 12, 2013, 04:25:32 PM
    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.
    Prove this or delete it.

    Yeah can we have a explanation with some proof please?
    On a mission to make Bitcointalk.org Marketplace a safer place to Buy/Sell/Trade

  • wachtwoord
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    November 12, 2013, 04:31:44 PM
     #15
    Quote from: Rygon on November 12, 2013, 04:14:11 PM
    If you want to feel even better about owning 100 coins, look at the Pareto distribution for wealth. If there are millions of people with Bitcoins, an individual with 100 BTC is somewhere in the top 1%.

    Challenge accepted. Say 21M people with Bitcoins (and of course a total of 21M BTC), using Pareto this leads to:

    Code:
    21 M people.

    ~1 BTC per person

    -----

    Top 20% 4.2M people
    80% of wealth 16.8 M  BTC

    --> avg 4 BTC

    --------------------

    Top 4%, 0.84M people

    64% of wealth 13.44 M

    ---> avg 16 BTC


    -----------

    Top 0.8% 0.168M people
    51.2 % of wealth 10.752M

    --> avg 64 BTC

    ---------------------------------

    Top 0.16% 0.0336M people (33600 people)
    40.96% of wealth 8.6016 M

    --> avg 256 BTC

    ---------------------------------

    Top 0.032% 0.00672M people (6720 people)
    32.768% of wealth 6.88128M

    --> Avg 1024 BTC


    So the average person has 1 BTC
    In the top 20% the average person has 4 BTC
    In the top 4% the average person has 16 BTC
    In top top 0.8% the average person has 64 BTC
    In the top 0.16% the average person has 256 BTC
    In the top 0.032% the average person has 1024 BTC

    etcetera. Note that this is these are averages so the lower bound to be in a echelon is lower. So with 21 BTC you are likely still in the top 1-2%.

    Also note that this is with ONLY 21M Bitcoin holders. There will likely be many, many more Smiley

  • Loki8
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    November 12, 2013, 04:34:44 PM
     #16
    Quote from: BurtW on November 12, 2013, 04:25:32 PM
    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.
    Prove this or delete it.

    Proof for what?

    99% of the world's wealth is owned by 1% of people? or 99% of the bitcoin's wealth is owned by 1% of bitcoiners?

    What don't you  believe?

  • wachtwoord
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    November 12, 2013, 04:37:54 PM
     #17
    Quote from: Loki8 on November 12, 2013, 04:34:44 PM
    Quote from: BurtW on November 12, 2013, 04:25:32 PM
    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    Quote from: Rival on November 12, 2013, 03:59:20 PM
    If you already have 100 BTC there will never be more than 210,000 people who have more bitcoins than you.

    Think about that for a moment, and then think about how many have been lost forever already.

    99% of the world's wealth is owned by 1% of people.

    99% of the bitcoin's wealth is owned by 1% of bitcoiners.
    Prove this or delete it.

    Proof for what?

    99% of the world's wealth is owned by 1% of people? or 99% of the bitcoin's wealth is owned by 1% of bitcoiners?

    What don't you  believe?

    because it's nonsense. Look at my calculation above. The top 0.8% owns 51.2%.

  • Loki8
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    November 12, 2013, 04:53:28 PM
     #18
    Quote from: wachtwoord on November 12, 2013, 04:37:54 PM
    because it's nonsense. Look at my calculation above. The top 0.8% owns 51.2%.

    The distribution always remains very unequal.

  • BurtW
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    November 12, 2013, 04:55:22 PM
     #19
    You stated:

    Quote from: Loki8 on November 12, 2013, 04:19:21 PM
    99% of the bitcoin's wealth is owned by 1% of bitcoiners.

    This is a flat out lie.  You cannot prove this because it is not true.
    Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!

  • BurtW
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    November 12, 2013, 04:58:00 PM
     #20
    Quote from: Loki8 on November 12, 2013, 04:53:28 PM
    The distribution [of wealth] always remains very unequal.

    This is true.  But, I am curious:

    It sounds as if you believe something should be done about it.  Is that true?

    If you believe something should be done about it then what do you propose should be done?
    Our family was terrorized by Homeland Security.  Read all about it here:  http://www.jmwagner.com/ and http://www.burtw.com/  Any donations to help us recover from the $300,000 in legal fees and forced donations to the Federal Asset Forfeiture slush fund are greatly appreciated!
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