BTC supply distribution

Discussion in 'Digital Currencies' started by mmm....shiney!, Feb 4, 2021.

  1. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Courtesy of Glassnode.

    Classifications:

    Screen Shot 2021-02-05 at 7.25.50 am.png
    Distribution:

    Screen Shot 2021-02-05 at 7.27.09 am.png
     
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  2. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    Shrimp reporting in!
     
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  3. LiverBird

    LiverBird Well-Known Member Silver Stacker

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    With such a small no. of coins in constant circulation, even a chubby Shrimp could create significant wealth if they HODL for long enough.
     
  4. hawkeye1

    hawkeye1 Active Member

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    I think I have seen some estimates where if you hold 1 BTC or more you are in the top 10% of all holders.

    If you think about it, there are only an absolute maximum of 21 million people in the world who can hold at least 1 Bitcoin in any given timeframe. That's less than the population of Australia. And of course it's never going to be even close to 21 million because of all the whales. The vast majority of the world's population, around 7 billion people, are going to have to be happy with less than 1 bitcoin.

    Hmmm, I wonder what the price would have to go to where 99% of the world's population couldn't afford it.
     
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  5. whay

    whay Well-Known Member

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    I don't mind being a crab!:)
     
  6. Ag bullet

    Ag bullet Well-Known Member

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  7. hawkeye1

    hawkeye1 Active Member

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    2021: You need almost half a million dollars just to be a mere Octopus.
    2012: Around 10K would make you a whale
     
  8. alor

    alor Well-Known Member Silver Stacker

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  9. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    In the gold world a "Shrimp" would be anyone holding less than about 10 1/2 kg of gold.

    Crypto: a "Shrimp" = 1/19 000 000 total circulating supply = 0.00000005263 of total supply
    Gold: a "Shrimp" = 0.00000005263 x 197 000 tonnes of above ground supply (2019) = 10.37 kg

    Hands up any crabs? :p
     
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  10. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    So by holding 1 BTC which would cost you about $68 000 you have the same exposure to the total available BTC supply as you would if you held 10kg of gold which would cost you about $700 000. That's one reason as to why $$ are leaving gold.
     
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  11. hawkeye1

    hawkeye1 Active Member

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    I think a lot of people get caught up in the idea that they can't afford 1 BTC.

    In reality, only 21 million people in the world maximum, will ever be able to hold 1 BTC at any one time. Which means 98-99% of the world's population will likely never own 1 BTC.

    The better way to think of it is that 1 BTC = 100,000,000 Satoshis.

    1 AUD gets you around 1400 satoshis.

    If we get to the point where say, 1 AUD = 100 satoshis or less, then I would say it is a pretty good time now to exchange some of your dollars for satoshis, rather than waiting till later.
     
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  12. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    Same mentality around gold.

    One of the crypto exchanges sent me a message the other day saying you can now buy BTC with as little as $1. Trading cash for Sats.

    Yep, still early days. The current MC of BTC means that it is better value (yes value is subjective apologies) than gold.
     
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  13. mmm....shiney!

    mmm....shiney! Moderator Silver Stacker

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    "Sats for kids" like a piggybank.
     
  14. hawkeye1

    hawkeye1 Active Member

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    lol, I think there are a few teenagers around who have more BTC than I do.
     
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  15. Markco2

    Markco2 Well-Known Member Silver Stacker

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    Don't forget all the lost coins along the way.
    There is also the Whale factor.

    That makes owning 1 or more Btc even rarer.

    Plenty holding onto them as well.

    Cheers Markco2
     
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