Discussion in 'Digital Currencies' started by mmm....shiney!, Feb 4, 2021.
Courtesy of Glassnode.
Shrimp reporting in!
With such a small no. of coins in constant circulation, even a chubby Shrimp could create significant wealth if they HODL for long enough.
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.
I don't mind being a crab!
2021: You need almost half a million dollars just to be a mere Octopus.
2012: Around 10K would make you a whale
get the knife and chilly bottle
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?
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.
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.
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.
"Sats for kids" like a piggybank.
lol, I think there are a few teenagers around who have more BTC than I do.
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.
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