Bitcoin Forum

Just wondering...

How much bitcoin do people typically have? Hundreds? Thousands? Or just a couple?

>1000

I think that depends on how early people got in the game, or how much resources they had at there disposal, im a new comer so very little atm.

Yeah >1000 is good.  If you have 1k you're holding about 0.01% of all the BTC ever mined.  There are a few users with > 100K coins.

It's disheartening to get into bitcoin so late in the game. With ASICs coming out, it's completely unrealistic for anyone to try to get into mining.
Users with over 1k coins, and over 100k coins are the same users that got into the ASIC market when it was first announced.
It's turning out to be just like all other money in the world with the majority of it being controlled by the top few players.

Uh, the people with 100K plus coins have no use for ASICs.  Even if they dropped $100K USD they couldn't even mine 1k coins a month when difficult skyrockets.

There were a LOT of people who mined thousands of coins in the beginning when difficulty was low and mining was more of a concept than an economy.  Lot of these people destroyed their wallets when the formatted their drives or just removed Bitcoin from their machines.

Aren't people going to be jealous 5 years from now trying to make 5 Satoshi when you were mining 0.05 BTC a day on a 6950 or something.

The point of mining is not to make $ (that's a secondary goal), it's to strengthen Bitcoin.  You could have 21 million BTC but if nobody wants to use it as a currency it's worth less than a pile of dog poo. If you believe in Bitcoin buy some coins now and use it. Otherwise yes, you just missed another get rich quick scheme.

Believe it or not it's possible to earn more than early adopters.  If you buy 1k of bitcoins now at 27 dollars and they eventually become worth... say 2700. Then that is 100X your initial investment. And it would be worth 2.7 million dollars.

If someone has 50k coins right now and they decide to bail out and sell....... they would make 1.3 million dollars. So you beat even someone with 100k coins who sells now. (aside from time)

Right now IS still early adopter phase. But it's also risky

The market seems top heavy.

Anyone who reads this forum now should be holding at least 100 BTC as it just may be worth $1000s per BTC within 10 years time (probably less). Risking a mere $2,700 now, for what could be worth either zero or a $million in the future is a good move. Any BTC gained by mining or smart trading is a bonus.

To read this forum in 2013 and remain a detached observer, with no holding, could easily mean future years of kicking yourself as you stack WalMart shelves when you should be retired.

Yes, some people still have 100k BTC but as each day passes the big holdings are slowly decreasing as the earliest adopters take profits while the BTC price climbs.
https://blockchain.info/charts/bitcoin-days-destroyed-min-year

Trust me, deflationary currencies are like nothing you'll have ever experienced, the only reason people won't be able to make money with Bitcoins in this economy is because everyone is too focused on mining, I'm already beginning to see places I frequent accept Bitcoin. Once most people start getting fed up with mining then we'll start to see a real economy growing and it will make the paper currency economies look ridiculous.

Don't mine for profit, set up a business or do some work for Bitcoins instead, it's easier on your computer and more cost effective :P

yeah, you're better off investing in buying bitcoins during low valuation periods (man i wish i'd had the funds on hand to buy more when it was $10/btc!), and then leveraging your BTC capital on some exchanges...I've invested maybe $300 since September (i'm definitely a small-time bitcoiner right now), but have parlayed it via both the natural valuation changes and trading SDICE units on Havelock into a portfolio worth around $1300 today...so, what's that, 300% growth in 5 months? not too shabby for a dabbler.  Mining is a side-hobby.  I don't really have time to game much these days anyway, so I let the system mine and I tweak and jiggle the settings to see if i can squeeze a couple more MHash out of it for my BTC0.05 every 17-20 hours.

Interesting - what exactly is a bitcoin day?

To me it would be a good day of mining or an awesome gambling pay out!!  :o

A Bitcoin day is 1 (one) Bitcoin that hasn't been moved for 144 Blocks.

1 Bitcoin day = 144 BTC not moved for 1 Block = 1 BTC not moved for 144 Blocks = 0.1 BTC not moved for 1440 Blocks etc.

Bicoin days destroyed is an indicator that shows when very old coins are moved.

aha.... thanks  ;)

It is not late
And with ASIC you can mine by buying them, where is the problem? That you no more can become rich with your computer? Ah greedy people raging.

ASICs coming out provides the perfect opportunity to get into mining. Why are you so negative? I am here mostly to trade real world goods and services for bitcoins but with ASICs coming out I feel tempted to buy some of those to diversify my assimilation strategy. It seems like it could be a good way to convert fiat to bitcoins.

Its the best way - that is if you dont mind it taking awhile for it to be converted.

to me anything over 3/4k is a lot

more bitcoin than you can shake a stick at

I like shaking sticks.

I agree. Definitely depends on when you started and strategies used.

a lot.