Bitcoin Forum

With a hard set total supply limit of 21 million Bitcoins, excluding those not already mined and others that have been lost, there can only ever be a maximum of 1 million Bitcoin owners who own equal to or more than 21 Bitcoins.

Do you class them as the new Bitcoin millionaires?

There are really bitcoin millionaires since some of them possessing more than 21 bitcoins and I can't consider that 21 btc owners would be included on millionaires list,well if we are talking or basing on the supply then it would do but we talk in value then it's not possible.

As of 2016/12/27 Bitcoin Circulation is 16,067,663 if you can get your hands of over a million bitcoin you can call yourself millionaire by now, well if the number of bitcoin you posses would reach that amount and If you are asking if who would be called the new bitcoin millionaire by now Well said to Investopedia there are nearly 900 bitcoin millionaires around the world.

I'm not talking about the early adopters Bitcoin millionaires as with current prices this is out of the range for Joe investor. I'm talking about a second league of Bitcoin millionaires based on being 1 of a possible million people to hold Bitcoin.

We shouldn't call those who hold 21 bitcoins as millionaires. We should invent a new term for them.
We might soon need a new term for those who hold even 1 bitcoin.  :P

To be a millionaire in Korean wons you need $824.58
To be a millionaire in euros you need $1,039,799.9
To be a millionaire in Chinese yuan you need $143,785.59
To be a millionaire in Zimbabwe dollars you need $2.76 (https://www.youtube.com/watch?v=oavMtUWDBTM (https://www.youtube.com/watch?v=oavMtUWDBTM))

To be a millionaire in bitcoins you need $955,509,563.70

Easy. You can't be a millionaire in bitcoins if you don't own one million bitcoins, which, at the current rate, is the equivalent of nearly $1 billion, meaning that if you're a millionaire in bitcoins you're also a billionaire in USD.

Makes sense, doesn't it?

You can still be a millionaire in mBTC or even in uBTC if you really want to be one. I personally am a millionaire in carbon molecules. A pity that it's not considered a currency anywhere.

No, hold 21 bitcoin is not even in 1% of bitcoin supply at least you need around 210k bitcoin to join such club.
Here a list of top 5 bitcoin millionaires: http://www.investopedia.com/articles/people/083016/who-are-top-5-bitcoin-millionaires.asp the winklevoss brothers at the top.

If we consider those guys as millionaires who possess 21 Bitcoins based on current price of bitcoins, then definitely no, because we are mathematically wrong here. And this is not a good thing if there will ever be such amount of people only who will possess 21 Bitcoins, as that will become the biggest holdback if the coins are not spread among other users.

I cannot understand @OPs thought. There are many people, btc owners, with only 1USD = 0.001Btc in their wallet. The same time there are some people with more than 100.000 Btc in their wallet/s. So how can be sure how many network addresses has anybody of bitcoin users? 

LOL, well you can add  to the list that to be a millionaire in Philippines you just need $20,000  more or less.  And yes it does make sense especially the latter part which I think we all can be a millionaire if that is the basis. :D

First Bitcoin needs to reach some $10000 of dollars each, then we could call them millionaires

Or if BTC replaces FIAT, who knows

They can be called 0.000021 bitcoin millionaires. Even if you convert it to dollars, 21 BTC cannot reach millions. One of the 1 million who can own 21 BTC does not translate to millionaires unless the price of bitcoin reach 47,619.05$. But until then, they are just 21BTC owners.

No, 21 BTC is a lot for most of us, but it does not make you a millionaire at current prices, for that you need more than a thousand bitcoins, but if someone currently owns 21 BTC then he is on his way to slowly but surely secure his future if prices keep going up.

I don't think Bitcoin will be only in the hands of a Millionaires Club, it was projected to be a currency used by a big part of world's population. When the 21 million of BTCs be mined, the price of the coin is supposed to be in a big number, who will have 1 BTC will have a lot of money, that is why we have 8 decimal houses. If few people try to control it taking all the BTC or the biggest part of it, the currency won't work and the most people won't have interest on it anymore, making the coin useless.

Unless combined value of 21 bitcoins will be worth more than 1 million USD, EUR or any other top fiat currency then these people are not yet technically millionaires.

/thread

21 you're 1 in a million.

210 you're in the Milli High Club.

https://bitcointalk.org/index.php?topic=98239.msg9454178#msg9454178

There is so many "new rich peoples" which caused by bitcoin volatility price. If you hold 300 btc from 2010, and save it, you are the one them.
Now everyone who have big fund in the bank started racing investment in bitcoin. And they could hold million of bitcoin like what you say.

There are going to be less people that own more than 21 Bitcoins than 1 million. Chances are the million most wealthy are going to own between 10 and 21, there's probably some specific number but I don't know what it is right now. It might even be lower than 10 Bitcoin, we might be looking at numbers as low as 3-4 to be honest. Some traders have tons of BTC tucked away.

If i was bitcoin millionaire i would not tell anybody. You crazy?

Bitcoin needs to reach $50000 for this to happen. Entirely possible if you ask me  :)

Per definition a Bitcoin millionaire can only be a person who owns at least one million Bitcoin.

Even if you mistakenly measure wealth in fiat trash money, this thread is nonsense speculation and a great example of excessive optimism during market moves. So a correction may follow quite soon.

Measuring wealth in fiat money makes no sense, because fiat money is subject to significant monetary inflation. I'm quite sure that in the more distant future, 21 BTC might be valued at 1 million USD. However the buying power of the USD will be much lower by then.

ya.ya.yo!

I think there are really bitcoin millionaires
because other people has a lot of bitcoin and
when they use or sell those bitcoin it will give them
a lot of money.

Tell me, Are you sure we are still alive at the price of bitcoin is touching $5000?  :)

21 bitcoin becomes a millionaire? possibly need to wait 10 years, or 20 years? maybe by that time the millionaire is nothing special because of the inflation? I'd hold gold in that case, which possibly appreciate more.

Given the price of bitcoin today and comparing it to those who hold 21 btc they cannot still be considered bitcoin millionaires. Let us say that the price of bitcoin right now is 1k $ and multiply it by 21 btc, the holder will only have 21,000 $  and they cannot still be considered millionaire. If they have 1000 bitcoins multiplied it by the reate of 1k $ per bitcoin then you will have a 1 million dollars at hand. So the person to be considered to be a bitcoin millionaire are those holding 1000 bitcoins or more if bitcoin reaches 1k $ each in value.

maybe yes and maybe no, because its depend on the price of bitcoin itself, if the price is like the price now or more than the price now, then i am sure they are the new bitcoin millionaires but if the price is down into the down like the years when bitcoin is launch, then they only part of the owners of bitcoin.

He means in order to have at least 1 millionth of a share in bitcoins total you will need to own at least 21.

I hope one day to be one how cool would that be. I must save save save and invest invest invest in order to get there though ^^

All you need to be a millionaire is 21btc? The wallets I have with the least amount of btc have more than 21 in them. I think you need to check your maths. LOL

The problem like always is when, if that is your prediction for the next 100 years then that could happen very easily with just inflation, but for that price to be reached in the next 10 years we will need a huge jump in adoption.

There would only ever be that if BTC is fully mined with no additional service updates, who knows one day Satoshi might drill up a new dozen halves to crack.

I'm sure there are a couple thousand Bitcoin millionaires, and the founder also stashed a million or so as well.

For this to happen the growth would have to continue over the next 20-50 years once the economy establishes.