Bitcoin Forum

I have been reading posts on forums and articules about BTC and everybody seem to focus the target to achieve 21BTC, Why 21 ????

Blackjack. Thats why.

Because Bitcoins hard cap for the total supply is 21 Million[1], which means at 21BTC you'd own 1 millionth of all BTC there will be, or 0.0001%

[1] https://en.bitcoin.it/wiki/Controlled_supply

I was also curious about that digit that why they all are agree with only that one number. After looking this aim for certain times I often smiled on them that why is it. But now with the reply of Lutpin I found the real reason that why people are aiming for that.

bitcoin has a cap of 21million which makes 21 a special number to bitcoin owners. There may be some connections to black jack but I feel like it is just a random number.

Those 21 btc they mentioned but they have no significant meaning. Possibly those people are from the Philippines since 21 btc is what they need to have a one million pesos. With 21 btc they will become millionaires and probably that is the reason why they keep posting 21 btc. But if my theory is wrong then just read some other comments that may possibly answer your question.

Clearly you haven't been part of the Bitcoin community for very long. Everyone wants 21 Bitcoin because it is a millionth of the complete supply of Bitcoin.

It might means innovation finance of 21 centery :D

The good news is that we are not likely to run out of gold any time soon.
The US Geological Survey estimates there are 52,000 tonnes of mineable gold still in the ground and more is likely to be discovered.
A cube made of 171,300 tonnes would be about 20.7m (68ft) on each side. That is present extracted gold stocks!
Maybe this is the answer 21 m hight of a cube! Hah... 1 tonne of gold costs .... btc! Google: tonne = unces! Gold 1 oz = $/btc!

Yeah this.

I think people are really aiming for 21 as it is something significant in the bitcoin world. This is why there has been plenty of people that aims for this and there are even companies that use this number, like 21.co a bitcoin centered business.

35273.9619, 70 * 171300 * 1,225.60 = 7 400 000 000 000 = $7.4T (1/10 of world's gdp)= 4.1Bbtc
thus we have 200 times more gold than bitcoins

It seems that Satoshi was a huge fan of Black Jack and he designed the supply of coins to be exactly 21 millions.
That is why we have all those references do 21 appearing around. Ok, jokes aside.

I just want to add that if you will hold 20 BTC or 25 BTC it does not matter, there is no difference really (obviously, the bigger is your stash the better)
That 0.0001 % of total BTC supply which 21 BTC represents is some artificial number and if you reach it... Well, you can feel better about yourself.

If i have 21btc.im already a millionaire here in our country , i can buy house and a brand new car.
But for me my target is 100 btc cause i like living like a  king.

I have at least 2.1 BTC, so I'm happy owning more than ten millionth of the total coins in existence. If say one billion people use Bitcoin, then I would have a hundred times more coins than the average person.

I'm saving up to at least 10 Bitcoin within the next couple of years. I think I may be able to hit that, which is really great.

This is just a hype on where you would really be called a user who are included on the million club considering on the total supply of bitcoin and if you do hold 21 BTC then you are already a part of it but this is just a nonsense goal actually because not all people will accumulate that such amount of bitcoin and some users do have more than that amount even hundreds or thousands of them which means its not equally partitioned but well its not bad to have this goal.

This is because supply of Bitcoin is limited to 21 Millions and holding 21 BTC will make you one in the million. You will be automatically placed in the list of top 1M holders of Bitcoin. However for me this is totally rubbish. I believe in continuous circulation of Bitcoin, no matter at what price it floating on. I use it as currency and spend it on regular basis.

LOL, or something will happen on 2021..

21btc is a calculated number for the users who have been into bitcoin. Holding 21 bitcoin will make the user one in a million as the generation of bitcoin is limited to 21millions. But if the success story of bitcoin continues with the strong forward phase as it is now, surely alternate solution will be there in the increase of bitcoin generation.

And if ever you hold 21 btc, then you are part of the wealthy elite. So its gonna be a raise for a lot of people to have 21 btc in your wallet. But for me, its not realistic goal for me. I'm will be more happy if I just can get 1 full sweep in my wallet. That could be an accomplishment for me.

I am reading all the replies to this thread and got so much knowledge about 21 btc myself. It is good to know send facts such as 21 stands for number of bitcoins holder in the world and limitation of bitcoins production. Let's hope it increases in the number in near future.

It also has to do with the halving rewards. As the halving rewards get cut, holding 21 BTC becomes harder. I think when you hold 2 times the halving reward, you will start feeling that you are wealthier as the price adjusts.

So next halving reward is 6 BTC, have at least 12 BTC and you will be on a good track.

But 21 is the way to go, so you guarantee you are in the 1 million club for life.

I am pretty sure it is way harder to hold that much btc by anyone person. one million club must be a dream of many people in the world. How does halving reward really works ?

21 is a special number indeed but i would not hope for the number to increase as am a segwit supporter and having to increase this number of bitvoins to ever exist  might have repercussions on the price.
Aiming for a that much too 8)


 

Since 21 million is the maximum number of bitcoin that will exist in our world, having 21 million bitcoin in your possession would make you a ONE IN A MILLION person. Who wouldn't want to be a one in a million, right? Nonetheless, it would be for a self satisfaction to be within that million.

Setting aside the one in a million thing, I do like to have bitcoin. A single one will do, 21 would be better, more would be fantastic.  ;D

It's well known fact that there is only 21 million of bitcoin and here the calculation is simple - everybody wants to be one of this million people who would have bitcoins and it's like big capital of money which is actually nonstop growing. But I think it's just impossible to 1 million people own by 21 BTC. Bitcoin have to circulate in people's wallets to be in demand and to continue to grow.

I'm having a thoughts that those people who's targetting 21 btc is came from third world country. maybe that amount is so huge for them. unlike with us we are targeting to have millions of bitcoin and that's the real target. Dream high as you can hope high as you can so you can meet all your true expectation in life. people didn't have a contentment in their self that's why you must dream as high as you can . so instead of targeting of 21 BTC target more than that like 21Million BTC . 

Actually I do not know what you're talking about, and what concerns me, I would be glad not only 21 Bitcoin 10 or even 15 Bitcoin on my wallet. First of all I think that the goal for each user of this is bitcoin and keep it up to the best prices in the future.

Its 1 million number, if you have 21 btc only 1 million people could have like you

21BTC is a huge amount actually,  I don't know the exact reason why 21BTC perhaps for them it's a lucky number because the total supply of bitcoins was 21M of bitcoins.  But we can aim at any amount, it depends on you :D

Its not possible for majority of people to have that high amount in their wallet as it takes really hard to earn even a small amount of bitcoins and I am very much sure people who are involved in earning bitcoins in different ways would be struggling to have even 1 btc in their wallets.

Nonsense, it's just hope of any people that want to get rich with bitcoin. This thing are is not relate with any reason like blackjack, bitcoin marketcap, or the years. Maybe someone do that, wishing that 21 with that mainstream reason. Come on, it's ridiculous. It's too much amount to collect by one people nowadays.

21 btc for one person which mean only 1 million bitcoin users in this world own bitcoin if they also have 21 btc each but honestly i just know in this thread that if everyone had a target 21 btc because i never heard about this before however with the current price had 21 btc is very hard to do so for me and i just try to be realistic that even for 10 btc is impossible for me

For most people from where I see it, the 21 is just a symbol and nothing attached. We can ascribe it to whatever we want to. Its just our individual quest to make more bitcoin which means more money and that is why someone who is able to make 21btc will not stop there but continue accumulating to reach 210, 2100, 21000 etc and if possible to own every bitcoin that exist.

First of all 21 bitcoin equals to $ 36220 according to the price at this point. I've just realized that if you're holding 21 bitcoins you'll be the one of 1 million people in this world who hold the same amount which is cool moreover there's only 16 millions in circulation right now ( thanks for this thread btw ). 36k dollars isn't a huge amount for some people especially in advance countries so i think holding 21 bitcoins for many years later is a good choice and very promissing cause there will be halving and then fewer Bitcoins will be mined right? so the price would be up. Well If i a had lot of money i would buy those amount but sadly collecting 10 bitcoins for me is realy hard.

well that's a good information. i've wondered about why i've been seeing that number as well a couple of times and this is a good trivia though I don't think it can help me reach that many btcs. I wonder how many people would actually be able to get that target amount :D

The number 21 is just to have 1 millionth of the total mined. I'm just shooting for 10 bitcoins. It seems to be more reasonable and a round number.

The 21 bitcoin is one of the common target of a common bitcoin user because they think that it will cost a lot of money in the future like it can make you an instant millionaire or even billionaire because we can't tell what will be the price of bitcoin in the next few years because bitcoin price can either go up or down so it is still a mystery for bitcoin holders.

Yeah I agree OP its a strange number because it is still quite low  ;D despite it being a millionth of all the btc there will ever be id rather go for a more ambitious target like 210 btc then at least I'd have 0.001% of all btc there will ever be.

I think most people who write in this topic don't even own 1 pure bitcoin probably, let alone 21. If you haven't bought them when it was cheap last year, the opportunity is now gone forever. Unless you are a member of 1M$ club... Nobody would (and should) risk that amount without owning at least 500k$ now.

You may have missed the 21BTC club, but you can still afford to get into 1BTC club and it is 21 times cheaper.  8)

You will be that 1 lucky guy who owns 1btc out of 21 MillionBTC. Still sounds good. Not as good as being in the elite 1million club but it is still not bad.

Guess it's the one in a million people craze. Anyone who is able to attain 21 BTC will look out for more so it's not a matter of stopping at 21 BTC. It's a dream because they're not there yet but many memories that get greedier when they achieve that.

21 is a winning blackjack hand number i guess.
 
21 is a lucky number and people are superstitious is all.


Ppl also say 21 is enough to make you a millionaire later. Who rly knows.

Now I know the answer Thanks.

Well i don't know the exact reason.But my friend always used to say that if we have 21 BTC,then we could enjoy a retirement life.May be some of the early bitcoin adopters would have assumed that bitcoin price would move to one million in future and so by having 21 BTC,we would be the owners of 21 million dollars.Its just my assumption.

Bitcoin's total supply is capped off at 21million coins. This means when one hold 21BTC one would own 0.0001% of all BTC there ever will be.

Because Bitcoins are capped off with a total supply is 21 Million. This means that at 21BTC you'd own 0.0001% of all Bitcoin that can ever be produced. This is why 21BTC is the magic number.

even just one or two I'd be happy about it, do you think that 21 million circulating bitcoin is enough if many more people got interested on earning or holding bitcoins?

Having 1 can make us happy and we will be asking looking for more in the near future and the circulating btc can increase as user increase.

more than enough, considering bitcoin can never see an increase in total supply, but there is no rule preventing an increase in precision (i.e. adding more decimal figures).

in practical terms, even today, talking in "Bitcoin" units is fairly senseless. mBTC is where it's at today. It will--hopefully--be uBTC soon-ish.

Holding 21 bitcoin practically sets you up to be well placed in the top 1-million (there simply arn't that many big holders... there are a few massive holders, and a massive ammount of fraction-owners). It's a nice number and by all means if you happen to stumble upon 21btc do shove them in a cold wallet and forget for a decade or so...

but in reality what I would do today is to put 1BTC in that cold wallet, and call it one heck of a success. Even for many of us who've been "in" for more than 5-6 years 21BTC is not that easy a target to carelessly through around.

There will be maximum of 21 million bitcoins at the end of the bitcoin mining but maybe we won't be alive based on the calculation that satoshi has made because the halving will happen almost every 4 years and it will take really a long time until all 21 millino bitcoins will be mined. The goal of people is to be part of the 1 million club which means that only 1 million people are able to hold 21 bitcoins maximum.

21 bitcoins would mean that you are holding 0.0001% of the entire possible bitcoin circulation, hence why a lot of people want to get that amount of bitcoin and set themselves a target to get it before xx date and time.

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It's the same concept as why everyone wants a million dollars. So that they can be called a milionaire and all that. Practically there is nothing magical that's going to happen when you get 21 bitcoins but it would mean that you are one in a million in a world where there is 7 billion people. So when mass adoption is achieved, if and you have 21 btc in your wallet, you are sure to make a heck of a profit.

However 21 bitcoins is obviously very hard to get at the moment. Try not to put too much pressure on yourself and aim too high. Set your target a bit lower, like 1 bitcoin. When you reach that, set another target. Keep repeating that.

There is no urban legend about people wanting to obtain 21 Bitcoins, it's not true, I do want some for now but just 18 and not 21 and after I bought a house with those 18 coins then I'll start focusing on getting hundreds and not just 21 because that's a lame and small amount if you ask me.

I don't know the exact reason for 21 BTC target.But my friend who introduced me bitcoins always used to say that he has already got 21 BTC and his target is to get 11 more BTC so that he could join 21 BTC group.He further added that by joining 21 BTC group,he could enjoy a retirement life travelling to various parts of world and enjoy the remaining life.I too have an idea of saving 21 BTC.

A lot of people believe that bitcoin will go up to 100,000 USD in price. Having 21 Bitcoins will give you about 2,100,000 USD. In the USA that is about enough money that you can retire comfortably and live for a while.

Once you have that money you put it into an account and it gains more interested over time(each year someting like 5%).

Your payout per month would look like this if you have 2.1Mil USD. If you wanted to withdraw 4,000 USD each month it is 2,100,000 / 4,000 = 525 months of being able to withdraw that much or 43 years. Most people would like to withdraw 5,000 or 6,000 a month, which would be like 30 years.

You could retire at the age of 45 and withdraw 4,000 a month, that would last you until about 85 to 90 years old. Since you gain 5% interest on it it would likely last you well past the age of 100! Typical expenses in average sized cities and towns are somewhere around  2,000 USD a month(food/housing/car/gas/eletiricy/phone/internet/going out to eat/ETC).

21 realy seems like magic number. But will 21 Bitcoins be enough to live like a millionare? At current trends with price it looks like this could be real but getting to that sum of Bitcoins isn't easy at all. And if ever price changes for worse 21 Bitcoins maybe wouldn't be so magic number afterall.

That makes sense,even i was wondering why am i seeing many people having a target of 21 bitcoin,just my doubt,how about the lost coins,i am sure that many people have forgotten their password ,lost their control over their coins and i think around a million coins will be lost like that till now,so collecting around 20 btc would be fine.  :)

The reason that everyone targeting 21 bitcoin nowadays is the high value. As of now the value of 1 bitcoin is equivalent to 2000 USD  and if you have a 21 bitcoin meaning you have a 42,000 USD and if your location is in the 3rd world country this amount of bitcoin is equivalent to a million fiat that's why many of bitcoin user are targeting 21 bitcoin and remember that the value of bitcoin is continuously rise and increase.

Its never easy to have 21 btc in wallet and it was possible in the past when price was too low but now if you are dreaming of that then you need to work really hard on it as I am sure most of the users even don't have 1 btc in their wallet.