Bitcoin Forum

To be part of the 1% of the richest in the world when it comes to Bitcoin you only need 0.28 Bitcoin . - According to Jake Levison

As we know the bitcoin just has a limited supply and only 2% of the bitcoin address could have a 1Bitcoin or more, earning this 0.28, in my opinion, will be difficult for most of the users.

https://i.imgur.com/woLc5LT.png

Ref:
https://twitter.com/jakelevison/status/1229822726686281730

https://i.imgur.com/ZUT40Kh.png

Ref:
https://twitter.com/BTCKris_/status/1229974349722968066

Surely a lot of people hold more than 1 bitcoin in their wallets but the number of people who own 1bitcoin is between 500k to 1million.

Earning is probably the easier part. I think this BTC0.28 is achievable in one year or two for an average investor assuming bitcoin remains around $10K. The problem is that most of us are too impatient to sell or too weak to hodl.

If bitcoin surges, those figure will quickly change. Owning BTC0.28 would probably land you to 0.5% of richest bitcoin holder.

Yea, in BTC terms. I honestly don't think that statement means that much because it's probably only relevant if Bitcoin actually reached far far greater heights in terms of adoption. I'm personally also a long-term bull and I completely get what Levison is trying to say, but idunno. It's not safe to assume that some people are already assuming that they're going to be one of the future world elites if they own 0.28 BTC. A slightly negative comment to balance things out a bit I guess?  :P

Well, if there is a time frame of earning Bitcoin is not impossible for us to have a number of Bitcoin into our wallet. But if you are a small investor the fraction amount of BTC, 0.028 is quite big for you to purchase that amount, --especially at this moment Bitcoin will become surging the price in the market. I will never doubt a big investors or let's just call a big whale will perhaps have a huge number of Bitcoin on their wallet.

Having the said amount would let you make yourself feel good about the fact that you belong to the rare 1% statistics in your life. It may only be in bitcoin terms though knowing how hard it will be to obtain bitcoin in the nearer future due to its price, you might as well keep it and just hope for the best. Luckily though I have managed to get more than that amount and I'm not planning to spend it any time soon.

That's insane. This shows how much of a value Bitcoin is starting to become. To me it's not very different to telling me "1oz of gold to be in the 1% of the richest gold owners", because I've always considered Bitcoin a cheap commodity for what it is capable to do.

This thread is gonna be interesting in a decade. Very interesting. :)

To be honest, I don't understand how this number is calculated. I had a quarter of BTC, so I was pretty close to this one, but why is it 1% richest holder? There are 18 million BTC in circulation, so it's really hard to believe that such a small number could make a person a part of 1% richest holders. And from the data I've encountered on the richest BTC addresses, they have quite a lot of BTC. If there're 42 million wallets, then the one owning at least 0.28 BTC should be in 420k of the richest ones, right? If what AsusPower wrote about 720k addresses with 1 BTC or more is right, I don't see how the math can work out here.

It's probably assumed that with mass adoption the price increase is a given. Therefore with the huge value, regular people will be getting small amounts of BTC for everyday needs. Those addresses will still be wealthier than you but all the newscomers which will outnumber old investors will change the metrics completely.

1% when applied to the world is kind of a meaningless figure. The salary you would need to be in the world's top 1% is about $32,000. That's fine. I'll bet people who earn that in first world country don't feel like the top 1% but they should.

I don't know if they're basing it on this rather rudimentary equation or not, but it seems to be an odd coincidence if not:

21 million BTC / Global population of ~7.5 billion = .0028 BTC

1 is two decimal places away from 100, so move the decimal place by two... ?

I wouldn't personally feel comfortable describing it as "statistically guaranteed" if that's how they're working it out, heh.

You realize that a year ago we had 657 000 fewer bitcoins in circulation, right?
It is normal for all the addresses holding more than 1 or more than 10 or 0.1 to grow in number since we have more bitcoins that must be distributed somehow.
But this trend will become slower as the halving is coming and the numbers of bitcoins added will shrink each year.


Well, actually it doesn't say that and nothing has changed from the beginning of bitcoin in 2009 since the OP has made the calculation based on the entire supply /world population.
With 0.28 BTC you are going to be in the 1% richest bitcoin holders, but nothing more, just as it takes only 1 LTC to be in the top 1% LTC rich list, but nobody is saying this will make you part of the 1% richest men in the world by all metrics.



It's 21 000 000  / 75 000 000 (1% of the population) > 0.28
Basically the minimum required if all the bitcoins would be split to only 1% of the population.
Mathematically correct, with 0.28 you can't be outside the 1% but in reality...meh!!!

Seems more like a speculation post , it's is only my personal opinion. People should not be care about supply, it is more important its use, holding cryptocoin in general will not make any sense to me except the usual strong speculation.

This will only be meaningful in terms of lifestyle when people generally talk about their savings in terms of sats not bitcoins. That will require worldwide adoption by most every sector in society which honestly seems pretty far away right now.

This is achievable if you are that average signature poster. Even for bounty hunters it's doable in a year if they invest their time in the right projects.

To think that just 4 years ago people were making a whole Bitcoin every month posting in campaigns and doing various other jobs on the forum. 8 years ago you could get a Bitcoin for free by claiming faucets or taking part in giveaways. Whet we used to understand as the elite is changing every year.

I hope that by the time 0.28 makes me an elite I'll still have strong will and have that much because it's going to be worth a lot of money at that point.

It's possible to earn that now, so I must say if people read this they will be inspired to hold.
The future is always uncertain but we can also start investing now and if every we lose, we won't lose that much money but reward is quite so good.

personally, I am investing in btc but from time to time I did sell it to take profit.. maybe I'll be more patient and wait for this wonderful time to come, if I won't be able to benefit this then maybe my beneficiaries.. lol...so it's better to educate our family now about bitcoin so they'll be aware in the future.

I don't think this is accurate
I have more than 0.3 BTC, but I have this amount splited in web wallets, desktop wallets, exchanges, mobile wallet etc...so there's another people who does the same, and they won't be in this 1% even if they hold more than 0.28

I guess they referenced it from various statistics gathered around the world. Also, they are technically a part of it since it never hinted that "each account must own 0.28BTC or higher". It just said that they must have ownership of 0.28BTC.

There's also the idea of how the supply of 21million would never satisfy a 1BTC per human in the world with its big population, not to mention the vast discrepancy between people who can actually afford to buy and hoard BTC and those who can only buy a few small amounts every now and then.

Statistically? Maybe yes, but in reality, I think no. BTC0.28 is such a small amount and can be easily afford or acquire by anybody ( specially among the Bitcoin hodlers ), I don't consider it as "rich statistically". Also, there are investors who have more than one or two wallets which contains more than the amount you have mentioned.
I might say BTC1 will be considered as rich in cryptospace statistically.

This is not a true reflection of the fact, this is not a large amount of money to be able to reach the 1% of the richest wallets. The reason is that too many Bitcoin wallets with low value are created and one person may own multiple wallet addresses.

This is an interesting statistic to me.  1BTC doesn't seem like a hell of a lot, but you hqve to figure that only 21m people could possibly own that amount, out of billions of people in the world.  It's crazy to think that it would have been so much easier to achieve back in 2015 and earlier--it would have taken only a few hundred dollars at most. 

Ah, how I wish I'd kept all the bitcoin I'd bought a few years ago.  I wouldn't exactly be wealthy, but I'd be well above average in terms of crypto holdings.

It would be easy to achieve those amount back when BTC was so low it seem's to be a small amount but have a really high value right now.
Why do I remember the guy who bought a Pizza for 10,000 BTC when I saw that it only takes 0.28BTC to be in the 1% of the richest Bitcoin holders.

what's the point of saying all this when most people don't listen and only wake up when it is too late. for example i remember distinctly there were a lot of talks along the lines of how much bitcoin should you own to be a millionaire or retire,... in the future when price was less than $300 and majority of people never bothered buying bitcoin. most of those who were starting those discussions were only claiming faucets,... then when price went up 10000% they started waking up and panic bought bitcoin at its peak just to sell it as the bubble popped and lose money!
we are in the same situation today too. nobody is going to make a move (apart from a small group with smart money, obviously) until price is above $100k and they make the same move again to lose money.

If we possibly want to be part of the 1 percent richest in the world when it comes to bitcoin, why not accumulate and strive to reach exactly 1 BTC? I think the portion of it is an incomplete wealth that some could claim in terms of being rich in the cryptocurrency space in the future. With the fact regarding the limited supply of it available to the masses, the value will just be divided to decimal places and obtaining a whole number of bitcoin is one of the greatest achievement one could have in the future when its value or its market price strikes too high.

Does is matter how much bitcoins a person choose to invest? Why should we pressure people to hold at least X bitcoins, we are forgetting the most important rule of investing - invest only what you can afford to lose. Also, pressuring people into investing "buy now until it's too late, it's your last chance to become a millionaire" will only make Bitcoin look suspicious to outsiders, since its the kind of thing that scammers often say.

Last year,I had 0.27 BTC in one wallet (but I sold them) so I was pretty close to the "golden ratio" I guess. ;D
I have never accumulated 1 BTC for one year.The whole sum of my buying,selling and earning activities with bitcoin is about 1.5 BTC from 2015 up until now.Anyway,those "1% richest bitcoin holder" statistics don't mean anything.They are just for entertainment purposes.The daily/monthly/yearly BTC trading volume is a way more important metric.

It's a good motivator to those that still doesn't even own a single bitcoin because they think it's a lot of money for them. Lessening it to 0.28BTC makes it easier for the working class especially to the first world countries.

But for the other nations, that would be a lot. Considering that we only have few more bitcoins left to mine and with a max supply of 21M, I guess that stats was pretty clever and encouraging.

Such a small amount of BTC to be considered one ot the richest Bitcoin holder.
Everyone could do it if they would only save it and hold instead of converting it into Fiat but I guess not everyone could hold onto it since we have bills to pay and family to feed.
But I think we could still do it little by little.

If you really believe that it's possible then why not take a loan.. take a loan payable for one year  so you can get that 0.28 bitcoin  now at a very cheap price. actually there's a lot of ways to acquire that amount of BTC if we are really interested.

Take it from CZ who sold his house to buy bitcoin.

Important to emphasize that this is only related to addresses and assuming that coins in them are owned by a single entity per address
 This is in fact a false assumption.

Custodianship still holds strong with BTC. People deposit their coins to exchanges. We will never truly know how many holders actually do this. Moreover, this can work the opposite way also. Maybe some addresses he funds as part of a loaning scheme, whwre a larger org gives coins to individuals. This is more common in chains where smart contracts run but even with bircoin it can be done through some custodian measures and contractual legal agreements like GBTC does.

Theoretically : Yes
Practically: No

It works by taking out the average but at the same time we need to define a stable line that one might consider for evaluation of people being rich or not , because when we are considering the average there are people who are holding millions worth of bitcoins and there are ones holding only 0.28 BTC , both are very different and incomparable.

At least, you will be one of the richest people who held bitcoin and if bitcoin price increase so high more than $100k, you will be the new richest in your town ;D

But that idea can be real if many people have 0.28 bitcoin in their wallet. If the supply will be less than now, and many people are hard to earn every satoshi, then yes, having 0.28 bitcoin will make us become the richest bitcoin holder.

earning that said amount thesedays is pretty difficult yes knowing that bitcoin prices are now expensive but if you already bought or hold some on the past when btc is still inexpensive , you are lucky because you are honored as one of the richest btc hodlers  .  for me , its not important to claimed a title like that but what important to me is that i am happy to use my bitcoin on a regular basis  . infact i have over 2btc a total of transaction over the past two year course  and most of those i got was from the 2017 era  but now i dont still consider my self rich but its fine 

Totally agree, back in the days earning 1 bitcoin is much easier than today maybe scam projects and hacking from the past affect so much the method of earning bitcoin today making it difficult. Even in trading or doing signature campaigns earning a big amount of bitcoin would be easier way back 2015-2018.

Surely saving your bitcoins or holding your bitcoins is difficult for most of the people, Still we could see the adaptation of cryptocurrency compared to the past years even it becomes difficult for us to earn bitcoin these days.

i think you may be overthinking it. most of those who are holding "millions of dollars worth of bitcoin" do not own those coins and they are holding them on some other people(s) demand. for example the exchanges, payment processors, gambling sites,... and those who actually own a lot of bitcoin are only a handful. so percentage wise you can still be in the top richest bitcoin holders.

From the discussion and comments from other users all I can say is the numbers are no guaranteed to be statistically accurate and are just a speculation.
I think there are more number of factors that would be taken into consideration in future when the top 1% will be calculated.
So let's just leave it to the future and not make any sort of predictions right now since it will just be a waste of time for nothing can be predicted accurately.

Predictions and speculations are not just a waste of time brother because of these speculations and predictions about the percentage of the said number will eventually gives us some clues on what would happen on the near future or what would be happen on the next minute about the value of the tokens.
It is not just leave it to the future because we are the one who are builting the roots for the future users so the predictions and speculations will never just a waste of time.

Don't take this seriously. Just think of this as a milestone for those people aiming for top 1%. Although it's a lot lower than the past years, it's still considerably difficult to achieve if you are living in a third world country so aiming for 1% and getting it is still a good feeling. It's not like he is hyping or something. It doesn't really mean anything.

Yep, good catch there... I think they did use that calculation and I think it is flawed. A very high percentage of the global population is unemployed or too sick to work or they are simply too young to care about money or bitcoins.  ::)

In any way, people distribute their coins over different addresses, so it will be difficult to know how many people actually have more than that amount of coins in total. <Bitcoin anonymity is fabulous .... right>  If this was Fiat currencies, Banks would have told you exactly what the global statistics on wealth would be... but not with Bitcoin.  ;D

Then I only need a few more Bits to be part of the richest Bitcoin holder.
I am a bit curious on how many people are already part of it?
It seem's like a small amount so I wonder how many people have that amount on their wallet.

You might wanna have a look on the Bitcoin rich list - bitinfocharts offers great insight into it.
Looks like the Huobi cold wallet holds 1.40% of the total supply - quite crazy if you think about it. If they would be scammers they could just access the wallets and sell them at market price thus dumping the price like a rock from a mountain top.

You can also see there a nice Bitcoin distribution table so you know how much more Bitcoin you need to advance to the next rank.  ;)

If we reached the top?yeah no doubt that this is applicable but not in this moment because bitcoin price is just below 10$k and having 0.28BTC only amounts $2,500 more or less .
I think when bitcoin prove its value in future and hit at least 6 digits?then that is much appreciated and we can value that Bitcoin greater.but this is a good statement for the community because this is a small amount that we can easily achieved if we really want to.