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2161  Economy / Economics / Re: In 10 years, when BTC is mainstream what % of people will own 1 BTC on: September 23, 2014, 04:57:41 PM
do you mean the % of humans on the planet, or the % of bitcoin users?

it's impossible for more than 0.295% of the world population to ever have 1 bitcoin, so if bitcoin becomes mainstream, everyone with 1 bitcoin will be the top 0.295% at the least.

but this is assuming 21 million people all have 1 bitcoin, but of course some people have more than 1 bitcon, and many people have less.

so in reality, even less than 0.295% of the world population will have 1 bitcoin. The distribution may be something like this

Top 20% (of world population)
owns about 0.011 (11 millibitcoin) on average. (note that this is the UPPER CLASS)

they have a total of about 15 million bitcoin combined

High 20%
owns an average of 0.0025 bitcoin per person (2.5 millibitcoin)

they have just over 3.5 million bitcoin combined

Middle 20%
average of 0.00075 bitcoin (0.75 millibitcoin)

they have just about a million bitcoin combined (divided over 1.43 billion people!) Note that this is 'middle class'. Having 1 bitcoin would mean you're about 1333 times richer than middle class!

Low 20%
they own just about 200,000 bitcoin combined, each of them having an average of about 0.00015 bitcoin (0.15 millibitcoin)

Bottom 20%

the bottom 1 430 000 000 people will have less than 0.000075 (7500 satoshi) each, their entire 'fortune' is what we now refer to as 'dust'.
The total amount of bitcoin in the bottom 20% of the world will be hardly even 100,000 bitcoin


do you see why many of us think 1 bitcoin would be 1 million+ in value? They are more scarce than you'd think.

this is correct from the math standpoint, but cannot be correct from the social standpoint.
0.01BTC is way too small amount for the top 20%. BTC has to be at $10-50 mil for it to be possible from the social standpoint. There are other possible solutions:
1. bitcoin derivatization like fractional banking system where there will be a <home>coin that will be derived at 1:100 from btc, people will use homecoin, but banks will hold certain percentage of btc against the value of homecoin.
2. more than 21 mil will be printed/mined.
3. a coin with more than 21 mil units will take over.

None of your options makes sense.

0.01 bitcoin may sound small, but it can't be much higher because simply, there is not more than that to go around. And there won't be, that's the point.

Deravatis and fractional reserve is very bad for bitcoin and it will not and should not happen on a large scale with bitcoin. The philosophy of 'if you don't own the private key, you don't own the bitcoin' needs to stay strong.

Also, they will probably count in satoshies by then. Because 1 bitcoin would be so extremely expensive that it's not practical to count in bitcoin. You might as well count in the number of ferraris you own.

So, rich people will own millions of satoshi, while average people own a couple of thousands or hundred thousands. So there's no problem in only having 21 million full bitcoin, because we can just count in fractions of it.

For 0.01 to be valuable, we'll need to see a level of adoption to the point entire salaries are paid in BTC. Unless we see a full economy going based on Bitcoin (with jobs paid in BTC, and BTC not being a fucking crazy rollercoaster), and we see this at a massive scale, then maybe someday 1 BTC puts you on a pedestal. By then you'll probably be on a casket tho.
2162  Economy / Economics / Re: Easiest way to make BTC? on: September 23, 2014, 04:51:14 PM
some people here makes BTC by scamming and it is easy. believe me. Ive been scammed twice already

How did you get scammed, specifically?
2163  Other / Meta / Re: There should be a public list of sold/bought accounts on: September 23, 2014, 04:39:50 PM
We can make an unofficial list in Off-Topic board. Some people publicly admitted they bought/sold their account.

And they'll stop saying so inmediately if they are threatened with bans.


There are other forums besides this to advertise whatever accounts you want to sell if you are a seller, so reading PM's is pretty much pointless as well. It's a dead end. The best you can do is deal with it.
2164  Bitcoin / Bitcoin Discussion / Re: BBC Paints Dark Wallet as working directly with ISIS on: September 23, 2014, 03:57:22 PM
Getting bored of people saying BTC can do illegal things... as opposed tooooo.... your non illegal USD?

SORRY BRUH CANT BUY THAT GUN... USD POLICY
Don't be delusional, moving money with BTC (and now Dark Wallet) is extremely easier than moving physical cash from A to B.
2165  Other / Meta / Re: My friend got banned. Why? on: September 23, 2014, 03:49:33 PM
Can't really blame these people, can you? From what i've gathered from browsing this forum and forums about "how to make BTC" sort of thing, signature campaing ads are what paids better. If there were other ways for normal people (what one would call, the 99%) to obtain BTC besides risking actual money, then maybe, maybe the price of Bitcoin wouldn't be tanking as we speak. The Joes of the world are never going to risk their hard earned wage money in this, and without them Bitcoin will never take over. "Who cares if I have to work for Mr Rothchild or Mr Rpietila or whoever won the early adopter lotery? im going to be a wageslave anyway."
2166  Other / Beginners & Help / Re: BTC Transaction time on: September 23, 2014, 03:40:44 PM
It takes ages unless you spend more than the default set miner fee. I think about 25 minutes at default fee.
2167  Other / Beginners & Help / Been browsing for months and contemplating owning a couple BTC, but... on: September 23, 2014, 03:32:28 PM
I still don't see the point. All i've learned is BTC can be a great way to store value, as in an e-metal. But other than that... I don't see why or how the average citizen would need BTC, beyond wanting to store wealth and hope it goes up as best case scenareo, just like I do with metals and other assets. Why would Mr Joe the janitor want to buy BTC? or why would he want to prefer being paid in BTC rather than FIAT?
Why would the average Joe family want to risk their hard earned money by buying BTC? How would their life change for the better? Exactly, their life is exactly the same.
The only people that improved their lifes with BTC are because they were here before it went 3 figures, that's all.
Not saying the technology is great, im just saying, I don't see how most people is going to care about BTC, and without "most people" in the boat... well, just look at the price.
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