jonald_fyookball (OP)
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Activity: 1302
Merit: 1004
Core dev leaves me neg feedback #abuse #political
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July 29, 2015, 02:19:51 PM |
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I'm thinking if there's a million holders, price will go up.
if there's ten million holders, price will go WAY up.
I don't see why more people hold bitcoins more the price will be high. Or better. The number of holder is not enough to increase itself the price. If they will use the bitcoins they hold then it will be the possibility that the price go high. If bitcoin will be dead money and no one will use it the price will remain the same or will go down. because supply and demand. If you had 11 million people holding 2 bitcoin that refused to sell their last coin for less than $1M, then that would be the price. |
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chesthing
Legendary
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Activity: 1414
Merit: 1000
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July 29, 2015, 03:37:31 PM |
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I'm thinking if there's a million holders, price will go up.
if there's ten million holders, price will go WAY up.
I don't see why more people hold bitcoins more the price will be high. Or better. The number of holder is not enough to increase itself the price. If they will use the bitcoins they hold then it will be the possibility that the price go high. If bitcoin will be dead money and no one will use it the price will remain the same or will go down. because supply and demand. If you had 11 million people holding 2 bitcoin that refused to sell their last coin for less than $1M, then that would be the price. That would be the price, with exactly zero volume. A bunch of holders sitting around waiting for a price to rise does not result in a rise. |
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jonald_fyookball (OP)
Legendary
Offline
Activity: 1302
Merit: 1004
Core dev leaves me neg feedback #abuse #political
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July 29, 2015, 03:40:15 PM |
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I'm thinking if there's a million holders, price will go up.
if there's ten million holders, price will go WAY up.
I don't see why more people hold bitcoins more the price will be high. Or better. The number of holder is not enough to increase itself the price. If they will use the bitcoins they hold then it will be the possibility that the price go high. If bitcoin will be dead money and no one will use it the price will remain the same or will go down. because supply and demand. If you had 11 million people holding 2 bitcoin that refused to sell their last coin for less than $1M, then that would be the price. That would be the price, with exactly zero volume. A bunch of holders sitting around waiting for a price to rise does not result in a rise. True, but the point still applies... If millions of people all want to have at least a Bitcoin, price is going to rise tremendously as supply can't keep up with demand. |
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Dilla
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July 29, 2015, 05:37:33 PM |
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^it will get there one day.
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Brewins
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Activity: 1120
Merit: 1000
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July 29, 2015, 07:21:41 PM |
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No way to know because someone can have as many address and he wishes and there are off chain transactions and lost or abandoned coins. You can only find a higher limit.
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eerygarden
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July 29, 2015, 07:47:43 PM |
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There are 523083 registered members here so from that I deduce about 7 people hold bitcoin.
This is clearly wrong. It's obviously 58008, the best number to type in to a calculator. |
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Odalv
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Activity: 1400
Merit: 1000
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July 29, 2015, 08:10:32 PM |
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I think there are only 1% or maybe less people of the world which are holding and having bitcoins.
1% from 7b is 70 000 000. I do not believe that there is more than 700 000 people having bitcoins. |
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juju
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July 29, 2015, 08:38:40 PM |
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This will be the closest for you to determine: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html The number is between 1 and the Number of Addresses holding coins. Several addresses can be owned by one user so its practically impossible to determine how much a given person actually owns. Unless you know all their addresses. |
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mrhelpful
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Activity: 1456
Merit: 1002
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July 29, 2015, 08:58:48 PM |
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You gotta factor the loss coins too!
And the stolen ones as well, but overall you can see it based on the top richest address page or circulation tab on blockchain.
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inca
Legendary
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Activity: 1176
Merit: 1000
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July 30, 2015, 12:09:21 AM |
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This will be the closest for you to determine: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlThe number is between 1 and the Number of Addresses holding coins. Several addresses can be owned by one user so its practically impossible to determine how much a given person actually owns. Unless you know all their addresses. What this table shows is how poorly distributed bitcoin still is. To be expected given the Pareto principle. |
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Biodom
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Activity: 3738
Merit: 3844
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July 30, 2015, 01:06:28 AM
Last edit: July 30, 2015, 01:17:26 AM by Biodom |
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This will be the closest for you to determine: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlThe number is between 1 and the Number of Addresses holding coins. Several addresses can be owned by one user so its practically impossible to determine how much a given person actually owns. Unless you know all their addresses. What this table shows is how poorly distributed bitcoin still is. To be expected given the Pareto principle. 1. it is super Pareto- 93% coins in 2.3% accounts. Realistically, it isprobably even less- 0.5-1% since people might use multiple accounts. 2. Excesses over Pareto (80/20) will smooth out over time, I believe. |
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coinableS
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Activity: 1442
Merit: 1179
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July 30, 2015, 01:27:55 AM |
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This will be the closest for you to determine: https://bitinfocharts.com/top-100-richest-bitcoin-addresses.htmlThe number is between 1 and the Number of Addresses holding coins. Several addresses can be owned by one user so its practically impossible to determine how much a given person actually owns. Unless you know all their addresses. What this table shows is how poorly distributed bitcoin still is. To be expected given the Pareto principle. I would assume this is expected to change in the future. As the price increases people will sell either for fiat or for assets. If you look at the block halvings schedule we are still VERY early in the game. | YEARS | BLOCK REWARD | COINS DISTRIBUTED | TOTAL DISTRIBUTED | | 2009-2012 | 50 | 210,000 blocks = 10,500,000 | 10,500,000 | | 2012-2016 | 25 | 210,000 blocks = 5,250,000 | 15,750,000 | <-- We're still way up here | | 2016-2020 | 12.5 | 210,000 blocks = 2,625,000 | 18,375,000 | | 2020-2024 | 6.25 | 210,000 blocks = 1,312,500 | 19,687,500 | | 2024-2028 | 3.125 | 210,000 blocks = 656,250 | 20,343,750 | | 2028-2032 | 1.5625 | 210,000 blocks = 328,125 | 20,671,875 | | 2032-2036 | 0.78125 | 210,000 blocks = 164,062.5 | 20,835,937.5 | | 2036-2040 | 0.390625 | 210,000 blocks = 82,031.25 | 20,917,968.75 |
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manselr
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Activity: 868
Merit: 1004
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July 30, 2015, 05:39:14 PM |
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There are 523083 registered members here so from that I deduce about 7 people hold bitcoin.
This is clearly wrong. It's obviously 58008, the best number to type in to a calculator. It's impossible to know, we don't know the number of alts and we don't know how many addresses belong to the same person. Essentially, much less than we could imagine, which makes us even richer in the future. We are pioneers, not mega super early adopters but still pioneers. |
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