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Author Topic: Anyone here part of "1 million club"?  (Read 11823 times)
thejaytiesto
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November 17, 2015, 04:53:24 PM
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Anyone here has 21 BTC or more? I see some people aiming for that as a long term goal and long term hold, I also would like to reach this amount, that is why I hope for the price to stay as low as possible so it's easier to achieve, if it keeps growing it will be impossible for me. I still don't even have 2 figures. There is just something great knowing that you are part of only 1 million people to ever own 21 BTC, I would like that.

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FaucetWorld
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November 17, 2015, 04:58:51 PM
 #2

Anyone here has 21 BTC or more? I see some people aiming for that as a long term goal and long term hold, I also would like to reach this amount, that is why I hope for the price to stay as low as possible so it's easier to achieve, if it keeps growing it will be impossible for me. I still don't even have 2 figures. There is just something great knowing that you are part of only 1 million people to ever own 21 BTC, I would like that.

Being more precise, it never will be 21 million Bitcoin on market .. We have to remember all the lost and forgotten wallet keys Wink.. It is possible that just 20 or even 19 BTC will be enough to be in the "1 Million Club" Wink
thejaytiesto
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November 17, 2015, 05:11:46 PM
 #3

Anyone here has 21 BTC or more? I see some people aiming for that as a long term goal and long term hold, I also would like to reach this amount, that is why I hope for the price to stay as low as possible so it's easier to achieve, if it keeps growing it will be impossible for me. I still don't even have 2 figures. There is just something great knowing that you are part of only 1 million people to ever own 21 BTC, I would like that.

Being more precise, it never will be 21 million Bitcoin on market .. We have to remember all the lost and forgotten wallet keys Wink.. It is possible that just 20 or even 19 BTC will be enough to be in the "1 Million Club" Wink

Indeed, that makes it even more valuable, but it's nice to own 21, because 21 million is the total generated supply, nonetheless you are right, also, we will all be dead before 21 million coins are mined, so you have to subtract not only the keys that are forever lost but the non generated coins (mined) coins too.

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November 17, 2015, 06:05:25 PM
 #4

I think there are around 200,000 ULTRA HIGH NET WORTH INDIVIDUALS (over 30 million USD net worth) in the world... the dream number I wish I could reach in BTC was 1/200,000 of total supply.

STEEP! Even at today's prices! Sad
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November 17, 2015, 07:04:20 PM
 #5

I think there are around 200,000 ULTRA HIGH NET WORTH INDIVIDUALS (over 30 million USD net worth) in the world... the dream number I wish I could reach in BTC was 1/200,000 of total supply.

STEEP! Even at today's prices! Sad


It's impossible now unless you go back in time. All of these guys had luck, had vision, or had both. We can't do nothing about it. What we know is, the technology is solid and will disrupt the world, and we know we are here now, way ahead of the pack. Let's try to make the best out of it. You can still be 1/500,000 if you own 42 BTC.

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November 17, 2015, 08:10:17 PM
 #6

1/500,000 would be pretty nice!!! Maybe one day.

 Cool


I think there are around 200,000 ULTRA HIGH NET WORTH INDIVIDUALS (over 30 million USD net worth) in the world... the dream number I wish I could reach in BTC was 1/200,000 of total supply.

STEEP! Even at today's prices! Sad


It's impossible now unless you go back in time. All of these guys had luck, had vision, or had both. We can't do nothing about it. What we know is, the technology is solid and will disrupt the world, and we know we are here now, way ahead of the pack. Let's try to make the best out of it. You can still be 1/500,000 if you own 42 BTC.
Decoded
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November 17, 2015, 08:46:18 PM
 #7

"What's 9 + 10? 21."

This is why I'm currently holding 21 bitcoins. If bitcoin drops, maybe I might buy 210, but who knows, bitcoin could jump to 1k.



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David Rabahy
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November 17, 2015, 09:02:14 PM
 #8

I have never mined a single Satoshi; it was too late to do it without considerable effort; not interested; good luck to all miners.  I do have a miner USB card but it runs hot and is hard to keep going.  I would rather solo mine and get nothing than pool.

I was given a physical Bitcoin as a gift; cost my son around $16 (worth over $300 at the moment); best gift I ever got; got me interested.

I purchased my Bitcoins through various exchanges; I am not revealing the total amount; sorry.

I invested in the SecondMarket Bitcoin Investment Trust (BIT) and it should soon achieve liquidity as GBTC via a standard retirement account at a standard brokerage firm.

Even today someone could come to Bitcoin for the first time and just buy 21 Bitcoins; *only* about $7k.
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November 17, 2015, 10:42:42 PM
 #9

I have never mined a single Satoshi; it was too late to do it without considerable effort; not interested; good luck to all miners.  I do have a miner USB card but it runs hot and is hard to keep going.  I would rather solo mine and get nothing than pool.

I was given a physical Bitcoin as a gift; cost my son around $16 (worth over $300 at the moment); best gift I ever got; got me interested.

I purchased my Bitcoins through various exchanges; I am not revealing the total amount; sorry.

I invested in the SecondMarket Bitcoin Investment Trust (BIT) and it should soon achieve liquidity as GBTC via a standard retirement account at a standard brokerage firm.

Even today someone could come to Bitcoin for the first time and just buy 21 Bitcoins; *only* about $7k.

I agree with you that is very unwise to uncover the total amount of bitcoins that you own. It makes you an easier target to the hackers.

21 bitcoins is a nice and decent amount to have, I agree with the OP. Yes, this cost around $7k at the moment, but this is a quite a lot of money to invest straight up into Bitcoin, even if you live in the western, developed country! Unless you are considerable rich and you can afford to lose this amount of money easily!

Of course, these are my 2 cents!
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November 18, 2015, 08:22:25 AM
 #10

i was above the 1/500k club, but then sold a bunch, now i'm around that

i regret having sold those coins, but i needed the money so bad in the past

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hopenotlate
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November 18, 2015, 08:31:42 AM
 #11

Never heard about that "exclusive" club before reading this.
I managed to accumulate some bitcoins and stored them safely (at least I hope lol) but far from being part of the 1M club.

Now I have a target to reach, it make sense joining the Club imho.
Hard to manage for me anyway but ... not being in hurry  could turn comfortable the hard way to go.

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November 18, 2015, 12:51:49 PM
 #12

I think there are around 200,000 ULTRA HIGH NET WORTH INDIVIDUALS (over 30 million USD net worth) in the world... the dream number I wish I could reach in BTC was 1/200,000 of total supply.

STEEP! Even at today's prices! Sad


The total market cap of all fiat currencies (~$60trn) split between 200k people is $300m each, not $30m. If bitcoin takes over all existing currencies you therefore only need one two-millionth of the supply in order to have $30m worth, which is only 10.5 coins.
Snorek
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November 18, 2015, 02:05:55 PM
 #13

i was above the 1/500k club, but then sold a bungh, now i'm around that

i regret having sold those coins, but i needed the money so bad in the past
I am in similar situation I put my every penny in bitcoin in hope it will rise fast and now I have to sell it whenever I need 'normal' money for my living expenses.
When I will keep monetizing my coins like that then I guess I won't reach ever high bitcoin number.
Lokfar
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November 18, 2015, 02:51:16 PM
 #14

I don't, but maybe someday I will

Until then, I'll keep working towards that point  Tongue
cellard
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November 18, 2015, 03:34:21 PM
 #15

I have never mined a single Satoshi; it was too late to do it without considerable effort; not interested; good luck to all miners.  I do have a miner USB card but it runs hot and is hard to keep going.  I would rather solo mine and get nothing than pool.

I was given a physical Bitcoin as a gift; cost my son around $16 (worth over $300 at the moment); best gift I ever got; got me interested.

I purchased my Bitcoins through various exchanges; I am not revealing the total amount; sorry.

I invested in the SecondMarket Bitcoin Investment Trust (BIT) and it should soon achieve liquidity as GBTC via a standard retirement account at a standard brokerage firm.

Even today someone could come to Bitcoin for the first time and just buy 21 Bitcoins; *only* about $7k.

The fact that you already have to pay $7K to be part of this club already tells us something important: The initial investment is high enough so that it's extremely prohibitive to pretty much everyone who isn't already pretty wealthy. And even those at the upper class with good wealth, would be reticent to invest that much into BTC because they don't understand it and see it as very risky.

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FaucetWorld
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November 18, 2015, 04:26:29 PM
 #16

Anyone here has 21 BTC or more? I see some people aiming for that as a long term goal and long term hold, I also would like to reach this amount, that is why I hope for the price to stay as low as possible so it's easier to achieve, if it keeps growing it will be impossible for me. I still don't even have 2 figures. There is just something great knowing that you are part of only 1 million people to ever own 21 BTC, I would like that.

Being more precise, it never will be 21 million Bitcoin on market .. We have to remember all the lost and forgotten wallet keys Wink.. It is possible that just 20 or even 19 BTC will be enough to be in the "1 Million Club" Wink

Indeed, that makes it even more valuable, but it's nice to own 21, because 21 million is the total generated supply, nonetheless you are right, also, we will all be dead before 21 million coins are mined, so you have to subtract not only the keys that are forever lost but the non generated coins (mined) coins too.

No way! Wink With so fast increasing power to mine Bitcoin, all Bitcoins will be mined in around 15 years! Are you so old to be afraid not reach this age Wink
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November 18, 2015, 04:44:03 PM
 #17


Indeed, that makes it even more valuable, but it's nice to own 21, because 21 million is the total generated supply, nonetheless you are right, also, we will all be dead before 21 million coins are mined, so you have to subtract not only the keys that are forever lost but the non generated coins (mined) coins too.

No way! Wink With so fast increasing power to mine Bitcoin, all Bitcoins will be mined in around 15 years! Are you so old to be afraid not reach this age Wink

That's not how mining works my friend!
FaucetWorld
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November 18, 2015, 04:57:56 PM
 #18


Indeed, that makes it even more valuable, but it's nice to own 21, because 21 million is the total generated supply, nonetheless you are right, also, we will all be dead before 21 million coins are mined, so you have to subtract not only the keys that are forever lost but the non generated coins (mined) coins too.

No way! Wink With so fast increasing power to mine Bitcoin, all Bitcoins will be mined in around 15 years! Are you so old to be afraid not reach this age Wink

That's not how mining works my friend!

Smiley I dont understand your comment.. Are you suggest that i don't know how work mining proces? Smiley Maybe you know better, but if so - check this please:
"The last block that will generate coins will be block #6,929,999 which should be generated at or near the year 2140. The total number of coins in circulation will then remain static at 20,999,999.9769 BTC."

I wrote 15 years beacuse i expect that in next 5-10 years will be invented something 100 times more powerfull than ASIC.
I hope now this is more clear Smiley
David Rabahy
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November 18, 2015, 05:44:41 PM
 #19

I wrote 15 years beacuse i expect that in next 5-10 years will be invented something 100 times more powerfull than ASIC.
If/when more powerful miners come out, even 100x the current best ASIC, then the protocol will detect the increase and increase the difficulty to keep the average 10 minutes between blocks.
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November 18, 2015, 06:06:12 PM
 #20


Indeed, that makes it even more valuable, but it's nice to own 21, because 21 million is the total generated supply, nonetheless you are right, also, we will all be dead before 21 million coins are mined, so you have to subtract not only the keys that are forever lost but the non generated coins (mined) coins too.

No way! Wink With so fast increasing power to mine Bitcoin, all Bitcoins will be mined in around 15 years! Are you so old to be afraid not reach this age Wink

That's not how mining works my friend!

Smiley I dont understand your comment.. Are you suggest that i don't know how work mining proces? Smiley Maybe you know better, but if so - check this please:
"The last block that will generate coins will be block #6,929,999 which should be generated at or near the year 2140. The total number of coins in circulation will then remain static at 20,999,999.9769 BTC."

I wrote 15 years beacuse i expect that in next 5-10 years will be invented something 100 times more powerfull than ASIC.
I hope now this is more clear Smiley

You don't understand how mining works:



There will be halvings until 2140... it's just that at around 2030 the coin reward will be so small that the total supply will be mostly mined, but not 100% mined until 2140. By 2030 anyone holding 21 BTC+ will be RICH.

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