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Author Topic: Becoming a Bitllionaire!  (Read 1627 times)
Narydu
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February 04, 2013, 10:54:25 AM
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Just thinking that 50k btc at actual price makes you a bitllionaire so perhaps many in our community have all ready accomolished their dream with just some small investment or will soon do so. This dream seams far away for many but its obviously that bitcoin can make it real for you! Sorry, it was just a thought.  Cool

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February 04, 2013, 01:56:23 PM
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The problem is you can't cash out. If you cash out much more than 5,000 coins the market takes a dive.
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February 04, 2013, 02:00:03 PM
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Nah, no more. These days 20k-30k btc dumps are barely noticed by the market
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February 04, 2013, 02:25:39 PM
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Not sure Bitllionaire is the right word.

The prefix in Millionaire indicates 10^6.  The prefix in Billionaire indicates 10^9.  You've removed it and replaced it with something that means a SINGLE binary digit.  So I think if you own a single binary digit, you are a Bitllionaire.

Given that a bitcoin Private Key is made up of 256 of these, and the bitcoin Address can be secured for as little a one satoshi (well, really zero, to be technical - since there's no "buying" of the private key), I would say that if you own a private key, you are a Bitllionaire 256 times over!  And so for a mere 256th of a satoshi, you could be considered a Bitllionaire.


Can you tell I don't like the choice of word?   Wink
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February 04, 2013, 02:30:44 PM
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Nah, no more. These days 20k-30k btc dumps are barely noticed by the market
That's a day's volume, all in sells. I doubt they are "barely noticed".
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February 04, 2013, 02:57:56 PM
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Not sure Bitllionaire is the right word.

The prefix in Millionaire indicates 10^6.  The prefix in Billionaire indicates 10^9.  You've removed it and replaced it with something that means a SINGLE binary digit.  So I think if you own a single binary digit, you are a Bitllionaire.

Given that a bitcoin Private Key is made up of 256 of these, and the bitcoin Address can be secured for as little a one satoshi (well, really zero, to be technical - since there's no "buying" of the private key), I would say that if you own a private key, you are a Bitllionaire 256 times over!  And so for a mere 256th of a satoshi, you could be considered a Bitllionaire.


Can you tell I don't like the choice of word?   Wink

If a person owns at least one satoshi, would that make them a satoshonaire? A nakamonair could be a person who only owns less than a full bitcoin.
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February 04, 2013, 03:30:27 PM
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Wouldn't "Bitllionare" be more like having 10000000002 bitcoins?  In other words, 512 BTC?

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper or hardware wallets instead.
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February 04, 2013, 03:41:32 PM
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Wouldn't "Bitllionare" be more like having 10000000002 bitcoins?  In other words, 512 BTC?
Bi, tri, etc. are Latin-derived prefixes for 2, 3, etc. A bit represents an amount of information such that there are 2 possible states. Bitllionaire is therefore a synonym for billionaire, which also looks equally similar.

OP obviously intended it as a portmanteau of "Bitcoin" and "millionaire", though.
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February 04, 2013, 04:22:28 PM
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Is the double-L silent? How do you pronounce Bitllionaire?

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February 04, 2013, 08:01:23 PM
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Is the double-L silent? How do you pronounce Bitllionaire?

With a tongue twisting pause after Bit.

i find myself adding an extra i. bitillionaire. bit-illion... *shrug*
Narydu
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February 04, 2013, 11:18:25 PM
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Haha, no intention in talking the thread this way but it looks far more interestig than my original post Cheesy

Would be nice to think a way of calling someone when he becomes a millionaire thanks to its bitcoins. Guessing that in the future media will have to adress it very frecuently when speaking about us as early adopters Wink Wink

Bitcoin millionaires is boring and bitllionaires sound better as marketing but i guesss it can mess with billionaire, anyway still a nice word!

In some countries billion stands for 12 not 9 "0".

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February 04, 2013, 11:25:05 PM
 #12

Just thinking that 50k btc at actual price makes you a bitllionaire so perhaps many in our community have all ready accomolished their dream with just some small investment or will soon do so. This dream seams far away for many but its obviously that bitcoin can make it real for you! Sorry, it was just a thought.  Cool

What % you think would own 50k of BTC?? at this moment Huh Huh

I guess 0,01%   Huh of al hoarders, miners, individuals.. Shocked

Put your money were your mouth is…       #coinderdotcom
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February 05, 2013, 01:30:27 AM
 #13

Is the double-L silent? How do you pronounce Bitllionaire?

This should make it easier to pronounce: Bitñonaire. (psy is slackin')
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February 05, 2013, 06:04:21 AM
 #14

Nah, no more. These days 20k-30k btc dumps are barely noticed by the market
That's a day's volume, all in sells. I doubt they are "barely noticed".

Selling 50k over a month would have almost no effect on the price !

Better sell few thousand and continue to hoard the rest for the future buying power it will provide Smiley
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February 05, 2013, 07:40:36 AM
 #15

4 digit wealth for those who accumulated at least a thousand bitcoin. 5 digit wealth for those who accumulated at least 10 thousand bitcoin.

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