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Author Topic: The New Bitcoin Millionaires Club  (Read 2669 times)
yayayo
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December 28, 2016, 11:52:54 PM
 #21

With a hard set total supply limit of 21 million Bitcoins, excluding those not already mined and others that have been lost, there can only ever be a maximum of 1 million Bitcoin owners who own equal to or more than 21 Bitcoins.

Do you class them as the new Bitcoin millionaires?

Per definition a Bitcoin millionaire can only be a person who owns at least one million Bitcoin.

Even if you mistakenly measure wealth in fiat trash money, this thread is nonsense speculation and a great example of excessive optimism during market moves. So a correction may follow quite soon.

Measuring wealth in fiat money makes no sense, because fiat money is subject to significant monetary inflation. I'm quite sure that in the more distant future, 21 BTC might be valued at 1 million USD. However the buying power of the USD will be much lower by then.

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December 29, 2016, 12:44:32 AM
 #22

I think there are really bitcoin millionaires
because other people has a lot of bitcoin and
when they use or sell those bitcoin it will give them
a lot of money.
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December 29, 2016, 01:22:05 AM
 #23

Bitcoin needs to reach $50000 for this to happen. Entirely possible if you ask me  Smiley

Tell me, Are you sure we are still alive at the price of bitcoin is touching $5000?  Smiley

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December 29, 2016, 02:36:48 AM
 #24

21 bitcoin becomes a millionaire? possibly need to wait 10 years, or 20 years? maybe by that time the millionaire is nothing special because of the inflation? I'd hold gold in that case, which possibly appreciate more.


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December 29, 2016, 02:44:16 AM
 #25

Given the price of bitcoin today and comparing it to those who hold 21 btc they cannot still be considered bitcoin millionaires. Let us say that the price of bitcoin right now is 1k $ and multiply it by 21 btc, the holder will only have 21,000 $  and they cannot still be considered millionaire. If they have 1000 bitcoins multiplied it by the reate of 1k $ per bitcoin then you will have a 1 million dollars at hand. So the person to be considered to be a bitcoin millionaire are those holding 1000 bitcoins or more if bitcoin reaches 1k $ each in value.

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December 29, 2016, 04:28:13 AM
 #26

With a hard set total supply limit of 21 million Bitcoins, excluding those not already mined and others that have been lost, there can only ever be a maximum of 1 million Bitcoin owners who own equal to or more than 21 Bitcoins.

Do you class them as the new Bitcoin millionaires?

maybe yes and maybe no, because its depend on the price of bitcoin itself, if the price is like the price now or more than the price now, then i am sure they are the new bitcoin millionaires but if the price is down into the down like the years when bitcoin is launch, then they only part of the owners of bitcoin.

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December 29, 2016, 03:43:23 PM
 #27

With a hard set total supply limit of 21 million Bitcoins, excluding those not already mined and others that have been lost, there can only ever be a maximum of 1 million Bitcoin owners who own equal to or more than 21 Bitcoins.

Do you class them as the new Bitcoin millionaires?
There are really bitcoin millionaires since some of them possessing more than 21 bitcoins and I can't consider that 21 btc owners would be included on millionaires list,well if we are talking or basing on the supply then it would do but we talk in value then it's not possible.

He means in order to have at least 1 millionth of a share in bitcoins total you will need to own at least 21.

I hope one day to be one how cool would that be. I must save save save and invest invest invest in order to get there though ^^

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December 29, 2016, 03:58:50 PM
 #28

All you need to be a millionaire is 21btc? The wallets I have with the least amount of btc have more than 21 in them. I think you need to check your maths. LOL

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December 29, 2016, 07:42:57 PM
 #29

Bitcoin needs to reach $50000 for this to happen. Entirely possible if you ask me  Smiley
The problem like always is when, if that is your prediction for the next 100 years then that could happen very easily with just inflation, but for that price to be reached in the next 10 years we will need a huge jump in adoption.



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December 31, 2016, 01:17:55 AM
 #30

There would only ever be that if BTC is fully mined with no additional service updates, who knows one day Satoshi might drill up a new dozen halves to crack.

I'm sure there are a couple thousand Bitcoin millionaires, and the founder also stashed a million or so as well.

For this to happen the growth would have to continue over the next 20-50 years once the economy establishes.

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