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Author Topic: 1 in a million (updated for 2018-1)  (Read 6114 times)
romero121
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March 05, 2017, 03:32:46 PM
 #81

being one in a million is one of those interesting topics in bitcoin if you ask me. we all know that there will only be 21 million maximum bitcoins available (ignoring the number of coins lost).

so if you have 21 bitcoins you can be one in a million.

now we all know there are 7.5 billion people in the whole world and there is a very limited supply of bitcoin available.

The following is the cost of being 1 in a million throughout the past years.
* bubbles are ignored and price is average

Year|21BTC cost
2008-2010|Practically free!
2010|$3.7
2011|$84
2012|$188
2013|$2,200
2014|$9,030
2015|$5,670
2016|$12,117
2017|$21,210 Today's price

when you look at things like that, they seem pretty ridiculous that once you could be 1 in a million with only 3 bucks but today you have to pay 21 grand to be 1 in a million

Maybe the next question is, "what will be the future price of bitcoin?" It is easy to predict the increase, but it is very hard to make an approximate price prediction. Even regression models is not reliable.
The future price is expected to stand above $1000. The price prediction cannot be made approximately, because everything happens without any notification. Also unexpected reality happens with bitcoin.

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March 05, 2017, 05:19:40 PM
 #82

I wish i started mining and bying bitcoins back in 2010 like the early adopters.
I was pretty stupid at that time. Angry
I don`t know what`s the point of this "research"?Do you have 21 btc?
I will never have 21 bitcoins.

When I watching this list that OP presented us I wish I started mining, buying, I would even claim bitcoins from faucets back in 2010. I can`t say I was stupid back then, I just wasn`t aware of bitcoin in that time even I was very active on internet.
Back then was much easier to make 21 btc, now its harder but its not impossible I think. I wonder how will this list look like for 10 years, when I watch this list I have a feeling that bitcoin can really go to the sky in next 10 years. Thanks for this awesome list and reminder my friend.

There is no reason to say "I wish" because what is important is we know bitcoin in all of the people living in this world, we are lucky because we are earning bitcoin right now, compare to those people out there who only know fiat and nothing more. So, there is no reason to regret what we didn't do in the past, because it is the present that will lead us to mold our future, so, whatever what we are doing right now to earn bitcoin, we must continue on doing it, and no matter how much bitcoin do we have right now, we must save it, and just spend it on the things that we really needed.

Because if we spent our bitcoin just to buy the things that we want, then the next time, we are going to sell what we need to buy something that we want.

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March 16, 2017, 02:21:00 AM
 #83

I will never have 21 bitcoins.

If you say you'll never have 21 bitcoins, you're right...you never will.

Where's your confidence?

Don't get stuck in the past! Think about where we are today and how lucky you'll be in 5 or 10 years that you knew about bitcoin today. What can you save in a month? Take that money and buy bitcoin. Fractions every moth add up to a whole in surprisingly quick time. Just make it automatic and stop discouraging yourself!

Yup you are right. We must forget the past and move on. Even me has regrets because Ive heard Bitcoin 3 years ago and do nothing about it because I doubted it and think it has no potential. We may not earn 21 BTC in an instant but keep moving forward. At least save up money monthly and invest it on bitcoin. Im not building illusions I'm just saying what we can do at the meanwhile. We all have regrets but that's how we grow, that's why we learn. Have faith in yourself do the work and believe, negativity will bring you down. Look at the brighter side of the future.

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March 16, 2017, 02:26:15 AM
 #84

I never really understood why it's one in a million.
Either you own some or you don't. Roll Eyes

Your the selective few if you own over 500 BTC to me.
This to me is a hard copy fact.  Smiley



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March 16, 2017, 04:03:55 AM
 #85

being one in a million is one of those interesting topics in bitcoin if you ask me. we all know that there will only be 21 million maximum bitcoins available (ignoring the number of coins lost).

so if you have 21 bitcoins you can be one in a million.

now we all know there are 7.5 billion people in the whole world and there is a very limited supply of bitcoin available.

The following is the cost of being 1 in a million throughout the past years.
* bubbles are ignored and price is average

Year|21BTC cost
2008-2010|Practically free!
2010|$3.7
2011|$84
2012|$188
2013|$2,200
2014|$9,030
2015|$5,670
2016|$12,117
2017|$21,210 Today's price

when you look at things like that, they seem pretty ridiculous that once you could be 1 in a million with only 3 bucks but today you have to pay 21 grand to be 1 in a million

Wow, some interesting stats you have got there.

I'd say that one in a million was really easy to achieve when I first got into bitcoin. I bought like 5 bitcoins for less than $200 at the start of my bitcoin journey, and that was pretty much like 1 in a million I think. It was crazy cheap looking back right now.

It just shows how much we have gone through from the start of bitcoin to right now. We have achieved a lot as a community and the price has risen a lot too to reward those who bought into bitcoin.

If i had the chance to time travel, my top priority would be go back in time and buy 100 PCs and mine all the bitcoins in the world, lol.

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March 16, 2017, 04:16:37 AM
 #86

That's something interesting to be one in million bitcoin users. Early adopters were more lucky to be the one in million. Now too it's not that late, so planning now to will make people one in million before the 21million coins get mined. Some saving regularly from the day job earning is more than enough to achieve this.


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March 16, 2017, 04:41:26 AM
 #87

being one in a million is one of those interesting topics in bitcoin if you ask me. we all know that there will only be 21 million maximum bitcoins available (ignoring the number of coins lost).

so if you have 21 bitcoins you can be one in a million.

now we all know there are 7.5 billion people in the whole world and there is a very limited supply of bitcoin available.

The following is the cost of being 1 in a million throughout the past years.
* bubbles are ignored and price is average

Year|21BTC cost
2008-2010|Practically free!
2010|$3.7
2011|$84
2012|$188
2013|$2,200
2014|$9,030
2015|$5,670
2016|$12,117
2017|$21,210 Today's price

when you look at things like that, they seem pretty ridiculous that once you could be 1 in a million with only 3 bucks but today you have to pay 21 grand to be 1 in a million
That makes the difference between early birds and late comers.Hope we are not too late since most of the world population are not still familiar with bitcoins.I too have a dream of joining the 21 Btc group,but now i dont even own a single bitcoin.


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March 16, 2017, 05:19:00 AM
 #88

~
That makes the difference between early birds and late comers.Hope we are not too late since most of the world population are not still familiar with bitcoins.I too have a dream of joining the 21 Btc group,but now i dont even own a single bitcoin.

you don't need to worry about being too late yet!
yes obviously you have lost a lot of good opportunities so far to buy cheaper coins but it is not yet late. price is rising and we are not yet at a mass adoption stage.

also i must add, there is no need to have 21 bitcoin, it obviously is so good to have though. having even 1 bitcoin or half a bitcoin is going to be good enough to be involved with bitcoin and the future.

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March 16, 2017, 06:17:37 AM
 #89

Upon seeing the chart made by op well I just that I was one of those people that bough thousands or even hundreds of bitcoin. For sure right now I'm just enjoying around with my newly invested projects or business and gladly to be thankful with bitcoin. But the fact right now is I've got only a very few coins, wishing that I can even reach 2 digits quantity of btc.

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March 16, 2017, 06:32:26 AM
 #90

I really wish i could go back in time and go to the first stage in your post where being that 1 in one million is practically free... All you needed was a beaten up laptop and a slow as fuck internet connection, and you could still mine bitcoin efficiency, lol.

Fast forward to 2017, there are registered companies operating massive scale mining operations. New hardware comes out every year... The difficulty just goes up and up every single day and the network is growing in size.

It's costly to get that 1 in a million coins now which is now under 20 bitcoins. An average worker won't be able to save up in a year for that amount.














 

 

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March 16, 2017, 07:09:32 AM
 #91

being one in a million is one of those interesting topics in bitcoin if you ask me. we all know that there will only be 21 million maximum bitcoins available (ignoring the number of coins lost).

so if you have 21 bitcoins you can be one in a million.

now we all know there are 7.5 billion people in the whole world and there is a very limited supply of bitcoin available.

The following is the cost of being 1 in a million throughout the past years.
* bubbles are ignored and price is average

Year|21BTC cost
2008-2010|Practically free!
2010|$3.7
2011|$84
2012|$188
2013|$2,200
2014|$9,030
2015|$5,670
2016|$12,117
2017|$21,210 Today's price

when you look at things like that, they seem pretty ridiculous that once you could be 1 in a million with only 3 bucks but today you have to pay 21 grand to be 1 in a million
Higher price of bitcoin seems like double edge sword for bitcoin, early adopters which most advantaged because they have many bitcoin but right now, who does not have big funds cannot purchase BTC21, be 1 in a million. Furthermore, higher fees for send bitcoin become another problem which people will consider to using fiat money instead of buy bitcoin. In the other words, for me, bitcoin become a commodity/object of investment, not a currency.

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March 16, 2017, 07:49:20 AM
 #92

Higher price of bitcoin seems like double edge sword for bitcoin, early adopters which most advantaged because they have many bitcoin but right now, who does not have big funds cannot purchase BTC21, be 1 in a million.
well, the whole point is showing only 1 million people can have 21 bitcoin and there would be nothing left for anyone else. and 21BTC is a very small number and paying even 21K for it is still a very small price to pay. you should think of it as buying 10 times cheaper compared to for example 2021.

and besides as I always say and others also mentioned in this topic, you don't have to buy 21 bitcoins, just invest what you can and feel safe with and be 1 in 10 million or so on. but know that every year it is getting more and more late to get in.

Furthermore, higher fees for send bitcoin become another problem which people will consider to using fiat money instead of buy bitcoin. In the other words, for me, bitcoin become a commodity/object of investment, not a currency.
this part is off topic here!

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March 16, 2017, 08:09:32 AM
 #93

Thats insane, i bought a bunch of bitcoin long time ago and i didnt believe that we get into today
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March 16, 2017, 08:40:53 AM
 #94

You don't have to own 21 btc to be one in a million. People who own bitcoin is just a few million. And some early adopters already hold thousands of bitcoins and millions are already lost. So even if you own only a few bitcoins there is high chance that you are within the millionth user who possess a whole bitcoin.

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March 16, 2017, 10:18:24 AM
 #95

You explain about bitcoin very well, but i lost the chance to make me a million. Because i entered in bitcoin world very late, I know about bitcoin in last 2 years, but i am glad, when i know about bitcoin, than it was $285, and i bought 3 to 4 bitcoins, and now recently i sold them, than you guess who could i make profit from bitcoins.
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March 16, 2017, 10:38:42 AM
 #96

considering some estimations that about 3 mln bitcoins were lost, you must have only 13 bitcoins in order to be the One in a million  Smiley

People are now going to wish that they can turn back time when Bitcoin is free so hey can get as many as possible,but this is not possible anymore and now people in the altcoin section are still stuck,searching for the next big thing in the crypto currency.

Still, bitcoin era keeps running because now nobody is bothering about the present price.
Because many people are thinking bitcoin is one prestigious coin, which has strong ability to increase the price in the future.
At the same time, many people are searching for another altcoin which can secure its position after bitcoin.

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March 16, 2017, 10:42:42 AM
 #97

You explain about bitcoin very well, but i lost the chance to make me a million. Because i entered in bitcoin world very late, I know about bitcoin in last 2 years, but i am glad, when i know about bitcoin, than it was $285, and i bought 3 to 4 bitcoins, and now recently i sold them, than you guess who could i make profit from bitcoins.
Wow thats a good spot of selling your bitcoin which you have bought on a very low amount and now its the right time to sell.Same as yours i do know about bitcoin for just 2 years ago which is considered as late but still as long we do have chance on earning it on a free way without the need of buying it.

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March 16, 2017, 10:47:31 AM
 #98

All of that has shown us the strength of bitcoin, it is a potentially huge coin that affects the whole world and can change the world. Nowadays, it is gradually developing and getting better and better, time has shown us that. For those who have used bitcoin from the beginning, they will see its potential, and if they believe in it, then surely they are now rich, they own bitcoin when it only Worth a few hundred dollars, but to the present, its value has doubled, even triple. Really rich, I wish I could know bitcoin sooner.

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April 24, 2017, 12:36:15 PM
 #99

You explain about bitcoin very well, but i lost the chance to make me a million. Because i entered in bitcoin world very late, I know about bitcoin in last 2 years, but i am glad, when i know about bitcoin, than it was $285, and i bought 3 to 4 bitcoins, and now recently i sold them, than you guess who could i make profit from bitcoins.

True. It feels like we have it but later on we knew that it was only just a dream. Well it's really sad to know that, the chance of being a millionaire has been slip away. Imagine believing in bitcoins potential seven years ago and invest at least 500 BTC. That is a great amount now.

You're still lucky because you've bought Bitcoin with a price of less than 300$, many people here don't even reach the moment when Bitcoin still have that price.

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April 24, 2017, 12:49:39 PM
 #100

Each day more and more people start to know about BTC and other cryptocurrencies and realizing its potential. It's safe to say that in the next couple years we'll see a huge interest in this subject, as more and more people want to have control over their assets. I don't say that every person in the world will adopt crypto, but that the user base will have a huge growth from today's number.

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