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Author Topic: Why 21BTC seems to be the target of anyone??  (Read 2524 times)
iluvpie60
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May 19, 2017, 01:55:55 PM
 #41

21 is a winning blackjack hand number i guess.
 
21 is a lucky number and people are superstitious is all.


Ppl also say 21 is enough to make you a millionaire later. Who rly knows.


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May 22, 2017, 05:07:17 PM
 #42

Now I know the answer Thanks.
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May 22, 2017, 05:18:26 PM
 #43

Well i don't know the exact reason.But my friend always used to say that if we have 21 BTC,then we could enjoy a retirement life.May be some of the early bitcoin adopters would have assumed that bitcoin price would move to one million in future and so by having 21 BTC,we would be the owners of 21 million dollars.Its just my assumption.
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June 09, 2017, 12:25:13 AM
 #44

Bitcoin's total supply is capped off at 21million coins. This means when one hold 21BTC one would own 0.0001% of all BTC there ever will be.

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June 09, 2017, 12:46:03 AM
 #45

Because Bitcoins are capped off with a total supply is 21 Million. This means that at 21BTC you'd own 0.0001% of all Bitcoin that can ever be produced. This is why 21BTC is the magic number.
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June 09, 2017, 07:36:10 AM
 #46

even just one or two I'd be happy about it, do you think that 21 million circulating bitcoin is enough if many more people got interested on earning or holding bitcoins?
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June 09, 2017, 07:54:19 AM
 #47

even just one or two I'd be happy about it, do you think that 21 million circulating bitcoin is enough if many more people got interested on earning or holding bitcoins?


Having 1 can make us happy and we will be asking looking for more in the near future and the circulating btc can increase as user increase.


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June 09, 2017, 11:24:09 PM
 #48

even just one or two I'd be happy about it, do you think that 21 million circulating bitcoin is enough if many more people got interested on earning or holding bitcoins?

more than enough, considering bitcoin can never see an increase in total supply, but there is no rule preventing an increase in precision (i.e. adding more decimal figures).

in practical terms, even today, talking in "Bitcoin" units is fairly senseless. mBTC is where it's at today. It will--hopefully--be uBTC soon-ish.

Holding 21 bitcoin practically sets you up to be well placed in the top 1-million (there simply arn't that many big holders... there are a few massive holders, and a massive ammount of fraction-owners). It's a nice number and by all means if you happen to stumble upon 21btc do shove them in a cold wallet and forget for a decade or so...

but in reality what I would do today is to put 1BTC in that cold wallet, and call it one heck of a success. Even for many of us who've been "in" for more than 5-6 years 21BTC is not that easy a target to carelessly through around.
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June 09, 2017, 11:26:11 PM
 #49

I have been reading posts on forums and articules about BTC and everybody seem to focus the target to achieve 21BTC, Why 21 Huh?

There will be maximum of 21 million bitcoins at the end of the bitcoin mining but maybe we won't be alive based on the calculation that satoshi has made because the halving will happen almost every 4 years and it will take really a long time until all 21 millino bitcoins will be mined. The goal of people is to be part of the 1 million club which means that only 1 million people are able to hold 21 bitcoins maximum.


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June 10, 2017, 12:06:48 AM
 #50

I have been reading posts on forums and articules about BTC and everybody seem to focus the target to achieve 21BTC, Why 21 Huh?

21 bitcoins would mean that you are holding 0.0001% of the entire possible bitcoin circulation, hence why a lot of people want to get that amount of bitcoin and set themselves a target to get it before xx date and time.



It's the same concept as why everyone wants a million dollars. So that they can be called a milionaire and all that. Practically there is nothing magical that's going to happen when you get 21 bitcoins but it would mean that you are one in a million in a world where there is 7 billion people. So when mass adoption is achieved, if and you have 21 btc in your wallet, you are sure to make a heck of a profit.

However 21 bitcoins is obviously very hard to get at the moment. Try not to put too much pressure on yourself and aim too high. Set your target a bit lower, like 1 bitcoin. When you reach that, set another target. Keep repeating that.


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June 10, 2017, 03:31:50 AM
 #51

There is no urban legend about people wanting to obtain 21 Bitcoins, it's not true, I do want some for now but just 18 and not 21 and after I bought a house with those 18 coins then I'll start focusing on getting hundreds and not just 21 because that's a lame and small amount if you ask me.

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June 10, 2017, 12:17:43 PM
 #52

I don't know the exact reason for 21 BTC target.But my friend who introduced me bitcoins always used to say that he has already got 21 BTC and his target is to get 11 more BTC so that he could join 21 BTC group.He further added that by joining 21 BTC group,he could enjoy a retirement life travelling to various parts of world and enjoy the remaining life.I too have an idea of saving 21 BTC.
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June 10, 2017, 05:54:48 PM
 #53

I have been reading posts on forums and articules about BTC and everybody seem to focus the target to achieve 21BTC, Why 21 Huh?

A lot of people believe that bitcoin will go up to 100,000 USD in price. Having 21 Bitcoins will give you about 2,100,000 USD. In the USA that is about enough money that you can retire comfortably and live for a while.

Once you have that money you put it into an account and it gains more interested over time(each year someting like 5%).

Your payout per month would look like this if you have 2.1Mil USD. If you wanted to withdraw 4,000 USD each month it is 2,100,000 / 4,000 = 525 months of being able to withdraw that much or 43 years. Most people would like to withdraw 5,000 or 6,000 a month, which would be like 30 years.

You could retire at the age of 45 and withdraw 4,000 a month, that would last you until about 85 to 90 years old. Since you gain 5% interest on it it would likely last you well past the age of 100! Typical expenses in average sized cities and towns are somewhere around  2,000 USD a month(food/housing/car/gas/eletiricy/phone/internet/going out to eat/ETC).


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June 10, 2017, 07:01:42 PM
 #54

21 realy seems like magic number. But will 21 Bitcoins be enough to live like a millionare? At current trends with price it looks like this could be real but getting to that sum of Bitcoins isn't easy at all. And if ever price changes for worse 21 Bitcoins maybe wouldn't be so magic number afterall.

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June 11, 2017, 02:26:08 AM
 #55

Because Bitcoins hard cap for the total supply is 21 Million[1], which means at 21BTC you'd own 1 millionth of all BTC there will be, or 0.0001%
That makes sense,even i was wondering why am i seeing many people having a target of 21 bitcoin,just my doubt,how about the lost coins,i am sure that many people have forgotten their password ,lost their control over their coins and i think around a million coins will be lost like that till now,so collecting around 20 btc would be fine.  Smiley

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gracia0023
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June 13, 2017, 02:34:48 AM
 #56

The reason that everyone targeting 21 bitcoin nowadays is the high value. As of now the value of 1 bitcoin is equivalent to 2000 USD  and if you have a 21 bitcoin meaning you have a 42,000 USD and if your location is in the 3rd world country this amount of bitcoin is equivalent to a million fiat that's why many of bitcoin user are targeting 21 bitcoin and remember that the value of bitcoin is continuously rise and increase.
flipstyle
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June 13, 2017, 03:08:19 AM
 #57

Its never easy to have 21 btc in wallet and it was possible in the past when price was too low but now if you are dreaming of that then you need to work really hard on it as I am sure most of the users even don't have 1 btc in their wallet.
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