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Author Topic: First Bitcoin Billionair?  (Read 2062 times)
bonker
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June 23, 2011, 04:24:22 PM
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It's going to happen, just like the dotcom boom. Some early adopters in a few years are going to be a dollar billionaires.

How do y'all feel about this? Sad because the Bitcoin economy should be about liberation rather than more billionaire/Serf economic feudalism? Or Happy for those enterprising and creative enough to make it happen in the first place?

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June 23, 2011, 04:40:40 PM
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ok.. if we estimate the largest holding at around 300,000 BTC 
(feb 27 2011 richlist shows 250,000 as largest - so perhaps someone will or has amassed 300K or so ?)

Then for that to be worth USD 1Billion - each bitcoin would need to be worth approx $3,333 USD

Even with my tiny holding..  I'd pretty damn happy I think!
I still wouldn't have a clue when to sell though.  Perhaps I'd get spooked by $1000 per BTC and take some cash in local currency...
unless by that time I can buy goods in Australia directly in bitcoin Smiley

On the philosophy of it..  well.. people inherit millions and billions through dumb luck of appearing in the correct uterus.. so..  it seems fairer that people who take a punt on something as innovative as bitcoin should get a windfall.

@electricwings   BM-GtyD5exuDJ2kvEbr41XchkC8x9hPxdFd
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June 23, 2011, 04:47:39 PM
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oh.. I see the jun 2011 richlist shows 432,109 as the largest.
I hope that's from an exchange like mtgox - and not an individual.
It'd be nice if the first bitcoin billionaire was someone with 100,000 or less BTC.

Then 1 BTC would be about $10K Smiley


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June 23, 2011, 04:54:13 PM
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oh.. I see the jun 2011 richlist shows 432,109 as the largest.
I hope that's from an exchange like mtgox - and not an individual.
It'd be nice if the first bitcoin billionaire was someone with 100,000 or less BTC.

Then 1 BTC would be about $10K Smiley



There is potential for that sort of uber growth, marketcap of all bitcoin at present is around 100M USD. That's is nothing in global terms.

I reckon as soon as the hedge funds pile in for a speculative punt, Bitcoins will go stratsopheric

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June 23, 2011, 05:40:17 PM
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The first of many bitcoin billionaires will not be wealthy because of the number of bitcoins in their wallets.

Its clear to me that these billionaires will have created bitcoin businesses from scratch, or will have adapted existing businesses to bitcoins.

Mt Gox might have annualized fee revenues at the June rate of 24 000 000 USD.  Those revenues may value Mt Gox at say 100 million USD.  One can easily imagine Mt Gox expanding to 10 times their current transaction volumes and making their owners in effect billionaires.

Furthermore, suppose Amazon wholeheartedly adopts bitcoins to save on transaction fees, to the point where some time in the future, the majority of Amazon purchases are made with bitcoins.  Then Jeff Bezos would become a bitcoin billionaire, as he is already a dollar billionaire.
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