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Author Topic: How much of the total supply of coins you think is owned by your fellow citizens  (Read 393 times)
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Pidgeon
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September 15, 2017, 09:30:29 AM
 #1

Or how much coins do you think your country "owns".
Some claim China has 20%, which I doubt.
My country Latvia has probably less than 0.1%
What about your? What impact do you think your country has on bitcoin?
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September 15, 2017, 07:41:58 PM
 #2

BTC is largely owned by early adaptors and I think BTC is in a mode of transcending country and government so I can't really tell on what country has more % bitcoins owned.
I think that it is largely irrelevent.

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September 15, 2017, 11:50:59 PM
 #3

That's a very good question.

The 20/80 rule of thumb could apply here. Historically, economists have cited a loose generalization which claims 20% of the population typically own 80% of the wealth. If this observation is true, it could imply that 80% of crypto is owned by 20% of crypto users.

The 20% of the population demographic cited in the 20/80 rule are today known as "one percenters" or "elites".

Of course this is all speculation. It is possible that the demographic breakdown of crypto is nearer to 50/50 than it is 20/80. Without some type of census or metrics breakdown its difficult to say for certain.


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September 16, 2017, 12:13:00 AM
 #4

BTC is largely owned by early adaptors and I think BTC is in a mode of transcending country and government so I can't really tell on what country has more % bitcoins owned.
I think that it is largely irrelevent.

That word is somewhat exaggerating the whole statement because we all know that bitcoin is not owned by anyone it is decentralized. I think you are saying that the large amount of bitcoin's percentage are at the hands of the early adoptors so we can really conclude that stating the percentage of the bitcoin holdings in my country is hard unless we ask all of the people who has bitcoins and compute it.


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September 16, 2017, 12:39:40 AM
 #5

I think its not that huge supply of bitcoin own in my country (Philippines) maybe a 2% is great but that is just based on my speculation. I know that the first adopters of bitcoin are the one who have huge supply of coins they own right now and I don't think Philippines is one of those country to first adopt to it.

But if others might have known it before it implemented,, then they are probably the large investors and the early birds bitcoin enthusiast to know bitcoin in the crypto world.
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September 16, 2017, 11:25:53 AM
 #6

Or how much coins do you think your country "owns".
Some claim China has 20%, which I doubt.
My country Latvia has probably less than 0.1%
What about your? What impact do you think your country has on bitcoin?

I hear my fellow citizens mention millions when they talk about Bitcoin, which is worth a good amount of Bitcoin. I don’t have much of bitcoin, but I’m trying my best to earn it and also save and invest. I can’t really tell what percentage my country will be, but they’re making a hit in it…

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September 16, 2017, 03:58:10 PM
 #7

bitcoin is not owned by anyone it is decentralized.
This isn't about Bitcoin as a project, it's about the actual coins that are held in the blockchain and who has access to them (which we're calling ownership).
The 20% of the population demographic cited in the 20/80 rule are today known as "one percenters"
Generally, it's the top 1% that's called the top 1%.  That's in the name.

I would imagine that crypto is somewhat centralised in terms of holders, because getting in early meant that an amount that previously seemed trivial ended up being a noticeable percentage of a huge economy (due to the rapid price increases).

Eventually, that will balance itself out as early adopters spend, sell or do something else that brings the money back into ordinary circulation.

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September 16, 2017, 04:12:31 PM
 #8

Or how much coins do you think your country "owns".
Some claim China has 20%, which I doubt.
My country Latvia has probably less than 0.1%
What about your? What impact do you think your country has on bitcoin?


I don't know a single person that owns BTC in real life, you could go on the street, ask 10 people and most likely 0 out of 10 people would even know what it is, let alone own any.

And if you put a threshold of 1 BTC, then it becomes extremely rare to find someone that owns 1 BTC.

1 BTC at $3550 is a very prohibitive high risk bet to make for most people out there which struggle to pay monthly expenses.

Considering that, I would say my country owns probably anywhere from 1 to 5%.

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September 16, 2017, 06:54:35 PM
 #9

Hard to tell but I assume people here in the Netherlands own 1 or 2% of existing BTC. I mean, my country is small but well-connected to the internet and I have the impression quite a lot of early adopters are actually Dutch. I even personally know a guy who has currently tens of thousands of $ invested in crypto, but he is an extreme exception; although crypto is covered more and more by traditional media, very few people are active in cryptocurrencies.

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September 17, 2017, 01:51:41 AM
 #10

China is a very big industry for bitcoin but i doubt that it has a fifth of the total btc count today. Here, probably there aren't as many as china but definitely there are more people now that owns btc here than say a a couple of years ago.

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September 17, 2017, 03:42:58 AM
 #11

I think its not that huge supply of bitcoin own in my country (Philippines) maybe a 2% is great but that is just based on my speculation. I know that the first adopters of bitcoin are the one who have huge supply of coins they own right now and I don't think Philippines is one of those country to first adopt to it.

But if others might have known it before it implemented,, then they are probably the large investors and the early birds bitcoin enthusiast to know bitcoin in the crypto world.

Judging from the people I know who own bitcoin in my country and taking into account the rest of the citizens present within the bitcoin community, I would have to agree that a rough estimate of 2% has acquired coins in the Philippines. Its a small number because Bitcoin is not that mainstream in the country and majority do not know about it yet.

I know of someone who bought Bitcoin back when it had such a low price and have it stored in a secure wallet up to now. Surely, those who were able to buy bitcoin back the, were able to acquire and store a huge sum of the coins.

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September 17, 2017, 03:54:02 AM
 #12

If i am going to estimate the holdings of my fellow citizens then i can say that it is just around a few thousands of bitcoins because the people here in our place is not that super rich to buy a lot of bitcoin and keep it for long term so i think it might take a lot more years before the numbers will go up because the demand here, to be honest is still very low.

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September 17, 2017, 05:55:01 AM
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If i am going to estimate the holdings of my fellow citizens then i can say that it is just around a few thousands of bitcoins because the people here in our place is not that super rich to buy a lot of bitcoin and keep it for long term so i think it might take a lot more years before the numbers will go up because the demand here, to be honest is still very low.

In my place also is very low supply of bitcoin. Maybe it would be 0.9% I can't surely say the exact percentage but just stimation. In my place bitcoin is already accepted in some of the service but most of the people here doesn't know what bitcoin is.

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September 17, 2017, 06:25:50 AM
 #14

Or how much coins do you think your country "owns".
Some claim China has 20%, which I doubt.
My country Latvia has probably less than 0.1%
What about your? What impact do you think your country has on bitcoin?

This is what which makes bitcoin beautiful that even your family people don't know that how much bitcoins do you have. Same is the thing that only I know how many bitcoins I am holding. Saying that some has an X number of bitcoin is just nothing than an assumption there is no way through which you can say authentic figures of bitcoins in a country.
I have no Idea about how much of bitcoin is in my country but only can say that almost all the elite class holds bitcoin. Though the middle and the lower still don't have much awareness about the bitcoin but it's awareness is increasing gradually and now people from the middle and the lower class also contribute to bitcoin.

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October 02, 2017, 05:25:44 AM
 #15

I think that in our country bitcoin is not already popular and famous because only few peoples in our country will using bitcoin and I am one of them. I can say that only 20% of bitcoin that our country owned but I think that someday it will be more increase.

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October 02, 2017, 09:05:57 AM
 #16

I think that in our country bitcoin is not already popular and famous because only few peoples in our country will using bitcoin and I am one of them. I can say that only 20% of bitcoin that our country owned but I think that someday it will be more increase.
agree. Right now cryptoes are not in the masses. It is like a dark technology. We are only on a start of new crypto era.
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