announcement: the international "when-bitcoin-reaches 1000,- $ party"

[Gordonium]

Sounds cool. After all we probably will be the new wealthy elite.

[1713955814]

1713955814

[keystroke]

I'm there.

[EuroTrash]

I propose that single men pay double. Ladies are free. This encourages a more balanced gender distribution.

Edit: There is always room to put it nicer.

With such a high concentration of male nerds just become millionaires at the party, if word of it goes out, I would expect to see many husband-hunting "ladies" joining.

(hello everyone. Can I join the party?)

[smoothie]

I didn't even know I was coming.

If Bitcoin hits $1,000 I will be there.  

dear smoothie,
at the beginning a had a list of celebrity forum members that we needed to invite.
this list somehow merged into the list of people that wanted to come. please forgive this shameless account of using your shiny name for mundane reasons
& welcome  

if you/others know members that we need to have at the party - let me know!

I'm flattered. Definitely will make an effort to be there.

 

[molecular]

More statistics of bitcoin ownership. Warning: simple math and advanced logic.

Situation now:

#People	#Bitcoins	#TotalBitcoins
100	BTC10k+	5.5M
900	BTC1k-10k	2.9M
5000	BTC100-1k	1.6M
31k	BTC10-100	1.0M
167k	BTC1-10	0.5M
1M	BTC0.1-1	0.3M
3M	BTC0-0.1	0.0M

Total: 11.8M bitcoins, 4.2M owners

Situation later:

#People	#Bitcoins	#TotalBitcoins
63	BTC10k+	3M
1000	BTC1k-10k	3M
10k	BTC100-1k	3M
100k	BTC10-100	3M
1M	BTC1-10	3M
10M	BTC0.1-1	3M
600M	BTC0-0.1	3M

Total: 21M bitcoins, 611M owners

Very cool. It would be very interesting for me to know how you came up with these numbers.

[steelboy]

More statistics of bitcoin ownership. Warning: simple math and advanced logic.

Situation now:

#People	#Bitcoins	#TotalBitcoins
100	BTC10k+	5.5M
900	BTC1k-10k	2.9M
5000	BTC100-1k	1.6M
31k	BTC10-100	1.0M
167k	BTC1-10	0.5M
1M	BTC0.1-1	0.3M
3M	BTC0-0.1	0.0M

Total: 11.8M bitcoins, 4.2M owners

Situation later:

#People	#Bitcoins	#TotalBitcoins
63	BTC10k+	3M
1000	BTC1k-10k	3M
10k	BTC100-1k	3M
100k	BTC10-100	3M
1M	BTC1-10	3M
10M	BTC0.1-1	3M
600M	BTC0-0.1	3M

Total: 21M bitcoins, 611M owners

Very cool. It would be very interesting for me to know how you came up with these numbers.

I was wondering the same thing? Sources?

[molecular]

Also the conference security needs to be in top shape.

I'm against having a sauna!

[molecular]

Berlin. Massive party but also donations accepted in bitcoin for a charity or charities that accepts them. Not just a woohoo we have a few bucks party.

I think that's a good idea. Have some ways/action at the party to give to different charities. That way we don't look as much like rich assholes.

[smoothie]

Also the conference security needs to be in top shape.

I'm against having a sauna!

This +21,000,000

[rpietila]

Very cool. It would be very interesting for me to know how you came up with these numbers.

I was wondering the same thing? Sources?

I will open up a new thread for this, and use community-researched numbers as starting points. It is quite enlightening, I promise.

Also the conference security needs to be in top shape.

I'm against having a sauna!

We have to remember that sauna itself was not the problem, the problem was that the hotel did not take our security demands (basically: no access by hotel personnel except by our authorization) at all seriously - same thing happened in the subsequent security room suite #30.

I do understand that hotels like to have access to their own premises, but I do not understand, why they promise and do not deliver. It is not like they did not know, or were not aware. The negotiation concerning the deal between us and the hotel for the summit took several days, and even their CEO paid a visit beforehand.

During the event, our special requirements were only 2 A4-sheets, were given to be delivered to everyone in the hotel, and were posted even here in this forum.

There are many things that I don't understand and on top of the list is still, how could the best hotel in Finland fail so badly

I had no intention to rant about that old stuff.. sorry. Just want you to know that anything can happen in a bitcoin meetup if the meetup is expected to have some actual content.

[edd]

Berlin. Massive party but also donations accepted in bitcoin for a charity or charities that accepts them. Not just a woohoo we have a few bucks party.

I think that's a good idea. Have some ways/action at the party to give to different charities. That way we don't look as much like rich assholes.

Rassah and I will both be there. If Phinnaeus and Jason (SeansOutpost) attend as well, that's the whole Bitcoin100 team. I'm sure we can come up with some kind of plan to raise bitcoins for charities. Maybe do a fundraiser and split the proceeds amongst all the charities we've convinced to accept BTC donations thus far.

I'm a little concerned about the amount of BTC that will be converted to fiat to make this party happen. We should be working on getting vendors/caterers/venues/entertainers/hotels/taxis/limos/restaurants/bars in the area to start accepting bitcoins as payment.

[steelboy]

Berlin. Massive party but also donations accepted in bitcoin for a charity or charities that accepts them. Not just a woohoo we have a few bucks party.

I think that's a good idea. Have some ways/action at the party to give to different charities. That way we don't look as much like rich assholes.

Rassah and I will both be there. If Phinnaeus and Jason (SeansOutpost) attend as well, that's the whole Bitcoin100 team. I'm sure we can come up with some kind of plan to raise bitcoins for charities. Maybe do a fundraiser and split the proceeds amongst all the charities we've convinced to accept BTC donations thus far.

I'm a little concerned about the amount of BTC that will be converted to fiat to make this party happen. We should be working on getting vendors/caterers/venues/entertainers/hotels/taxis/limos/restaurants/bars in the area to start accepting bitcoins as payment.

That's a good point, another advantage of a Berlin venue. Whats the bitcoin infrastructure like in Frankfurt?

[Rassah]

Sounds cool. After all we probably will be the new wealthy elite.

Speak for yourself. I have no money and no bitcoins... <.<   >.>

[Rassah]

I'm a little concerned about the amount of BTC that will be converted to fiat to make this party happen. We should be working on getting vendors/caterers/venues/entertainers/hotels/taxis/limos/restaurants/bars in the area to start accepting bitcoins as payment.

That's a good point, but likely not that much of a concern. For one, there is already enough volume on the markets to absorb about $100k  a day without much pain, and that will only improve once BTC is worth $1,000. And two, we won't be spendiing the entire $1mil all in one day. If this is a correctly planned out party, there will be expenses and payments well before and a while after the party as well. Though it would be kinda funny if BTC hits $1,000, all the party bills are agreed on to be paid after the party is over, and as soon as the party is done, all the bill payments drive the price back down to under $1,000

[edd]

I'm a little concerned about the amount of BTC that will be converted to fiat to make this party happen. We should be working on getting vendors/caterers/venues/entertainers/hotels/taxis/limos/restaurants/bars in the area to start accepting bitcoins as payment.

That's a good point, but likely not that much of a concern. For one, there is already enough volume on the markets to absorb about $100k  a day without much pain, and that will only improve once BTC is worth $1,000. And two, we won't be spendiing the entire $1mil all in one day. If this is a correctly planned out party, there will be expenses and payments well before and a while after the party as well. Though it would be kinda funny if BTC hits $1,000, all the party bills are agreed on to be paid after the party is over, and as soon as the party is done, all the bill payments drive the price back down to under $1,000

It would be funny if this party influenced the bitcoin market significantly.

But I was more concerned about the message we would be sending. I'd be happier if we could pull it off without having to go through fiat middlemen, or at least converting as little as possible.

[BitChick]

. Nobody is questioning the viability of having a 1000-people party with $1 Million budget!! I mean, wtf, a few months ago I did not even dream of this and still got ridiculed.

I am so much in.

I sprayed my coffee all over my lap LOL'ing, to be honest I still don't know who of you are homeless and who is 13 training on the school library's computer.  

Hey at a $1000 a bitcoin, even the homeless and 13 year olds will be flying first class to Germany for the party.

+1.

There are only so many bitcoins...

In 2010, you could effortlessly buy BTC10,000. But only 2100 people will be able to hold it.
In 2011-2012, you could buy BTC1,000. But only 21,000 people will be able to.
In 2013, most can buy BTC100. Still, that is only 210,000 people.

There are more than a million bitcoin users now, so obviously most hold less than BTC100.

Once the bitcoin userbase grows to one billion, only 21 million at most can hold even a single bitcoin. It does not take a scientist to see that BTC1 is very valuable, and a stash of BTC100 bought in 2013 is immensely valuable.

More statistics of bitcoin ownership. Warning: simple math and advanced logic.

Situation now:

#People	#Bitcoins	#TotalBitcoins
100	BTC10k+	5.5M
900	BTC1k-10k	2.9M
5000	BTC100-1k	1.6M
31k	BTC10-100	1.0M
167k	BTC1-10	0.5M
1M	BTC0.1-1	0.3M
3M	BTC0-0.1	0.0M

Total: 11.8M bitcoins, 4.2M owners

Situation later:

#People	#Bitcoins	#TotalBitcoins
63	BTC10k+	3M
1000	BTC1k-10k	3M
10k	BTC100-1k	3M
100k	BTC10-100	3M
1M	BTC1-10	3M
10M	BTC0.1-1	3M
600M	BTC0-0.1	3M

Total: 21M bitcoins, 611M owners


Of course the numbers in ownership brackets can be off by a factor of 2, but it is mathematically impossible for them to be off by a factor of 10! Therefore we conclude that by buying and holding BTC1, you are forever guaranteed to be among the top 1 million bitcoin owners, regardless of how cheap you managed to buy it, or how valuable it gets in the nearest years.

Iirc, it takes $10M+ to get to the top 1 million in dollar wealth, so we are talking about royal money.

There are definitely 13 year olds with BTC100 or more. Since there are about 6,000 people with BTC100. I would be more wary for 17-year olds who were 13 at the time when coins could be mined 500 per day

Rpietila:  This is one of the most interesting posts ever.  It is still hard to believe that there are so few in the top tiers though.  I figured there were thousands of people with 1000+ coins.  (I would not be in that category unfortunately).  Wish I was a better day trader and perhaps I could be but I totally fail at it!  If you could start a thread on this it would be great!

Also, are you looking at the numbers for each address though?  I know for security reasons many people hold their coin using different addresses so the numbers could be different taking that into consideration.

[600watt]

welcome on board ffssixtynine, Gordonium, keystroke and EuroTrash !

@ffssixtynine/molecular/edd: charity is a must. i would say that it is a major component of this event. a significant part of ticket fees will be donated, any fundraising ON TOP OF IT would really great. we might as well aim for at least 100 k $. we need to find a common goal where to put the money -suggestions welcome (imho it should go towards unfortunate kids, but we will have votes for it. btw, not only is bitcoin democratizing banking, this btc-1k party will itself be a very democratic happening)

@edd/rassah: most definitly it is our eager goal that the party-project will only accept btc as payment and will only spend bitcoin without exchange also. i think waving around with such an astronomical freakin budget will be an convincing arguement for any service company to take the chance and start to accept btc.

i am really happy with the course our ship has taken. it started out as a crazy idea, but now we have brilliant members here contributing.

[600watt]

. Nobody is questioning the viability of having a 1000-people party with $1 Million budget!! I mean, wtf, a few months ago I did not even dream of this and still got ridiculed.

I am so much in.

I sprayed my coffee all over my lap LOL'ing, to be honest I still don't know who of you are homeless and who is 13 training on the school library's computer.  

Hey at a $1000 a bitcoin, even the homeless and 13 year olds will be flying first class to Germany for the party.

+1.

There are only so many bitcoins...

In 2010, you could effortlessly buy BTC10,000. But only 2100 people will be able to hold it.
In 2011-2012, you could buy BTC1,000. But only 21,000 people will be able to.
In 2013, most can buy BTC100. Still, that is only 210,000 people.

There are more than a million bitcoin users now, so obviously most hold less than BTC100.

Once the bitcoin userbase grows to one billion, only 21 million at most can hold even a single bitcoin. It does not take a scientist to see that BTC1 is very valuable, and a stash of BTC100 bought in 2013 is immensely valuable.

More statistics of bitcoin ownership. Warning: simple math and advanced logic.

Situation now:

#People	#Bitcoins	#TotalBitcoins
100	BTC10k+	5.5M

[...


Total: 11.8M bitcoins, 4.2M owners

Situation later:

#People	#Bitcoins	#TotalBitcoins
63	BTC10k+	3M

...

Total: 21M bitcoins, 611M owners


Of course the numbers in ownership brackets can be off by a factor of 2, but it is mathematically impossible for them to be off by a factor of 10! Therefore we conclude that by buying and holding BTC1, you are forever guaranteed to be among the top 1 million bitcoin owners, regardless of how cheap you managed to buy it, or how valuable it gets in the nearest years.

Iirc, it takes $10M+ to get to the top 1 million in dollar wealth, so we are talking about royal money.

There are definitely 13 year olds with BTC100 or more. Since there are about 6,000 people with BTC100. I would be more wary for 17-year olds who were 13 at the time when coins could be mined 500 per day

Rpietila:  This is one of the most interesting posts ever.  It is still hard to believe that there are so few in the top tiers though.  I figured there were thousands of people with 1000+ coins.  (I would not be in that category unfortunately).  Wish I was a better day trader and perhaps I could be but I totally fail at it!  If you could start a thread on this it would be great!

Also, are you looking at the numbers for each address though?  I know for security reasons many people hold their coin using different addresses so the numbers could be different taking that into consideration.

i also find this very interesting. for the sake of the readability of this thread i suggest to discuss this in another thread.

[Zakryze]

may i dj for you guys then? every now and then i'll put in the beep from the blockchain lol

[rpietila]

Rpietila:  This is one of the most interesting posts ever.  It is still hard to believe that there are so few in the top tiers though.  I figured there were thousands of people with 1000+ coins.  (I would not be in that category unfortunately).  Wish I was a better day trader and perhaps I could be but I totally fail at it!  If you could start a thread on this it would be great!

No need to clutter this one any more

Analysis on bitcoin wealth distribution by the size of holding.