Distribution of bitcoin wealth by owner

[molecular]

BTW, Lots of people are gonna dump their BTC with the coming scare tactics by bankers  [in the next 39-60 days] so this list is about to be consolidated. 

That's quite an exact timespan you give there. Care to elaborate?

[Vlad2Vlad]

BTW, Lots of people are gonna dump their BTC with the coming scare tactics by bankers  [in the next 39-60 days] so this list is about to be consolidated. 

That's quite an exact timespan you give there. Care to elaborate?

Meant 30-60 days. 

I've been saying it for a couple weeks on my riddle thread and now it's accelerating.  ETH shouldn't be at nearly $1 billion.  If you look at reddit it's mostly the /r/BTC section pushing this sky is falling agenda dump your BTC.  That's ran by Goldman/Classic shills.  So I expected the dump your BTC propaganda to pick up and it has.  So ETH should keep pushing higher on manipulation but also other Alts will join, LTC, Doge and any coin that looks like will replace BTC.  It's lies, Bitcoin is fine but most will panic dump Bitcoin so we may see Bitcoin drop to sub $100 very briefly as the bankers do one last massive shakeout before the run over $10,000 later this year.

Just my personal theory; I've got a few. 

[JayJuanGee]

BTW, Lots of people are gonna dump their BTC with the coming scare tactics by bankers  [in the next 39-60 days] so this list is about to be consolidated. 

That's quite an exact timespan you give there. Care to elaborate?

Meant 30-60 days. 

I've been saying it for a couple weeks on my riddle thread and now it's accelerating.  ETH shouldn't be at nearly $1 billion.  If you look at reddit it's mostly the /r/BTC section pushing this sky is falling agenda dump your BTC.  That's ran by Goldman/Classic shills.  So I expected the dump your BTC propaganda to pick up and it has.  So ETH should keep pushing higher on manipulation but also other Alts will join, LTC, Doge and any coin that looks like will replace BTC.  It's lies, Bitcoin is fine but most will panic dump Bitcoin so we may see Bitcoin drop to sub $100 very briefly as the bankers do one last massive shakeout before the run over $10,000 later this year.

Just my personal theory; I've got a few. 

That's a fair enough depiction of a theory and surely it seems to be reflective of actual behavior and actual attempts, but I doubt that the plan to undermine BTC is going to be as successful as you are making it out to be.

Surely it does not take a lot of capital to pump various alts.. but there may be some necessity to keep the price up on some of the alts (such as Ethereum), if the goal is to not cause people to realize that those alts are pump and dumps... maybe easier said than done.


Regarding the distribution of bitcoins and the elite status, I recall assertions that 10 BTC is sufficient, but when BTC prices languish for so long, sometimes one has to wonder whether 10BTC is going to be enough.... and a lot of this question of BTC elite status does depend upon mass adoption assumptions. Even if bitcoin only becomes 10% adopted throughout the world, that level of adoption could cause 10BTC to be a considerable sized holdings.  With today's prices, and depending upon when a person got into BTC, it may be solid to attempt to continue to accumulate BTC with a goal of at least 10 BTC. 

But if a person expects BTC to potentially drop in price, then s/he has got to prepare for that too.  Dollar cost averaging remains a decent strategy for both accumulating and preparing for ups and down in the short-term prices, with an expectation that 2-5 years from now there may be a decent-sized BTC price spike.

[MyBTT]

Those are some shocking numbers and I had no idea that there were so many lost Bitcoin. I also had no idea that 70 people have over 10 thousand Bitcoin.

[JayJuanGee]

Those are some shocking numbers and I had no idea that there were so many lost Bitcoin. I also had no idea that 70 people have over 10 thousand Bitcoin.

O.k... so those are the approximate numbers as of early 2014.. yet I believe that a few more "weak" hands may have been shaken since then.. and maybe the indicators are that larger holdings of bitcoins are held by fewer numbers of individuals, rather than by more individuals..


I think that less diversity in the larger holdings of bitcoins is the anticipated direction (rather than more dispersed BTC holdings), yet the data sources are mostly inferential evidence rather than direct evidence regarding anticipated BTC holdings (who and how much).

[RealBitcoin]

Can you please update this info, I cannot find any other estimation like this on the forum

According to your estimation, I`m a bitcoin elite in the top percentages, it's really good


(Plus now that new users come from Phillipines and SE-Asia with low bitcoin balances, we have moved even higher in the elite ledger)

I'm curious, what is the bottom end of being a Bitcoin "Elite"?  Thx.

BTW, Lots of people are gonna dump their BTC with the coming scare tactics by bankers  [in the next 39-60 days] so this list is about to be consolidated. 

Cheers?

The Top 5% is considered to be the elite. Considering that most people have under 1 BTC, this means that almost everyone with 1-2 bitcoins that he holds on to is an elite.


More low balance folks will join from poor countries, then I guess the top 10% will be the elite.


But those that remain in the top 1-2% will be the ultra-elite, equivalent to the fiat banking system owners.

[rpietila]

Just think of what is the dollar equivalent. I believe the bitcoin wealth distribution follows the same mathematical distribution to a large extent.

A possible way to think is that "$25 million NW" is "elite" (replace the figure with anything that suits you). There maybe about 1 million such people among the 5,000 million adults in the world.

So if we take this example, the relative position to be in the "elite" is 0.02%. (In reality, even these, most are just normal guys. It is a controller tactic to paint these guys "rich" and "enemies of the working class", as has always been.)

My sources indicate that BTC has more owners now than 2 years ago, perhaps 5 million. So the 0.02% is 1,000 largest owners who are the "Bitcoin elite". If my calcs are not completely off, you only need about BTC500 to be among the 1,000 largest owners. This was the rough estimate, it's possible to spend more time on it to get a better one.

[justspare]

TL;DR:  As a result of analyzing the "Mt.Gox leak", the number of bitcoin holders is likely 1.0 millions. Of these,
* the 400 bitcoin millionaires with at least BTC2,000 hold 40% of bitcoins.
* 100,000 owners with BTC10-BTC2,000 ($5,000-$1,000,000) hold 50% of the bitcoins.
* 900,000 owners have a holding of BTC0.002-BTC10, valued at $1-$5,000, and hold 10% of the bitcoins

This is NOT a largest addresses/wallets -list, we are talking about largest owners here. An owner can have many wallets, and a wallet can have many addresses.



22. Apr 2014

#People	#Bitcoins	#TotalBitcoins
70	BTC10k+	3.6M
930	BTC1k-10k	2.2M
13k	BTC100-1k	3.0M
85k	BTC10-100	2.3M
250k	BTC1-10	0.8M
340k	BTC0.1-1	0.1M
230k	BTC0.01-0.1	0.0M
90k	BTC0.002-0.01	0.0M

Total: 12.2M bitcoins (0.5M bitcoins assumed lost)

The changes from previous estimate:

- Total number of holders revised down from 2.0 million to 1.0 million. This did not change much in the distribution of coins. If new users are added, the large holders do sell according to an experimentally derived rate of 17% per doubling in price, but some newish holders also add to their positions. All-new entrants can come to any bracket, because no amount of coins is yet too expensive to buy. The perceived static totals of the analysis hide the fact that Bitcoin trade is quite brisk and the people who consist of a bracket do change all the time.

- Number of 10k+ holders recalculated because we now know better the average number of coins in each bracket (thanks to Mt.Gox data). So the large holders still have the same number of coins in total, but there appears to be more of the holders.

- Same for 1k+ and 100+. More people but approx the same number of total coins.

- 10+ category turned out to be larger than previously estimated. The Mt.Gox data gave us the confidence to use a steeper j parameter, which means a more "equitable" distribution with more coins in the middle brackets.

- 1+ category remained intact, and the fractional categories were significantly sized down. The lower threshold of "owner" was also raised to BTC0.002 because of the decline in price.

- Number of Bitcoin millionaires at this price ($500) is about 400. This means that only 400 people worldwide can raise a $million by selling bitcoins, but about 30,000,000 people can invest a $million to buy bitcoins (without going into debt).

- The Bitcoin millionaires command about 4.9 million bitcoins, which is 40% of all bitcoins. The control of world's gold and fiat currency is more centralized with a smaller number of individuals controlling higher percentage.




Earlier estimate of 27. Jan 2014

#People	#Bitcoins	#TotalBitcoins
46	BTC10k+	3.6M
820	BTC1k-10k	2.4M
10k	BTC100-1k	2.8M
68k	BTC10-100	2.0M
250k	BTC1-10	0.8M
550k	BTC0.1-1	0.2M
690k	BTC0.01-0.1	0.0M
430k	BTC0.001-0.01	0.0M

Total: 11.8M bitcoins (0.5M bitcoins assumed lost)

There is less holders than before in the category of BTC70+. The number of holdings smaller than this increased.

The number of bitcoin millionaires, previously estimated 930, decreased to 790 (-15%). Their combined wealth is 5.9M bitcoins, which is 50% of all bitcoins.


Earlier estimate of 3. Dec 2013

#People	#Bitcoins	#TotalBitcoins
47	BTC10k+	3.5M
880	BTC1k-10k	2.6M
10k	BTC100-1k	3.0M
63k	BTC10-100	1.8M
210k	BTC1-10	0.6M
350k	BTC0.1-1	0.1M
350k	BTC0.01-0.1	0.0M
210k	BTC0.001-0.01	0.0M

Total: 11.6M bitcoins (0.5M bitcoins assumed lost)

1,200,000 people own bitcoins that are valued at more than $1 (BTC0.001 or more)
280,000 people own bitcoins that are valued at more than $1,000 (BTC1 or more), up from 120,000 last month
930 people own bitcoin that are valued at more than $1 million (BTC1,000 or more)
1 person owns bitcoins that are valued at more than $1 billion (Satoshi, estimated to be BTC980,000)

Changes from previous month:
- Bitcoin total number adjusted to account for increase in money supply
- Thoroughly re-engineered the number of bitcoin users from original data of the userbases of several services + blockchain usage. This shows that the last month estimate was probably too small, and perhaps 50% of the growth in number of users can be attributed to correction of a previous underestimate.
- Corrected the highest bracket a little bit (BTC0.6M ) upwards because it was over-corrected downwards last time. Number of holders in this category went down a little but we have better estimate of the holdings. As this is a base case model, we do not assume large, completely anonymous entities without at least circumstantial evidence of their holdings.
- Number of people in each bracket behaves according to binomial distribution as found in another data with the parameters: total=1.2 million users, highest bracket=fixed, #of_coins=fixed.

As a result:
- Bracket 1,000-10,000 saw the greatest loss -20%, bracket 100-1,000 lost 10%. Sub-BTC10 holdings gained a lot.


Earlier estimate of 26. Oct 2013

#People	#Bitcoins	#TotalBitcoins
50	BTC10k+	2.9M
1100	BTC1k-10k	3.1M
12k	BTC100-1k	3.3M
58k	BTC10-100	1.8M
110k	BTC1-10	0.4M
110k	BTC0.1-1	0.1M
57k	BTC0-0.1	0.0M

Total: 11.5M bitcoins, 350k owners
120,000 people own bitcoins that are valued at more than $1,000 (BTC5 or more).

Changes from previous estimate:
- Bitcoin total number adjusted to 11.5M to account for lost coins
- Significantly reduced the number of bitcoin users to account for the assumption that few people would play with stashes that are <$10 in value, and other evidence pointing to a lower number
- Significantly reduced the number of bitcoins owned by the highest bracket due to the lack of evidence that there are many large holders. As this is a base case model, nefarious premine schemes are not assumed without proof. Sorry for falling into that initially.
- Number of people in each bracket behaves according to binomial distribution as found in another data.


Thread is self-moderated to retain readability; user content will be amalgamated to the table and possibly deleted. If this happens, don't take it personally.

I wish that I was part of that group that owns over 10 thousand Bitcoins. I am pretty sad to be part of the group that owns 10 Bitcoins.

[Vlad2Vlad]

Just think of what is the dollar equivalent. I believe the bitcoin wealth distribution follows the same mathematical distribution to a large extent.

My sources indicate that BTC has more owners now than 2 years ago, perhaps 5 million. So the 0.02% is 1,000 largest owners who are the "Bitcoin elite". If my calcs are not completely off, you only need about BTC500 to be among the 1,000 largest owners. This was the rough estimate, it's possible to spend more time on it to get a better one.

Wow, I was almost there before I lost it all in Cryptsy.  MaxPain!!!

[JayJuanGee]

Just think of what is the dollar equivalent. I believe the bitcoin wealth distribution follows the same mathematical distribution to a large extent.

My sources indicate that BTC has more owners now than 2 years ago, perhaps 5 million. So the 0.02% is 1,000 largest owners who are the "Bitcoin elite". If my calcs are not completely off, you only need about BTC500 to be among the 1,000 largest owners. This was the rough estimate, it's possible to spend more time on it to get a better one.

Wow, I was almost there before I lost it all in Cryptsy.  MaxPain!!!

Is this really true that you had nearly 500BTC?  Do you have any BTC now?  more than 1, more than 10?  more than 100?

Have you posted about your personal experience of your allegedly losing btc? 

Unless, I am mixing you up with someone else, I recall that I had some posting interactions with you previously in which you were talking down bitcoin in a variety of ways, so I would be surprised that you would accumulate so many and then to talk down bitcoin. 


Is this your attempt at spreading FUD/disinformation or had you really accumulated nearly 500BTC? 

Let's assume, for argument sake, that you really did acquire nearly 500 BTC.  It would seem fairly foolish to leave more than 20% (around 100BTC on any exchange) unless you are trying to accumulate BTC (or alts) by attempting price manipulations on a relatively small volume exchange and keeping your whole stash on such exchange in order to maximize manipulation effect or arbitrage opportunities (which would be a risky business)?

[Vlad2Vlad]

Is this really true that you had nearly 500BTC?  Do you have any BTC now?  more than 1, more than 10?  more than 100?

Have you posted about your personal experience of your allegedly losing btc? 

Unless, I am mixing you up with someone else, I recall that I had some posting interactions with you previously in which you were talking down bitcoin in a variety of ways, so I would be surprised that you would accumulate so many and then to talk down bitcoin. 


Is this your attempt at spreading FUD/disinformation or had you really accumulated nearly 500BTC? 

Let's assume, for argument sake, that you really did acquire nearly 500 BTC.  It would seem fairly foolish to leave more than 20% (around 100BTC on any exchange) unless you are trying to accumulate BTC (or alts) by attempting price manipulations on a relatively small volume exchange and keeping your whole stash on such exchange in order to maximize manipulation effect or arbitrage opportunities (which would be a risky business)?

I don't lie about this stuff.

I didn't own any BTC, it was all in Alts.  I'm no techie so holding them on cryptsy which was never hacked was my best option.  Plus I traded a lot.

No, I'm all cleaned out now.  Starting from pretty much zero.

Read my riddle thread, I've been calling for Bitcoin going over $10,000 then over $100,000 since 2013.  I was the one who called Bitcoin hitting $1200 correctly in 2013, saying it would match gold in 12 months.  I've been telling everyone lately to not fall for games to dump their BTC cause the bankers are using propaganda to scare everyone out before the big run this year.

I'm ULTRA bullish on Bitcoin but there is much more going on and that's where my criticism comes in. 

Cheers!

[JayJuanGee]

Is this really true that you had nearly 500BTC?  Do you have any BTC now?  more than 1, more than 10?  more than 100?

Have you posted about your personal experience of your allegedly losing btc? 

Unless, I am mixing you up with someone else, I recall that I had some posting interactions with you previously in which you were talking down bitcoin in a variety of ways, so I would be surprised that you would accumulate so many and then to talk down bitcoin. 


Is this your attempt at spreading FUD/disinformation or had you really accumulated nearly 500BTC? 

Let's assume, for argument sake, that you really did acquire nearly 500 BTC.  It would seem fairly foolish to leave more than 20% (around 100BTC on any exchange) unless you are trying to accumulate BTC (or alts) by attempting price manipulations on a relatively small volume exchange and keeping your whole stash on such exchange in order to maximize manipulation effect or arbitrage opportunities (which would be a risky business)?

I don't lie about this stuff.

I didn't own any BTC, it was all in Alts.  I'm no techie so holding them on cryptsy which was never hacked was my best option.  Plus I traded a lot.

No, I'm all cleaned out now.  Starting from pretty much zero.

Read my riddle thread, I've been calling for Bitcoin going over $10,000 then over $100,000 since 2013.  I was the one who called Bitcoin hitting $1200 correctly in 2013, saying it would match gold in 12 months.  I've been telling everyone lately to not fall for games to dump their BTC cause the bankers are using propaganda to scare everyone out before the big run this year.

I'm ULTRA bullish on Bitcoin but there is much more going on and that's where my criticism comes in. 

Cheers!

Likely I was getting you mixed up with someone else, and surely sometimes it is difficult to understand some of the claims that people make regarding their own portfolios, situations or experiences because sometimes there is just misinformation floating around out there that claims to be based on actual experiences, but instead is based upon some fabrication of facts/experiences.

Now, predicting is another thing.  It surely seems difficult to predict with any precision, but we should be attempting to distribute our portfolios in accordance with our views of probabilities, our timeline, other diversification and our tolerance of risk.


At this point, I have my bitcoins spread out amongst various exchanges and wallets, and surely there is both 3rd party risk and risk regarding the overall ongoing value and bitcoin politics.  I find it very difficult to imagine losing any significant portion of my bitcoins, but surely it remains possible and even probable that there will be some losses here and there.


So far, most of my BTC losses have been due to some bad timing and/or acting or failing to act (which is more about failing to realize gains rather than actual losses). 

Recently, I had one situation in which I was scammed out of about 3BTC, and in that sense, I had really thought that I had received payment of fiat and payment of fiat was irreversible.. and at that point, I transmitted my irreversible BTC payment and the fiat payment did not go through (even though I really clearly thought that the fiat payment was in a "irreversible" status).  Anyhow, that particular bad transaction of mine ends up being a learning experience that I hope not to repeat that gets absorbed into my cost of doing business in BTC and my average price per BTC goes up because of that loss (fucked up outcome).  Even through my years of being involved in BTC, I have run into various costs, and I have undergone various kinds of risks, including various 3rd party risks.  Somehow, i hope to make up for my various losses and costs of engaging in the bitcoin investment arena to pay off and over the years through BTC price appreciation and continued trading of BTC my losses, costs and expenses will be absorbed.. and profits will significantly outweigh costs.

So, yeah, in the end, there are a lot of risks and fucked up things that make matters complicated and sometimes difficult to sort through the bullshit and to figure out possible future BTC performance and to invest accordingly.

[smfuser]

Recently, I had one situation in which I was scammed out of about 3BTC, and in that sense, I had really thought that I had received payment of fiat and payment of fiat was irreversible.. and at that point, I transmitted my irreversible BTC payment and the fiat payment did not go through (even though I really clearly thought that the fiat payment was in a "irreversible" status).

Would you mind explaining more about the method of fiat payment and how it was reversed?

[RealBitcoin]

Just think of what is the dollar equivalent. I believe the bitcoin wealth distribution follows the same mathematical distribution to a large extent.

A possible way to think is that "$25 million NW" is "elite" (replace the figure with anything that suits you). There maybe about 1 million such people among the 5,000 million adults in the world.

So if we take this example, the relative position to be in the "elite" is 0.02%. (In reality, even these, most are just normal guys. It is a controller tactic to paint these guys "rich" and "enemies of the working class", as has always been.)

My sources indicate that BTC has more owners now than 2 years ago, perhaps 5 million. So the 0.02% is 1,000 largest owners who are the "Bitcoin elite". If my calcs are not completely off, you only need about BTC500 to be among the 1,000 largest owners. This was the rough estimate, it's possible to spend more time on it to get a better one.

I`d say the top 2%, the top 0.02% is the super elite.

The rich class starts from 2%, and you only need like 5-10 BTC for that. Why? You can say its no big deal a few thousand $$.

But imagine in the future millions of newbies will join who have no option of earning but from faucets, or from buying at an ever increasing price.

Add also in the bitcoin black-holes, and forgotten priv keys, the price has to go up , most of the elite addresses are owned by nobody.

So even if you hold 10 BTC, if you hold that for the next 10 years, you will be the bitcoin establishment , and those coins could be worth a lot then.

[JayJuanGee]

Recently, I had one situation in which I was scammed out of about 3BTC, and in that sense, I had really thought that I had received payment of fiat and payment of fiat was irreversible.. and at that point, I transmitted my irreversible BTC payment and the fiat payment did not go through (even though I really clearly thought that the fiat payment was in a "irreversible" status).

Would you mind explaining more about the method of fiat payment and how it was reversed?

I used Venmo.  I received the fiat from the BTC purchaser, and then I transferred the fiat to my bank account.  Venmo's terms said that payments were not reverseable, so I thought that I was safe because it showed up in my Venmo account and then showed as transferred to my bank account.  Therefore, I sent the bitcoins to the BTC purchaser.  Thereafter, Venmo reversed my bank transfer and explained that there was a problem without specifying exactly what the problem was.. they implied that the BTC purchaser did not have funds in his account (but really I am not sure because those funds should not have been shown as received by me and then transferred to my bank account).     

[qiwoman2]

Just think of what is the dollar equivalent. I believe the bitcoin wealth distribution follows the same mathematical distribution to a large extent.

A possible way to think is that "$25 million NW" is "elite" (replace the figure with anything that suits you). There maybe about 1 million such people among the 5,000 million adults in the world.

So if we take this example, the relative position to be in the "elite" is 0.02%. (In reality, even these, most are just normal guys. It is a controller tactic to paint these guys "rich" and "enemies of the working class", as has always been.)

My sources indicate that BTC has more owners now than 2 years ago, perhaps 5 million. So the 0.02% is 1,000 largest owners who are the "Bitcoin elite". If my calcs are not completely off, you only need about BTC500 to be among the 1,000 largest owners. This was the rough estimate, it's possible to spend more time on it to get a better one.

I`d say the top 2%, the top 0.02% is the super elite.

The rich class starts from 2%, and you only need like 5-10 BTC for that. Why? You can say its no big deal a few thousand $$.

But imagine in the future millions of newbies will join who have no option of earning but from faucets, or from buying at an ever increasing price.

Add also in the bitcoin black-holes, and forgotten priv keys, the price has to go up , most of the elite addresses are owned by nobody.

So even if you hold 10 BTC, if you hold that for the next 10 years, you will be the bitcoin establishment , and those coins could be worth a lot then.

I remember the time I had 20 bitcoin made through translations, blogging and buying in some nice icos. Now I only have some in a few altcoins worth currently around 3 btc but now trying to get back to making one btc a month if at all possible to at least get to 10 btc a year. I am hoping b the time I am 60 I can retire with some btc at hand as I don't have a pension so if I stay alive over the next ten years I might manage it. I wonder where I can find the latest bitcoin richlist would love to know what it looks like currently.

[RealBitcoin]

I remember the time I had 20 bitcoin made through translations, blogging and buying in some nice icos. Now I only have some in a few altcoins worth currently around 3 btc but now trying to get back to making one btc a month if at all possible to at least get to 10 btc a year. I am hoping b the time I am 60 I can retire with some btc at hand as I don't have a pension so if I stay alive over the next ten years I might manage it. I wonder where I can find the latest bitcoin richlist would love to know what it looks like currently.

It must feel really bad having hundreds of coins and then later spending them which could not make you multimillionaire.

I joined btc much later and most of the coins i bought so i havent had anything close to that sum.

[Vlad2Vlad]

I remember the time I had 20 bitcoin made through translations, blogging and buying in some nice icos. Now I only have some in a few altcoins worth currently around 3 btc but now trying to get back to making one btc a month if at all possible to at least get to 10 btc a year. I am hoping b the time I am 60 I can retire with some btc at hand as I don't have a pension so if I stay alive over the next ten years I might manage it. I wonder where I can find the latest bitcoin richlist would love to know what it looks like currently.

You have 3 moths, max 6 months.

I too got in Bitcoin late, may 2013, after it hit $266.  And I am not a techie, never owned miners and had no money.

Soooo, anyone can become a multi millionaire in crypto, you just have to get involved, work hard and take logical but big risks.  The less you have the bigger the risks you need to take.  And that's one thing I'm good at.  I'm all in with the nothing I have. 

[JayJuanGee]

I remember the time I had 20 bitcoin made through translations, blogging and buying in some nice icos. Now I only have some in a few altcoins worth currently around 3 btc but now trying to get back to making one btc a month if at all possible to at least get to 10 btc a year. I am hoping b the time I am 60 I can retire with some btc at hand as I don't have a pension so if I stay alive over the next ten years I might manage it. I wonder where I can find the latest bitcoin richlist would love to know what it looks like currently.

It must feel really bad having hundreds of coins and then later spending them which could not make you multimillionaire.

I joined btc much later and most of the coins i bought so i havent had anything close to that sum.

Well, if we have a somewhat bullish view of bitcoin, then we can really consider mostly one main strategy and that is to accumulate BTC, somehow and within your means.

Surely, you can assert that "I used to have  X number of coins, but now I have X-Y number of coins," and that either demonstrates that you were not sufficiently bullish about bitcoin, you did not attempt to accummulate BTC or some tragedy struck that caused you to spend your BTC (which every little up and down in life should not be a tragedy unless you just overinvested and failed to have alternative financial sources).

So if your goal is to accumulate, then you largely should have a strategy to replace whatever you spend.

[JayJuanGee]

I remember the time I had 20 bitcoin made through translations, blogging and buying in some nice icos. Now I only have some in a few altcoins worth currently around 3 btc but now trying to get back to making one btc a month if at all possible to at least get to 10 btc a year. I am hoping b the time I am 60 I can retire with some btc at hand as I don't have a pension so if I stay alive over the next ten years I might manage it. I wonder where I can find the latest bitcoin richlist would love to know what it looks like currently.

You have 3 moths, max 6 months.

I too got in Bitcoin late, may 2013, after it hit $266.  And I am not a techie, never owned miners and had no money.

Soooo, anyone can become a multi millionaire in crypto, you just have to get involved, work hard and take logical but big risks.  The less you have the bigger the risks you need to take.  And that's one thing I'm good at.  I'm all in with the nothing I have. 

I don't really want to diss on you, but really, "nothing" is not a good place to be in regards to bitcoin or anything else.  And, really people with nothing are not in a really good experiential position to be suggesting what others should be doing, no?  I mean, maybe you understand in theory about what should be done, and maybe to suggest "don't do what I did," but really, we should take anyone with nothing with a grain of salt, if we are considering how to accumulate BTC and whether we want to strive to be in some kind of level of BTC accumulation (whether that be .1BTC or 10k BTC).   By the way, right now, as I type, .1 BTC can be obtained for anywhere between $40 and $50 depending on your BTC supply sources.

I understand tough times strike everyone, but everyone should have some kind of savings of something. 

The goal for savings is usually to attempt to have enough savings to live for 6 months off of the savings without any income (in an emergency), but I understand that it is not easy to get to the 6 month reserves point (but it is a goal to which to aspire), so even if some people have only enough savings to live for 1 month, they should attempt to put some of that into bitcoin (maybe starting with about 1% of their savings (or maybe .1 BTC), and if you are really poor then your amounts in bitcoin should probably not be a high percentage of your savings holdings because when you are poor you need some decent liquidity and as many of us already know, bitcoin has another tendency to be very price volatile and some other liquidity downsides).