If most of Bitcoin is owned by few it cannot be a store of wealth for all

[Tekunda]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

[Jawhead999]

BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?

Probably it's for a investment, just like gold.

I understand the current fees is quite high, so it's not recommended to transfer/spend little amount Bitcoin. But we can't know the future, does Lightning network will be used worldwide next? It will solve the high fees problem.

I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.

People can choose what they want to invest/buy, but Bitcoin as a mother of cryptocurrencies can't be forget. It's the first crypto that ever exist and already reach top 6 on total market capitalization of all company in this world.

If the world will accept crypto as currency, it won't be BTC.

Read https://www.opennode.com/blog/bitcoin-regulation-which-countries-are-bitcoin-friendly/

[Tekunda]

BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?

Probably it's for a investment, just like gold.

I understand the current fees is quite high, so it's not recommended to transfer/spend little amount Bitcoin. But we can't know the future, does Lightning network will be used worldwide next? It will solve the high fees problem.

I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.

People can choose what they want to invest/buy, but Bitcoin as a mother of cryptocurrencies can't be forget. It's the first crypto that ever exist and already reach top 6 on total market capitalization of all company in this world.

If the world will accept crypto as currency, it won't be BTC.

Read https://www.opennode.com/blog/bitcoin-regulation-which-countries-are-bitcoin-friendly/

I concur that bitcoin, like gold will serve as a store of value and not disappear.
But most people today have already trouble to make both ends meet, so the majority of people don't have the extra wealth to store it through bitcoin. Most people do not own gold and neither will they own bitcoin.
But everybody buys and sells.
So again, bitcoin will not disappear, but it will not play an important role in one's personal life for most of us.But if you can buy your groceries with crypto this is important.
So IMHO, if we pick the right coins today, which will become currency tomorrow, this is the last chance to make a fortune.
In a few years, once these coins are established currency, it will be too late to make 100+ gains.

[Sterbens]

it is quite logical when dealing with the current condition of bitcoin, it is very friendly for those who have thick finances. I don't deny it. because it is said to be a store of wealth if someone buys bitcoin in 2014. you will definitely be lucky.
yes we should be able to see other altcoins whose position is of great concern in the cryptocurency industry. Therefore, as small traders, we have a great opportunity to choose an altcoin that has the potential to become like Ethereum.

[ecnalubma]

We still should own atleast a portion of it. It is expensive but definitely its the best store of value, I think this years bullrun will be unstoppable. But of course lets not forget to make a plan B by diversifying portfolios if the market goes wrong just in case.

[avikz]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

There are two legs to your statement.
1. Store of wealth
2. Use as currency

Most of the cash is owned by riches of the world but it is still a store of value for the mass! So I don't think bitcoin will have any issue to become a store of value for the mass! Rather, bitcoin will continue to become even more expensive as more and more riches will show interest in bitcoin. So rightfully bitcoin will become an investment for all segments of people, not a currency! That is ideally the store of wealth like Gold!

Use as currency is something, will be dominated by other cryptocurrencies in the market. It can be XLM, XMR, or anything else! But bitcoin indeed is not feasible for small transfers, not even ETH! Both have become very expensive! So the community will definitely find something cheaper and faster to transact on daily basis! But what coin would that be - the time will tell!

[20kevin20]

I don't know the exact percentage, but most of BTC is owned by a few.

Just like in any other investment domain, the rich own the majority. They will always have an advantage in the game: as long as you have the resources, you can have the best advice and take the best step in the domain you're willing to invest.

what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

Other coins are faster but have other features they sacrifice, such as decentralization and security. Bitcoin will likely serve as a store of value for the rich, just like gold is today.

the majority of people don't have the extra wealth to store it through bitcoin. Most people do not own gold and neither will they own bitcoin.
But everybody buys and sells.
So again, bitcoin will not disappear, but it will not play an important role in one's personal life for most of us.But if you can buy your groceries with crypto this is important.
So IMHO, if we pick the right coins today, which will become currency tomorrow, this is the last chance to make a fortune.
In a few years, once these coins are established currency, it will be too late to make 100+ gains.

Here's the fun part: 1g of gold is quite expensive for the average person to invest in.. especially when you know that the less grams you purchase, the more it costs per gram. On the other hand, the smallest amount of BTC you can own is $0.000547. You don't need to spend $54.7k on a BTC to own it. You can own as much as you want, starting from the 100 millionth part of a Bitcoin.

If the consensus ever changes and more decimals are added, you will be able to own even more. Lots of people have the wrong idea that you have to purchase an entire coin. You don't.

So again, bitcoin will not disappear, but it will not play an important role in one's personal life for most of us.But if you can buy your groceries with crypto this is important.

Decentralized assets will never become an important role in our personal lives. Governments won't allow that to happen because they can't control these assets. Hence, what you're looking for is CBDCs. But they're gonna be centralized, the government will inflate them exactly like they do it today with fiat and your wealth will never grow. In fact, exactly the opposite will happen: your wealth will be reduced every single year by the annual inflation rate.

So IMHO, if we pick the right coins today, which will become currency tomorrow, this is the last chance to make a fortune.
In a few years, once these coins are established currency, it will be too late to make 100+ gains.

It's not the last chance - you're still an early bird. We all still are early birds, since the blockchain technology has only existed for a little over a decade so far. It's like the humanity only discovered gold 12 years ago.

Centralized coins are going to be fast, cheap and so on - but they will never let you grow financially. So those "100+ gains" will only turn out to be a dream. If you want to sustain the actual system, I honestly think investing in fiat is much better than investing in centralized currencies at this point.. especially considering what XRP has gone through recently.

Bitcoin will stay as the king of cryptocurrencies, and nothing will change that. Many other altcoins are just testing grounds for new Bitcoin tech and features.

[Maus0728]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

No matter how much would be the gap of number of huge BTC owners compared to small investors, the idea of BTC at the first place remains intact and pretty simple. People and strong hand investors sees it not as to store their wealth, but an innovative solution to the problems of the monetary system and fiat -- more specifically a mode of long term investment as they sees it to be the biggest opportunity for their initial deposits to gain profit from time to time. And no, fees are already an issue with BTC especially as the more it grows its volume, the higher the transactions on a single period of time which then makes priority fees more expensive. Hence, if it would ever be the main coin of the future, BTC must gain fast and cheap transaction first.

I somehow agree on your last statement, but not to the point that people would forget bitcoin. Remember, there is still a huge chance that BTC would skyrocket more, and spreading FUDs and even having no trust on its capability might only end you regretful in the future. Study Bitcoin Dominance as well, it has a huge effect on the price of the alts, hence BTC's movement would affect some alts, and must always be considered.

[shield132]

If 13.5% means most for you, then yeah, only 98 address holds that number of coins but you have to consider that most of the coins are owned by exchanges like most percentage of gold owned by banks. I would forget the 3 addresses that hold roughly 2% of coins. Btw I don't understand what's wrong with btc as a store of wealth and can't hear good argument on it from anyone.

And bonus!

Here are the statistics that I took from Coinmarketcap (and used Mitchell's forms, hope he doesn't get angry ).

Holding Concentration

|

Balance

|

Addresses

|

% Addresses

|

Coins

|

% Coins

|

|

0 - 0.001

|

17,903,590

|

50.47%

|

3,688 BTC

|

0.020%

|

|

0.1 - 1

|

2,360,207

|

6.65%

|

742,342 BTC

|

3.984%

|

|

1 - 10

|

680,684

|

1.92%

|

1,747,626 BTC

|

9.380%

|

|

10 - 100

|

133,185

|

0.38%

|

4,319,544 BTC

|

23.184%

|

|

100 - 1000

|

13,739

|

0.039%

|

3,591,290 BTC

|

19.275%

|

|

1000 - 10000

|

2,359

|

0.0066%

|

5,471,989 BTC

|

29.370%

|

|

10000 - 100000

|

95

|

0.00027%

|

2,172,768 BTC

|

11.662%

|

|

100000 - 1000000

|

3

|

0.0000085%

|

367,948 BTC

|

1.975%

|

[sheenshane]

Most of the cash is owned by riches of the world but it is still a store of value for the mass! So I don't think bitcoin will have any issue to become a store of value for the mass! Rather, bitcoin will continue to become even more expensive as more and more riches will show interest in bitcoin. So rightfully bitcoin will become an investment for all segments of people, not a currency! That is ideally the store of wealth like Gold!

I tend to agree with this statement since Bitcoin continues itself becomes more expensive, it's a store of wealth that could gain profit upon storing it.
The only problem that I see in Bitcoin, (for now) is the high fees that could have to affect the speed of transaction becomes slower.  But technically, we have different solutions for that like using Lightning Network and all medium exchanges should use the SegWit address.

But when it comes to the rules, Bitcoin didn't have failure such as.

• Being anonymity
• Has Limited Supply
• No Government control
• Easier cross border transactions

[20kevin20]

But when it comes to the rules, Bitcoin didn't have failure such as.

• Being anonymity

Pseudonymous, not anonymous. If there's anything Bitcoin is missing, it's anonymity for sure.

[hatshepsut93]

Bitcoin has much better distribution than most altcoins which have huge premines by developers. Even your XLM shitcoin that you are shilling here has 19% of its supply reserved for devs.

And it's not a problem that for now only millions of people own Bitcoin, more people will adopt it in the future. Credit cards or the Internet was also at some point a technology available only for the few.

Since Bitcoin doesn't have most of its supply belonging to a single entity, there's no significant risks for decentralization or store of value use case.

[mk4]

I concur that bitcoin, like gold will serve as a store of value and not disappear.
But most people today have already trouble to make both ends meet, so the majority of people don't have the extra wealth to store it through bitcoin. Most people do not own gold and neither will they own bitcoin.

Well, sure. To store value, you need to have money to store in the first place. The thing is, Bitcoin is just a tool that they can take advantage of when they're trying to protect their money from inflation. Bitcoin isn't some magic bullet that could magically get people out of poverty; which for some reason people think is the case.

[Bitcoinislife09]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.
BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.
So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

A lot of people in the cryptocurrency community even me I considered a lot of altcoins in the market that could possibly become an alternative for bitcoin. I think there is a profit that can be made when it comes to the altcoin market even though there are some that just copy the purpose of bitcoin still there are some altcoins that have a different purpose and have potential when it comes to long term investment. If the world will accept cryptocurrency I really think it will be bitcoin as the number 1 cryptocurrency. Even though bitcoin already has a high market price I still think that it will continue to skyrocket.

[Poker Player]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.

Hey man, your logic is so overwhelming that it blows me away. Who taught you? Pythagoras?

The answer you are looking for has already been given to you:

Most of the cash is owned by riches of the world but it is still a store of value for the mass!

So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

You keep your shitcoins for yourself. I'll keep bitcoin. Are centralized currencies more egalitarian than Bitcoin? LOL.

[kryptqnick]

Op, most of the gold is owned by rich people, but it can be a store of wealth for anyone who buys it. As for Bitcoin, I think it's too volatile to be a store of wealth for anyone, but if we omit this consideration, there are other important things. For one, it's not a fact that the majority of BTC is owned by a small bunch of rich people. If you're referring to the richest Bitcoin addresses, many of those belong to exchanges and actually have the money of tons of people, so it doesn't count. And even if we ignore this, Bitcoin can be a store of wealth just like gold. To that you replied that people don't have extra wealth, but then the problem is that people don't have wealth, not that they can't store it in BTC.

[DarkIT]

Op, most of the gold is owned by rich people, but it can be a store of wealth for anyone who buys it. As for Bitcoin, I think it's too volatile to be a store of wealth for anyone, but if we omit this consideration, there are other important things. For one, it's not a fact that the majority of BTC is owned by a small bunch of rich people. If you're referring to the richest Bitcoin addresses, many of those belong to exchanges and actually have the money of tons of people, so it doesn't count. And even if we ignore this, Bitcoin can be a store of wealth just like gold. To that you replied that people don't have extra wealth, but then the problem is that people don't have wealth, not that they can't store it in BTC.

It doesn't mean like that. The person holding is only the asset for them. The remaining are common to all. We all can share it. Now after the investment of testla, huge new traders get into the platform of trading and investing in bitcoin.We don't know, the Ethereum price also reach 5000$ in a week.

[posi]

I don't know the exact percentage, but most of BTC is owned by a few.
So logically, BTC can never become a store of wealth for the masses.

There is high odds for Bitcoin not to be store of wealth for masses which is the price aspect of it but the dream every common people is to hold a single Bitcoin which I think it possible for the masses that joined the system early.
 

BUT if BTC cannot serve as storage of wealth for all and neither as day to day currency due to very slow and increasingly expensive transfers, what role will BTC play in the future?
I honestly think that it will become a billionaire's toy in the future and coins like XLM which offer incredibly fast and inexpensive transfers, will play the major role in the financial day to day transactions.

It not always about the fast transaction but the magnificence of the project and if it about the fast transaction coin like XLM will have gain more usage than Bitcoin.
With that been said, in the future when the total 21Million Bitcoin is mine, Bitcoin could be toy for Billionaire but coin like XLM will never play the role of day to day transaction use.

So I believe that the people who have just started to invest in crypto should consider these other coins and forget about bitcoin.
If the world will accept crypto as currency, it won't be BTC.

You lack the understand of the concept and you should ask yourself that despite the limited transaction per second of Bitcoin why did it gain alot of attention. Like I said early, it never about tps but the trust and magnificence of the project.

[AakZaki]

if it is used as a store of bitcoin wealth, of course, it will be very risky because of the very high fluctuating value of bitcoin. Price changes will be faster. You can gain and lose from bitcoin if it is used as a store of wealth. It also depends on how much you buy bitcoins. Bitcoin is not a good store of wealth in my opinion.
Bitcoin remains the first cryptocurrency and the center of all crypto.

[verita1]

I think that bitcoin can be useful for everyone. But obviously those who have accumulated more bitcoin will obtain more profits.
An important thought is that bitcoin and what other cryptocurrencies protect us from inflation.
It is true that when we experience a bitcoin bull run like now, the fees are excessive and the safest thing is that we hold bitcoin and use another cryptocurrency for our daily needs.
At the end of the day that is what we seek to keep bitcoin as a store of value. In the most recent news we have seen large investors who own wealth and have turned to bitcoin for the opportunity to invest their capital and protect them.