How much is a LOT of BTC?

[pitbully2000]

I know it's all relative...
I guess I'm a "bulltard"? or just a "hodler"?
But I hung onto coins I purchased for half of the current price and since then I got caught up in mining etc. Wondering what the general consensus is as far as how many I'm going to need to retire on (if it does indeed climb to that level of purchasing power)
 I don't trade or anything like that and I'm acquiring more VERY slowly via my small farm (I have 1 small asic and a few multi gpu miners...I mine for alts and exchange them for BTC). I guess I'm asking for speculation on when does one have ENOUGH coin to either be loaded..or broke, come 2020. I've always figured I have enough now, but when I see prices this low I can't help but fight the "panic buy" feelings
 I'm holding until then for better or worse..I figure I spent the equivalent of a weekend in Vegas on my stash so "to the moon" or not...I'm not going to lose my shirt either way
 I'm already expecting the "yer fucked" or "yer gonna be rich" speculators so fire away...can't hurt my feelings HA! But I would truly appreciate any wisdom thrown my way.
 Oh yeah...I already know "no one can predict the future" that's why I'm asking for speculation on the SPECULATION board
 Thanks a bunch

[Morecoin Freeman]

Something like 1000 bitcoins?

[stonerider]

More like, 10,000 coins. One thousand coins is not a LOT of btc, in my humble opinion. Five thousand to ten thousand, now we're talking.

[gentlemand]

If BTC really did become a globally used system 10,000 coins would make you galactically, ludicrously rich. There'd never be more than 2100 people on the planet who could have the same amount, obviously a lot less when lost and Satoshi coins are taken into account.

By 2020 we'll have a much clearer idea of where it's all headed. If it does look like it'll hold a decent fraction of world value then 50-100 would make for a very, very sweet life. Owning a whole coin would be beyond the reach of all but a relative few.

[zimmah]

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

100+ will most likely make you extremely rich.


If bitcoin doesnt take off, well then it doesnt really matter a lot does it?

[Chef Ramsay]

I would concur that 10 coins is plenty to retire on in ten years if you think that bitcoin will have succeeded in some way down the line, maybe even 5. I like to error on the side of having 25 or more, just in case.

[N12]

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

21000000/7000000000=0.003, no?

So 3 mBTC each.

[CoinCidental]

i had the opportunity to buy coins in the $2-6 usd range in 2012
i bought 5k  btc as that was as much as i was willing to risk 3 years ago
if i knew everything that has transpired since  i would have bought MOAR but what can you do ......

even back then as soon as i saw it  i knew it was modern equilavent to the invention of the lightbulb or the telephone  but there was no stores accepting it back then  except alpaca socks and and a few obscure retailers selling things i would never buy anyway

its growing at monstrous proportions although this isnt currently reflected in the coin price i believe it soon will be

[serje]

I hope my 0.03132922 BTC will be a LOT!!!!
If we get to 5.000.000$ a coin


It only depends on the price

[CoinCidental]

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

21000000/7000000000=0.003, no?

So 3 mBTC each.

since it will take 140 years to mine all 21 mil btc
and a lot of wallets and coins will be lost forever (like satoshis million etc )
and population might  double in this amount of time
theres not a hope that everyone could have 0.003 of a btc

also no hope of fair and equal distribution ,there is always going to be people like winklevoss with billions of dollars worth and people with hardly any or even none

[ianferns]

A lot of BTC is just like a Lot of Money. That would answer the question itself.,

[Biodom]

Interesting conversation.
Several points:
1. it does not matter how high bitcoin will go. YOU would not be able to resist selling basically all of it at 10X appreciation to the price you bought it.
It is impossible for 99% of investors to resist selling at ten-bagger, so maybe there will be few people like this, but just a few individuals.

2. in all these predictions, i could never understood what you all think the current financial elite would do:
a. do you think that they will stay idly by and let a "new" elite get rich?
b. if not, will they try to change the team-i don't think so, they are quite satisfied with the status quo.
c. will they try to prevent this new future from happening-I am afraid so-just look at UK making lots of moves against bitcoin.

3. we might not like to be super rich with bitcoins for multiple reasons-safety is one, for example.

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

21000000/7000000000=0.003, no?

So 3 mBTC each.

since it will take 140 years to mine all 21 mil btc

yes, but ~94% of all bitcoins will be already issued (mined) by 2024, a mere nine years from now.

[pooya87]

it all comes down to price and acceptance
if it not accepted by masses then it doesnt really matter how much you own since it has no value
but if the price goes up as everybody wishes, then i think even 10 BTC is going to make you rich

[GÜNther.Danish]

I'm pretty sure that you just miss a little luck, don't dump them until the sun comes out again

[CoinCidental]

Interesting conversation.
Several points:
1. it does not matter how high bitcoin will go. YOU would not be able to resist selling basically all of it at 10X appreciation to the price you bought it.
It is impossible for 99% of investors to resist selling at ten-bagger, so maybe there will be few people like this, but just a few individuals.

2. in all these predictions, i could never understood what you all think the current financial elite would do:
a. do you think that they will stay idly by and let a "new" elite get rich?
b. if not, will they try to change the team-i don't think so, they are quite satisfied with the status quo.
c. will they try to prevent this new future from happening-I am afraid so-just look at UK making lots of moves against bitcoin.

3. we might not like to be super rich with bitcoins for multiple reasons-safety is one, for example.

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

21000000/7000000000=0.003, no?

So 3 mBTC each.

since it will take 140 years to mine all 21 mil btc

yes, but ~94% of all bitcoins will be already issued (mined) by 2024, a mere nine years from now.

thats a positive imo
nobody here wants to wait 140 years until btc is in wide circulation
but hopefully the decreasing rewards + increasing  transaction fees will incentivise the miners to keep mining if the current calculations are still profitable in 9+ years from now

[zimmah]

Interesting conversation.
Several points:
1. it does not matter how high bitcoin will go. YOU would not be able to resist selling basically all of it at 10X appreciation to the price you bought it.
It is impossible for 99% of investors to resist selling at ten-bagger, so maybe there will be few people like this, but just a few individuals.

2. in all these predictions, i could never understood what you all think the current financial elite would do:
a. do you think that they will stay idly by and let a "new" elite get rich?
b. if not, will they try to change the team-i don't think so, they are quite satisfied with the status quo.
c. will they try to prevent this new future from happening-I am afraid so-just look at UK making lots of moves against bitcoin.

3. we might not like to be super rich with bitcoins for multiple reasons-safety is one, for example.

depends on if it takes of or not.

If we assume 1% of the world wants bitcoins at some point in the future (and we divide it evenly among those people) that would mean each person would only have 0.295 bitcoin.

So by that logic, even having 1 bitcoin would be plenty.

At any rate, 10 bitcoin should probably be more than enough to retire on if you are not planning to retire for the next 10 years or so.

21000000/7000000000=0.003, no?

So 3 mBTC each.

since it will take 140 years to mine all 21 mil btc

yes, but ~94% of all bitcoins will be already issued (mined) by 2024, a mere nine years from now.

thats a positive imo
nobody here wants to wait 140 years until btc is in wide circulation
but hopefully the decreasing rewards + increasing  transaction fees will incentivise the miners to keep mining if the current calculations are still profitable in 9+ years from now

did everyone just miss the 1% part?

or did we suddenly colonize 100 other planets and we actually have a population of 700 billion now?

ye, if 100% of human population actually uses bitcoin than it will indeed be 3 mBTC each, and in that case, you'd be incredably rich with just 1 bitcoin.

However, the question remains will this ever happen or not?

sure i hope so, as it would most likely be a better world for everyone, and especially for all of us. But I guess at least 1% is pretty realistic.

Either way, you will not need thousands of bitcoin.

[Patel]

Beauty is in the eye of the beholder.

[grendel25]

Technically, any whole number more than 1 bitcoin is a "lot" of bitcoin.  Of course the question is completely relative and irrelevant or relevant depending on who's answering and who's listening.  I'd be happy with any continuous stream of income be it bitcoin or anything liquidatable

[b!z]

Beauty is in the eye of the beholder.

/thread. There's no point arguing on something with no clear definition.

[tss]

sometimes this forum confuses the hell out of me.  
i'm all positives on btc and blockchain tech.  

that said, when you think buying something today for $200 and then in 10-20 years you'll all just be rich, all i can say is WOW.  

maybe i missed something but, this feeling of "our technology entitles us to all be rich one day" is out of line with reality.

this entitlement feeling makes me think maybe btc is actually WAAAAY overvalued and we're all due for a rude awakening.