100 bitcoins. Will I be a millionaire by 2020?

[coinableS]

definitely not all wealth will transfer into bitcoin. I mean houses for example will never be replaced by bitcoin.

At the same time though, bitcoin may create many new wealthy people. I bet hundreds of that first group got there with the internet, and thousands of the 100M or 50M groups got there via the internet.

so bitcoin may do the same.

Facebook's IPO created 1000 millionaires.
http://www.reuters.com/article/2011/12/08/us-facebook-millionaires-idUSTRE7B72NK20111208

Bitcoin created a similar number of millionaires in 2013, but you had to be in the top 1000 holders. Which coincidentally meant that you needed around 1000 BTC according to rpietila's estimate.
https://bitcointalk.org/index.php?topic=316297.0

Think of it in percentage terms. Ideally, you want to be in the top 0.1% to 1%. Those are the people who are going to become wealthy if BTC is successful.

Don't expect the hundreds of thousands of average people who own 1-10 BTC to also become millionaires in 2020. You need skin in the game.

That might not be that exclusive or difficult if you think about it.
I know a lot people dismiss the bitcoin rich list since a lot of people hold coins on multiple addresses instead of just one.
I still think it's surprising that there is only 250,000 addresses with 1-10 BTC in it. And only 369,758 address with >1 BTC.

[jehst]

definitely not all wealth will transfer into bitcoin. I mean houses for example will never be replaced by bitcoin.

At the same time though, bitcoin may create many new wealthy people. I bet hundreds of that first group got there with the internet, and thousands of the 100M or 50M groups got there via the internet.

so bitcoin may do the same.

Facebook's IPO created 1000 millionaires.
http://www.reuters.com/article/2011/12/08/us-facebook-millionaires-idUSTRE7B72NK20111208

Bitcoin created a similar number of millionaires in 2013, but you had to be in the top 1000 holders. Which coincidentally meant that you needed around 1000 BTC according to rpietila's estimate.
https://bitcointalk.org/index.php?topic=316297.0

Think of it in percentage terms. Ideally, you want to be in the top 0.1% to 1%. Those are the people who are going to become wealthy if BTC is successful.

Don't expect the hundreds of thousands of average people who own 1-10 BTC to also become millionaires in 2020. You need skin in the game.

That might not be that exclusive or difficult if you think about it.
I know a lot people dismiss the bitcoin rich list since a lot of people hold coins on multiple addresses instead of just one.
I still think it's surprising that there is only 250,000 addresses with 1-10 BTC in it. And only 369,758 address with >1 BTC.

First you have to discard 98% of those addresses because they have ~0% of all bitcoin. Then you have to be at the top .1% of that list. Then it gets exclusive again.

[Alley]

Ya that list is a joke.  Needs to start at .1 btc.  If you have more then 100 btc I'd say you are in the top 1%. 

[Cconvert2G36]

Additionally, the list is only a lower bound of wealth concentration in bitcoin. Generating many addresses is trivial, and probably best practices for large holders. 

[pooya87]

That might not be that exclusive or difficult if you think about it.
I know a lot people dismiss the bitcoin rich list since a lot of people hold coins on multiple addresses instead of just one.
I still think it's surprising that there is only 250,000 addresses with 1-10 BTC in it. And only 369,758 address with >1 BTC.

interesting table, what is the source?

if the addresses are all bitcoin addresses instead of non 0 balance adress. the first row should be excluded. so 0.01-0.1 would be the majority.

[Amph]

definitely not all wealth will transfer into bitcoin. I mean houses for example will never be replaced by bitcoin.

At the same time though, bitcoin may create many new wealthy people. I bet hundreds of that first group got there with the internet, and thousands of the 100M or 50M groups got there via the internet.

so bitcoin may do the same.

Facebook's IPO created 1000 millionaires.
http://www.reuters.com/article/2011/12/08/us-facebook-millionaires-idUSTRE7B72NK20111208

Bitcoin created a similar number of millionaires in 2013, but you had to be in the top 1000 holders. Which coincidentally meant that you needed around 1000 BTC according to rpietila's estimate.
https://bitcointalk.org/index.php?topic=316297.0

Think of it in percentage terms. Ideally, you want to be in the top 0.1% to 1%. Those are the people who are going to become wealthy if BTC is successful.

Don't expect the hundreds of thousands of average people who own 1-10 BTC to also become millionaires in 2020. You need skin in the game.

That might not be that exclusive or difficult if you think about it.
I know a lot people dismiss the bitcoin rich list since a lot of people hold coins on multiple addresses instead of just one.
I still think it's surprising that there is only 250,000 addresses with 1-10 BTC in it. And only 369,758 address with >1 BTC.
snip

First you have to discard 98% of those addresses because they have ~0% of all bitcoin. Then you have to be at the top .1% of that list. Then it gets exclusive again.

you also need to add in the equation, the fact that many addresses that hold a relatively small amount could belong to one person, so that table is flawed a bit...

[extrabyte]

OP does he have the balls to hold it?  If yes, then yes it is a good idea.  Hold for 5 years.

[libertad]

Yes, you will be a millionaire but not in today's dollars.

[CoinCidental]

Yes, you will be a millionaire but not in today's dollars.

In 2020 dollars?
The coins will keep  creeping up in value particularly after the next halving, I think it's inevitable that the decimal point will be moved in the next few years  as people make purchases with small fractions of a whole Bitcoin etc an easier system will be devised

Just a matter of time and why stop at 100 btc? A million bucks was a lot of money years ago but now id want more to consider myself  "wealthy" in any capital western
city

[Hollingsworth]

I think the answer is yes.

More importantly, you will then need a pool cleaner, and I am available!

[BlackSpidy]

Definitely not by 2020. You will be a millionaire by 2030 if you manage to HOLD 100 bitcoin.

[bobc1994]

you can't get rich or 10x return without some risk. gamble only what you afford to lose, keep everything else in cold storage, far enough so that it will be inconvenient to panic sell.

[BitmoreCoin]

Definitely not by 2020. You will be a millionaire by 2030 if you manage to HOLD 100 bitcoin.

Probably right.

[Amph]

Definitely not by 2020. You will be a millionaire by 2030 if you manage to HOLD 100 bitcoin.

why 2030? after 2024, there will be no more difference in the supply, 20M vs 21M having 1M more will not cause any difference for a bitcoin skyrocketing

basically miners dump will be negligeable, and it will not cause any major dumping in the market anymore, so in theory the price should skyrocket between 2024-2030

[HarHarHar9965]

By 2020, I don't really believe that a bitcoin may have the capability to hold 10000 usd but I would sum it around 3,500$. That would be the first bitcoin bump which will happen, later giving ride to a 10k bump after the next 5/6years. It will graduate slowly and fluctuations will rise higher.

[futureofbitcoin]

Definitely not by 2020. You will be a millionaire by 2030 if you manage to HOLD 100 bitcoin.

why 2030? after 2024, there will be no more different in the supply, 20M vs 21M having 1M more will not cause any difference for a bitcoin skyrocketing

basically miners dump will be negligeable, and it will not cause any major dumping in the market anymore, so in theory the price should skyrocket between 2024-2030

because the effect of the mining reward on the price of every bitcoin in existence is way overrated?

[Hyena]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

[Amph]

Definitely not by 2020. You will be a millionaire by 2030 if you manage to HOLD 100 bitcoin.

why 2030? after 2024, there will be no more different in the supply, 20M vs 21M having 1M more will not cause any difference for a bitcoin skyrocketing

basically miners dump will be negligeable, and it will not cause any major dumping in the market anymore, so in theory the price should skyrocket between 2024-2030

because the effect of the mining reward on the price of every bitcoin in existence is way overrated?

if this is the case, then we could rise even now to unbelievable level or in 2-5 year, so you are only reinforcing my point

but you can't deny that miners dumping is overrated, without it , bitcoin would have been much higher in price

china surely is not holding for the future, they don't care

[Fullbuster]

YES.

Bitcoin went from 1$ to 1000$ in 5 years.
It will go from 1000$ to 1000000$ in the next 5 years because of the universal law of speculative extrapolation.

100 BTC by 2020 will make you filthy rich. The problem with those kinds of riches is that most people think they don't deserve such wealth so they will make every mistake possible to remain poor.

Well, this is something that i find very logical in this week.
You might end up rich but this is bitcoin, we have seen times that it hit 1k now it is relaxing a bit but a breakthrough is on its way.

[gerXhonza]

I think the answer is yes.

More importantly, you will then need a pool cleaner, and I am available!

You should work on not having to be a pool cleaner if you believe bitcoin is going to go to $10,000 per coin, saying that though can't knock a pool cleaner "working" outside, I will employ you also but try get some coin for yourself.

OP I doubt very much you will be a millionaire with just 100btc value 10k per coin, maybe be more realistic and 1000btc-2000btc, $500-$1000 would get you there if that is your goal or wanted.