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 Author Topic: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list?  (Read 1528 times)
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 How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 02:12:21 AMLast edit: May 26, 2011, 02:31:51 AM by Vladimir

How much bitcoins one need to get in upcoming (eventually) Forbes 500 list?

I mean the list of  500 largest bitcoin fortunes.

Assuming that current bitcoin owning population is 60 000 and there are 6 million bitcoins and Pareto principle applies recursively it can be calculated that at the moment one needs just about 3000 BTC to get into the top 5oo.

But I could have messed up the math, of course.

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AtlasONo
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 02:51:46 AM

Still got a long way to go.
newMeat1
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 05:09:46 AM

I decided to get nerdy with this

3 steps of Pareto's Principle gets:

(.8^3)*6Million= 3.07 M BTC
(.2^3)*60000=480 users
So the top 480 would average (3.07M/480)= 6400 BTC

One more step gets 2.5M BTC and 96 users, or 25 500 BTC average for the top 96. That worked out pretty close to reality.
http://bitcoinreport.blogspot.com/2011/03/bitcoin-top-100-rich-list-20th-march_20.html

w128
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 05:10:16 AM

There's something I don't understand...

Is it actually possible to track and estimate the size of some other individual wallet? I've seen the posts referencing users who have/had tens of thousands of BTC but, without any way to track their transactions it's entirely possible that they take profit daily and those coins have since been redistributed.

The amount of coin being traded would suggest that a lot of it is being held but, how can someone say whether that hoarding is confined to a few individuals?
Jaime Frontero
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 05:24:27 AM

There's something I don't understand...

Is it actually possible to track and estimate the size of some other individual wallet? I've seen the posts referencing users who have/had tens of thousands of BTC but, without any way to track their transactions it's entirely possible that they take profit daily and those coins have since been redistributed.

The amount of coin being traded would suggest that a lot of it is being held but, how can someone say whether that hoarding is confined to a few individuals?

you could probably wade through the blockchain to discover that the list of "top 100", referenced above, likely included multiple wallets held by single individuals.  i don't know - and there's no way to tell for sure - but i would suspect so.

i also don't care.  more power to them.

and i am quite content to think that i'll be able to afford a small sailboat which will run rings around vladimir's mega-yacht.  we'll all have a party on the costa del sol, one of these days...
bcpokey
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 05:48:00 AM

wow @ the guy with 250,000 bitcoins. well done sir.
AaronM
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 08:26:03 AM

I think analysis of trade patterns (which addresses have transactions close together in time on multiple occasions?) and number "roundness" (round number like 1000? 24.170000? 24.1768295?) would give away a lot of information about which bitcoin addresses are part of the same wallet.  No hard facts, though.

Spare some BTC for a biology student? 1DZcEUEo9rX7LQWcYzVR6Btqj2sMqRznbB
jerfelix
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 Re: How much bitcoins one need to get in upcoming (eventually) Forbes 500 list? May 26, 2011, 12:19:22 PM

wow @ the guy with 250,000 bitcoins. well done sir.

Don't insult him!  He actually has 250,000.01 !

http://bitcoinreport.blogspot.com/2011/03/bitcoin-top-100-rich-list-20th-march_20.html

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