Is Every USD Millionaire Rich Enough to Buy Bitcoin ?

kingscrown (81) in bitcoin • 7 years ago

The question may look obvious at some point. Bitcoin is in ATH of 11k USD and millionaires have millions.

So depending on this and other predictions i have found there is 17million up to 50 million millionaires in the world.

Currently there as 16,707,338 BTCs+ in circulation. Of course many are lost or never moved but lets stick to this number.

So math here shows without a doubt - not every millionaire has enough money to have 1 full BTC!

The implications of this may have loads of outcomes. I wont speculate on that - you can reply in comment.
Maybe having 1 BTC at some point in future will mean more for prestige than having a Lambo and Yacht ?

That is why i encourage everyone to do their best and get at least 1 BTC if possible.

McAfee Doubles

First he said it will be 500k USD by 2020, now he says 1 million or he will do something nasty.

He is a nasty guy though, watch documentary about him on Netflix.

Bitcoin Markets

Notice nice opportunity on Binance (doesnt need ID verification) vs Bittrex. Theter you can get from BitFinex cheap too (as they are the source).

Follow, Resteem and VOTE UP @kingscrown creator of http://fuk.io blog for 0day cryptocurrency news and tips!

bitcoin blockchain cryptocurrency money funny

7 years ago by kingscrown (81)

$162.28

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swissclive (63) · 7 years ago (edited)

I did quite a few studies published on Steemit using the Credit Suisse Wealth Report and comparing wealth bands with the number of bitcoin addresses of a certain size. The simple conclusion is that if the top 25% by wealth tried to invest 1% 0f their wealth in bitcoin, it would absorb $4 trillion. In other words, it can’t be done at today’s prices.

In another study I illustrate how doubling the number of bitcoin investors, does not double the price but has a leveraged effect of maybe 20 times the old price.

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javybar (65) · 7 years ago

interesting, thanks for the information.

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1 vote

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thecryptotrader (63) · 7 years ago

Sure they have!

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1 vote

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captaincanary (58) · 7 years ago

I still need to watch that McAfee documentary, have heard it's worth a watch though. As for there number of bitcoins to number of millionaires thing, I'm not sure how useful that information is but it's certainly interesting and a good indicator as to the scarcity of bitcoin

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1 vote

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pawsdog (55) · 7 years ago

I'm still curious about that whole eat his dick bet, how that is going to work out for him...

Would you like some wine with your meal sir?

It's going to be interesting but there is so much going on in crypto right now that has the possibility to seriously derail things in the short term..

@cryptographic

https://steemit.com/trading/@cryptographic/a-disaster-in-the-making#@cryptographic/re-pawsdog-re-cryptographic-a-disaster-in-the-making-20171203t183356320z

@pawsdog

https://steemit.com/bitcoin/@pawsdog/12-3-2017-the-market-view-and-trading-outlook

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1 vote

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fskgoogle (36) · 7 years ago

Technically, wouldn't everyone that has a million dollars have enough to buy a $10,000 Bitcoin?

I don't see the big deal about having 1.0 BTC, other than a nice round number. I think its more about the price of when you got in that more important.

I never saw a $10,000 BTC happening so quickly with so little adoption, but here it is. $500,000 by 2020 seems a little steep to me, I think McAfee will have to end up eating his own dick. Fuck it, maybe thats what Bitcoin needs to get to $500,000...

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3 votes

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jeanpaulazzurro (38) · 7 years ago

hahaha...so let us all contribute to make that happen...I am sure there will be a live feed available on the net of that event....LMFAO

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usmanspall (30) · 7 years ago

Hello guys check out my latest post in which i discussed how to double your bitcoins in just 20 days with proof. Its absolutely valid, have a look and decide for yourselves.

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1 vote

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magpy (33) · 7 years ago

I'd also like to believe BTC will never stop rising, but the fact that it is mooning now, doesn't mean it'll always be that way.

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1 vote

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teamsteem (74) · 7 years ago (edited)

That's a pretty radical thought!

https://en.wikipedia.org/wiki/Millionaire
https://en.wikipedia.org/wiki/Billionaire#Statistics

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1 vote

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bitcoinflood (77) · 7 years ago

It is very possible but a ton of money has to be dumped into it. For every 1 trillion dollar market cap for bitcoin we would see about 40k-60k per bitcoin with those numbers we would need to have a market cap of 20 trillion which would be about 1/4th of all the money invested into the stock market right now.

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6 votes

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jeanpaulazzurro (38) · 7 years ago

not unrealistic in my opinion....personally I have transferred more than 1/4 th of my stock investments into BITCOIN....and we are just at the beginning of the mass adoption phase right now

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vishera (49) · 7 years ago

I remember reading a post about his predictions for bitcoin in 2020 of being $500,000. At the time it was worth about $200 and I didn't believe him. I didn't buy until early in 2017. Now he's saying it may be worth $1,000,000 by the end of 2020.

I think this time I'm going to believe him. I'm going to get all the bitcoin I can accumulate by 2020 and see what happens.

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10 votes

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wihnongkaltoa (48) · 7 years ago

Nice post 👍 Thanks for sharing and and very useful information and good job ✌@kingscrown

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9 votes

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tuventure (43) · 7 years ago

The richest likely not thinking about it. Cos they have their current system all in place. Their lives are set. Their house, assets, lawyers, tax compliance or loopholes. The most viable is they will buy only into a certified instrument such as those nasty ETF or CFD.

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11 votes

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grintsch (54) · 7 years ago

For me the really interesting part of that is to where the price would go in case the bitcoin market alone would try to absorb some trillions of extra money. After all, it wouldn't simply increase the market cap by those trillions. It would be realized through a much smaller number of bitcoins. Thus, the price of bitcoin wouldn't just go up by 5tn / 21m = an extra 240k $ / BTC. Maybe there's just 4 or 5 million BTC on the market, so it would rather mean an increase by 1m $ / BTC.

Does anyone know a model for that or has the figures on how many BTC are actually available for trading?

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9 votes

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decentropia (61) · 7 years ago (edited)

There is a saturation curve and scalability issue. A company's market cap takes lots of effort to go from $50M to $50B or $100B, that is 1000 or 2000 times. There are lots companies with $50B market cap, there is not single one with $1T not to say, $10T. It is due to scalability issue (what is scalability is another topic of research). If BTC reaches $100K (10 times), its market cap will be $1.7T and $1M is $17T, that is absurd (total GDP of US). **It will probably not happen (BTC $1M a piece, $17T Market Cap), growth is probably in the better altcoins just due to scalability issue.

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1 vote

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stokjockey (70) · 7 years ago

@kingscrown I think there is a very good chance that Bitcoin will be a Million dollars per coin. The one thing I do not know is the Time Frame. Crypto's Many of them will be much higher in price than they are now.

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4 votes

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duane.dos (52) · 7 years ago

I agree, yes many of the alts are just coming to life and I believe that steem is going to have a monster bull run very soon because it actually has a working platform and it is still asleep.

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2 votes

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medicbtom (57) · 7 years ago

Hedge funds will be buying it up. If people can afford Birkshire Hathaway... they can and will afford to buy Bitcoin whatever the price may be.

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5 votes

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frankvvv (65) · 7 years ago

So either we get a 1 M BTC in a few years, or we are going to see John McAfee eat his dick. We can't lose!!!

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4 votes

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jamesbrown (62) · 7 years ago (edited)

Well, I think the lose is bitcoin doesn't hit his predicted price and he dies before 2020...

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1 vote

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xsid (51) · 7 years ago

Fix scaling with bigger blocks? Why not huuuuge blocks?
https://steemit.com/bitcoin/@xsid/bigger-blocks-how-about-huuuuge-blocks

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1 vote

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leprechaun (56) · 7 years ago (edited)

Just because there are less than say 33 million original vintage Grimlock action figures in the world doesn't mean every millionaire would want one. i am just saying, that with bitcoin being too hard to use and expensive to transfer, there will be very bullish times and very bearish times. It seems like a waste to just park your wealth into a monetary instrument. Why not use the money? Create an exchange and when you feel like it pretend you want verification and keep the people's money. Isn't that a better way to work with a couple thousand dollars?

cough cough @bittrex

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1 vote

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chucklinart (30) · 7 years ago

Man, I need to start putting visuals in my posts.

Owning a whole BItcoin will mean a person is quite wealthy in the not-too-distant future.

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1 vote

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magpy (33) · 7 years ago

It already means that if you ask me :D

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nasir769 (51) · 7 years ago

Interesting calculation. :)

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1 vote

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ninja25538 (41) · 7 years ago

He better prepare to eat his ****, I don't think it can reach $1 million by 2020 (I have high hopes for cryptocurrency!!! nice post my dude)

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1 vote

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aravindleo (16) · 7 years ago

http://yamechanic.com/GvKu

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1 vote

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remlor (50) · 7 years ago

150K by summer 2018

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1 vote

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kawsar (71) · 7 years ago

hmm bro really informative post
i follow your post
and check my blog i resteem your post
can you help me
good luck for you

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1 vote

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miti (75) · 7 years ago

Please don't SPAM... take a look in this before hurting your reputation.

https://steemit.com/steemit/@miti/newcomers-minnows-and-spammers-this-post-will-save-your-reputation

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kariuki (38) · 7 years ago

Yeah these is a good post here, follow me to and I will do it right back ,,

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mejustandrew (58) · 7 years ago (edited)

If I don't buy now, I feel like I will never be able to buy... and I am not even milionare :))

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magpy (33) · 7 years ago

Do you think it will never stop rising? :)

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muddaser (38) · 7 years ago

Ahh, Such an Eye opening article. You know what @kingscrown, i am going to buy a bit of bitcoin after reading this. and if i got a gain, i will always remember you. :)

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bitgeek (62) · 7 years ago

Congratulations @kingscrown, this post is the second most rewarded post (based on pending payouts) in the last 12 hours written by a Hero account holder (accounts that hold between 10 and 100 Mega Vests). The total number of posts by Hero account holders during this period was 254 and the total pending payments to posts in this category was $3433.70. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

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sodathief (25) · 7 years ago

How do I buy BIRCOIN?

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igloro (34) · 7 years ago (edited)

use exchanges. i recommend kraken.com

p.s. you mean bitcoin, right? :D

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pearlius (25) · 7 years ago

great post! thank you.

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mejustandrew (58) · 7 years ago

Try not to spam please, it is harmful for your account as it is for the entire community

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bucho (63) · 7 years ago (edited)

he's not a spam account nor is his thanking people spam (though i totally get why you might think it considering the amount of garbage spam we've seen).

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2 votes

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mejustandrew (58) · 7 years ago

Sorry if I was in a rush to comment, I was dumb. Of course, I guess he is just new here and doesn't know that comments with that form are almost always intended to get a few cents producing nothing. My bad,thanks for reminding me to be more tolerant!

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1 vote

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bucho (63) · 7 years ago

brother, i TOTALLY get it. if i didn't know him personally, i would've had the exact same response as you, so no worries!

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voiloo (54) · 7 years ago

but all the millionnaires won’t wish to buy bitcoin.
However its a good way to explain the limit supply of bitcoin.

thank you for your great post

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ritue (48) · 7 years ago

great funny video and great analysis of bitcoin pramid,thanks for sharing

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naeemahmedd (49) · 7 years ago

well job bro👍👍 i like it

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godo (49) · 7 years ago

For me I would just like to know what they are being spent on. The bitcoin purchase data would be like gold.

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igloro (34) · 7 years ago

I would love to be millioner by 2020 ... maybe earlier :D

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magpy (33) · 7 years ago

would be nice ;)

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dogancelimli (39) · 7 years ago

Bir gün ben de hayırlısıyla zengin olucam inşallah 🙏

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dakotadogg (25) · 7 years ago

I'm a millionare in BTC , but live in a state that doesn't allow BTC transactions, so i'm virtually rich, but still poor in real life...

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jeanpaulazzurro (38) · 7 years ago

How did you become a BTC millionaire then??? You must have done transactions to become that....bit confusing to me...

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myeasin (57) · 7 years ago

Sir I also said that we would see about 40k-60k per bitcoin with those numbers we would need to have a market cap of 20 trillion which would be about 1/4th of all the money invested into the stock market right now @kingscrown love your good work or info 👌👌👌

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awesomeblog (16) · 7 years ago

Can any one suggest me when is the right time to invest cause i think the value is going down because US goverment asking for proof. is there any chance it will go up or down

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jeanpaulazzurro (38) · 7 years ago

There is no such thing as the right time...I suggest you try to gather as much information as possible, and then decide for yourself....There are only two rules you should always follow with any kind of investment:

Never invest more than you can afford to loose, if the worst happens
Never ever finance your investment by going into debt etc

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dmwh (54) · 7 years ago

Another question is whether Bitcoin will be $1 million in real terms. Meaning, that it may reach 1M but will it cost $100 to buy a loaf of bread?

Dollar devaluation could drive a big increase in the dollar price of Bitcoin but it's always important to look at price in real terms.

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eliashossain (63) · 7 years ago

I do not understand bitcoin, but as much as I understand it, I think that for a while, people will trade with bitcoin instead of dollars and everything will be covered under bitcoin. Today's rich man, everyone who comes here, using this bitcale, they are changing the trend of their transactions. Surely you also use?

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votetanding (30) · 7 years ago

McAfee better do what he says..

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awanawan (53) · 7 years ago

No every millionaire can buy BTC. It is very profitable but also very risky

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wihnongkaltoa (48) · 7 years ago

Nice post 👍 Thanks for sharing and and very useful information and good job ✌ @kingscrown

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janettetoral (37) · 7 years ago (edited)

I agree with you that it is overwhelming to see how fast Bitcoin is moving at this time. Perhaps we need a new 2nd entry to trade online and not be limited to Bitcoin as basis to buy anything on trading exchanges and lending / trading platforms.

Also, I think you will need ID verification and selfie on Binance if you want to move to level 2.

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evol10 (42) · 7 years ago

Yes, this "bircoin" will hit 1 million by 2020 I'm sure.

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belleamie (52) · 7 years ago

With all the hard forks that have happened plus the upcoming hard forks, I don't see BTC as the scarce resource it is purported to be. Yes, there will only be 21 million, but every time it hard forks it is like printing more money. Not every fork will be successful, but some will and they dilute the power of scarcity.

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livelifefullest (62) · 7 years ago

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mehditanver (26) · 7 years ago

Thanks for nice information sharing

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shakeitup (25) · 7 years ago

if everyone wanted to buy 1 bitcoin, surely there are not enough bitcoins for everyone to own one right? it doesnt matter how much money you have

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johnthe (25) · 7 years ago (edited)

I remember thinking last year, sometime in 2016, when Trump was running for president and he had a wealth of a purported ten billion dollars that Trump himself at that very moment he could have owned every single BitCoin in existence, according to the current value at that time.

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psykogamer (36) · 7 years ago

It isn't a matter whether or not they can afford to invest in Bitcoin. The real issue is whether or not they really want to. It's a newer form of currency and many people would rather invest in something they can eventually touch and hold in their hands. Technically you can if you convert it over but that's another story altogether.