In 2017 according to the Forbes 30th Anniversary Guide to the world's richest people, the list of new billionaires on the planet moved up about 13% There are now a recorded 2,043 billionaires on the planet which is up about 233 people from a year ago in 2016. The total collective net wealth of the billionaire club rose by 18% commanding a whopping net value of $7.67 trillion USD which is also a new record.
It said there are many unknown billionaires from around the planet, somewhere in the region of hundreds if not thousands of families who have one way or another, in stealth like fashion somehow managed to kept there wealth off books publicly, flying under the radar out of watch dog eyes.
With respect to trying to guess the exact amount of millionaires in the world today, that number is said to be a bit more difficult to pin down when factoring in multi-millionaires as well as millionaires. This year in 2017, Boston Consulting Group estimated there are 17 million "millionaires" on the planet. Credit Suisse believes the number to be much higher at 35 million people who have the right to call themselves millionaires, with that number expected to double by 2025. Ironically enough 17 million is close to the amount of Bitcoins that are available for public trading currently in circulation. In other words, barring out all the billionaires who may want to buy some Bitcoin, barring out everybody in the middle class or people like the Winklevoss twins who already own roughly 1% of the entire Bitcoin Market, which equates to ~120,000 BTC, purchased for ~$11 million around 2011, in a dimension where every millionaire in the world woke up one morning and just decided to pop out to a local Bitcoin ATM to snap up a single Bitcoin each, the bottom line is very few people in the world may ever get the chance to realistically own a single Bitcoin.
The good news for anyone who does not get to own some illusive, electronic, magic internet money or a full Bitcoin, a single BTC is technically divisible by 100 million units or Satoshi's, the odds of "most people" owning a fraction of a Bitcoin with the amount of demand that has encompassed the Blockchain is more realistic. I have started to recognize the closer Bitcoin get's to being traded publicly on Wall Street, very few people will ever know the joy of securing an entire Bitcoin while 99% of the world will have never owned an entire BTC at all.
Are you the kind of person who has been telling your friends about Bitcoin for years or have you just recently learned about Bitcoin?
What reasons do you have for telling people why they should consider purchasing a Bitcoin for their future?
What year did you first learn about Bitcoin?
Written and art by STEEM user: Jazmin Million
This is a nicely researched article. Thank you.
I have also been posting research on things like this. I reached the same conclusions as you. In other words, even most millionaires, (35 million of them according to CS), will never be able to buy a single bitcoin.
I have done quite a few studies on the distribution of bitcoin across addresses and also distribution of net wealth bands (I used the Credit Suisse Wealth Report).
I also have studies on the bitcoin addresses wealth bands. Although there are some 20 million bitcoin addresses, very few of them own more than $20 of bitcoin. It’s something like 5 million addresses have more than $20 (at $6000 per bitcoin). This means that only around one adult in 900 has any meaningful bitcoin balance of more than $20. There’s a long way to go.
Based on October’s numbers, we can see that the Dolphins and minnows ($20 to $100k of bitcoin) are growing in number by an annualised growth rate of 107%. (See my study below), It’s mathematically impossible to keep growing at that pace over the next year as there are not enough bitcoins. Therefore, either growth rate must fall, or price must be higher to accomodate the growth in numbers - with each new user buying less bitcoin at a higher price.
I have a number of blogs with varying amounts of data on this. The most recent one, (today), is here. https://steemit.com/bitcoin/@swissclive/bitcoin-s-supply-and-demand-over-the-next-12-months-based-on-current-months-figures
The sooner everyone stops talking about the bitcoin price, and starts discussing the Satoshi price, the better. Then everyone can own a Satoshi.
Satoshi price rules everything around me, BTC ;p
That is why I love Crypto. Do not care to be reach just not pore like I am now. Sucks not knowing if your going to have the cash for food that week. Lord willing I will not deal with it much longer.
Bless.
I just realized the true potential in bitcoin this year and when I opened up my coinbase account that I had used for gambling a few years ago I had transactions that were worth more bitcoins than I could afford with all of my money right now.. wish I was mature enough at the time to see the long term "gamble" in bitcoin. Here's to hoping we're all still early enough to collect more bitcoins before Wall Street catches up!
Cheers!
Great story, ty for sharing!
I owned one and a half . I bought them when they were at $1000 and sold at $3000. Sold them to buy alt coins. Now I own a bunch of alt coins that are not worth much at this time but who knows how much they might be worth in the future. But to tell the truth thesteemster regrets having sold his. Thesteemster always has this Bitcoin thing in the back of his mind. The steemster is always asking himself " did I do the right thing"?
Interesting story. Ty for sharing.
Get out of the shit coins when you can. BTC has a long way to run still.
The estimates I have seen say that there are about 20 million people who own some bitcoin (usually just a few dollars worth) and that less than 5% of those participating own over 95% of the Bitcoins which means that there are likely only 1 million people who own more than 1 Bitcoin.
That's one of main reasons why I think there will be many different cryptos competing for the trillion dollar market caps in the future. Many people feel like they already missed out even though Crypto its still in the early adopters stage. The price of BTC will seem to expensive for most. They will buy it but they'll also flock into the top ALTs they feel are cheaper and have better performance/features built in. Its the interface moment that will bring the masses into it and propel it into the mainstream. These apps I am talking about will start hitting the markets next year with full main net releases. Your avg. crypto user today is a totally different type of person than that of the mass crypto user in the future. They don't care about decentralized. They want convenience first. The crypto currencies and dapps that make it look and feel like its all just a seemless data base will boom into massive mainstream adoption while maintaining full decentralization and massive scalability. Its going to be a totally different landscape this time next year. There's going to be massive competition, 1000's of blockchains and millions of tokens coming into the market with all sorts of innovations. The best crypto is still probably not invented yet. The evolution of the blockchain will be incredible indeed.
Nonsense. There is value in exclusivity. If there were 1,000 different types of Gold, it wouldn't trade at $1300 an ounce. 1000's of crypto's mean none have value.
Well its already happening and the value is increasing. Millions of tokens and currencies will likely exist with a lot of specializations and community governance.
I agree!
You may have 1000's of STM's just here on Steem alone. I imagine a world soon to have community currencies. If you wanna be apart of that economic area you'll need their local token.
Ty for the info!
Yeah well, they didn't take the risk so no reward. Wining about profits is silly. People didn't want to risk it so they aren't going to profit from them.
BTC wasn't some rich mans game in the beginning. Virtually everyone had the change to own BTC.
First they say it's a scam. Now they come complaining that they didn't invested earlier.
Very good points!
@jazminmillion I know I will own a Bitcoin but so many people never will. It is interesting to ponder what one Bitcoin will be worth next year or even two years from now......
If you know exactly how much money will be invested into bitcoin (net of sales) by existing and new users, you can work out the future price. The answers is in this equation: money/650’000.
The latter figure (650’000) corresponds to the newly mined supply.
As far as the figure for “money” is concerned, you can take last year’s new money, or October’s new money times 12, or you can you compound compounding based on any previous period, - of one month, three months, one year.
Whatever of the above methodologies you use, you will like the result.
See my blogs for the answers.
Ty for the time to mention that stuff, very helpful swissclive, im going to follow you !
for sure!
Hold onto your BTC and don't blink when its price fluctuates.
Very good advice!
I enjoyed reading your post. There is a lot of good stuff.
Appreciated!
I heard about Bitcoin years ago, probably 2012 or so when I was 14 but did not even consider investing into it until 2016. Now that I look back on it I'm like damn it!!
I totally know what you mean!
Your posts always amaze me.
Ty for the kind words, when writing this stuff I never know if people will actually like it!
What a nice article!
I just started with crypto's and I bought some altcoins wich are cheaper. Part because there is something pshycolical in spending 100$ and getting 0,000000something BTC, instead of 400XRP. ( I know this does not make any sense at all, but i guess this is a common thing among traders), the other main reason is I really don´t like buying anything that is peaking. I feel allot more comfortable buying assets that are oversold or way below their price. (Based on historical data).
I mean I do think BTC will get to unthinkable levels in the near future, and i probably kill myself for not buying BTC @ 5000 USD within the next year or so, but I prefer buying in dips. I´d love to get into Steam for example, or buy more Bitshares.
If BTC would fall for a few weeks, showing resistance levels and strong price action, perhaps i´d enter.
I could be missing the boat yes, but on the other hand I find it hard to believe that BTC rockets all the way up to 100k withouth big reversals (like in 2015).
BTCUSD monthly chart
By the way, jazminmillion, i love the graphics.
Ty for the feed back and kind words ;D
Upvoted. I'm going to resteem this now :)
Very much appreciated!
Informative.....👍
Respect!
👍
such a worthy post. Full of Learning. Thanks @jazminmillion.
Very kind words ;D
Thanks a very interesting post.
Have a good week!
I am surely the one who will probably never be able to own 1 bitcoin!
Good question
I agree ;D
very few Bitcoin, indeed, bu hopefully there are many other cryptos which can be used
Nope. Not a smart thought process. If there are 1000's of valuable alt shit coins then there can be millions and billions and trillions of alt shit coins, and they are all worth nothing
Good call.
EOS and STEEM look prime for sure.
Doubtful that DPOS ever generates a lot of value, in the way POW will allow BTC to become "digital gold".
DPOS system will have their place, but not in generating huge value per coin.
Ya well I like the way they look.
I'd put a million into that call - if the coin looks hot, put a million in
haha the Jamie Dimons comic made me lol
Thanks man!
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STOPI am one of the people that found out too late and now most likely I only will end up with a piece of a BTC and not a whole one. Which is okay.
Also pieces increase and thats what a lot of people seem to forget. No matter how big or small the investment, you can still make cash out of it
(It sucks being on board so late, but hey better this than never reaching the destinationat all
very interesting article.
How to get loads of bitcoin http://bit.ly/2ylZWDe
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