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That math doesn’t add up. There are only ever going to be 21 million bitcoin, 19 million are in private hands, and the remaining 2 million will be mined over th

That math doesn’t add up. There are only ever going to be 21 million bitcoin, 19 million are in private hands, and the remaining 2 million will be mined over the next 120 years. A billionaire is worth 1,000 million dollars. If there are 2,895 of them, that’s equal to 2,985,000 millionaires. But with only 21 million bitcoin, that’s 137,000 millionaires— per bitcoin. And that number gets much higher if you divide by the available supply not the total supply. There’s never going to be enough bitcoin for the millionaires to own even one, if they all wanted to.

colecut 6y ago
That's an interesting way to math it. Your calculation of the number of millionaires is high because some billionaires own hundreds of millions of dollars. According to google there are approximately 46.8 million millionaires in the world. There will only be 21 million bitcoin. Less than half of current millionaires could possibly own a whole one. Plus, 4 million BTC (nearly 20% of total supply) are already thought to be lost forever. There's definitely not a whole lot of them for something serving as the root of a worldwide movement / new financial system
- qes 6y ago
  > There's definitely not a whole lot of them for something serving as the root of a worldwide movement / new financial system "A mile is so big that the entire planet is only 25,000 of them around. That's definitely not a whole lot of them for something as big as the entire planet."
  - colecut 6y ago
    I don't really understand the point you are trying to make. The point I was trying to make was, if there are 21 million of them, and it really becomes mainstream, having even just one of them will probably be very valuable, more so than now.
DavidSJ 6y ago
2,985,000 millionaires divided by 21 million bitcoins is 0.14 millionaires per bitcoin. The number has to be less than 1 because 2,985,000 < 21 million. (It looks like you neglected the million when dividing. I'm also not sure how you got 137,000 instead of 142,000.)

colecut 6y ago

That's an interesting way to math it. Your calculation of the number of millionaires is high because some billionaires own hundreds of millions of dollars. According to google there are approximately 46.8 million millionaires in the world. There will only be 21 million bitcoin. Less than half of current millionaires could possibly own a whole one. Plus, 4 million BTC (nearly 20% of total supply) are already thought to be lost forever. There's definitely not a whole lot of them for something serving as the root of a worldwide movement / new financial system

qes 6y ago
> There's definitely not a whole lot of them for something serving as the root of a worldwide movement / new financial system "A mile is so big that the entire planet is only 25,000 of them around. That's definitely not a whole lot of them for something as big as the entire planet."
- colecut 6y ago
  I don't really understand the point you are trying to make. The point I was trying to make was, if there are 21 million of them, and it really becomes mainstream, having even just one of them will probably be very valuable, more so than now.

DavidSJ 6y ago

2,985,000 millionaires divided by 21 million bitcoins is 0.14 millionaires per bitcoin. The number has to be less than 1 because 2,985,000 < 21 million. (It looks like you neglected the million when dividing. I'm also not sure how you got 137,000 instead of 142,000.)