We're beyond most people in the world being able to own 0.28 bitcoin. That happened when it hit $1000. People in the US can't afford that - a single bitcoin is a blurry untouchable dream. If you take 21,000,000 and divide that evenly across just the US population (about 327,368,831) each person would get 0.06414782 BTC. It's scarce.
I was up 200%. Then I got drunk and greedy. Chased my losses and failed. It wasn't a huge sum of money but a huge lesson learned. Taking some time away now until the market starts to trend again. Next time I'll be more disciplined.
1.69$ trillion is currently in circulation. 1% of that is 16,9$ billions. Divided by 1% of the world population (80,000,000), that gives us 211.25$. If instead divided by 1% of the US population (3,250,000) it's 5200$.
Congratulations, with that logic, you're part of the world 1% if you've got more than 211$, and you're part of the American 1% if you've got 5200$.
This is extremely bad maths that's being used, since it presumes all money to be divided equally and in a linear fashion.
Alright, I read your other reply, but I still have to say that the maths is kinda wonky. It doesn't take in consideration how it actually looks like with the BC distribution, so it's a purely theoretical value based on two variables (theoretical money supply, and population). The result is at best a curiosity, and at worst misleading, since some people will think that this theoretical mathperiment is applicable to real life.
What we need is the Gini coefficient, instead of assuming it to be a perfect equal 0.
It is a simple mathematical fact that no more than 1% of Earth's (current) population will have more than .28BTC *at the same time*.
There's nothing wonky nor misleading, and it's true for each and every distribution you come up with and doesn't involve a hard fork.
Maybe I explanation wasn't very good, but that formula explains the logic exactly, (21m / population) x 100 is the minimum amount you'd have to own in order to be a 1%ter. In reality though, there are people with 1000's of bitcoins, so that figure is a theoretical minimum, and nothing more.
“If you own 0.28 BTC and HODL, you can be certain no more than 1% of the current world’s population can ever own more BTC than you. A modest investment of $1,830 today can ensure you are a 1%er in a future Bitcoin world,” Lee explained.
That's so sad. I genuinely feel bad for anyone who reads that and buys some magic beans bitcorns.