Wholecoiners And The New 1%

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Hey JessBTC Hodlers

Bitcoin was launched right around the time of the 2008 global financial crisis which was blamed on lousy mortgage bonds, but it was so much more than that, money printing "saved" the day but could never save an inherently corrupt system. This is the motivation behind Satoshis vision of Bitcoin and why it is more than just making significant gains.

As the 1% riches continue to grow at the expense of the 99% Bitcoin has slowly begun to create a new 1%. There are 11 million millionaires in the US and 2,153 Billionaires in the world while there are 300K wallets that own at least 1 BTC.

As the network effects of Bitcoin grows due to its mass awareness having a small % moving into adoption, we see more demand for an asset that has very little liquidity. We know there will only ever be 21 million Bitcoin and 17 million are out there for you to get your hands on as the number of users and money keep growing along with the inflation continuing to decline its a recipe for price increases.

Image source - me.me

1% of the planet

As we approach the Bitcoin halving it's going to become harder to become a whole corner and according to some predictions I've read owning 0.28 BTC will ensure that you remain in the 1% of Bitcoin holders in the future. This is based on a prediction that in 2030, average holdings are only 0.01 BTC, assuming 1 billion using the network based on current adoption rates.

Yes, that means you are now what you hate, you are part of the 1%.

The prediction also means that no more than 5-10 million people will ever own a full Bitcoin
Between whales, hodlers, nations and institutions, there won't be many lefts to go around; factor in lost coins and there's even less, so make sure you're a "whole coiner" could make you a 1% of 1% the ultra-elite of BTC.

How is Bitcoin growing?

As humans, we cannot understand exponential growth, we can only understand it once we get there and while for many of us in crypto we can't understand what's taking the rest of the world so long the rest of the world is still coming to terms with the internet and other concepts.

We're currently 1% of the world holding this asset class, but the rate at which we grow as crypto holders is x2 every year, which may sound small but over time it has massive network effects. This is without factoring in any bull markets which tend to spike rates.

If we apply Moore's Law of adoption and run the numbers that would lead us to half the worlds population owning crypto/Bitcoin in 7 years, how crazy would that be? It shows that we don't have a lot of time to build and make the products better and more user-friendly. As more people come in, more capital companies in, meaning projects can develop better infrastructure.

How high could Bitcoin go?

The answer is none of us will ever be able to predict that, we can only compare it to markets we know and imagine. We don't know what this asset class will become or where it is headed, but if we looked at the market cap of gold at $7.8 trillion, that's 46x higher than the current BTC market cap. So a quick replace to match market caps would put BTC at $460 000 per coin.

According to http://money.visualcapitalist.co/, there are $90.4 trillion world dollars in circulation if we had to make that the market cap of Bitcoin our new world reserve currency 1 Bitcoin would be worth $4,304,761.90.

Will Bitcoin be used as a store of value or as a currency or a hybrid of both? We don't know! All we can do is buy a ticket at a price you can afford and take this wild ride with the rest of us.

Sources

Have your say

What do you good people of steem think? Are you already in the BTC 1%? Do you plan to keep buying? Do you have aspirations of being a whole coiner?

Holla at me in the comments! All my commenters I will now refer to as Jessie. Jessie is a good friend of mine, but Jessies got a girl, and I want to make her mine.

So have at it my Jessies! If you don't have something to comment, comment "I am a Jessie."

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6 comments
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I feel better about having a little Bitcoin after reading this.

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Lol I did too after reading up about it and writing this post, It has also encouraged me to keep stacking sats as much as I can.

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Well damn, I'm a quarter coiner haha! I'm hoping to be a full coiner at some point this year and may trade out some of the other coins I bought a while back and just chuck them in to BTC.

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If I chuck all my alts into BTC I'm well over the whole coiner but I'm not about that life, I need more speculation in my portfolio. I'm about a half coiner in BTC terms now just up to it.

Will continue to stack sats and see how far I get. I think as more De-fis come out I'll need the extra sats so I can use that to bag some more interest lol, show me the moola!

Here's to hoping I can live only on crypto in 10 years time

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I'm whole coiner too if I did that, most of my holdings in STEEM but I'm swapping out some of the other trash I had for BTC.

Stacking sats is never a bad idea, especially if you feel it will practically double every year. I did just check my hardware wallet and found nearly 1 million Kick Tokens in there... whatever they are haha!

Yea hoping the best for you too with that 10 year plan!

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I'm glad some of the alts I bought have still been going so there's still a glimmer of hope of a return should Bitcoin drag all their prices up

Lol I have a my ether wallet and a meta mask wallet filled with shitcoins I picked up during the ICO boom I so wish ETH had atomic swaps and I didn't have to pay too much gas and I could convert it lol

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