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0.15% of Earth - we are so EARLY! (Patreon)

Published:
2023-07-18 00:26:22
Imported:
2023-07

Content

Bitcoin Addresses Holding 0.01+ Coins Reaches New All-Time High

The number of Bitcoin addresses holding at least 0.01 BTC has reached a new all-time high of 12,122,769. This represents a 0.2% increase from the previous all-time high of 12,122,219, which was set on June 29, 2023.

We are so early - as an illustration assuming each one is a unique human that means 0.15% of Earthlings own Bitcoin.  In reality, given each person has on avg 3 wallets it is more like 0.05%. 

However, the increase in the number of addresses holding Bitcoin suggests that more people are becoming interested in the cryptocurrency. This could be due to a number of factors, including the recent price rally, the increasing adoption of Bitcoin by businesses and institutions, and the growing awareness of the benefits of Bitcoin as a store of value.

The all-time high number of addresses holding Bitcoin is a bullish signal for the cryptocurrency. It suggests that there is a growing demand for Bitcoin, which could lead to further price appreciation in the future.

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Comments

Anonymous

Stacking Sats and chill 😎📈

Anonymous

Long term outlook is the key. :)

Anonymous

So happy I became a wholecoiner about 3 months ago!

Anonymous

James, why on earth do miners agree to OTC deals? With current lack of supply in exchanges, wouldn’t it be strongly in their interests not engage in OTC deals? I suppose OTC buyers pay a premium to the miners above the spot price and if one miner does not accept another will? Is that how it works?

Anonymous

James Sir, we need Crypto A B C D ... fun fact ... people stays in A for Alt coin and ends at B for Bitcoin.

Anonymous

I'm happy for all of us here. It's been hard trying to discuss this with dear friends or family...too many have been told to stay away or are scared. One young lady, who is a private financial planner for others told me, and I quote " I need to wait till there more information, or more history on this" to which I said, by then, it may be too late or you'll be buying through ETFs or in 'products' by the BIG boys at premiums. Too bad

Anonymous
>>113149708

I was thinking about this too. Plenty of the miners carry a bunch of debt. Perhaps their large scale creditors provide some type of benefit that a retail market can't? 🤔 Tin foil hat time?

Anonymous

you could buy BTC at 100k and still be early

Anonymous

Hands 🙌

Anonymous

Should I get some in case it catches on?

Anonymous

"The number of Bitcoin addresses holding at least 0.01 BTC has reached a new all-time high of 12,122,769. This represents a 0.2% increase from the previous all-time high of 12,122,219, which was set on June 29, 2023. We are so early - as an illustration assuming each one is a unique human that means 0.15% of Earthlings own Bitcoin. In reality, given each person has on avg 3 wallets it is more like 0.05%." __________________ Since there is data at regular intervals on how many wallets have at least 0.01 BTC, shouldn't it be possible to calculate the progression from the beginning, and calculate how many new wallets containing 0.01 BTC at regular intervals going forward, assuming a steady rate of adoption?

Anonymous
>>113156110

Also, if those numbers are correct, isn't the adoption rate way too low? It has been 18 days since June 29. 12,122,769 - 12,122,219 = 550 new wallets with 0.01 BTC in the last 18 days = 30.55 per day. Divided by 3, since the average person has 3 wallets, so around 10 new adopters per day, in a world of 8 billion people. That can't be right... it has to be way higher than that, doesn't it?

Anonymous

I want to invest in a whole bitcoin. Should I wait is the question. I know in the long long run it's cheap at present but I'd like to see the RSI oversold before sniping. My gut (and utubers) tells me a correction is in the cards for the S&P. I don't think BTC is completely uncorrelated yet.

Anonymous

So we can have some context, what percentage of the earth is holding a top currencies on the planet?

Anonymous
>>113161191

Nobody can tell you what will happen. No offense to anyone but I've been putting in the hours, every talking head is shilling their own bags. Even Larry Fink, he's actually the most obvious, but we only listen to what we want to hear.

Anonymous
>>113161191

I really have to give respect to this platform though. I just signed up but I've been watching James since '21. The quality and effort is massive.

Anonymous

I really hope we're right. Feeling pretty depressed tonight. Will try to dream of BTC at $250k or something

Anonymous
>>113149995

Yeah - orange pilling is a hard job!! I'm happy to be part of this community too - gets me away from my day to day grind 👍

Anonymous
>>113161191

Why not DCA? It's the best way & you will feel better as you are on the path to your whole coin. During the horrible year of 2022, if you had DCAd in, you would still be up! NFA obvs

Anonymous

Early? Crikey, if we are early then what does make the likes of Roger Ver, Richard Heart, Davinci, Andreas? Despite what most people think, we are not early into BTC no matter what the numbers say, we are late, it's a tough pill to swallow but we are. I would however, say we are still early into Crypto but this could change once Blackrock get their grip into it.

Anonymous
>>113161191

I'm not a fan of DCA especially crypto it swings to wild. I try to buy dips.

Anonymous

This helps address a question i posed in the Q/A regarding Metcalfe's Law, wallet addresses and bitcoin adoption, and is a really helpful start, although I'm not sure how coins held on exchanges, through proxies, and in Cash App, PayPal etc. would be reflected in this. If we're truly this early, we're still *way* out on the left hand side of Rogers' adoption model, not even close to touching Early Adopters (at 2.5%) and a very long way from crossing the chasm into the mainstream between EA's and the Early Majority. In short, we're still the wackos that no one other than (some) of the EA's will take seriously or refer to as models for adoption. https://bitcoinmagazine.com/culture/why-innovations-like-bitcoin-dont-see-rapid-adoption

Anonymous

When I talk to muggles in a conversation about Bitcoin they think they have already missed the boat because of the price. Talk about Sats its game over.