Thread

What’s your evidence? We have two separate measures, one higher than River’s and one lower. But this is in line with a lot of surveys actually. You “just know”? Fits also with etf, exchange numbers, hardware wallet sales and wallet downloads… (trust wallet alone has 200 million downloads) but you just know.

If having $10 on a custodial platform qualifies then yeah that’s probably correct

Go to your local grocery store, work(non Bitcoin company), mechanic, HVAC company, bank. Ask them if the have heard of Bitcoin. Roughly 90% will have heard about it. Maybe 20% will have an idea of what it actually is. 10% may own it. Addresses are not people. I have hundreds of addresses, most not linked and KYC free. So how many people am I? There are about 260 million adults in the US. There is exactly zero chance 25% of US adults own Bitcoin. Not even 25% own 'crypto', nevermind Bitcoin. Even counting a husband and wife as community property you don't get there. It's a fucking pipe dream to think 25% of Americans own Bitcoin. Absurd.

I'm sure millions of American's have a few hundred tjousand sats, but less than 22,000 people understand bitcoin better than gold. I run two nodes, and I'm sure I'm not the only person running more than one. Conclusion: Very few people understand #bitcoin better than gold.

I think you're right. Maybe they counted every exposure to btc as 'owning', like your ETF has 0,5%BTC they count you as an owner or something like that.

Agreed. In terms of unspent bitcoins, there are only roughly 150 million entries in the unspent transaction output set. And wallets that get used typically have several unspent transaction outputs.

Super easy: the bitcoin UTXO set. Unspent Transaction Output set is roughly 150 million entries. Wallets tend to have many unspent transaction outputs, so there’s at most 15 million bitcoin holders assuming a modest 10 UTXO’s per person.

Source:

Clark Moody Bitcoin

Dashboard

The entire Bitcoin economy at a glance

My node isn’t reachable. Intentionally. I don’t want my ISP knowing I use bitcoin.

Maybe. Owning .00000005btc from a xrp swap gone bad isn't owning Bitcoin. Dead people don't own Bitcoin. Lost keys folks don't own that Bitcoin.

I am 100% with you. Just trying to imagine how they came up with that numbers

Tough to say. Honestly, I'd like to see a Gallup poll that tracks it over the next decade. No poll, study or math can be fully accurate. I absolutely wish it was 50M, 75M, 100M, but it's not close.

CAN CONFIRM YOU'RE NOT ALONE IN RUNNING MULTIPLE NODES

How many people in the world do you estimate run a bitcoin node?

IIRC, @npub1lh27...a9nk did something fancy to measure this somehow. Or maybe it was Chow with bitnodes (

Global Bitcoin Nodes - Bitnodes

Combined estimation of reachable and unreachable Bitcoin nodes in the Bitcoin peer-to-peer network.

) Anyhow, I think the difference is like a low integer multiple of reachable nodes. So maybe 45-90k.

Oh, and if you want a maximally private node, you can’t use the internet. I feed my node via broadcast satellite…Blockstream broadcasts all new transactions, new blocks and all old blocks on a loop. All you need to do is setup a receiver and you can feed your node everything it needs (modulo trusting that Blockstream doesn’t spend hundreds of thousands of dollars to create fake but valid proof of work block headers!)

That's pretty cool.

A lot of satellite hardware is sitting around as junk. My house came with an old dish and all I had to do was replace a $10 LNB (the part in the middle of the dish), buy a (then) $20 usb radio adapter, and install Blockstream software (and turn the dish to the right satellite).

Yes. Wow, it’s been a long time since I’ve seen this…

THIS IS AWESOME!

Node running != ownership, not even ownership of large amounts.

It’s getting off zero, yes

Right so that chart is definitely irrelevant to the original claim. The large majority of pocket change bitcoin owner have not a single clue what it is.

I agree. Everyone who wants the US to swap any US gold runs a node(those are the only people who understand it well enough to even consider it. That's like a hundred thousand people in the entire world. That is way less than 80% of Americans. I thought you meant the US Gold Reserve(like fort Knox gold) when you said "their gold." This chart says ETF gold in the small print. Only 37% of Americans own Gold ETF's, but how many Americans own any gold at all? I mean, I consider myself all-in on bitcoin, but I still have an 18kt. gold necklace my grandmother gave mw when I was 7. Even I'm not selling that for a few more sats.

ergo, guns are the reserve asset

sats per round is the only price that matters

Thank you, gUndalf, the world needs to hear this insight. Our fundamental human right to keep and bear arms is the foundation upon which all other rights are secured.

guns are the ultimate backstop reserve asset perhaps only surpassed by ammo

I once got into a debate with a goldbug. He said gold.is better than bitcoin because bitcoin won't survive a world without electricity. I told him, in that world, bullets are better than gold. He agreed. 🤣

an estimated 110 million own an estimated 400 million guns.

only 4 each? lmfao

that is approaching half of the guns in the world. 🙂

a culture of barbarism

the police has custody of my guns

My state averages over 10 guns per household. :)

Weapon is a jewel of a man.

Computer malfunctioned, it can't calculate a number that small

-420

We have self custody numbers for bitcoin not gold: coming soon