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Tuur Demeester Profile picture
@TuurDemeester
Jun 19, 2018 • 4 tweets • 2 min read • Read on X
If the Bitcoin price rises to over $1M, that would give ~100k bitcoiners "Ultra High Net Worth Individual" status (+$50M). With worldwide UHNWIs projected at only ~200k by 2022, this means the Bitcoin 1% could by then make up 30-50% of the world's financial elites. #Disruption
Sources. blocklink.info/distributions.… , and Credit Suisse's 2017 Wealth Outlook: publications.credit-suisse.com/tasks/render/f…
Using the same data and assumptions ($1M BTC), the number of Bitcoin billionaires could grow to over 1,000. For reference, Forbes currently counts 1,500 billionaires in the world. businessinsider.com/how-many-billi…
Correction: replace "by then" with "eventually". I didn't mean to imply that the Bitcoin price will be $1M by 2022.

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More from @TuurDemeester

Tuur Demeester Profile picture
Aug 29, 2018
US Startup Activity 2017: Miami, Austin, and LA stand out. kauffman.org/kauffman-index…
Interestingly, San Francisco dropped 10 spots on the ranking compared to last year. The factors behind decreased appeal for entrepreneurs are known (high cost of living, bureaucracy), but why the sudden decline?
Here's a state by state comparison.
Read 4 tweets
Tuur Demeester Profile picture
Aug 10, 2018
"The introduction of e-money could potentially have an effect on the demand of monetary aggregates" —BIS, 1996

“Virtual currencies could have a substitution effect on central bank money” —ECB, 2012

"Crypto assets may one day reduce demand for central bank money." —IMF, 2018
Sources: bis.org/publ/bisp01.pdf, ecb.europa.eu/pub/pdf/other/…, imf.org/external/pubs/… (HT @danheld)
That latest IMF article considers a radical scenario:
Read 4 tweets
Tuur Demeester Profile picture
Jul 17, 2018
A few notes from the Financial Stability Board's "Crypto Assets Report to the G20". PDF: fsb.org/wp-content/upl… Press release: fsb.org/2018/07/fsb-re…
In the section on Bitcoin exchanges: "Where crypto-assets are used solely for payment purposes (and are not securities), crypto-asset platforms trading such assets could be viewed more as part of the payments infrastructure or as some type of spot market exchanges."
"One challenge encountered ... is the scarcity of reliable data on banks’ holdings of crypto-assets. Accordingly, the BCBS is currently conducting an initial stocktake on the materiality of banks’ direct and indirect exposures to crypto-assets."
Read 5 tweets
Tuur Demeester Profile picture
Jul 11, 2018
When MtGox had alleged fiat withdrawal issues, its btc/usd pair also traded at a premium - as btc was only way out. Imo these kind of pricing anomalies can indicate solvency problems. (WEX = rebranded BTC-E)
Another way to look at this: 'WEXDollars' are trading at a discount because they are less liquid than regular dollars.
$USD trading at half price on WEX (HT Giel)
Read 5 tweets
Tuur Demeester Profile picture
Jun 23, 2018
Diversify broadly, they said...
Bitcoin dominance back at the levels of one year ago, while small cap altcoin index loses ground.
% down from ATH
Read 4 tweets
Tuur Demeester Profile picture
Jun 21, 2018
1/ In this thread I make a philosophical argument for Bitcoin being a socially scalable contribution to conflict prevention in society, contrasting it with the current system of monetary interventionism.
2/ All interpersonal conflict has 4 necessary and jointly sufficient causes:

Plurality - multiple actors

Free access - what actors want is accessible to them

Scarcity - desired good is in finite supply

Diversity - actors have different values, opinions, preferences
3/ If one manages to completely remove just one of the four necessary causes, it effectively resolves and prevents interpersonal conflict.
Read 36 tweets

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