*ahem*
Before I begin, Disclaimer: I'm not a Financial Advisor; and I try to be unbaised & light-hearted even if I invest in any coins specified -- for details on the subject I have my monthly Blockfolio analysis in my C.A.S.H. updates (first one linked here) and my new Weekly Blockfolio Snapshots (linked here).
This analysis was requested by my first and best Römaut (so named because Jason and the Argo ... eh .. moving on) here's his tweet:
The points I'm going to discuss are:
- What a millionaire usually is
- What a Crypto Whale is
- The top 10 coins & tokens (and how many to HodL for millionairehood)
- How to HodL the C.A.S.H. way
Research for this article was powered by Presearch; it's a search engine that rewards per search like Bing Rewards -- so to shorten this article, I'll underline potentially confusing words I'd usually define -- but now you can Presearch them and Earn free Crypto! Clicking the link gives you a bonus 25 PRE.
... and so the article in reply begins!
What ARE Millionaires?
We've seen them in their Lamborghinis ... and we've heard about the wild parties they spend their money on every night, right? Music videos don't lie right? Whether they do or not. Good ol' Wikipedia's definition is:
A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. ¹
So that means by this definition, someone with 1 million Mexican Pesos is just as much a millionaire as a person with 1 million Euros ... BUT: Purchasing Power; and deflation are things that separate what they can buy, but that's a topic you can Google ... or Presearch ;)
If you have USD$1 million, you're just as much a millionaire as someone with: zero dollars in their bank accout, but a fully owned USD$200,000 McLaren, and an USD$800,000 house ... bankruptcy, depreciation, etc aside.
The "one million units of currency" detail also means: those who bought 1 million XRP around its inception in 2014, at USD$0.003 would have cost USD$3,000 -- those same investors would have reached millionairehood without spending another dime once XRP hit $1 in the winter of 2017 a few years later -- but bagHodLers if they HodLed till today. Uhps. Low blow? Too soon? They'll likely have the last laugh.
For those thinking this is an endorsement for buying Bitcoin or XRP ... I've already written my point of view on the subjects (XRP, linked here and Bitcoin linked here).
The amount of millionaires when ranked in USD, globally were around 14 million back in 2018; but this year ballooned thanks to the constant rise in the US stock, real estate and other markets. ²
What do millionaires have to do with Crypto? Besides the news you hear about them and their hedge funds diving into the market: I wanted to bring them up in the hopes that if you're wondering how the "rich get richer" or are appalled that "so few have so much" ... well: let me introduce the next topic:
What is a Crypto Whale?
Presearching on BitcoinWiki, I found that the definition for a Crypto Whale is:
"An individual or Institution with enough funds to significantly influence the Crypto markets." ²
I also found the picture that I've personally been using when referring to my own Crypto net worth: ²
Typically this is shown in Bitcoin, but for argument's sake, I'll take the term Crypto Whale and apply it to each of the top ten Cryptocurrencies and tokens, as of the end of August 2020; the chart above due to deflation means each Crypto animal becomes richer & more influential overtime, so this list maaayy get outdated quickly.
Calculations were done by Hardcaps, except in cases where coins were publicly burned. I'll only have one version of Bitcoin in the top ten & no Stablecoins.
*ERB Voice*: Let's Begin!
The Top 10
The top Crypto is, to no one's surprise:
Not to be confused (yet) with Bitcoin Cash, which runs on a different protocol, fewer exchanges, aanndd is cheaper ⁴
Anyone with 90.1 Bitcoins (9.01 billion Sats) today is a millionaire -- but just 5 years ago they'd have needed about 3,850 Bitcoins (385 billion Sats). Anyone with USD$1 million can register to be an Accredited Investor ... something many of us wouldn't have a hope to do without Crypto.
Simply put, being a Crypto Dolphin or Crypto Shark today, means you could potentially be as influential in these Crypto markets as a Whale a few years later; meaning being a Crypto Shark is like being a Shark from the Shark Tank TV series.
PSA: I rounded several of these charts up so, some of these might be a tad inaccurate 😬
Ethereum currently has no cap on its supply; but with the introduction of Ethereum 2.0 ... that might change -- a heavily discussed topic on Publish0x; for now ETH's Total Supply is: ~112 million
USD Millionaire today: 2,500ETH
ETH Humpback 🐋: 27,000ETH or more
ETH Whale 🐳: 5,400 - 27,000ETH
ETH Shark 🦈: 2,700 - 5,400ETH
ETH Dolphin 🐬: 540 - 2,700ETH
ETH Fish 🐟: 270 - 540ETH
ETH Octopus 🐙: 54 - 270ETH
ETH Crab 🦀: 5 - 54ETH
ETH Shrimp 🦐: < 5ETH
XRP has a hardcap, a coin burn, and a little over half supply in escrow, but I calculated this against the 100 billion max supply.
USD Millionaire today: 3,704,000XRP
XRP Humpback 🐋: 25,000,000XRP or more
XRP Whale 🐳: 5,000,000 - 25,000,000XRP
XRP Shark 🦈: 2,500,000 - 5,000,000XRP
XRP Dolphin 🐬: 500,000 - 2,500,000XRP
XRP Fish 🐟: 250,000 - 500,000XRP
XRP Octopus 🐙: 50,000 - 250,000XRP
XRP Crab 🦀: 5,000 - 50,000XRP
XRP Shrimp 🦐: < 5,000XRP
Chainlink has had a VERY good year so far; it has a Total Supply of: ~ 1 Billion
USD Millionaire today: 64,100LINK
LINK Humpback 🐋: 250,000LINK or more
LINK Whale 🐳: 50,000 - 250,000LINK
LINK Shark 🦈: 24,000 - 50,000LINK
LINK Dolphin 🐬: 5,000 - 25,000LINK
LINK Fish 🐟: 2,500 - 5,000LINK
LINK Octopus 🐙: 500 - 5,000LINK
LINK Crab 🦀: 50 - 500LINK
LINK Shrimp 🦐: < 50LINK
USD Millionaire today: 17,316LTC
LTC Humpback 🐋: 20,000LTC or more
LTC Whale 🐳: 4,000 - 20,000LTC
LTC Shark 🦈: 2,000 - 4,000LTC
LTC Dolphin 🐬: 400 - 2,000LTC
LTC Fish 🐟: 200 - 400LTC
LTC Octopus 🐙: 40 - 200LTC
LTC Crab 🦀: 4 - 40LTC
LTC Shrimp 🦐: < 4LTC
Believe it or not, at the beginning of this year, CRO was bouncing between $0.03 - $0.06.
USD Millionaire today: 5,900,000CRO
CRO Humpback 🐋: 25,000,000CRO or more
CRO Whale 🐳: 5,000,000 - 25,000,000CRO
CRO Shark 🦈: 2,500,000 - 5,000,000CRO
CRO Dolphin 🐬: 500,000 - 2,500,000CRO
CRO Fish 🐟: 250,000 - 500,000CRO
CRO Octopus 🐙: 50,000 - 250,000CRO
CRO Crab 🦀: 5,000 - 50,000CRO
CRO Shrimp 🦐: < 5,000CRO
USD Millionaire today: 43,000BNB
BNB Humpback 🐋: 35,000BNB or more
BNB Whale 🐳: 7,000 - 35,000BNB
BNB Shark 🦈: 3,500 - 7,000BNB
BNB Dolphin 🐬: 700 - 3,500BNB
BNB Fish 🐟: 350 - 700BNB
BNB Octopus 🐙: 70 - 350BNB
BNB Crab 🦀: 7 - 70BNB
BNB Shrimp 🦐: < 7BNB
USD Millionaire today: 321,550EOS
EOS Humpback 🐋: 250,000EOS or more
EOS Whale 🐳: 50,000 - 250,000EOS
EOS Shark 🦈: 25,000 - 50,000EOS
EOS Dolphin 🐬: 5,000 - 25,000EOS
EOS Fish 🐟: 2,500 - 5,000EOS
ETH Octopus 🐙: 500 - 2,500EOS
EOS Crab 🦀: 50 - 500EOS
EOS Shrimp 🦐: < 50EOS
USD Millionaire today: 9,100,910ADA
ADA Humpback 🐋: 11,000,000ADA or more
ADA Whale 🐳: 2,200,000 - 11,000,000ADA
ADA Shark 🦈: 1,100,000 - 2,200,000ADA
ADA Dolphin 🐬: 220,000 - 1,100,000ADA
ADA Fish 🐟: 110,000 - 220,000ADA
ADA Octopus 🐙: 22,000 - 110,000ADA
ADA Crab 🦀: 2,200 - 22,000ADA
ADA Shrimp 🦐: < 2,200ADA
USD Millionaire today: 305,000XTZ
XTZ Humpback 🐋: 180,000XTZ or more
XTZ Whale 🐳: 36,000 - 180,000XTZ
XTZ Shark 🦈: 18,000 - 36,000XTZ
XTZ Dolphin 🐬: 3,600 - 18,000XTZ
XTZ Fish 🐟: 1,800 - 3,600XTZ
XTZ Octopus 🐙: 360 - 1,800XTZ
XTZ Crab 🦀: 36 - 360XTZ
XTZ Shrimp 🦐: < 36XTZ
How many of each of these do YOU own? Of you're new to Crypto, how many of these did you know existed before today? 😄
All of this has perhaps been slightly entertaining, and hopefully a tad educational -- but what happens AFTER one achieves Millionairehood is my final question 🤔 because we can probably never fully know how much is enough ... after all, I personally want to be a Quadrillionaire.
My solution to such inequality:
Perpetual Giveaway!
I will sooner or later rename this "Hömage" or something, but the idea of Crypto ranks or being Crypto Activist StakeHoder is to change the Cryptospace for the better, because you have the power. 1 million Doge may be a TikTok joke today, but could possibly mean millionairehood a few years from now.
I personally try this: giving a portion of my net income to those who inspire & support me; something we could all easily do. I start by tipping a significant amount, then about 1% net income every month and increase this as I grow; if we all HodLed like this ... Crypto Whales of the future are going to be waayy more loved than legacy Millionaires of the present.
My monthly BAT tips may be lame right now, but thanks to deflation, $0.40 could easily be $10 or $100 a few years from now ... and I since I calculate my net income in the given asset, not USD, I should be able to sustain this for followers on Publish0x AND Twitter eventually.
... but i think the question on everyone's mind is: How do I get some of dat free Crypto doh? Liking 👍, Commenting ✍ and Following 📝 on Publish0x helps; but trying out the Brave Browser (which pays you to watch Ads, and blocks them if you don't) and the Presearch Engine (In Beta, but it's still free 💰) are ways to help yourself while helping me -- and in turn you help others in the future!
