Everything you need to know about the Bitcoin Vladimir club
You must have come across several types of clubs such as educational, health, social, writing, and so on. Just like these clubs, Vladimir Club is based on coin supply in the Bitcoin ecosystem. It’s becoming quite popular in the cryptocurrency industry which we’ll be discussing with you today. The Vladimir Club term is frequently used to refer to cryptocurrencies other than Bitcoin. Let’s find out what the Vladimir Club is, what it means, and all the other specific information.
What is the Vladimir Club?
The phrase “Vladimir Club” was first used about Bitcoin in the BitcoinTalk forum in 2012. The Vladimir Club was named after the user, Vladimir suggested that possessing 1% of 1% of the total supply of Bitcoin is a good strategy. The only people who could join this exclusive club were those who owned 1% of the total supply, or 0.1% of the Bitcoin.
As the total quantity of Bitcoin is permanently set at 21,000,000 coins, to meet the Vladimir club’s requirements and join it, one needs 2100 BTCs (21,000,000 * 0.01*0.01 = 2100 BTC). The Vladimir Club, on the other hand, is the possession of 1% of 1% of the prospective supply of an asset. Later, OnChainFx, a dashboard for crypto metrics & rankings, further structured and standardized this concept.
How can you join the Bitcoin Vladimir Club?
The Vladimir club’s requirements are relatively easy to understand, and you can join by procuring 2100 BTCs, however, it is more difficult to gain than it seems. In other words, to join the Vladimir Club in 2022, a person would have to invest almost $60,900,00. By creating Vladimir clubs for other cryptocurrencies, the crypto community expanded the club’s scope to include additional coins. Popular Vladimir Clubs for well-known cryptocurrencies and their accompanying Vladimir Club costs are:
- Ethereum Vladimir Club: $1,728,818.49
- Ripple Vladimir Club: $3,088,341.45
- Litecoin Vladimir Club: $371,870.98
- Bitcoin Cash Vladimir Club: $395,979.47
What is the estimation of the maximum number of club members?
According to the original estimation, the Vladimir club could hold up to 10,000 members if all of the coins were mined and distributed equally among them. This changed as a result of BTC owners having more than 2,100 BTC coins and the maximum number of actual members being lower than that. Furthermore, a significant portion of coins is unreachable due to either lost private keys or invalid addresses that make it impossible to retrieve them.
Is there a significant number of Bitcoin Vladimir Club HODLers?
Although it is difficult to figure out the exact number of members of the Bitcoin Vladimir Club, the approximations can be found.
Because of this, 1720 Bitcoin addresses on the Bitcoin wealthy list have balances of 1000–10,000 BTC. More specifically, “712 addresses have 2000 or more bitcoins today, and 549 of these have 2100 or more,” according to a user of the BitcoinTalk site.
Because of this, we can probably guess that at least 500–600 addresses have 2100 BTC, which means 500–600 users are members of this club. However, if you take a different perspective, this approximation breaks down because many individuals can be using many addresses, and many of these 500 to 600 addresses may be controlled by a single person.