What is Vladimir Club?
Let's find out Vladimir Club meaning, definition in crypto, what is Vladimir Club, and all other detailed facts.
The phrase "Vladimir Club" was first used in reference to Bitcoin on the BitcoinTalk forum in 2012. The term Vladimir Club was coined shortly after a user named Vladimir argued that owning 0,01% of the total supply of Bitcoin was a good idea. Bitcoin's maximum supply is 21,000,000 coins. This means that anyone, who has more than 2,100 BTC, is perceived as a member of the Vladimir Club.
It was far less expensive to join the club back then than it is now. In 2012, one Bitcoin was worth around $11. This means that to join the Vladimir Club you would need to make a $23,100 investment. However, in 2022, one would need to invest roughly $60,900,00 to be deemed a member of the Vladimir Club. This is the case because the price of a Bitcoin was around $29,000.
The maximum number of club members was originally anticipated to be 10,000. This was estimated with the condition that all members have to mint and divide the coins equally. However, the maximum number of members is much lower. This is the case because some Bitcoin holders have far bigger holdings than 2,100 BTC.
Besides, a huge amount of coins is unreachable. There are two reasons for that:
- The private keys have been permanently lost
- The private keys were transmitted to invalid addresses and cannot be recovered
In addition, estimating the number of members in the Vladimir Club is quite challenging. This is the case because many Bitcoin holders split their wealth into numerous addresses. Besides, some of the richest addresses might be owned by the same person. Despite this, it is projected that the Vladimir Club should have between 500 and 600 members.
The concept of the Vladimir Club is now commonly used to refer to cryptocurrencies other than Bitcoin. For example, if you own more than 0,01% of the BNB's maximum supply, you will be deemed as a member of the BNB Vladimir Club.
The maximum supply of BNB is 200,000,000 coins. This implies that being a member of the club would require roughly 20,000 BNB. The maximum number of BNB Vladimir Club members would be 10,000. However, only if all BNB coins were distributed evenly.
Unfortunately, the overall quantity of BNB is gradually diminishing. This is happening due to many coin burn occurrences. Thus, BNB's total supply will eventually be decreased to 100,000,000 coins. This means that the maximum number of members of the BNB Vladimir Club will be drastically reduced as well.