What is a Wholecoiner?
Wholecoiner refers to a person who possesses one whole Bitcoin (BTC). Of course, the value of that single BTC in terms of US dollars changes every second of every day (see the definition of volatility for more on that). At its height (November 1, 2021), 1 BTC was worth US$69,025.05. However, by November 20, 2022 (just over one year later), the value of 1 BTC had dropped to US$15,468.58. By the time Bitcoin is fully mined, reaching a theoretical maximum circulating supply of 21 million BTC, a wholecoiner holding 1 BTC will theoretically own 1/21,000,000 of all Bitcoin. Estimates on when the final Bitcoin will be minted range from 2040 to 2078.
In order to “hold” Bitcoin, a person doesn’t need to hold an entire single BTC (or more). Indicative of just how small Bitcoin transaction amounts or fees can be, here are the various denominations of Bitcoin:
Bitcoin transaction fees, explained in detail in Blockchain Journal’s Guide to Bitcoin Transaction Fees, are paid in satoshis.