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Crypto Terms:  Letter V

What is Vladimir Club?

Meaning:
Vladimir Club - a person who has acquired 0.01% of the maximum supply of a cryptocurrency is referred to as a member of this club.
medium
2 minutes

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.

coin or <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-token/">token is considered to be volatile if its price movement often changes in volume, frequency, and direction. The most popular cryptocurrencies today such as <strong><a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin and <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum are considered to be very high in volatility<\/strong>.<\/p>\n<p>In most cases, <strong>CBOE Volatility Index (VIX)<\/strong> is used to measure the asset&rsquo;s level of volatility. However, some cryptocurrencies have their own measures for these fluctuations in price. For example, <strong>the<\/strong> <strong>Bitcoin Volatility Index (BitVol) or the Ethereum Volatility Index (EthVol)<\/strong>.<\/p>\n<h2>Why are Cryptocurrencies So Volatile?<\/h2>\n<p>There are a few elements that come into play that impact the volatility of the cryptocurrency market:<\/p>\n<ul>\n<li><strong>Geopolitical situations.<\/strong> When geopolitical issues appear, they usually have a strong global impact. As a result, geopolitical news can affect the crypto trading volumes;<\/li>\n<li><strong>Regulatory news.<\/strong> Reports and announcements regarding regulations have the ability to directly influence the volatility of any cryptocurrency or the entire crypto market overall. An agency that can provide regulatory news is the U.S. <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-securities-and-exchange-commission-sec/">Securities and Exchange Commission (SEC)<\/strong><\/a>.<\/li>\n<\/ul>\n<p>Additionally, <strong>COVID-19 had a great impact on cryptocurrency markets<\/strong>. Buying and selling cryptocurrencies, especially Bitcoin, grew in 2020. So did the price of these cryptocurrencies. One of the reasons why the pandemic had such a strong effect on the crypto sector is because it appeared a lot more secure than cash.<\/p>\n<p>Another factor driving people to specifically BTC instead of other cryptocurrencies is its <strong><a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-hard-cap/">hard cap<\/a> of 21 million BTC<\/strong>. Moreover, Bitcoin and other cryptocurrencies could possibly be a safe haven against rising <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-inflation/">inflation./n

&nbsp;","definition":"a measurement that describes significant price movements.","status":"published","meta_title":"What is Volatility? Definition & Meaning | Crypto Wiki","meta_description":"Volatility meaning: Volatility - describes a type of currency that frequently experiences significant price movements.","meta_keywords":null}" :prev-section="{"id":823,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Vitalik_Buterin","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:00.000000Z","updated_at":"2023-11-17T13:16:53.000000Z","slug":"who-is-vitalik-buterin","title":"Who is Vitalik Buterin?","section":"V","keyword":"Vitalik Buterin","content":"<p><strong>Vitalik Buterin<\/strong> is a Russian-born Canadian programmer and writer best known as one of <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-ethereum-eth/">Ethereum's co-founders. In addition to co-founding the second-largest <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-cryptocurrency/">cryptocurrency by market size, Vitalik Buterin is the co-founder of Bitcoin Magazine.<\/p>\n<p>He is currently <strong>the leader of Ethereum's research team<\/strong> and a philanthropist, contributing millions of ether to numerous organizations, organizations, and foundations. In addition, in 2020, he invested $1.4 in ether to start producing the new Ethereum 2.0 network.<\/p>\n<p>Going back in time, Buterin was born in 1994, in Russia, however, after some time he emigrated to Canada. His own father was a computer scientist, so he learned about <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin when he was 17 years old.<\/p>\n<p>Vitalik began his career as <strong>a writer for Bitcoin Weekly in 2011<\/strong> and received five Bitcoin for one piece. However, the website was taken down. When that happened, Mihai Alise contacted Buterin with the intention of starting a new paper, which eventually resulted in the creation of the Bitcoin Magazine.<\/p>\n<p>Buterin was still a student at the University of Waterloo, where he was also employed as <strong>an assistant to cryptographer Ian Goldberg<\/strong> at the time. Furthermore, as his engagement in the crypto world grew online and at conventions, Buterin was encouraged to meet others who wish to establish a Bitcoin alternative that extends its possibilities with a more comprehensive scripting language.<\/p>\n<p>Following that, in his <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-whitepaper/">whitepaper that was released at the end of 2013, Buterin presented this option as a decentralized mining network and software development platform that permits the emergence of new coins and apps creating a common blockchain dubbed Ethereum.<\/p>\n<p>The next year, <strong>he was given a $1000,00 award from the Thiel Fellowship<\/strong> for innovators under 20 to continue engaging with their inventions. Thus, Buterin left university and <span style=\"font-family: -apple-system, BlinkMacSystemFont, 'Segoe UI', Roboto, Oxygen, Ubuntu, Cantarell, 'Open Sans', 'Helvetica Neue', sans-serif;\">shifted his focus entirely to Ethereum. He made it his full-time job along with a team of Anthony Di Iorio, Joe Lubin, Gavin Wood, and Charles Hoskinson.<\/span><\/p>\n<p>The team revealed the project in 2014 and the version that was publicly accessible came out in 2015. So, Vitalik Buterin and his team created Ethereum to be the world&rsquo;s second-largest cryptocurrency by market capitalization.<\/p>\n<p>The primary goal of Ethereum was to <strong>broaden the use cases of blockchain technology<\/strong> past transactions and asset storage. Thus, Ethereum's development has been committed to improving <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-smart-contract/">smart contracts<\/strong><\/a> and introducing new <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-are-decentralized-applications-dapps/">DApps that provide new financial goods and services.<\/p>\n<p>Moreover, in addition to all his inventions, Buterin has also taken part in the creation of a whole new tech industry, as well as giving $763,970 worth of ETH to the Machine Intelligence Research Institute and $2.4 million to the SENS Research Foundation. Additionally, Buterin took part as a developer for other open-source projects such as DarkWallet, Bitcoin Python libraries, and the cryptocurrency marketplace Agora.<\/p>","definition":"one of Ethereum\u2019s co-founders.","status":"published","meta_title":"Who is Vitalik Buterin? Definition & Meaning | Crypto Wiki","meta_description":"Vitalik Buterin meaning: Vitalik Buterin - is one of Ethereum\u2019s co-founders.","meta_keywords":null}" :model="{"id":1017,"wikipedia_url":"https:\/\/en.wikipedia.org\/wiki\/Slang","level":"medium","author_id":1,"created_at":"2023-06-19T06:59:01.000000Z","updated_at":"2023-11-23T11:38:04.000000Z","slug":"what-is-vladimir-club","title":"What is Vladimir Club?","section":"V","keyword":"Vladimir Club","content":"<p>The phrase \"Vladimir Club\" was first used <strong>in reference to <a href=https://www.bitdegree.org/"https:////www.bitdegree.org//crypto//buy-bitcoin-btc/">Bitcoin on the BitcoinTalk forum in 2012.<\/strong> The term Vladimir Club was coined shortly after <strong>a user named Vladimir<\/strong> argued that owning 0,01% of the <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-total-supply/">total supply<\/strong><\/a> of Bitcoin was a good idea. Bitcoin's <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-max-supply/">maximum supply<\/strong><\/a> 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.<\/p>\n<p>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.&nbsp;<\/p>\n<p>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.<\/p>\n<p>Besides, <strong>a huge amount of coins is unreachable.<\/strong> There are two reasons for that:<\/p>\n<ul>\n<li>The <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-private-key-secret-key/">private keys<\/strong><\/a> have been permanently lost<\/li>\n<li>The private keys were transmitted to invalid addresses and cannot be recovered<\/li>\n<\/ul>\n<p>In addition, <strong>estimating the number of members in the Vladimir Club is quite challenging. <\/strong>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.<\/p>\n<p>The concept of the Vladimir Club is now commonly used to refer to <strong>cryptocurrencies other than Bitcoin.<\/strong> 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.<\/p>\n<p>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.<\/p>\n<p>Unfortunately, the overall quantity of BNB is gradually diminishing. This is happening due to many <a href=https://www.bitdegree.org/"//crypto//learn//crypto-terms//what-is-burning/">coin burn<\/strong><\/a> 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.<\/p>","definition":"a person who has acquired 0.01% of the maximum supply of a cryptocurrency is referred to as a member of this club.","status":"published","meta_title":"What is Vladimir Club? Definition & Meaning | Crypto Wiki","meta_description":"Vladimir Club meaning: Vladimir Club - a person who has acquired 0.01% of the maximum supply of a cryptocurrency is referred to as a member of this club.","meta_keywords":null,"author":{"id":1,"user_id":1,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2023-05-11T07:18:20.000000Z","title":"Editor-In-Chief","slug":"aaron-s-editor-in-chief","description":"<p>Having completed a Master&rsquo;s degree on Economics, Politics &amp; Culture for the East Asia region, Aaron has written scientific papers with a comparative analysis of the differences between US&rsquo; Western and Japan&rsquo;s Collective forms of capitalism, 1945-2020.<\/p>\n<p>With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He&rsquo;s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.<\/p>\n<p>Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain &amp; Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.<\/p>\n<p>Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.<\/p>","user":{"id":1,"first_name":"Aaron","last_name":"S.","email":"aaron@bitdegree.org","email_sanitized":"aaron@bitdegree.org","email_verified_at":"2023-12-01T09:40:20.000000Z","must_verify_email":false,"is_registered_with_wallet":false,"status":"active","country":"LT","last_connected_ip":"88.119.132.125","image_id":2641,"referral_token":"05TMu2NysXOCn525","referred_by":null,"created_at":"2023-05-03T14:30:55.000000Z","updated_at":"2024-01-09T15:22:21.000000Z","full_name":"Aaron S."}}}" :chapter-list="[{"id":1,"title":"Blockchain","slug":"blockchain","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-blockchain.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/blockchain-101.jpg","rating":100,"sections":[{"chapter_id":1,"order":1,"slug":"what-is-blockchain","title":"What is the Blockchain?","status":"published","modified_content":null},{"chapter_id":1,"order":2,"slug":"decentralized-blockchain","title":"Anonymous & Decentralized Blockchains: The Cornerstone of Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":3,"slug":"blockchain-transaction","title":"What is a Blockchain Transaction in Crypto?","status":"published","modified_content":null},{"chapter_id":1,"order":4,"slug":"crypto-fees","title":"The Different Types of Crypto Fees Explained","status":"published","modified_content":null},{"chapter_id":1,"order":5,"slug":"what-is-bridging-in-crypto","title":"The Key Notion Behind the Concept of Bridging in Crypto","status":"published","modified_content":null},{"chapter_id":1,"order":6,"slug":"types-of-blockchains","title":"Different Types of Blockchains: What to Look Out For?","status":"published","modified_content":null}]},{"id":2,"title":"Cryptocurrencies","slug":"cryptocurrencies","updated":null,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-cryptocurrencies.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/cryptocurrencies-101.jpg","rating":100,"sections":[{"chapter_id":2,"order":1,"slug":"what-is-a-cryptocurrency","title":"What is a Cryptocurrency?","status":"published","modified_content":null},{"chapter_id":2,"order":2,"slug":"how-does-cryptocurrency-work","title":"How Does Cryptocurrency Work?","status":"published","modified_content":null},{"chapter_id":2,"order":3,"slug":"is-cryptocurrency-a-good-investment","title":"Is Cryptocurrency a Good Investment? The Pros & Cons","status":"published","modified_content":null},{"chapter_id":2,"order":4,"slug":"coin-vs-token","title":"Coin VS Token: How Do They Differ?","status":"published","modified_content":null},{"chapter_id":2,"order":5,"slug":"what-are-stablecoins","title":"What are Stablecoins, Altcoins & Wrapped Coins?","status":"published","modified_content":null},{"chapter_id":2,"order":6,"slug":"what-is-a-bitcoin","title":"Bitcoin: the Pioneer of the Crypto World","status":"published","modified_content":null},{"chapter_id":2,"order":7,"slug":"what-is-ethereum","title":"The Ultimate Blockchain for dApp Creation: Ethereum","status":"published","modified_content":null},{"chapter_id":2,"order":8,"slug":"what-is-cardano-in-crypto","title":"What is Cardano and What is It Used For?","status":"published","modified_content":null},{"chapter_id":2,"order":9,"slug":"what-is-shiba-inu-coin","title":"Shiba Inu: the Dogecoin 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Standards","status":"published","modified_content":null},{"chapter_id":3,"order":5,"slug":"how-to-buy-crypto","title":"From Fiat to Crypto: How to Buy Crypto for the First Time","status":"published","modified_content":null},{"chapter_id":3,"order":6,"slug":"fiat-to-crypto","title":"Taking Profits: Turning Crypto Into Fiat","status":"published","modified_content":null},{"chapter_id":3,"order":7,"slug":"how-to-use-crypto","title":"You\u2019ve Got Crypto: What Can You Do With It?","status":"published","modified_content":null}]},{"id":4,"title":"Crypto Wallets","slug":"crypto-wallets","updated":false,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-crypto-wallets.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/crypto-wallets-101.jpg","rating":80,"sections":[{"chapter_id":4,"order":1,"slug":"what-is-a-crypto-wallet","title":"What is a Crypto 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The Ins and Outs","status":"published","modified_content":null},{"chapter_id":5,"order":3,"slug":"buying-nft","title":"Tips and Tricks of Choosing the Right NFTs","status":"published","modified_content":null},{"chapter_id":5,"order":4,"slug":"how-to-store-nft","title":"How to Store NFTs: Best Practices","status":"published","modified_content":null},{"chapter_id":5,"order":5,"slug":"how-to-create-an-nft","title":"How to Create Your Own NFTs?","status":"published","modified_content":null},{"chapter_id":5,"order":6,"slug":"how-to-make-passive-money-with-nft","title":"Making Passive Money with NFTs","status":"published","modified_content":null}]},{"id":6,"title":"dApps & Defi","slug":"dapps-and-defi","updated":true,"chapter":"crypto\/assets\/crypto-book\/chapters\/learn-dapps.jpg","chapter_simple":"crypto\/assets\/crypto-book\/chapters-simple\/dapps-defi-101.jpg","rating":80,"sections":[{"chapter_id":6,"order":1,"slug":"what-are-nfts","title":"What are Non-Fungible Tokens (NFTs)?","status":"published","modified_content":null},{"chapter_id":6,"order":1,"slug":"what-is-defi","title":"What is Decentralized Finance (DeFi)?","status":"published","modified_content":null},{"chapter_id":6,"order":2,"slug":"what-is-defi-2-0","title":"DeFi 2.0: The New Version of Decentralized Finance","status":"published","modified_content":null},{"chapter_id":6,"order":3,"slug":"what-are-dapps-in-crypto","title":"What Are dApps and How Do They Work?","status":"published","modified_content":null},{"chapter_id":6,"order":4,"slug":"defi-dapps","title":"Picking the Right dApps: Dos and Don'ts","status":"published","modified_content":null},{"chapter_id":6,"order":5,"slug":"what-is-web-3-0","title":"Web 3.0: The Future of the Internet","status":"published","modified_content":null},{"chapter_id":6,"order":6,"slug":"what-are-smart-contracts","title":"What is the Core Purpose of Smart Contracts?","status":"published","modified_content":null},{"chapter_id":6,"order":7,"slug":"what-is-a-dao-in-crypto","title":"The Notion of a Decentralized Autonomous Ogranization (DAO)","status":"published","modified_content":null},{"chapter_id":6,"order":8,"slug":"what-is-staking-in-crypto","title":"What is the Goal of Staking Crypto Assets?","status":"published","modified_content":null},{"chapter_id":6,"order":9,"slug":"what-is-liquidity-pool-in-crypto","title":"What is a Liquidity Pool and How Does It Work?","status":"published","modified_content":null},{"chapter_id":6,"order":10,"slug":"what-is-automated-market-maker","title":"Automated Market Maker: the Cornerstone of the Decentralized Crypto Exchange Industry","status":"published","modified_content":null},{"chapter_id":6,"order":11,"slug":"what-is-yield-farming-in-crypto","title":"The Main Yield Farming 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