Bitcoin Forum

The 'Bitcoinaire' club continues to grow

https://twitter.com/shakepay/status/1153343040288952322

i don't like to read too much into these metrics---same with total number of addresses or total number of blockchain.info wallets. these stats can be easily gamed. we can't actually tell how many "people" control those addresses. if one bitcoin whale were so inclined, he could make himself look like many thousands of "bitcoinaires". just sayin!

True but still if those numbers continue to grow, who might know that one ore more addresses are still owned by a single person, it is not just always the case, the bitcoin community is expanding. if we will see in the future maybe that there are 10 million wallets with at least a single bitcoin on it the it could be alarming too, liquidize and the owner are somewhat holding to a single bitcoin for them to sell at their own likes. If that is the case then truly bitcoin will be scarce and pricey.

I own more than 1 Bitcoin, yet I never had 1 Bitcoin or more in one address. I'm currently consolidating my coins, but I don't want to put everything into one address, for privacy and security reasons. And since I plan to sell in batches in the future, it makes no big difference if my coins are fully consolidated or not, as long as I don't use more than one input.

Wealthier people can own multiple addresses with at least 1 Bitcoin, so this simple observation isn't very informative. It would be much better to get a proper survey, but I don't think many people would like to talk about their holding to strangers.

That's a big number of address and too much to hold if its only one person. There might be a group of people who continues to work, or the worst thing is that those are scammers address which is very common for them to have more bitcoin addresses. I don't have 1BTC as of now but I do only have 3 BTC address just to make sure my money is safe but never to make a hundred of addresses, its hard to manage honestly.

Did you even read OP? He's saying that each of these addresses contains 1 BTC in it, at no point does he say that a single person owns all of these addresses.

Fun fact, owning 1 BTC is equivalent to owning around 700 acres of land in terms of rarity.

That's a big number, it means the money flow is growing fast. And we are having more holders, but at the end, let's remember how an owner can have multiples addys, so, those 744,066 doesn't mean we have that amount of users holding one addy each one.

And for sure tons of those addys are from exchanges. and close to 20k addys are satoshi's addys.

This may not really mean it's 744,066 persons that own this, it may have been scattered across wallets by same several owners. But I think the people having 1BTC is more the quoted figure above. The Chinese is a massive population not tyo talk of the entire Asia continent.

Not much can be inferred from this statistic. It is not clear how many of these wallets are owned by individuals and how many of them are owned by companies such as exchanges and online casinos. Secondly, there is a chance that the same individual is in the possession of multiple wallets. For someone in possession of BTC100 or more, it is not unusual to have as many as a dozen different wallets. And another thing is the existence of lost coins. There are coins, which can never be spent because no one is having the private key (Satoshi's stash of BTC980,000 is a perfect example). The only information regarding the Bitcoin wealth distribution comes from rpietila's thread here (but it is not very reliable):

https://bitcointalk.org/index.php?topic=316297.0

first of all a tweet from a random person is barely a reliable source to post it here as the link to back up what you said. try using the direct websites that do these kinds of count and post stats such as bitinfocharts.com.

secondly, i am with figment on this one. these stats are very unreliable. specially since the price is rising and those with larger amounts of bitcoin have been spreading them among multiple addresses for many reasons including not wanting to draw attention to themselves.
the only stats that can be reliable to some extent is stats coming from centralized services for example the number of accounts Coinbase has and how much they own on average. or the number of payments that BitPay processes per day,...

We can't tell that unless the data have shown also the last transaction in that particular wallet or the bitcoin inside the wallet didn't move to another wallet for a matter of time and also some of the big whales out there don't also use a single wallet for their Bitcoins.

I also think that those 744,066 bitcoin addresses own at least 1 bitcoin can be considered some of them has the same owner, the owner is just distributing his/her bitcoins to different bitcoin addresses.

Interesting numbers, but I don't know how reliable this information it. Random twitter user posted chart without any reference from where he took this information.
And even if it's correct number, it's pretty much meaningless stats which don't shows how many people hold more than 1 BTC. Many of these address belongs to exchanges, gambling websites and other crypto services. Also, maybe one person hold 50 BTC (insert number that you like), but he may have divided into multiple addresses. Personally, I also currently don't hold more than 1 Bitcoin in single address.

That is the truth that bitcoin holder continue to grow. I don't think that those plenty bitcoin addresses are just owned by a single person. It's difficult to manage really. I think it was owned by a group of people or exchange or maybe it was already lost.

I honestly don't even know how many addresses I own with coins in them. I decided long ago that it's better to spread them out instead of holding everything in just one or two addresses. I have also funded some physical coins in the last 12 months, which helps inflate these statistics as well. Similarly, more people get wiser and choose to spread out their holdings.

Coinbase not that long ago did that too, which means that without any new people entering the world of crypto, tens of thousands of addresses have been created with at least a whole coin as balance. News outlets will sell you the story as there being more users entering crypto, but that's largely bs.

Bitcoin has become more widely known and the more Bitcoin holders have demonstrated the network's dispersion, the higher the share of the network is.  The number is more than 774,000 addresses for regular hold bitcoin addresses.  The community has trusted Bitcoin more and they want to own Bitcoin in the future.  That means that Bitcoin traffic will decrease and value will gradually increase.

Doesn't mean anything at all. And we can't even deduce if those the owner of those addresses have still full control of the privatekey. And as a rule of thumb, everyone should spread their bitcoin throughout several addresses so that you will remain at least (psuedo) anonymous.

So this statistics is meaningless, and there could be more investors holding at least 1 BTC growing everyday.

This goes a long way to show that the circulating btc is being distributed and accumulated. It's still a long way off before significant BTC holders can start moving some funds around.

That's not a mystery. Not everyone is rich. Some guys only play a bit around with BTC.
Other, same me has dozens of wallets with small amounts from exchange or payback.

How did they sourced out this statistics? and is it possible to know on how many people holds 1 or more bitcoin for each bitcoin addresses that they own. This isn't going to be 1 is to 1 ratio.

But I'll look to the positive perspective of this stats and consider this as normal growth of bitcoin.

Lol a single individual can own even atleast 100 addresses or even 1000 so what’s the difference on that?

Nothing’s interesting because whales can provide how many wallets they wanted to portray

Exactly that’s what I’m saying here mate.

I don't know there that much, but I'm sure I'm part of the club.
I'm happy to know the number is big, not like what I expected, but is there any way to verify its accuracy?

I only consider the difference in the past one year, it looks significantly lower than in past 7 years. There is possibility that hoarding had started far back as last year June and the higher price this time could have reduced the acquisition from new investors. The addresses in 2016-2018 could also be from ICOs and new exchanges, also, just assumption. The bear market also slowed down the exchange, this might extend till next ATH

He never said it's people. Title says 744060 addresses. OP, do you own one address from the list?
People who mined/bought bitcoin at the very beginning moment are now holding a huge amount. It would better to have a rich list.
Edit- Here's the rich list- https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html

The number or graph shown on the tweet can't be deemed as accurate because nothing was mentioned about each of the addresses being unique or not.

There could be more or less people who potentially owns 1 BTC but i'd say more as others could be moving their BTC constantly(for profit) through trading, lending, investing, etc then buying it back to complete their 1 btc in the future.

I don't think that is the real number of the owner bitcoin address because it's not good if we save all of bitcoin we have in one wallet addresses only. I am sure that many people have separate bitcoin wallet address to keep their bitcoin so they can prevent from losing all of the bitcoin amounts if they get something bad with their wallet. That is normal if we have more than 3 wallet address, so we don't take all of our bitcoin in one wallet.

i save all of my bitcoin on one address only but the good part is that i dont leave them idle for a long time , instead i use them or i cash out all of them on a certain time .  so far i dont any have bad experiences from hodling a bitcoin and from the online wallet provider that i use   but your suggestions that we must diversify our bitcoins to many wallets is good , just incase one wallet could be hack and we can still have a back up funds left to other wallets  .

I wonder how many of that addresses are own by one person only.

I'm pretty certain that most of the riches in crypto does not only put their bitcoin in one wallet, they also know how to minimize the risk, so if we analyze, maybe less than 50% of the wallet address are own by individuals.