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2781  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 07, 2015, 09:08:54 PM
the answer is almost no banks can liquidate more than 2 or 3% of their deposit!

In eurozone they actually have 1% of reserve requirement (was 2% before 2012), in USA some small banks can have 0% of reserve !

http://en.wikipedia.org/wiki/Reserve_requirement


Note that in China, reserve requirement is 19%. It has just been reduced from 20%. Everywhere in the world, legal requirements are shrinking.

People must be aware. They have the power for not replay this shit on bitcoin ecosystem...

simply DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK

2782  Local / Italiano (Italian) / Attenzione bitstamp - banca blocca i depositi USD on: February 07, 2015, 08:57:41 PM
sulla sezione internazionale sta girando questo warning:

http://insidebitcoins.com/news/bank-blocks-bitstamp-usd-deposits/29681
2783  Economy / Speculation / Re: Prepare for another year of slow declining prices on: February 07, 2015, 11:36:38 AM
People who are in just for the money... prepare for another year of falling prices. And people asking the same questions everyday and the same answers, people saying the same thing over and over, on this subforum. be prepared.

I think this is not true  if all learn this simple rule:

DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK

https://bitcointalk.org/index.php?topic=945881.0
2784  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 07, 2015, 11:15:16 AM
The concept you explained is similar like what we see in banks. If every person who holds an account decides to make quick withdrawal simultaneously at the same time how many banks can actually liquidate the assets that they hold to pay off that amount?

the answer is almost no banks can liquidate more than 2 or 3% of their deposit!

In eurozone they actually have 1% of reserve requirement (was 2% before 2012), in USA some small banks can have 0% of reserve !

http://en.wikipedia.org/wiki/Reserve_requirement
2785  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 07, 2015, 09:50:18 AM
What if you are a day trader and need to keep your coins on the exchange to benefit from market movements?

how I wrote in Q&A :
"Of course there are traders out there who will keep their BTC on the exchanges a little longer but for the average
Joe there’s no need to use an Exchange as a wallet."

the "DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK" mantra is for
average Joe, traders are forced to keep their BTC on exchange wallet.

actually I dont know a solution for traders, only keep they BTC the shortest time they can
(or change hobbies Wink )
2786  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 06, 2015, 10:55:59 PM

I am not that deep into blockchain analysis as you are, but some of the exchanges adresses are known. I think it could be quite easy to estimate wideley they fluctuate in terms of coins. I assume they have a stock which is barely moving and even if they care, they could use at least half of this to do FRB. Do you have further information?


do you know where i can get an updated database of exchanges addresses ?
2787  Economy / Economics / Re: Is Fractional Reserve banking possible with Bitcoin? on: February 06, 2015, 03:31:10 PM
I think there is an important inflationary effect due to exchanges fractional-reserve,
I started this topic about: https://bitcointalk.org/index.php?topic=945881.0
2788  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 06, 2015, 02:49:22 PM
very insightful post - thank you

I assume we all know how fishy most of the exchanges are working but I never thought directly about that possibility.


Thank.  Spread the word about this problem, and remember the golden rule:

DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK



your advice, I guess at this point of time is the only thing we can do. do you have any possbilities to estimate at which rate they are probably doing this.

I am not that deep into blockchain analysis as you are, but some of the exchanges adresses are known. I think it could be quite easy to estimate wideley they fluctuate in terms of coins. I assume they have a stock which is barely moving and even if they care, they could use at least half of this to do FRB. Do you have further information?


I am making some work about this.


Edit: this obviously holds true for every off-chain transaction type, whether it be changetip, satoshi dice or every other possibility doesn't it?


Sure. every off-chain transaction expose to this problem. But BTC exchanges have on their wallets a lot of BTC....
2789  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 06, 2015, 01:45:14 PM

Yes, but that's very different from what the banks are doing.
It's certainly a possibility that an exchange uses, say 50%, of the BTC it has, to invest around at its own risk, doing things like selling those BTC and invest the cash into stocks, but that's no money creation. It's more like if I lend you my car to do your shopping, you use it to go racing.


technically speaking, the BTC exchange don't have the rule of central bank (real money creation, namely BTC mining), but the rule of commercial bank.
But they can operate EXACTLY as  a commercial bank (commercial bank are 99% of banks)

from http://en.wikipedia.org/wiki/Fractional-reserve_banking:

Money creation process
Main article: Money creation

There are two types of money in a fractional-reserve banking system operating with a central bank:[15][16][17]

    Central bank money: money created or adopted by the central bank regardless of its form –
    precious metals, commodity certificates, banknotes, coins, electronic money loaned to commercial banks,
    or anything else the central bank chooses as its form of money
 
    Commercial bank money: demand deposits in the commercial banking system;
    sometimes referred to as "chequebook money"

When a deposit of central bank money is made at a commercial bank, the central bank money
is removed from circulation and added to the commercial banks' reserves
(it is no longer counted as part of M1 money supply). Simultaneously,
an equal amount of new commercial bank money is created in the form of bank deposits.
When a loan is made by the commercial bank (which keeps only a fraction of the central bank money as reserves),
using the central bank money from the commercial bank's reserves, the m1 money supply expands by the size of
the loan.[2] This process is called "deposit multiplication".

2790  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 06, 2015, 11:30:57 AM
A very useful post indeed!

Thank.  Spread the word about this problem, and remember the golden rule:

DO NOT HOLD YOUR BTC ON THIRD PARTY EXCHANGES – BE YOUR OWN BANK
2791  Bitcoin / Bitcoin Discussion / Re: mtgox price manipulation question on: February 06, 2015, 08:32:28 AM
exchanges can use fractional-reserve too: https://bitcointalk.org/index.php?topic=945881.0
2792  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 06, 2015, 05:41:48 AM
There's a huge difference with the banking sector and BTC exchange companies and I'm not sure you've seen it.

Today's banks actually have the power to create money. They keep a 2% fractional reserve as the law requires in the US, and then they multiply from that, lending money which they do not have and do not even actually exist, but you can't do that with BTC. The amount of BTC deposited at an exchange is fixed, and cannot be multiplied. BTC cannot be created except by miners, and double spend is not allowed.

I'm not saying it's safe to keep your BTC at an exchange, but it is actually much less risky than depositing cash at a bank.



In the first post I explain in detail how they can do it.
2793  Economy / Economics / Re: number of transactions per day higher than ever on: February 05, 2015, 06:56:05 PM
I think there is an important inflationary effect due to exchanges fractional-reserve: https://bitcointalk.org/index.php?topic=945881.0
2794  Economy / Economics / Re: Who control our bitcoins? WE do!! ☆ BANK RUN ☆ on: February 05, 2015, 06:46:33 PM
here my topic about BTC exchanges and their way of using a fractional-reserve: https://bitcointalk.org/index.php?topic=945881.0
2795  Local / Italiano (Italian) / Re: [IMPORTANTE] Gli exchange e la riserva frazionaria on: February 05, 2015, 10:10:47 AM
Nella sezione internazionale mi segnalano che kracken implementato un processo di verifica della riserva.

https://www.kraken.com/security/audit#audit

https://www.kraken.com/security/audit#verify

qualcuno sa come funziona ? non vorrei passare una giornata a studiarlo per scoprire che e' una cazzata Smiley

Sinceramente non ne ero a conoscenza, e solo dedicare tutto questo spazio al tema
fa a quelli di kraken grande onore...
2796  Economy / Speculation / Re: [ 4 feb data ] A BITCOIN PRICE THEORY on: February 05, 2015, 08:20:48 AM
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  340925  28/01/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58226599   0.00%   0.00%  93.4424%              99418         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425198  36.79%   8.43%   0.6824%  10.41%         17         0.00425  36.79%   8.43%   0.0000%         0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1664375  77.26%  16.21%   2.6710%  40.73%      -1734       381.30570  71.44%   4.82%   0.0028%        -0.28711
> 0.001 BTC <= 0.1 BTC               1310670  68.26%   5.11%   2.1034%  32.08%       -810     27606.21077  72.31%   7.63%   0.2005%       -43.49265
> 0.1 BTC <= 1 BTC                    377243  69.86%   5.54%   0.6054%   9.23%         43    167142.27458  74.34%   7.29%   1.2138%       -46.79905
> 1 BTC <= 5 BTC                      152469  68.51%   5.54%   0.2447%   3.73%       -138    367221.03089  69.88%   5.92%   2.6667%      -259.17218
> 5 BTC <= 10 BTC                      44745  71.49%   5.24%   0.0718%   1.10%        -54    343443.13983  73.33%   5.31%   2.4941%      -298.81071
> 10 BTC <= 25 BTC                     35020  70.45%   5.59%   0.0562%   0.86%        -43    575010.18954  71.80%   5.80%   4.1757%      -779.91119
> 25 BTC <= 50 BTC                     52403  91.23%  69.91%   0.0841%   1.28%         41   2405511.35696  93.22%  75.68%  17.4686%      1157.51265
> 50 BTC <= 75 BTC                      5378  69.34%  12.76%   0.0086%   0.13%        -16    321842.99310  68.92%  11.54%   2.3372%      -915.95210
> 75 BTC <= 100 BTC                     7282  84.34%   5.44%   0.0117%   0.18%         27    691185.86825  85.34%   5.45%   5.0193%      2424.26274
> 100 BTC <= 500 BTC                    8358  67.98%   3.77%   0.0134%   0.20%         39   1765869.28975  68.35%   2.86%  12.8236%     12406.19187
> 500 btc <= 1000 BTC                   1590  75.97%   0.00%   0.0026%   0.04%          4   1098253.66566  75.69%   0.00%   7.9754%       972.28596
> 1000 BTC                              1485  76.43%   0.00%   0.0024%   0.04%         -3   6006988.40254  70.51%   0.00%  43.6223%    -10515.84312
                  Total Actives      4086216  69.19%  10.87%   6.5576% 100.00%      -2627  13770455.73153  75.48%  14.77% 100.0000%      4099.98511
                  Total             62312815   4.54%   0.71% 100.0000%              96791  13770455.73153  75.48%  14.77% 100.0000%      4099.98511

                  Transactions      58112391                                        85232
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341089  29/01/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58330784   0.00%   0.00%  93.4442%             104185         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425175  36.79%   8.43%   0.6811%  10.39%        -23         0.00425  36.79%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1665475  77.28%  16.20%   2.6680%  40.70%       1100       381.62218  71.33%   4.81%   0.0028%         0.31648
> 0.001 BTC <= 0.1 BTC               1313643  67.87%   5.10%   2.1044%  32.10%       2973     27741.30414  71.84%   7.59%   0.2014%       135.09337
> 0.1 BTC <= 1 BTC                    378839  69.21%   5.52%   0.6069%   9.26%       1596    167428.08261  73.77%   7.28%   1.2155%       285.80802
> 1 BTC <= 5 BTC                      152929  67.87%   5.53%   0.2450%   3.74%        460    368180.45673  69.27%   5.91%   2.6729%       959.42584
> 5 BTC <= 10 BTC                      44713  71.10%   5.25%   0.0716%   1.09%        -32    343191.96993  72.95%   5.31%   2.4915%      -251.16990
> 10 BTC <= 25 BTC                     35047  69.91%   5.58%   0.0561%   0.86%         27    575449.39267  71.28%   5.79%   4.1776%       439.20314
> 25 BTC <= 50 BTC                     52399  91.07%  69.91%   0.0839%   1.28%         -4   2405468.80671  93.08%  75.68%  17.4631%       -42.55025
> 50 BTC <= 75 BTC                      5361  68.94%  12.78%   0.0086%   0.13%        -17    320612.63345  68.54%  11.57%   2.3276%     -1230.35965
> 75 BTC <= 100 BTC                     7293  83.87%   5.43%   0.0117%   0.18%         11    692205.02713  84.88%   5.45%   5.0252%      1019.15888
> 100 BTC <= 500 BTC                    8395  67.35%   3.75%   0.0134%   0.21%         37   1775629.23967  67.57%   2.84%  12.8906%      9759.94993
> 500 btc <= 1000 BTC                   1591  75.49%   0.00%   0.0025%   0.04%          1   1099753.12971  75.23%   0.00%   7.9839%      1499.46405
> 1000 BTC                              1482  76.11%   0.00%   0.0024%   0.04%         -3   5998514.03572  70.39%   0.00%  43.5478%     -8474.36682
                  Total Actives      4092342  68.98%  10.86%   6.5558% 100.00%       6126  13774555.70463  75.18%  14.76% 100.0000%      4099.97310
                  Total             62423126   4.52%   0.71% 100.0000%             110311  13774555.70463  75.18%  14.76% 100.0000%      4099.97310

                  Transactions      58203270                                        90879
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341227  30/01/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58421237   0.00%   0.00%  93.4440%              90453         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425163  36.79%   8.43%   0.6800%  10.37%        -12         0.00425  36.79%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1667703  77.26%  16.17%   2.6675%  40.69%       2228       382.45785  71.33%   4.80%   0.0028%         0.83567
> 0.001 BTC <= 0.1 BTC               1315789  67.98%   5.09%   2.1046%  32.10%       2146     27819.78870  71.96%   7.57%   0.2019%        78.48456
> 0.1 BTC <= 1 BTC                    380535  69.69%   5.49%   0.6087%   9.28%       1696    168095.35640  74.11%   7.25%   1.2200%       667.27379
> 1 BTC <= 5 BTC                      153172  68.10%   5.52%   0.2450%   3.74%        243    368806.05465  69.48%   5.90%   2.6768%       625.59792
> 5 BTC <= 10 BTC                      44743  71.22%   5.24%   0.0716%   1.09%         30    343688.58219  73.06%   5.30%   2.4945%       496.61226
> 10 BTC <= 25 BTC                     35087  70.16%   5.58%   0.0561%   0.86%         40    576162.60803  71.51%   5.79%   4.1818%       713.21535
> 25 BTC <= 50 BTC                     52452  91.17%  69.84%   0.0839%   1.28%         53   2407106.05076  93.16%  75.63%  17.4706%      1637.24405
> 50 BTC <= 75 BTC                      5381  69.13%  12.73%   0.0086%   0.13%         20    321693.71998  68.75%  11.53%   2.3348%      1081.08653
> 75 BTC <= 100 BTC                     7294  84.15%   5.43%   0.0117%   0.18%          1    692399.69108  85.11%   5.44%   5.0254%       194.66395
> 100 BTC <= 500 BTC                    8387  68.42%   3.76%   0.0134%   0.20%         -8   1777666.46741  69.03%   2.84%  12.9022%      2037.22774
> 500 btc <= 1000 BTC                   1598  76.41%   0.00%   0.0026%   0.04%          7   1104004.36189  76.03%   0.00%   8.0128%      4251.23218
> 1000 BTC                              1482  74.90%   0.00%   0.0024%   0.04%          0   5990180.51595  69.10%   0.00%  43.4764%     -8333.51977
                  Total Actives      4098786  69.07%  10.84%   6.5560% 100.00%       6444  13778005.65886  74.92%  14.76% 100.0000%      3449.95423
                  Total             62520023   4.53%   0.71% 100.0000%              96897  13778005.65886  74.92%  14.76% 100.0000%      3449.95423

                  Transactions      58284469                                        81199
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341393  31/01/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58532881   0.00%   0.00%  93.4242%             111644         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425157  36.79%   8.43%   0.6786%  10.32%         -6         0.00425  36.79%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1685549  77.01%  16.00%   2.6903%  40.91%      17846       385.20232  71.16%   4.77%   0.0028%         2.74447
> 0.001 BTC <= 0.1 BTC               1318005  67.83%   5.09%   2.1037%  31.99%       2216     27887.61591  71.83%   7.55%   0.2023%        67.82721
> 0.1 BTC <= 1 BTC                    381672  69.36%   5.47%   0.6092%   9.26%       1137    168246.65821  73.80%   7.25%   1.2208%       151.30181
> 1 BTC <= 5 BTC                      153204  67.92%   5.52%   0.2445%   3.72%         32    368911.30901  69.31%   5.89%   2.6767%       105.25436
> 5 BTC <= 10 BTC                      44724  70.98%   5.24%   0.0714%   1.09%        -19    343460.76006  72.84%   5.30%   2.4921%      -227.82213
> 10 BTC <= 25 BTC                     35041  70.00%   5.58%   0.0559%   0.85%        -46    575333.39651  71.34%   5.79%   4.1745%      -829.21152
> 25 BTC <= 50 BTC                     52454  91.13%  69.84%   0.0837%   1.27%          2   2407397.64758  93.12%  75.62%  17.4675%       291.59682
> 50 BTC <= 75 BTC                      5394  68.82%  12.70%   0.0086%   0.13%         13    322524.55107  68.42%  11.50%   2.3402%       830.83110
> 75 BTC <= 100 BTC                     7296  84.57%   5.43%   0.0116%   0.18%          2    692519.27189  85.55%   5.44%   5.0248%       119.58081
> 100 BTC <= 500 BTC                    8375  67.71%   3.76%   0.0134%   0.20%        -12   1774070.79994  68.17%   2.84%  12.8722%     -3595.66748
> 500 btc <= 1000 BTC                   1595  75.80%   0.00%   0.0025%   0.04%         -3   1102782.88530  75.60%   0.00%   8.0015%     -1221.47658
> 1000 BTC                              1488  75.54%   0.00%   0.0024%   0.04%          6   5998635.55030  69.31%   0.00%  43.5247%      8455.03435
                  Total Actives      4119954  68.91%  10.78%   6.5758% 100.00%      21168  13782155.65208  74.85%  14.75% 100.0000%      4149.99321
                  Total             62652835   4.53%   0.71% 100.0000%             132812  13782155.65208  74.85%  14.75% 100.0000%      4149.99321

                  Transactions      58370781                                        86312
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341548  01/02/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58633733   0.00%   0.00%  93.4244%             100852         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425187  36.79%   8.43%   0.6775%  10.30%         30         0.00425  36.79%   8.43%   0.0000%         0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1688884  76.89%  15.97%   2.6910%  40.92%       3335       387.09717  70.92%   4.74%   0.0028%         1.89485
> 0.001 BTC <= 0.1 BTC               1322415  67.74%   5.07%   2.1071%  32.04%       4410     27943.45522  71.80%   7.54%   0.2027%        55.83931
> 0.1 BTC <= 1 BTC                    380572  69.52%   5.49%   0.6064%   9.22%      -1100    167877.89549  73.91%   7.26%   1.2177%      -368.76272
> 1 BTC <= 5 BTC                      153334  67.82%   5.51%   0.2443%   3.72%        130    369347.43734  69.19%   5.89%   2.6791%       436.12833
> 5 BTC <= 10 BTC                      44803  70.76%   5.23%   0.0714%   1.09%         79    344008.92290  72.64%   5.30%   2.4953%       548.16284
> 10 BTC <= 25 BTC                     35087  69.87%   5.58%   0.0559%   0.85%         46    575895.28148  71.22%   5.79%   4.1774%       561.88498
> 25 BTC <= 50 BTC                     52438  91.09%  69.86%   0.0836%   1.27%        -16   2407230.52325  93.07%  75.62%  17.4614%      -167.12433
> 50 BTC <= 75 BTC                      5416  68.67%  12.65%   0.0086%   0.13%         22    323712.70849  68.29%  11.45%   2.3481%      1188.15742
> 75 BTC <= 100 BTC                     7306  84.23%   5.42%   0.0116%   0.18%         10    693547.10767  85.20%   5.44%   5.0308%      1027.83578
> 100 BTC <= 500 BTC                    8361  67.96%   3.77%   0.0133%   0.20%        -14   1771315.07931  68.42%   2.85%  12.8486%     -2755.72063
> 500 btc <= 1000 BTC                   1598  75.91%   0.00%   0.0025%   0.04%          3   1106685.55476  75.58%   0.00%   8.0276%      3902.66946
> 1000 BTC                              1492  74.53%   0.00%   0.0024%   0.04%          4   5998079.78246  68.88%   0.00%  43.5084%      -555.76784
                  Total Actives      4126893  68.85%  10.76%   6.5756% 100.00%       6939  13786030.84952  74.66%  14.75% 100.0000%      3875.19744
                  Total             62760626   4.53%   0.71% 100.0000%             107791  13786030.84952  74.66%  14.75% 100.0000%      3875.19744

                  Transactions      58449775                                        78994
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341707  02/02/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58755815   0.00%   0.00%  93.4441%             122082         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425184  36.79%   8.43%   0.6762%  10.31%         -3         0.00425  36.79%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1682483  77.30%  16.03%   2.6758%  40.81%      -6401       385.76956  71.38%   4.76%   0.0028%        -1.32761
> 0.001 BTC <= 0.1 BTC               1322094  67.92%   5.07%   2.1026%  32.07%       -321     27985.07056  71.95%   7.53%   0.2029%        41.61534
> 0.1 BTC <= 1 BTC                    382450  69.85%   5.46%   0.6082%   9.28%       1878    168592.63898  74.17%   7.23%   1.2226%       714.74349
> 1 BTC <= 5 BTC                      153493  68.22%   5.50%   0.2441%   3.72%        159    369785.87193  69.55%   5.88%   2.6815%       438.43459
> 5 BTC <= 10 BTC                      44784  70.96%   5.24%   0.0712%   1.09%        -19    343832.35139  72.84%   5.30%   2.4933%      -176.57151
> 10 BTC <= 25 BTC                     35132  70.08%   5.57%   0.0559%   0.85%         45    576444.97103  71.43%   5.78%   4.1802%       549.68955
> 25 BTC <= 50 BTC                     52453  91.14%  69.84%   0.0834%   1.27%         15   2407301.55677  93.12%  75.62%  17.4569%        71.03352
> 50 BTC <= 75 BTC                      5421  69.01%  12.64%   0.0086%   0.13%          5    324293.01844  68.60%  11.43%   2.3517%       580.30995
> 75 BTC <= 100 BTC                     7295  84.43%   5.43%   0.0116%   0.18%        -11    692635.35592  85.38%   5.44%   5.0227%      -911.75175
> 100 BTC <= 500 BTC                    8364  68.14%   3.77%   0.0133%   0.20%          3   1775113.62007  68.59%   2.84%  12.8725%      3798.54077
> 500 btc <= 1000 BTC                   1613  75.95%   0.00%   0.0026%   0.04%         15   1118957.39433  75.62%   0.00%   8.1143%     12271.83957
> 1000 BTC                              1487  74.58%   0.00%   0.0024%   0.04%         -5   5984678.16703  68.82%   0.00%  43.3987%    -13401.61542
                  Total Actives      4122253  69.11%  10.78%   6.5559% 100.00%      -4640  13790005.78999  74.71%  14.74% 100.0000%      3974.94048
                  Total             62878068   4.53%   0.71% 100.0000%             117442  13790005.78999  74.71%  14.74% 100.0000%      3974.94048

                  Transactions      58535762                                        85987
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341834  03/02/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 58884696   0.00%   0.00%  93.4481%             128881         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425166  36.79%   8.43%   0.6747%  10.30%        -18         0.00425  36.79%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1686552  77.25%  15.99%   2.6765%  40.85%       4069       386.38456  71.32%   4.75%   0.0028%         0.61500
> 0.001 BTC <= 0.1 BTC               1325581  67.81%   5.06%   2.1037%  32.11%       3487     28095.26620  71.82%   7.50%   0.2037%       110.19564
> 0.1 BTC <= 1 BTC                    380981  69.48%   5.48%   0.6046%   9.23%      -1469    168224.90726  73.88%   7.24%   1.2196%      -367.73172
> 1 BTC <= 5 BTC                      153518  68.05%   5.50%   0.2436%   3.72%         25    369694.23058  69.42%   5.88%   2.6803%       -91.64135
> 5 BTC <= 10 BTC                      44839  70.82%   5.23%   0.0712%   1.09%         55    344211.66891  72.71%   5.29%   2.4955%       379.31752
> 10 BTC <= 25 BTC                     35235  70.04%   5.55%   0.0559%   0.85%        103    578286.79639  71.39%   5.76%   4.1926%      1841.82536
> 25 BTC <= 50 BTC                     52457  91.08%  69.82%   0.0832%   1.27%          4   2407666.49763  93.07%  75.60%  17.4555%       364.94086
> 50 BTC <= 75 BTC                      5412  69.03%  12.66%   0.0086%   0.13%         -9    323880.32909  68.65%  11.45%   2.3481%      -412.68935
> 75 BTC <= 100 BTC                     7325  84.11%   5.41%   0.0116%   0.18%         30    695302.99046  85.08%   5.42%   5.0409%      2667.63454
> 100 BTC <= 500 BTC                    8376  67.98%   3.75%   0.0133%   0.20%         12   1779458.47373  68.34%   2.82%  12.9010%      4344.85366
> 500 btc <= 1000 BTC                   1613  75.51%   0.00%   0.0026%   0.04%          0   1119325.09819  75.17%   0.00%   8.1151%       367.70386
> 1000 BTC                              1484  74.60%   0.00%   0.0024%   0.04%         -3   5978648.10151  68.88%   0.00%  43.3450%     -6030.06552
                  Total Actives      4128539  69.02%  10.76%   6.5519% 100.00%       6286  13793180.74849  74.64%  14.74% 100.0000%      3174.95850
                  Total             63013235   4.52%   0.70% 100.0000%             135167  13793180.74849  74.64%  14.74% 100.0000%      3174.95850

                  Transactions      58627555                                        91793
---------------------------------------------------------------------------------------------------------------------------------------------------
block#  341993  04/02/2015               num  %noOut   %dead   %of tot %of act  diff prev           value  %noOut  %vdead   %TotVal       diff prev
---------------------------------------------------------------------------------------------------------------------------------------------------
= 0                                 59008049   0.00%   0.00%  93.4499%             123353         0.00000   0.00%   0.00%   0.0000%         0.00000
= 1 satoshi (0.00000001 BTC)          425110  36.80%   8.43%   0.6732%  10.28%        -56         0.00425  36.80%   8.43%   0.0000%        -0.00000
> 1 satoshi <= 0.001 BTC  ( ~1$ )    1687960  77.31%  15.98%   2.6732%  40.81%       1408       387.01006  71.39%   4.74%   0.0028%         0.62550
> 0.001 BTC <= 0.1 BTC               1329127  67.92%   5.04%   2.1049%  32.14%       3546     28216.18269  71.92%   7.46%   0.2045%       120.91649
> 0.1 BTC <= 1 BTC                    383418  69.73%   5.45%   0.6072%   9.27%       2437    168860.55637  74.09%   7.22%   1.2239%       635.64911
> 1 BTC <= 5 BTC                      153663  68.18%   5.50%   0.2434%   3.72%        145    369793.32117  69.52%   5.88%   2.6802%        99.09059
> 5 BTC <= 10 BTC                      44891  70.93%   5.22%   0.0711%   1.09%         52    344681.17508  72.80%   5.28%   2.4982%       469.50616
> 10 BTC <= 25 BTC                     35165  70.11%   5.56%   0.0557%   0.85%        -70    577064.37196  71.44%   5.77%   4.1825%     -1222.42443
> 25 BTC <= 50 BTC                     52333  91.06%  69.99%   0.0829%   1.27%       -124   2404039.58441  93.07%  75.72%  17.4242%     -3626.91322
> 50 BTC <= 75 BTC                      5420  69.24%  12.64%   0.0086%   0.13%          8    324301.24158  68.88%  11.43%   2.3505%       420.91248
> 75 BTC <= 100 BTC                     7393  84.32%   5.36%   0.0117%   0.18%         68    702151.41318  85.28%   5.37%   5.0891%      6848.42272
> 100 BTC <= 500 BTC                    8398  68.19%   3.74%   0.0133%   0.20%         22   1782964.03276  68.57%   2.81%  12.9227%      3505.55903
> 500 btc <= 1000 BTC                   1603  76.04%   0.00%   0.0025%   0.04%        -10   1110671.18883  75.71%   0.00%   8.0500%     -8653.90936
> 1000 BTC                              1487  74.58%   0.00%   0.0024%   0.04%          3   5984025.61862  68.88%   0.00%  43.3714%      5377.51710
                  Total Actives      4135968  69.11%  10.74%   6.5501% 100.00%       7429  13797155.70067  74.73%  14.73% 100.0000%      3974.95218
                  Total             63144017   4.53%   0.70% 100.0000%             130782  13797155.70067  74.73%  14.73% 100.0000%      3974.95218

                  Transactions      58718369                                        90814

num      : number of addresses in this range of balance
%noOut   : percentage of active addresses WITHOUT out operations
%dead    : percentage of active addresses with input and output operations prior to 2012
%of tot  : percentage of the TOTAL number addresses
%of act  : percentage of the number of addresses with balance > 0 (active)
diff prev: number variation compared to the previous table
%noOut   : % value transactions WITHOUT output ( % value of range)
%vdead   : % operations value prev 2012 ( % value of range))
%TotVal  : % value of this range compared to the total value
diff prev: change in value compared to the previous table

donations : 17ykWbCHG6eMfLt42zCJVw5bZE1YxRMihL

           NEVER KEEP YOUR BITCOIN ON EXCHANGE WALLET - BE YOUR OWN BANK
                       gbianchi bitcointalk.org



please read this, a topic I wrote about exchange and the way they can create inflation : https://bitcointalk.org/index.php?topic=945881.0
2797  Local / Italiano (Italian) / Re: [IMPORTANTE] Gli exchange e la riserva frazionaria on: February 05, 2015, 07:58:27 AM
per me questa e' la spiegazione piu' plausibile del calo continuo del prezzo dei bitcoin nell'ultimo anno a fronte di tutti gli indicatori 'reali' in salita: vendono piu' bitcoin fittizi di quelli che hanno e poi li ricomprano a prezzo crashato per ripetere lo schema all'infinito. 
Questo e' possibile specialmente per la concentrazione: i 3 cambi maggiori fanno l'80% del volume. Se fossero tanti e piccoli potrebbe non funzionare.





Questo grafico indica la crescita degli indirizzi e delle transazioni. Come si vede, la crescita degli indirizzi e'
abbastanza stabile, quella delle transazioni e' un po' piu' stagnante, ma come ho scritto altrove,
e' sempre attestata attorno al 30% durante tutto il 2014. Ricordate che la scala dell'asse y e' logaritmica,
se fosse lineare vedreste delle linee quasi verticali !



In questo sovrappongo indirizzi e transazioni con i prezzi e alcune regressioni quadratiche
(da non confondere con le linee fantasiose degli analisti tecnici eh)
la regressione quadratica del 2014 e' fortemente a pendenza negativa.... in contro-tendenza
a tutti gli altri fenomeni oggettivi che stanno crescendo a ritmi molto importanti.
2798  Local / Italiano (Italian) / Re: [IMPORTANTE] Gli exchange e la riserva frazionaria on: February 05, 2015, 01:32:44 AM
Un grande ringraziamento ad acquafredda per la traduzione in inglese dell'articolo.

https://bitcointalk.org/index.php?topic=945881.0
2799  Local / Italiano (Italian) / Re: [IMPORTANTE] Gli exchange e la riserva frazionaria on: February 05, 2015, 01:30:26 AM
Prima di tutto grazie bianchi trovo molto interessante ed in parte condivisibile il tuo articolo, quello che non trovo condivisibile è il tuo continuo voler ripetere di non tenere i soldi sugli exchenge. Tralasciando la parte sulla sicurezza che ovviamente la storia insegna essere ineccepibile mi vorrei soffermare su quello che mi è sembrato essere il tuo discorso, ovvero lasciare soldi sugli exchange porta all'inflazione della moneta. Ebbene quello su cui non sono d'accordo è semplicemente la visione negativa dell'inflazione, mi spiego meglio. Supponiamo che io sia un grande speculatore ed abbia intenzione di effettuare un ingente acquistato di btc, ora come è noto essendo un grande investitore ho una liquidità che mi permette di manipolare in una certa quantità il prezzo, e decido per tanto di inserire nel mercato una certa quantità di btc per cercare di far partire un trend negativo, ebbene in questo caso il fatto di avere in giro il doppio dei btc da me inseriti non pensate possa essere un vantaggio per me?

Direi che dobbiamo suddividere i problemi

1) Posso condividere con te il fatto che l'inflazione non sia necessariamente un fatto negativo, pero' se noti io sottolineo la non consapevolezza,
ossia io e (e penso molti altri)  ho sempre considerato implicitamente il mondo bitcoin un mondo a bassissima inflazione e destinato ad arrivare ad un'inflazione zero.
Questo e' il messaggio che ci arriva dappertutto, ogni documento ufficiale da per assodato questo concetto.
Ora se scopro che in realta' sto lavorando in un mondo che ha un'inflazione X non nota, penso che debbo esserne consapevole e regolarmi di conseguenza.

2) QUesta inflazione X non solo non e' nota, ma puo' venire gestita in modo totalmente incontrollato dagli exchange... altro fattore
importante.... sopratutto per tutti gli operatori che stanno lavorando e investendo risorse in questo ecosistema. Ribadisco, non e' tanto
"l'inflazione" l'imputato, ma l'informazione "errata"che stiamo lavorando in un mondo a bassissima inflazione.

Ti faccio un esempio banale, ragionamento di un sacco di gente in giro per il forum:  holdo fino alla morte, tanto non essendoci inflazione, prima o poi
il prezzo va alle stelle.... peccato che l'assunto della non inflazione possa essere sbagliatissimo.

Altra cosa che ritengo gravissima, (che evidenzio spesso) e' la concorrenza super-sleale che possono fare gli exchange ai miner:
I miner creano BTC a costi altissimi, gli exchange possono "crearne" praticamente a costo nullo.... ora se  una situazione del genere non viene
regolamentata o almeno resa trasparente, giocoforza prima o poi qualche meccanismo deve saltare, mettendo a rischio l'intero ecosistema.

Insomma, ancora una volta, si tratta di un problema di consapevolezza, e non di una demonizzazione a priori dell'inflazione.
Pero', fino a che la consapevolezza non c'e', fino a che gli exchange non sono regolamentati o meglio ancora sostituiti da un meccanismo p2p,
io credo che l'unica soluzione praticabile sia minimizzare la possibilita' di creare moltiplicatore.

3) se uno e' uno speculatore, non ha (per definizione) alcun interesse al destino del bene su cui specula. Potrebbero essere
patate, schiavi, oro, BITCOIN, per lo spculatore l'unico interesse e' tirarci fuori un guadagno. Poi che il bene sottostante alla speculazione
vada in malora o proliferi, gli e' totalmente indifferente. Quindi la speculazione e' una sorta di sfruttamento parassitario
di un bene o una situazione.

Credo di essere un tipo pratico, quindi sono il primo a credere che l'idea di annullare la speculazione sia una gran cazzata.
pero' penso che la speculazione vada "limitata" il piu' possibile, proprio per evitare che da fenomeno parassitario inevitabile,
diventi una malattia nefasta e distruttiva. Quindi, di nuovo, per tutti quelli che hanno un interessere "reale" al fatto che l'ecosistema bitcoin
cresca e non muoia, e'  importante limitare al massimo meccanismi che potenzialmente possono alimentare in modo incontrollato
"parassita" della speculazione e trasformarlo in un  "cancro incurabile".

2800  Bitcoin / Bitcoin Discussion / Re: BTC Exchanges: their functioning and their way of using a fractional-reserve on: February 04, 2015, 06:36:49 PM
reserved
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