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Author Topic: Many addresses have 50 BTC - remember this topic?  (Read 1437 times)
17chk4u
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February 21, 2013, 09:07:13 PM
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About a month ago, there was a discussion that mentioned that there are a TON of addresses that have 50 Bitcoins in them, and that 50 BTC was the most (or second most) common balance (possibly second to 1 satoshi balances).

Can anybody direct me to that thread, or get me the stats on that?

Here are the specific figures I am looking for:

-  How many Addresses have exactly 50 BTC?
-  How many Addresses have received the block award (50 or 25 BTC, plus fees), and have not had any outbound transactions.

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Stephen Gornick
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February 22, 2013, 12:19:54 AM
 #2

Here are the specific figures I am looking for:

-  How many Addresses have exactly 50 BTC?
-  How many Addresses have received the block award (50 or 25 BTC, plus fees), and have not had any outbound transactions.

That metric was pretty much only useful before nearly all of the mining occurred through pools.  Nowadays it is pretty much impossible to know if the payment from the pools to the miners are being saved (hoarded, some refer to it as) or spent.  The pool operators might be able to determine that to some degree since they have visibility into miner payouts but not much of that information hits the blockchain where it can be measured and even so, not even the pool operators know if the withdrawal address is a hosted (shared) EWallet address or a miner's own (local) wallet.

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17chk4u
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February 22, 2013, 09:39:48 AM
 #3

I agree.  But the reason I found it fascinating is that (if i recall correctly), the number of 50BTC addresses was so large - like 40,000 addresses.

40,000 addresses is 2M BTC, or nearly 20% of the mined currency.  It just seemed like a ridiculous amount of cash just sitting there.

So I'm thinking maybe my recollection is incorrect.  Maybe it was 4000 (or 2%)....
Zomdifros
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February 22, 2013, 10:16:28 AM
 #4

About a month ago, there was a discussion that mentioned that there are a TON of addresses that have 50 Bitcoins in them, and that 50 BTC was the most (or second most) common balance (possibly second to 1 satoshi balances).

Can anybody direct me to that thread, or get me the stats on that?

Here are the specific figures I am looking for:

-  How many Addresses have exactly 50 BTC?
-  How many Addresses have received the block award (50 or 25 BTC, plus fees), and have not had any outbound transactions.



It was in the Bitcoin rich list: https://bitcointalk.org/index.php?topic=92423.20

At that moment, there were 40,631 addresses with 50 BTC on it. It was the most common amount, only outnumbered by empty addresses. It would be difficult to determine how many of these are lost forever or still active, because I can imagine many early adopters, including Satoshi himself, never bothered to transfer the bitcoins to other addresses but still own the keys nonetheless.

17chk4u
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February 22, 2013, 01:18:58 PM
 #5

Thank you.  That's exactly what I was looking for.

And especially the original report on Stack Exchange:
http://bitcoin.stackexchange.com/questions/2828/how-many-bitcoin-addresses-are-have-been-carrying-a-balance/2849#2849

Amazing that as of a year ago, over 24% of all bitcoins were held in Addresses of exactly 50 BTC.  I bet most were generated during 2009. As soon as mining pools started, it was probably more rare.
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February 22, 2013, 09:56:37 PM
 #6

Thank you.  That's exactly what I was looking for.

And especially the original report on Stack Exchange:
http://bitcoin.stackexchange.com/questions/2828/how-many-bitcoin-addresses-are-have-been-carrying-a-balance/2849#2849

Amazing that as of a year ago, over 24% of all bitcoins were held in Addresses of exactly 50 BTC.  I bet most were generated during 2009. As soon as mining pools started, it was probably more rare.
to@Chris
It would be nice to see the new statistics

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