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Author Topic: What Country Has Most Of The Bitcoins?  (Read 6392 times)
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June 12, 2016, 04:49:01 PM
 #41

What I wanted to know is if the governments are holding and trading the large amounts of bitcoin or ordinary people, because with
This difficulty for mining I doubt people like you and me be able to have a saying in  crypto world any more, wouldn't you agree?

Yes, I think that some ordinary peoples and big corporations mainly. Mining will increasingly narrow and centralized.
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June 12, 2016, 05:25:08 PM
 #42

When i look at localbitcoins.com 50% of the traders are from USA and 50% from all other countries.

I think most of the big bitcoin buyers are from USA and the other tier 1 countries like UK,Australia,Canada,New

Zealand, which makes sense...


I don't think we should draw result seeing at trader count only in localbitcoin. As we know much of the mining farms are in china and lots of buying volume are coming from chinese exchangers i think chinese and american may have around same amount of bitcoin.

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June 12, 2016, 10:00:23 PM
 #43

With about moving coins I would say USA but who has it and is holding it in massive amounts: I would say China.
They are very careful when it comes to anything to do with money and does anything that is possible to not let a coin get missed. You heard of chinese elderly hiding their money from the government under their mattresses right?
Same thing with their offspring when it comes to bitcoins.




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June 12, 2016, 10:10:24 PM
 #44

I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.

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June 12, 2016, 11:53:47 PM
 #45

I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.

Yeah, China definietly has the majority of the coins because they have a ton of miners and miners generate bitcoins out of thin air with their equipment Tongue But I think the majority of the population doesn't even know about bitcoins.

Whatever country satoshi is from, has the most BTC.
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June 13, 2016, 12:12:22 AM
 #46

Hmmm... My guess is also China. However, bitcoin is a global currency so there is no point of saying which country owns more... The government of that country will never know how much its citizen own.

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June 16, 2016, 10:55:13 AM
 #47

If I was the president of a country, I would start buying Bitcoin instead of buying debt. I would default, I don't care about defaulting in a dead currency like every fiat on the planet, so I would just become a Bitcoin mogul.




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June 16, 2016, 11:20:44 AM
 #48

I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.

Do you have any proof for this 90% figure? I would agree that China is one of the leaders in Bitcoin mining... but this 90% figure seems to be just exaggeration. It is more likely to be somewhere around 30% or 40%. In other countries also, there are mining farms. China is not the only country with mega mining businesses.

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June 16, 2016, 09:42:16 PM
 #49

This just came to my mind: what happens if every single one of the devices capable for mining bitcoin in the world start to mine bitcoin?
difficulty still going to change accordingly? and no matter what we do rest of the bitcoins still to be mined will take 100 years?
If so then in this way only those who started mining early are the ones most profiting and the price will definitely goes to the moon.

Sorry if this post is not relative much to the topic.

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June 17, 2016, 12:31:10 AM
 #50

I vote for USA. A few million coins had already been mined before bitcoin got noticed by anyone. The idea spread on english language lists and boards and most of the early bitcoin figures were american. china makes most of the coins now but maybe they're selling them directly to deep pockets in the west too.
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June 17, 2016, 01:35:04 AM
 #51

I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.

Do you have any proof for this 90% figure? I would agree that China is one of the leaders in Bitcoin mining... but this 90% figure seems to be just exaggeration. It is more likely to be somewhere around 30% or 40%. In other countries also, there are mining farms. China is not the only country with mega mining businesses.


Current mining pools stats indicate that China has some 72% of the "hashrate" which I imagine would correlate very closely with BTC winnings of each miner.

F2Pool: 23%
AntPool: 21%
BTCC Pool: 14%
BW.COM: 11%
HaoBTC: 3%

Total Chinese pools: 72%

https://blockchain.info/pools

OK, I would guess that some Americans (and others) may have their hardware grinding away with some of these, but if I had to guess I would think that the majority (probably by far) of BTC production (by Chinese citizens) would be well over 50% of that 72%.  Europe also is mining BTC, so what is left for the USA would be well under 50% of current production.

But as someone above mentioned, a lot of BTC was mined in the years before it caught on big.

So, the USA and China having roughly the same BTC "held" would be about equal.
WaffleMaster
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June 17, 2016, 01:42:31 AM
 #52

I think that in China who mining the 90% of all bitcoin nowdays, it's make sense cause the best proof is statistics. But i maybe somewhere people saving more coins.
Unless there are people from way back at the birth of bitcoin that held onto their wallets and have the thousands of coins that were pennies once still in there then I would say China. And also there have been big seizures from criminals that are auctioned off by the government so the buyers of those are also pretty big blips on the map wherever they are.
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June 17, 2016, 02:01:24 AM
 #53

I honestly find this difficult to say but I think china is because they are buying massive and all these chinese people want to have some bitcoin these days..
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June 17, 2016, 02:12:07 AM
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Without any doubts china has the most bitcoins they are having a lot of people that are holding bitcoins due to the economical situation over there.
Another fact is that there are a lot of miners over there.
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