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Author Topic: Unspent coins  (Read 1351 times)
casascius
Mike Caldwell
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The Casascius 1oz 10BTC Silver Round (w/ Gold B)


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June 13, 2011, 05:14:21 AM
 #1

Does anyone know a good way to tell how many coins are still in their original generation blocks and have never been spent?  Thanks in advance.

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
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June 13, 2011, 08:18:41 AM
 #2

Everybody knows, but nobody extracted the information. Read the blockchain!

Misspelling protects against dictionary attacks NOT
theymos
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June 13, 2011, 09:47:13 AM
 #3

There's 47968 unspent generations right now.

Probably I'll make a page on Bitcoin Block Explorer where you can get this info.

1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
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June 13, 2011, 11:22:22 AM
 #4

unfinishe's tool to list unredeemed transactions might be interesting too.
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June 13, 2011, 11:34:20 AM
 #5

lol... 47968 times 50 BTC? The completely unspent coins are massive compared to the amount traded!

Remember that volume shows frequently traded coins multiple times. I wonder why so many coins aren't used at all -- and what must happen to get them moving.
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June 13, 2011, 11:48:58 AM
 #6

You have to think, depending on the age of some of those blocks, that many have been lost to hard drives formatted when bitcoins were of no substantial value.

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June 13, 2011, 11:54:04 AM
 #7

lol... 47968 times 50 BTC? The completely unspent coins are massive compared to the amount traded!

Remember that volume shows frequently traded coins multiple times. I wonder why so many coins aren't used at all -- and what must happen to get them moving.

It doesn't really matter, even if people lose their wallets.

Ultimately, the value of a bitcoin is the amount people are willing to pay for them and  the amount people are willing to sell them at any given time.

Anonymous Cash-By-Mail Exchange: https://www.bitcoin2cash.com
1H6mqgB6UcqKt2SrCmhjxUp9np1Xrbkdj7
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June 13, 2011, 11:56:12 AM
 #8

lol... 47968 times 50 BTC? The completely unspent coins are massive compared to the amount traded!

Remember that volume shows frequently traded coins multiple times. I wonder why so many coins aren't used at all -- and what must happen to get them moving.

It doesn't really matter, even if people lose their wallets.

Ultimately, the value of a bitcoin is the amount people are willing to pay for them and  the amount people are willing to sell them at any given time.

But the more bitcoins there are on sale, the less people will pay for them.

Misspelling protects against dictionary attacks NOT
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June 13, 2011, 12:42:10 PM
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lol... 47968 times 50 BTC? The completely unspent coins are massive compared to the amount traded!

Remember that volume shows frequently traded coins multiple times. I wonder why so many coins aren't used at all -- and what must happen to get them moving.

It doesn't really matter, even if people lose their wallets.

Ultimately, the value of a bitcoin is the amount people are willing to pay for them and  the amount people are willing to sell them at any given time.

But the more bitcoins there are on sale, the less people will pay for them.

Its supply and demand, my friend. If more of them are on sale, the supply increase, price drops. If less on sale, supply declines, price rises.

At the end of the day the ultimate, "invisible hand" moving the market is the amount of bitcoins for sale and being purchased at any given point.

The important thing to remember is that bitcoins are divisible by 8 places. So even a very high bitcoin price can be sustained without stifling use of the bitcoins.

Anonymous Cash-By-Mail Exchange: https://www.bitcoin2cash.com
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June 13, 2011, 11:35:30 PM
 #10

@theymos : That's good info. But how many of those are recent blocks, ie. > Jan-2011?
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June 13, 2011, 11:42:31 PM
 #11

BitCoin Days Destroyed, from the Official Wiki

I asked a similar question, and referred to them as Dark BitCoins Here. - please note that the Wiki's chart is very old, and it's not updated, as discussed in my thread.
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June 14, 2011, 01:18:24 AM
 #12

Don't forget, pools have muscled in. There's likely a TON of coins that only ever have one transaction: generation->pool->owner.
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