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Author Topic: 927 People Own Half of All Bitcions  (Read 5741 times)
jjtech
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December 13, 2013, 10:06:35 PM
 #41

How many per cent of all USD is held by the 900 richest people in USA?

Definitely not 50%. Should be much less than that amount. The richest 1% (somewhere around 2 to 3 million people) hold 42% of the wealth in the USA. So should be somewhere around 10-20%.

I think in reality is LESS than 900. If I were a fortune teller I would say that it's something close to 90%. Some huge banks and hedge funds have its owners and those owners can look deceptively familiar. Cartel owning fiat currencies and its derivatives is very small and narrow. 95% of $330 trillion in derivatives is held by 4-5 banks. And derivatives + 0% interest rates for chosen ones are the most effective way of wealth re-distribution upwards
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December 13, 2013, 11:27:37 PM
 #42

"We ran the calculations by Martti Malmi, one of Bitcoin's earliest developers, and he agreed they were basically sound. "The order of magnitude seems right," he said in an email to BI."

That's the best you could say about a made up number like 927. 

 
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azedee
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December 14, 2013, 08:59:16 AM
Last edit: December 14, 2013, 09:53:26 AM by azedee
 #43

The masses have always complained about the 'bankers' hoarding unmerited wealth at the cost of the small people. Now, they will have 927 new hot targets of unmatched concentration of riches. And since all of it was made purely by pumping and dumping thin air, the bankers, given bitcoin replaces fiat, will look like innocent children. One can already envisage all the new illuminati stories in the next 100 years to come. And boy, they will be big. All the socialist buzzwords, that bitcoin depends on, like 'people's money', will go astray at the first mass crowd's realization that 0,00001% owns 50% of all the assets.
 
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December 14, 2013, 09:32:02 AM
 #44

These articles miss the point.  They're calling addresses people.  This would be the equivalent of saying 90+% of all US dollars are owned by 100 people (probably fewer), because BANKS are the ones holding the dollars for the vast majority of all currency.

A huge number of those stockpiles are likely wallets for exchanges.

this.

please stop posting these bullshit articles that don't understand bitcoins.

addresses != people

Read more: http://www.businessinsider.com/927-people-own-half-of-the-bitcoins-2013-12#ixzz2nD5uj8JZ

I am afraid you are incorrect, but it is not your fault. Almost no one cares to read the original, which the BI article was based on.

Quote
The intent of this thread is to find out and update the statistic on how bitcoins as investment/holdings are distributed according to the size of actual holding (note that this differs from the largest addresses -list).

That is the first sentence in the OP of the thread. Hilarious Smiley
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