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Author Topic: 790 people own half the bitcoins  (Read 5162 times)
rpietila
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January 28, 2014, 12:46:06 PM
 #1

The number of bitcoin holders has just surpassed 2 million mark! The growth is happening in the smaller holdings.

note: This is NOT based on blockchain analysis but is an independent methodology!!

Methodology and discussion of 27 Jan results.


27. Jan 2014

#People#Bitcoins#TotalBitcoins
46BTC10k+3.6M
820BTC1k-10k2.4M
10kBTC100-1k2.8M
68kBTC10-1002.0M
250kBTC1-100.8M
550kBTC0.1-10.2M
690kBTC0.01-0.10.0M
430kBTC0.001-0.010.0M

Total: 11.8M bitcoins (0.5M bitcoins assumed lost)

There is less holders than before in the category of BTC70+. The number of holdings smaller than this increased.

The number of bitcoin millionaires, previously estimated 930, decreased to 790 (-15%). Their combined wealth is 5.9M bitcoins, which is 50% of all bitcoins.




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January 28, 2014, 02:01:49 PM
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Total: 11.8M bitcoins (0.5M bitcoins assumed lost)

There is less holders than before in the category of BTC70+. The number of holdings smaller than this increased.

The number of bitcoin millionaires, previously estimated 930, decreased to 790 (-15%). Their combined wealth is 5.9M bitcoins, which is 50% of all bitcoins.


Speculation not profitable?
rpietila
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January 28, 2014, 02:30:36 PM
 #3

What is interesting that during the downtrend, Bitcoin usercount has grown by 66%.

(Bitcoin's organic growth rate is 53% per 2 months, however)
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January 28, 2014, 02:43:26 PM
 #4

The number of bitcoin holders has just surpassed 2 million mark! The growth is happening in the smaller holdings.

note: This is NOT based on blockchain analysis but is an independent methodology!!

Methodology and discussion of 27 Jan results.


27. Jan 2014

#People#Bitcoins#TotalBitcoins
46BTC10k+3.6M
820BTC1k-10k2.4M
10kBTC100-1k2.8M
68kBTC10-1002.0M
250kBTC1-100.8M
550kBTC0.1-10.2M
690kBTC0.01-0.10.0M
430kBTC0.001-0.010.0M

Total: 11.8M bitcoins (0.5M bitcoins assumed lost)

There is less holders than before in the category of BTC70+. The number of holdings smaller than this increased.

The number of bitcoin millionaires, previously estimated 930, decreased to 790 (-15%). Their combined wealth is 5.9M bitcoins, which is 50% of all bitcoins.






Well with the current prices its kind of natural that small holders will increase since it's a lot more expensive now.

Good list btw

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January 28, 2014, 03:03:17 PM
 #5

So, way less than 10k people are Bitcoin richer than me Cheesy

Though this analysis is not completely true as many people, as I do, have Bitcoins in multiple wallets, exchanges etc..

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January 28, 2014, 03:05:29 PM
 #6

Though this analysis is not completely true as many people, as I do, have Bitcoins in multiple wallets, exchanges etc..

Yeah, I have Bitcoin in Bitstamp, Kraken, Bitcoin Qt, Cryptsy, Primedice, and Dgex.
rpietila
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January 28, 2014, 05:26:17 PM
 #7

So, way less than 10k people are Bitcoin richer than me Cheesy

That holds true for most of the forum frequents Smiley

Quote
Though this analysis is not completely true as many people, as I do, have Bitcoins in multiple wallets, exchanges etc..

note: This is NOT based on blockchain analysis but is an independent methodology!!
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January 28, 2014, 06:45:20 PM
 #8

All of that was taken into consideration, as was the Pareto Principle, similarity to buyers of silver, etc.  Trust me, we went at this thing from as many angles as we could think of.  I, for one, believe it to be pretty accurate given that we kept coming up with similar numbers from different angles.

1BitcHiCK1iRa6YVY6qDqC6M594RBYLNPo
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January 28, 2014, 06:53:31 PM
 #9

It'll even itself out over time. At least those 790 people can't print more Bitcoins at will.  Cheesy



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January 28, 2014, 10:47:04 PM
 #10

Interesting and probably accurate within 10-20%, but there are more 10-100 BTC owners for sure.
17BTC wallet ranks at 81K at http://btc.ondn.net/search, but should have rank significantly less than ~78K according to the table.
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January 28, 2014, 10:53:51 PM
 #11

checking bitcoinrichlist.com/top100 positions 80 (also maybe 79) to 98 have the same last transaction in on Dec 25, 2013 11:26:40 PM. Each address holds about 10,000 coins.

So somebody owns about 180,000 coins = $145,800,000

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January 29, 2014, 12:11:17 AM
 #12

checking bitcoinrichlist.com/top100 positions 80 (also maybe 79) to 98 have the same last transaction in on Dec 25, 2013 11:26:40 PM. Each address holds about 10,000 coins.

So somebody owns about 180,000 coins = $145,800,000

Probably ArtForz, that dirty bugger.
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January 29, 2014, 12:28:02 AM
 #13

checking bitcoinrichlist.com/top100 positions 80 (also maybe 79) to 98 have the same last transaction in on Dec 25, 2013 11:26:40 PM. Each address holds about 10,000 coins.

So somebody owns about 180,000 coins = $145,800,000

Someone is trolling the top addresses by sending .000666 coins to them.

It certainly does not mean that each of those addresses are controlled by the same individual.

LOL.

If you aren't the sole controller of your private keys, you don't have any bitcoins.
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January 29, 2014, 12:40:43 AM
 #14

checking bitcoinrichlist.com/top100 positions 80 (also maybe 79) to 98 have the same last transaction in on Dec 25, 2013 11:26:40 PM. Each address holds about 10,000 coins.

So somebody owns about 180,000 coins = $145,800,000

Probably ArtForz, that dirty bugger.

Or not, don't generated unspent blocks all have their own address and are untraceable as long as they aren't spent?
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January 29, 2014, 02:02:36 AM
 #15

the bitcoin wealth distribution will decrease as the value of each bitcoin goes up. This is because money has marginal utility like anything else does. It's why billionaires become philanthropists. When you have far more of something than you need, each unit of that thing becomes less valuable than the previous unit.  If you have everything in the world that you want except a good reputation, you will likely trade your money for a good reputation, even if you think it's being more productively used where it's at. It's called sanitizing your wealth and it's the smart move to protect yourself from envious people.

insert coin here:
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January 29, 2014, 02:11:33 AM
 #16

0.5m BTC lost is VERY conservative imo. I think it's way greater than that (4m+).
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January 29, 2014, 08:21:48 AM
 #17

Quote
There is less holders than before in the category of BTC70+. The number of holdings smaller than this increased.

Did you think about those people wanting to spread their money on different exchanges, wallets (offline and online, for hodling and spending/exchanging/trading) plus people mining, having coins on a pool? I did spread my coins pretty much but dont own any less

Hai
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January 29, 2014, 08:34:14 AM
 #18

checking bitcoinrichlist.com/top100 positions 80 (also maybe 79) to 98 have the same last transaction in on Dec 25, 2013 11:26:40 PM. Each address holds about 10,000 coins.

So somebody owns about 180,000 coins = $145,800,000

Someone is trolling the top addresses by sending .000666 coins to them.

It certainly does not mean that each of those addresses are controlled by the same individual.

LOL.

I think that was the guy who claimed to have tracked down the Sheep Marketplace thief, but he had actually found a BTC-e wallet instead.

He thought that sending 666 satoshis to his wallet would mean that mixers don't work anymore.
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January 29, 2014, 08:50:10 AM
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the bitcoin wealth distribution will decrease as the value of each bitcoin goes up. This is because money has marginal utility like anything else does. It's why billionaires become philanthropists. When you have far more of something than you need, each unit of that thing becomes less valuable than the previous unit.  If you have everything in the world that you want except a good reputation, you will likely trade your money for a good reputation, even if you think it's being more productively used where it's at. It's called sanitizing your wealth and it's the smart move to protect yourself from envious people.

World'st richest 85 people hold as much wealth as the poorest 3.5 billion - so your theory doesn't exactly apply to the real world. Also its much easier to grow your stash when you have shitloads of capital and the power/connections that come with it...

145ZvkNef1TNPdDcGVperop1v574VSdZ9X
rpietila
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January 29, 2014, 09:15:21 AM
 #20

the bitcoin wealth distribution will decrease as the value of each bitcoin goes up. This is because money has marginal utility like anything else does. It's why billionaires become philanthropists. When you have far more of something than you need, each unit of that thing becomes less valuable than the previous unit.  If you have everything in the world that you want except a good reputation, you will likely trade your money for a good reputation, even if you think it's being more productively used where it's at. It's called sanitizing your wealth and it's the smart move to protect yourself from envious people.

World'st richest 85 people hold as much wealth as the poorest 3.5 billion - so your theory doesn't exactly apply to the real world. Also its much easier to grow your stash when you have shitloads of capital and the power/connections that come with it...

The current world elite is asinine and corrupt. Let's hope for a moment that bitcoin would rise to high value so quickly that many of the coins would still be in hands of the enlightened people.. even then we would not see that they willingly give up much of their wealth. Why should they, since surely they are the best guardians of their own money??

People only give out wealth during their lifetime if they think that the recipient can better utilize it. The reason that old, rich people put their money in foundations, is to ensure that it will be used for their favorite causes after death. The children would often see the world differently.

A positive thing with "greedy" high-balance holders is that bitcoins are valuable. Without them, the value would plummet to the level of altcoins.

The more valuable bitcoin is regarded by the rich, the more pricey it is, which means that everything denominated in bitcoins is cheap and get cheaper. This is how it should be and currently bitcoin is doing fine.

I don't expect that the number of people holding 50% of the bitcoins issued would go up significantly. These guys know what they do, and it is possible to buy yourself among them for $1M, which is chump change.
 


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