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Author Topic: Current bitcoins in "circulation"  (Read 6856 times)
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March 12, 2012, 07:17:22 PM
 #1

I know how many have actually been mined, but I assume that many have been lost in the early days, and many other have been cold stored for so long that they are basically not in circulation.

I would consider the quantity of coins in circulation be the sum of the balances in all addresses that have been either on the sending or receiving end of a transaction in the last 365 days.

I guess I could write up a script that could figure this out, but does anyone already have a rough calculation that is similar to what I am aiming for?

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Stephen Gornick
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March 12, 2012, 08:01:36 PM
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Related:
 - http://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed

And a coin age and velocity chart is here:
 - http://ecdsa.org/stats.html

A chart that shows simply what you describe would be useful though.  Though it can easily be manipulated which is a vulnerability that BitcoinDays Destroyed also has limiting its usefulness. 

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March 13, 2012, 08:46:17 AM
 #3

http://blockchain.info/charts/bitcoin-days-destroyed-min-year

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March 13, 2012, 09:46:33 AM
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I would consider the quantity of coins in circulation be the sum of the balances in all addresses that have been either on the sending or receiving end of a transaction in the last 365 days.

Or maybe better the total of all transaction outputs from the last 365 days which aren't yet redeemed.

I could have a million BTC in an address that hasn't been touched for 2 years, and then add 10 BTC to it today.  That shouldn't add a million and ten to the "in circulation" number; it should just add 10 BTC.

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March 13, 2012, 08:58:49 PM
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I would consider the quantity of coins in circulation be the sum of the balances in all addresses that have been either on the sending or receiving end of a transaction in the last 365 days.

Or maybe better the total of all transaction outputs from the last 365 days which aren't yet redeemed.

I could have a million BTC in an address that hasn't been touched for 2 years, and then add 10 BTC to it today.  That shouldn't add a million and ten to the "in circulation" number; it should just add 10 BTC.

My assumption is that if you have an address that is accumulating coins, the address is still hot - the million could come out of it at any time, otherwise you wouldn't allow about $50 of value to end up in it.

I am looking to remove from the quantity of bitcoins all coins that are either lost, or tucked so far away that they shouldn't even be counted. If you take that figure, and multiply by the current exchange rate, you can get a rough true value of the bitcoin economy.


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March 13, 2012, 09:04:21 PM
 #6

Days destroyed doesn't seem to really get at what I am looking for:

"
If someone has 100BTC that they received a week ago and they spend it then 700 bitcoin days have been destroyed. If they take those 100BTC and send them to several addresses and then spend them then although the total transaction volume could be arbitrarily large the number of bitcoindays destroyed is still 700."

I would just count that as 100BTC in circulation. In fact, if it came or went from an address that had 200 more BTC available, I would say 300BTC were in circulation. Basically, I am looking for a count of "hot" money.

Bitmessage.org: BM-2cT3oFVj68gugBD5JFvP3qmoBHWXJQ6ZkT
BTC Addr:18AA1hq6DVHn5WuK1fQhr5CdkqeG5Mj2ZL <--did you like my post? Send some encouragement here.
Print bitcoin bills: http://print.printcoins.com/
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March 13, 2012, 10:50:50 PM
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I can tell you I've lost 4btc (Coins I've mined) since last year (hdd corruption, formatting without thinking about the wallet). :+ My bad.
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March 13, 2012, 11:08:51 PM
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*cries*

All of your Bitcoin belong to Satoshi..
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March 14, 2012, 02:45:57 AM
 #9

I bet you  100k BTC

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