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Topic: 78 percent of Bitcoin currency stashed under digital mattress, study finds (Read 2326 times)

legendary
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Merit: 1003
This thread duplicates this thread (discussion of paper) and this thread (discussion of Ars article).


And with that, I'm locking it.
legendary
Activity: 1596
Merit: 1100
This thread duplicates this thread (discussion of paper) and this thread (discussion of Ars article).
legendary
Activity: 1386
Merit: 1004
Where is this concrete data on lost coins?

There will never be concrete data on lost coins.  It is a guess.  Even when someone says they lost coins we do not know that to be true.  Every single bitcoin ever created could move again, it is just very unlikely. 

There are many people who created coins and forgot about them and in the end lost the wallets.  There are others who lost coins due to mistakes such as wiping drives or cloud knowledge failures. 

hero member
Activity: 798
Merit: 1000
Where is this concrete data on lost coins?
legendary
Activity: 1386
Merit: 1004
Does it also discount "lost" coins? Of which if I remember, there are about 2 million.

From what I read they are counting lost coins as 'stashed' or 'horded' as well.  Considering that the lost and 'stashed' coins add up to nearly half, that means that the other half is generally in use.  Basically the report draws some pretty flawed conclusions from good data.
full member
Activity: 147
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Does it also discount "lost" coins? Of which if I remember, there are about 2 million.

They did not say so i'm assuming it does not.
legendary
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RUM AND CARROTS: A PIRATE LIFE FOR ME
Does it also discount "lost" coins? Of which if I remember, there are about 2 million.
full member
Activity: 147
Merit: 100
On the other hand if everybody just kept moving their coins to different addresses everyday that would show an artificial movement of money.
full member
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might just be cold storage of a service and a custodian for many many clients and their balances deposited with that service.

btcsl?
legendary
Activity: 1078
Merit: 1003
No, it's not accurate because it's based on a flawed premise that coins not moving for a long time are owned by a small minority ignoring that this small minority might just be cold storage of a service and a custodian for many many clients and their balances deposited with that service.
legendary
Activity: 883
Merit: 1005
 Lips sealed
http://arstechnica.com/tech-policy/2012/10/78-percent-of-bitcoin-currency-stashed-under-digital-mattress-study-finds/
Is this report accurate and how mite this affect price swings?

And why would some one try to hide owner ship of an account like they one that showed up in the report.

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