Bitcoin Distribution of Wealth Detailing the BTC Holdings of Wallet Addresses

Farmer17

hero member

Activity: 674

Merit: 500

Quote from: keithers on May 03, 2014, 03:31:33 AM

anyone have an updated chart?

As dscotese suggested, the site (http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address) provides an updated chart every 5000 blocks, and the latest one would be at block 295000 (Apr 9).

Or you can see the daily data on the following site.

Quote from: klmist on March 17, 2014, 12:13:57 PM

Quote from: Alley on March 15, 2014, 07:09:05 PM

Very interesting chart! Where did it come from? It would be nice to see a new chart every month to see how wallet distribution is changing.

You can see it daily at http://www.klmist.com/keysreport.html

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: BunsenBurner on May 03, 2014, 02:26:53 AM

Quote from: franky1 on May 03, 2014, 02:17:37 AM

you are going to see the number of sub 0.001 wallets increase to hundreds of millions.. purely due to merchants that implement 'use once' addresses.

Shouldn't the merchants (or coinbase/bitpay if merchants use them) "consolidate" the btc?

Im sure they will once they feel there is enough value in doing so, anyone have an updated chart?

BunsenBurner

hero member

Activity: 653

Merit: 500

Quote from: franky1 on May 03, 2014, 02:17:37 AM

you are going to see the number of sub 0.001 wallets increase to hundreds of millions.. purely due to merchants that implement 'use once' addresses.

Shouldn't the merchants (or coinbase/bitpay if merchants use them) "consolidate" the btc?

franky1

legendary

Activity: 4214

Merit: 4458

you are going to see the number of sub 0.001 wallets increase to hundreds of millions.. purely due to merchants that implement 'use once' addresses.

these millions of addresses wont tell you how many people have any coin. or how many of the addresses belong to how many bitcoin merchants. thus useless trying to analyze it for any useful info/statistic

thus the topic title
"Bitcoin Distribution of Wealth Detailing the BTC Holdings of Wallet Addresses" is erroneous

BunsenBurner

hero member

Activity: 653

Merit: 500

Quote from: dscotese on May 03, 2014, 01:33:45 AM

Quote from: bryant.coleman on May 03, 2014, 12:24:38 AM

Hmm... So there are two wallets which contains more than BTC100,000. The first one might be the DPR wallet (Silk Road) which was seized by the FBI. Which is the second one? Any exchange hot-wallet?

There were two, but now there's only one.

The chart is always available at http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address

You can view the past by adding ?atblock=(BLOCK NUMBER) to the URL.

I am not interested in the distribution itself, but in seeing the wallet sizes whose proportion of bitcoin grows or shrinks. The distribution is largely opaque in terms of useful info for the reasons CryptoDomains mentioned, but the changes over time are telling.

There are 31,601,626 holding less than or than 0.001 at at Block 295,000. That is a bit surprising.

dscotese

sr. member

Activity: 444

Merit: 250

I prefer evolution to revolution.

Quote from: bryant.coleman on May 03, 2014, 12:24:38 AM

Hmm... So there are two wallets which contains more than BTC100,000. The first one might be the DPR wallet (Silk Road) which was seized by the FBI. Which is the second one? Any exchange hot-wallet?

There were two, but now there's only one.

The chart is always available at http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address

You can view the past by adding ?atblock=(BLOCK NUMBER) to the URL.

I am not interested in the distribution itself, but in seeing the wallet sizes whose proportion of bitcoin grows or shrinks. The distribution is largely opaque in terms of useful info for the reasons CryptoDomains mentioned, but the changes over time are telling.

bryant.coleman

legendary

Activity: 3654

Merit: 1217

Quote from: keithers on May 03, 2014, 12:30:00 AM

Is it possible that it is one of the "missing" Gox wallets?

No. The wallet which was labelled as the stolen gox coins was later found out to be the centralized wallet of some Bitcoin mining pool. Also, the Gox thief never kept all the coins in a single wallet.

franky1

legendary

Activity: 4214

Merit: 4458

what i mean to say is that PEOPLE owning 10,000-100,000 bitcoins are not all holding their hoard in a sole address purely for them.

infact i bet that atleast 80 of the 96 addresses in that category are cold store for exchanges. where the 10k+ addresses are all mixed coins of many users stored offline.

the other 16 will b people like early adopters (2009 era) that never touched their hoard.

and as for the 2 million addresses with small amounts in them. i presume they are deposit addresses for customers that are using services.

in short the numbers in the OP are meaningless unless you put them into context. there are not 96 super rich people that have there whole hoard in one address. and there are not over 2 million people with only 0.0001 to their name

CryptoDomains

full member

Activity: 159

Merit: 100

Forgot about this thread.

Firstly even if a handful are exchanges, it makes little impact over all.

Secondly if Satoshi had his heart in the right place or where everyone wants you to believe he did, he would slowly sell off his coins at market prices and help distribute. Not give away, not impact prices but a slow steady market sell out. Why one individual would need so many bitcoin is not justifiable. Priee up or down it doesn't matter, you hoard for one reason maybe two, it's MINE or that will be worth more one day and thus wanting more riches. But riches of what, fiat because at this rate of distribution it will not become fully integrated enough to enjoy billions of bitcoin worth.

He isn't doing this, why, my thinking is it isn't their plan. This group of top account holders, government or mad men are hoarding for a reason, control!

Ill play the market, have fun and ride it while it lasts but end of day, there needs to be change and soon or it may be one of the biggest booms and busts in tech we read about.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: bryant.coleman on May 03, 2014, 12:24:38 AM

Hmm... So there are two wallets which contains more than BTC100,000. The first one might be the DPR wallet (Silk Road) which was seized by the FBI. Which is the second one? Any exchange hot-wallet?

Is it possible that it is one of the "missing" Gox wallets?

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: dscotese on May 03, 2014, 12:22:19 AM

I like to track this distribution. 30.63% of all bitcoins were in addresses with between 1 and 100 bitcoins on 2/6/14. Today, 5/2/14, 31.58% are in addresses with between 1 and 100 btc in them. So they are slowly getting dispersed into addresses with lower balances.

Would you happen to have an updated graph? I am curious to see how the wealth has shifted around in the past few months. My default assumption is that when the prices crashed recently, most of the small holders panic sold, whereas the larger holders scooped up more...

bryant.coleman

legendary

Activity: 3654

Merit: 1217

Hmm... So there are two wallets which contains more than BTC100,000. The first one might be the DPR wallet (Silk Road) which was seized by the FBI. Which is the second one? Any exchange hot-wallet?

dscotese

sr. member

Activity: 444

Merit: 250

I prefer evolution to revolution.

I like to track this distribution. 30.63% of all bitcoins were in addresses with between 1 and 100 bitcoins on 2/6/14. Today, 5/2/14, 31.58% are in addresses with between 1 and 100 btc in them. So they are slowly getting dispersed into addresses with lower balances.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: odolvlobo on March 17, 2014, 06:15:18 PM

Quote from: Alley on March 17, 2014, 02:26:34 PM

To me it tells me I'm still an early adopter. Im in the richest 1% and only 100k or less people have more btc then me. And I only bought 10 btc for fun.

You don't know that. You are looking at statistics for addressess, and not people. Because a single address can hold bitcoins for multiple people and a single person can control many addresses, All you know is that there must be less than 1.25 million people (12.5 MBTC / 10) with more bitcoins than you.

Your Bitcoins	Maximum Number of People With More Bitcoins Than You
1	12,500,000
10	1,250,000
100	125,000
1,000	12,500
10,000	1,250
100,000	124
1,000,000	11
10,000,000	0

Yes, that is true, but even holding 10 btc is a pretty decent sized holding given how many bitcoins are actually in circulation in comparison to the world's population. There aren't even enough bitcoins for each person in my state to have just one

odolvlobo

legendary

Activity: 4298

Merit: 3209

Quote from: Alley on March 17, 2014, 02:26:34 PM

To me it tells me I'm still an early adopter. Im in the richest 1% and only 100k or less people have more btc then me. And I only bought 10 btc for fun.

You don't know that. You are looking at statistics for addressess, and not people. Because a single address can hold bitcoins for multiple people and a single person can control many addresses, All you know is that there must be less than 1.25 million people (12.5 MBTC / 10) with more bitcoins than you.

Your Bitcoins	Maximum Number of People With More Bitcoins Than You
1	12,500,000
10	1,250,000
100	125,000
1,000	12,500
10,000	1,250
100,000	124
1,000,000	11
10,000,000	0

Alley

legendary

Activity: 910

Merit: 1000

To me it tells me I'm still an early adopter. Im in the richest 1% and only 100k or less people have more btc then me. And I only bought 10 btc for fun.

keithers

legendary

Activity: 1456

Merit: 1001

This is the land of wolves now & you're not a wolf

Quote from: Alley on March 15, 2014, 07:09:05 PM

Very interesting chart! Where did it come from? It would be nice to see a new chart every month to see how wallet distribution is changing.

I found it on one of the financial webpages. I should have sourced it, but I forgot to when I posted it, and now I don't remember where I got it. I definitely did not crunch the numbers myself...

double.o

newbie

Activity: 4

Merit: 0

This is an interesting topic, I am just not convinced that BTC's wealth distribution is going to be problematic in the years ahead, the full explanation is here:

http://bitcoinreflections.com/2014/02/wealth-distribution-and-bitcoin/

thx

misterbigg

legendary

Activity: 1064

Merit: 1001

It seems that while we are focusing on the asymmetric distribution of bitcoin, everyone is ignoring the histogram that shows the distribution of population size relative to their overall contributions to the quality of life and standard of living of others.

klmist

newbie

Activity: 35

Merit: 0

Quote from: Alley on March 15, 2014, 07:09:05 PM

Very interesting chart! Where did it come from? It would be nice to see a new chart every month to see how wallet distribution is changing.

You can see it daily at http://www.klmist.com/keysreport.html

Topic: Bitcoin Distribution of Wealth Detailing the BTC Holdings of Wallet Addresses (Read 5629 times)