Topic: Bitcoin ownership distribution break down (Read 290 times)

I like how you speak for everyone else, when it's really only you and few other villagers that don't see it (or don't want to see it).

Steam announcement: https://steamcommunity.com/games/593110/announcements/detail/1464096684955433613
Fees are unacceptable and it's too slow.

Bitcoin is being replaced in everyday use by Monero because it's more scalable, examples:

https://x.com/shopinbit/status/1811651225005195471
https://x.com/CoinCards/status/1809702144288882870

Bitcoin has been completely replaced on all big DNM's by Monero and the reason was not only privacy (they know how to handle Bitcoin privately) but again the scalability issues.

For the last 6 months Bitcoin is going down:

https://www.tradingview.com/symbols/BTCUSD/
https://www.tradingview.com/symbols/XMRUSD/

It's market dominance has dropped to 55%: https://coin360.com/

The LN savior that suppose to help Bitcoin in scalability is dropping dead due to having it's own scalability problems (not that it's being used):

https://bitcoinvisuals.com/lightning

Bitcoin can't even handle proper L2 solution as it's too congested (proven recently with LN failing at higher Bitcoin usage) so there's really no hope for it ever happening, unless Bitcoin protocol gets a major overhaul which I doubt ever happens.

The solution to all this Bitcoin problems is simple, just use Monero - and this is what people are doing.
Once you go Monero you never go back, there's no reason. Monero is more stable due to real world usage, not being only a speculation vehicle so it's a better store of value.

Scalability is the reason people are switching, not privacy (but it's a nice bonus to have).
If you disagree with any of this, you are not disagreeing with me but with the reality.  

I really don't see any future for Bitcoin.

One more thing... do not quote images, you are unnecessarily spamming the conversation.
@Edit: You're welcome my friend.

It’s important to look beyond just static visuals when talking about Bitcoin distribution, especially since ownership is constantly changing due to market movements. Recent data suggests a real distribution, not accumulation, even by the big holders-let's call them whales. Namely, 10,000 BTC-plus holders that have been divesting themselves uninterruptedly since late 2023. The situation is not different when considering retail participants. More Bitcoins have been sold recently than held. That would go against the idea that Bitcoin holders just sit on the asset forever; ownership dynamics are rather fluid.

Besides this, with only approximately 6.6% of the total supply outstanding in the market to be mined, a pretty sizeable portion of the already minted supply is unreachable, with estimations that as high as up to 29% of all Bitcoin may be lost due to forgotten keys or otherwise. This factoring in of losses impacts the circulating supply and indirectly makes Bitcoin scarcer and over time more valuable. Ownership does seem to change hands quite often; however, scarcity always seems to play the most essential role within the marketplace.

Sad but true, we've achieved some level of adoption but the dream of massive adoption isn't quite there yet. I mean, the kind of massive adoption where Bitcoin is accepted everywhere and used in our daily lives, like that.


If there's some proof, like a figure or a comparison from past years to now, that’d really help to convince us. Honestly, I’m not sure if it’s really dropping—just my gut feeling isn’t enough. I need facts to agree with you that this is really happening.

edit : @MeGold666 thanks you putting effort showing some proof, that's certainly worth a read.

yes sir.

He never proved he owned any Bitcoin, the story is an elaborated scam for fame - seen this schemes way too many times.


Bitcoin adoption has already happened, it won't go any further because it's stuck in the "Digital Real-Estate" thingy instead of updating it's protocol to meet the demands for Digital Cash which has much higher demand.

Actually, Bitcoin adoption has been dropping for years now due to it's scalability issues, it was the reason why Steam and some other big platforms ditched it.

Investors are being lied to but the market speaks the truth and anyone can see for them self which project is the true king when it comes to adoption.

Bitcoin is not "Digital Gold", Bitcoin is an old house that needs a lot of repairs.

If this data is accurate, the volatility in the market will always be there since it’s easy for big holders to manipulate things. With only a few coins left to be mined, the impact might be less significant, which is probably why the last halving didn’t pump the market as much as previous ones. Back then, even altcoins were hitting ATH.

If this kind of data continues, with control still in the hands of a few, will we still see massive adoption? Or could it happen more with altcoins rather than Bitcoin? What do you think?

So Patoshi is what is called the early mining done by Satoshi himself. We've done far from this and many for sure aren't aware of this and even I. 

Sadly, he can't be sure if the hard drive is still there. He's having a tough time just to get permission to dig on the dump site. Or did I miss some development from this guy's story? Huge money is at stake there and for sure if by any chance of luck he's able to gain access and able to recover it, it's definitely going to be on the exchanges and be quickly dumped.

the story was real

though the guy moved his interest over to altcoins in later years.. INITIALLY he was actually trying to get the local council to allow him access to the waste facility. it was not a made up story nor intended to promote altcoin(initially)
there is proof to back him up that he done things to try gaining access to the site and videos of him talking to town planners and the waste facility management..

but yes later years he converted to do some fundraising and some altcoin stuff and is probably now more wealthier than his initial fiat value investment he put into crypto at the 2013 date.. but still he didnt get to access the waste site and just uses his real story now to just grab for fame and promotion

This story is fake and made to gain popularity and promote other chain from his profile (Bitcoin Cash).

Secondly, HD in this fairy tale would be long time dead, it would be physically impossible to find it and no one in the right mind would allow for such disruption.
You can check for yourself in less hazardous environment, dig up a hole in your yard, and bury your HD, after 1 year it will be so corroded you will be able to put your finger through it.
He claimed it was 2.5-inch mechanical drive, this drives have very thin casing as you know.

The claimed accident took place in 2013, the data could be corrupted even if this drive was sitting on a home shelf for that long.

Do not believe in stories that are not backed by any proofs and in this case, additionally have a motive (fame and advertising).

#not-you-key-not-your-coin

I've heard podcasts with people who are in this space for 10 years and they were pretty much in agreement that there's much less bitcoin available for buying than it is estimated.

For instance, they have a certain time for which an address has to remain dormant until it's regarded as lost. This means that if that time is 3 years, people who lost bitcoin in the last 2 years will not be counted. On the other hand, I personally have addresses that were untouched since 2018, so my coins are surely counted as lost.

I wonder how is bitcoin deposited on exchange treated? Is it money of an individual investor, or maybe it belongs to a corporation?

I dont think this data is accurate either because Satoshi most likely has more coins than that AND i doubt 3.7M coins are lost. People count the coins lost because they haven't moved in a decade and they assume that the user lost the private key or seed. However from time to time we see coins which move from 2010 every couple of months or so. Many of those unspent coinbase coins from 2009 could also move one day. This is not a good way at gauging lost coins.

Coins which are lost for sure are those which are sent to an address where the private key is impossible to calculate such as sending coins to an address such as 11111111111111111198743. There is also that guy in UK which is fightning in court to get his old HD back from the dump. One day he might win his case and they might actually try and recover that HD, if the HD isnt damaged then you got tons of coins which can enter the market any day.

there are only 187m UTXO's and when you look at other data*. you have to infer that not everyone owns just one or two UXTO to have the 130million individual number.. and instead its only a few dozen million individuals that own actual keys to spend UTXO's and the rest are hot/cold wallets of keys of custodian/exchanges that represent a hundred million people who are promised coin if they hit the exchanges withdrawal button(but the exchange owns the keys to the coin(whilst people are leaving the coin in possession of the exchanges hot/cold wallet))

*exchanges have stats that they have hundreds of millions of customers

I think that a big bunch of those "individuals" are most probably mining companies, exchanges and even more lost wallets. But I have no data, it's just a hunch.

It is pretty crazy that individuals own such a large amount of the supply of Bitcoin. I expect that will continue to change as the ETF and governments become the largest holders. I don’t see it taking more than 2 cycles for this to happen, which means there will be a whole lot of buying going on from these entities. Should be good for the price.

These are just estimates, but so far it's indeed a great chart distinguished from publicly available data on exchanges, govs, business, Satoshi owned btc. While i wonder how they get the data and how they come up from those individually owned btc, lost and those others. Especially the lost btcs.

At the moment, the individuals have all the power. Don't let them take it from you!

From the chart, what first caught my attention is on the number of lost bitcoin, i see it as what is not been well clarified upon, is it under the statistics of those who lost access to their coins on the blockchain, locked coins, or the ones sent to a wrong address was this statistic base upon, also the people holding on exchanges are more in numbers despites that they have little capacity holdings to those that make use of non custodial wallet, which we often see most of the whales go for.

You are wrong and I have already described it.

This is what happens when you blindly assume things without doing any research or at least read the whole discussion before engaging in it.

I don't expect much intelligence from someone who quotes images.


Do you have more financial advices ?  

Guy is high on hopium and can't deal with any critic, it's like talking to a wall.

Don't forget that the main reason most Bitcoin is held in a small amount of wallets is because tons of people, companies, and ETFs hold their Bitcoin on exchanges. So those 1.87% of wallets are not the bitcoin of a few people, they are the bitcoin of millions of people and many companies and institutions, held in exchange wallets. So the claim you are trying to make is the lie.

That's what happens when you blindly post statistics with zero understanding of context. Yes your stats may be right, but your conclusion is dead wrong because you have no understanding of the context.

Nothing to argue about, anyone can check the numbers in the given source for them self.

Well, I really don't care about how it is distributed, since those who complain about this usually clamor for redistribution, which involves a politician taking the cake and distributing it as best suits him, something that usually serves the politician's interests much more than those of the general population that he aims to serve. Although when I saw the OP I wondered how accurate what he stated would be and I see that in the second post they dispute it so I'll leave you arguing and I'll go away.

Centralized exchanges do not own that much, you can easily check it. Most of the coins are held by >1.87% rich people.  (you can subtract CeX wallets, so it's even less percentage of people who control majority of BTC)

They can easily control the price of Bitcoin and in future can act like banks on which you will be able to "own" Bitcoin.

Welcome to the slave world.

https://www.youtube.com/watch?v=JCADpxXn4Yo

I think the statistic count people who hold Bitcoin in centralized exchanges is belong to individuals instead of businesses, that's why we see there are more than 50% Bitcoin belong to individuals. I would count it as businesses instead because the individuals don't have a complete control over their coins. Or they can just divide between coins belong to "unknown non custodial wallet" and "CEX cold and hot wallet" to be more accurate.

Current supply: 19,747,143 BTC

Of which 18,321,811 BTC corresponds to 92.78% of supply is held in 1.87% of wallets.

Source:
https://bitinfocharts.com/top-100-richest-bitcoin-addresses.html
http://addresses.loyce.club/


This was checked in: August 30, 2024

Your data is presented in a way to show that bitcoins are well distributed and that average people have more control than companies.
It's a lie.

This data in the graphics is from Bitcointreasury.net and BitMEX research.

- Bitcointreasuries.net has this information at Treemap chart.
- I can not find original source from BitMEX research.
Some other sources I can find on Bitcoin distributions.
Demystifying Bitcoin's Ownership Landscape
Bitcoin distribution rich list.

Bitcoin distribution are not static but dynamic and changes with every new Bitcoin block that contains thousands of new Bitcoin transactions. Information here is for reference at writing time of these resources.

There is only about 6% of Bitcoin total supply to be mined until all 21 millions of bitcoins will be all mined. If you don't trust the graphics, you can check with
https://coinmarketcap.com/currencies/bitcoin/