Topic: Distribution of bitcoin wealth by owner - page 2. (Read 153365 times)

recent estimates has shown that majority of people with substantial shares spreads their btc wealth across multiple addresses. the wealth disparity in bitcoin may not be as extreme as the address data would suggest..
 in fact it's likely that the top 1% of the btc holders only own around 78% of all btc..

Ok, no problem, when are you going to publish your analysis for 2016, your latest analysis is for 2014 which is pretty obsolete.

I`d like to see a fresh updated study on it. Thanks!

Just read the first few hundred posts of this thread about the methodology first, and if discussion from that basis is uninteresting, continue in one of the myriad of other threads dedicated to other methodologies!

But as far as I know, it's impossible to know any data "by owner", we can only do guesstimating on "by address" and then speculate about who owns what.

There will never be a way to properly know any of this, what do we know is that the distribution is super unbalanced, but as time goes by and whales start getting scared, they will sell and those coins will go to more hands.

Could you all be so kind as to only discuss the Distribution of bitcoin wealth by owner here, and use any or all of the "Distribution of bitcoin wealth by address" threads for that purpose.

The "distribution by address" data does not give any useful indication about the owners, or if you believe it does, start with explaining how the situation has changed from the first 20 pages when it did not.

Ok we look at block 400,000  there exists 15,247,397.211 BTC in circulation.

I looked at bitcoinrichlist: http://www.bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=400000


Let's see what that distribution is:

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First we ignore the 0 - 0.001 BTC balances because those are highly likely change addresses or black holes.

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So that means we work with 15,246,656.603BTC

Here is the estimated distribution:



Which breaks down to:



And the  BITCOIN/% distribution:



We can see it's quite centralized, the most bitcoin goes to the smallest % distribution at the top

i just wondering how can they got so many bitcoins?is they all mine bitcoin since 2009?if that was true,i'm give big respect to them,they can predict the future,they know bitcoin have good future and long life,so they get that amount befre so many people know about bitcoin and adopt it.

That's a lot of money. Suppose it's true.

Then 4 entities. just 4 own 10% of all the bitcoin. That's something which is not good. And we all know most of us have more addresses, which mean the top 10 probably own way more then we will ever know.

Roger Ver ~ 300,000 BTC.

Eric Voorhees ~ 125,000 BTC

Karl Gray - ~ 100,000 BTC

U.S. Govt ~ 600,000 (Ross Ulbright)

U.S. Govt ~ 500,000 (Gox theft) >> My guess

Those are the numbers I've seen again and again.  There are a few others. 

And of course the mining pools.  They own millions. 

I don't disagree with you, necessarily; however, I nonetheless believe that you may be undercalculating the impact of fractional reserves on bitcoin valuation - and even our knowledge of the distribution of actual coins out there.  Surely, technical people and bitcoin advocates have concerns about the extent to which fractional reserve practices may be taking place and there remains pushes to increase ease of use mechanisms to verify that coins are there and also for individuals to more easily maintain their own private keys, rather than trusting them to 3rd parties. 

Gox was a pretty decent sized example of fractional reserves coming to a head, yet a similar problem could result again, which causes some undermining of confidence in bitcoin and can indirectly drag down the whole value of bitcoins.  Nonetheless, I agree with you that the problem is not as pervasive in bitcoin (or even other crypto currencies) as it is with almost all major fiat currencies.

You make all decent points, except your response to my last point.


Of course there is some fractional reserves going on.  You don't think so?  They end up being a scam if they get caught and there is a run on the bank, but there is considerable incentives for 3rd party holders to engage in fractional reserve behaviors, especially if they think that they will not get caught....

You think chinese exchanges have full reserves?  Bitfinex, BTCC, OK coin, Huobi?  Even if they allow marginal trading, etc etc, it seems more likely than not that they do not have all the coins that they claim to have.  But I am hypothesizing about that, too.

I see in the starting post there was only one person (Satoshi) in the 100K - 21Mill and flashing forward to today there are three.
Any idea who the other 2 are or is that still unknown aspect. My guess is Winklevoss twins but do not think they bought this much.
Really had no idea there was so little people actually entrenched in bitcoin,interesting to see the ladder.

As you can see from OP (and the last couple of posts), there can be a variety of methodologies to extract data in order to make inferential and logical claims.... so far, not really direct data concerning this topic.

Also, sometimes, there can be a bit confusing and possibly self-serving (inaccurate) information coming out of exchanges and other third-party wallet holders that may inaccurately portray number of wallet holders and distribution of coins in those wallets.  

For example, currently, I have my coins spread out over more than 10 wallets (but some wallets create multiple addresses, so currently, I have at least three times as many addresses as I do wallets).  Possibly, there would be enough information to figure out that those 10 wallets (and 30+ addresses) are mine, but I doubt that anytime soon there will be that level of transparency regarding private holdings.

Surely, I value some of my privacy - even though in anonymous survey, i may be willing to tell the truth regarding my holdings - depending on my mood on that day.


Also, is there some fractional reserves going on with bitcoin... I hope not, but I am sure that there is some level of that going on, too.

Well ADDRESS =/= OWNER, most people have more than 1 address, so some wealthy guys could be in the 10k-100k, but control more addresses, therefore they are in the 100k+.

However I wonder what are those 3 addresses with big balance? Can we contact those addresses somehow and see if they are still owned by someone?

====================================================================

A bit more recent Data from Block 350,000 (March 30th 2015)



Bitcoin Distribution by Address.

 

Bitcoin             # of Addresses       # of Addresses       # of Bitcoins         % of Bitcoins

0 - 0.001          67,723, 835            96.97%                 433.016                0.00%

000.1 - 0.01      660,606                 0.95%                   2,570.345             0.02%

0.01 - 0.1         703.760                 1.01%                   24,167.288            0.17%

0.1 - 1.0           381,141                 0.55%                   130,629.966          0.93%
 
1 - 10              246,675                 0.35%                    697,285.279          4.95%

10 -100            106,997                 0.15%                   3,726,675,722        26.62%

100 - 1K           14,422                  0.02%                    3,329,535.678       23.79%

1k - 10K           1,582                    0.00%                    3,255,894.410       23.26%

10k - 100K         99                       0.00%                    2,389,376.464       17.07%

100K - 21Mill      3                         0.00%                    440,781.859         3.15%

 

--------------------------------------------------------------------------------------------------------------------------------------

TOTAL              69,839,103             100%                    13,997,351.024        100%



======================================================================


22. Apr 2014

#People   #Bitcoins   #TotalBitcoins
70   BTC10k+   3.6M
930   BTC1k-10k   2.2M
13k   BTC100-1k   3.0M
85k   BTC10-100   2.3M
250k   BTC1-10   0.8M
340k   BTC0.1-1   0.1M
230k   BTC0.01-0.1   0.0M
90k   BTC0.002-0.01   0.0M

Total: 12.2M bitcoins (0.5M bitcoins assumed lost)

Those are rumors FFS, how can anyone know this?

I need raw data folks, or at least some bigger survey about this.

I was forced to dump that month.  I sold below $200.  Shocking!

TOP-1% is probably about 50,000 holders now. I believe it's even more than 50% of the coins, especially if the VC's and their financed companies also have a long position.

(Strangely enough, I don't believe many of them do - Feb 2015 in Satoshi Roundtable I was shocked to see such people mainly short - you can check if it was a good time to be short then... )

Someone said a while ago that something like the top 100 wallets have 6 million Bitcoin or some similar number, and thus it seems more feasible that the top 1% hold or will hold >45% of all the Bitcoin that will exist.

I guess we'll find out one day.

Please any reference to any new survey or research that has been done on this topic?

I`m very curious how much % of people hole how much % of bitcoin.

I think it's a massive concentration in about the top 5%.