Topic: Distribution of bitcoin wealth by owner - page 6. (Read 153365 times)
Thank you for this beautiful publishment. Also it's interesting to see that 0.5 M BTC is lost, we should find a way to rediscover this missing BTC
Whereas, the truly revolutionary, powerful actions or paradigm shift inventions empower and provide services across a range of classes.
Try CK then.
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I really don't read your posts. I click at random infrequent (was months hiatus from reading you) intervals on one of your threads, and almost invariably I find IMO to be myopia. Again this is my opinion and you and readers are free to disagree.
Well my communications skills are legendary bad, that alone does not mean that I would not understand things.
I'm Business Class in BTC and definitely First Class in XMR. when will i get rich? 
I believe the key is in empowering and providing services to the class that is one below your own.
With this in mind, I have been aiming my Bitcoin Supernode initiatives to the ones having BTC100-BTC10,000, and my XMR hangaround gang is also the large holders.
So who do Bitcoin holders < 1BTC serve? Should we empower the dust transactions class?
You are espousing the hierarchical management of Theory of the Firm model. This is for bean counters and the small minded. Some work gets done in this model, but it is more attuned to the deterministic, methodical, dying Industrial Age where capital was fungible and knowledge was replicable, than to the serendipity and chaos of the Knowledge Age where capital is knowledge and not replicable.
Whereas, the truly revolutionary, powerful actions or paradigm shift inventions empower and provide services across a range of classes.
You are applying an old world economy (dinosaur) model to a revolutionary Knowledge Age paradigm shift. The passive investor class is a dying model. The rise of the investor who invests in his own knowledge generation is rising.
I really don't read your posts. I click at random infrequent (was months hiatus from reading you) intervals on one of your threads, and almost invariably I find IMO to be myopia. Again this is my opinion and you and readers are free to disagree.
I believe that the holder of the largest bitcoin will soon be handing out their bitcoin for bitcoin holders are very few like me, this is what distinguishes between the holder and the fiat currency bitcoin, I believe bitcoin holders of high sense of community than the owner of a fiat currency , hopefully ... 
I'm Business Class in BTC and definitely First Class in XMR. when will i get rich?
I believe the key is in empowering and providing services to the class that is one below your own.
With this in mind, I have been aiming my Bitcoin Supernode initiatives to the ones having BTC100-BTC10,000, and my XMR hangaround gang is also the large holders.
Or, perhaps those companies are counting inactive users with pennies in their accounts (like MtGOX did, as you pointed out yourself).
I agree with your premise that there are several "classes" of holders. There is even a high-quality thread that discusses the concept:
First Class - 30% of the coins, <0.1% of the holders
Business Class - 30%, 3%
Middle Class - 30%, 17%
Entry Class - 10%, 80%.
In the Entry Class, many hold only a very meager amount, but this (deciding to buy, and going through the hurdles of doing it) is much better than not being at that point yet, or not even knowing about Bitcoin. So it surely must count.
It is difficult to go around the facts that show that several million people have tried Bitcoin. Of them, the number of continuous, active, users is still less than a million, which can easily be seen from the blockchain address usage activity. How much less, the answer would warrant some thorough analysis by an impartial analyst.
I'm Business Class in BTC and definitely First Class in XMR. when will i get rich?
From what i see
There are few people have too much bitcoin
And too much people have small bitcoin amount
In this case bitcoin distribution doesn't have different with fiat
There are few people have too much bitcoin
And too much people have small bitcoin amount
In this case bitcoin distribution doesn't have different with fiat
Or, perhaps those companies are counting inactive users with pennies in their accounts (like MtGOX did, as you pointed out yourself).
I agree with your premise that there are several "classes" of holders. There is even a high-quality thread that discusses the concept:
First Class - 30% of the coins, <0.1% of the holders
Business Class - 30%, 3%
Middle Class - 30%, 17%
Entry Class - 10%, 80%.
In the Entry Class, many hold only a very meager amount, but this (deciding to buy, and going through the hurdles of doing it) is much better than not being at that point yet, or not even knowing about Bitcoin. So it surely must count.
It is difficult to go around the facts that show that several million people have tried Bitcoin. Of them, the number of continuous, active, users is still less than a million, which can easily be seen from the blockchain address usage activity. How much less, the answer would warrant some thorough analysis by an impartial analyst.
The methodology 31 pages ago states that a bitcoin owner is a person who "owns" bitcoins valued at least $1.
Well, that is a rather low threshold. It is not useful for investment or purchasing, not even in third-world countries. It would include many people who tried bitcoin but did not like it, were stuck with 0.005 BTC left over from their experiment, cannot spend it and see no point in cashing it out.
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The ownership is regardless of how they are distributed in addresses, therefore the number of owners may be higher or smaller than the number of addresses holding bitcoins that are valued at least $1.
I understand that, and agree that the total amount owned is the right metric for defining a "bitcoin holder" (although I disagree about the threshold).
My premise was that *if* someone keeps their coins in personal wallets, then at least one address in those wallets must hold a significant fraction of his holdings. Said another way, someone who owns no address with more than 0.1 BTC probably does not have more than a couple BTC in his wallets. Thus, the number of addresses with at least X BTC is likely to be an upper bound on the number of people who hold at least 10*X BTC in their wallets.
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There are several ways of holding bitcoins that do not directly correspond to addresses. Coinbase alone is supposed to have 2.5 million clients, and they serve one country only. Similarly (I cannot divulge exactly this business-critical information) in another country, the leading bitcoin merchant has 0.6% of the country's population as clients.
Well, that would mean that the vast majority of bitcoin holders actually holds IOUs from "bitcoin banks" like Coinbase or the exchanges. That would be a disconcerting fact if it were confirmed.
Or, perhaps those companies are counting inactive users with pennies in their accounts (like MtGOX did, as you pointed out yourself).
The methodology 31 pages ago states that a bitcoin owner is a person who "owns" bitcoins valued at least $1.
The ownership is regardless of how they are distributed in addresses, therefore the number of owners may be higher or smaller than the number of addresses holding bitcoins that are valued at least $1.
There are several ways of holding bitcoins that do not directly correspond to addresses. Coinbase alone is supposed to have 2.5 million clients, and they serve one country only. Similarly (I cannot divulge exactly this business-critical information) in another country, the leading bitcoin merchant has 0.6% of the country's population as clients.
The number of bitcoins is known information, as well as the market cap. What can be said with certainty, is that the average holding of bitcoins, especially valued in fiat, has declined significantly after (probably) being more than $10,000 in the last peak valuation.
When I find the time, I will surely return to this interesting topic. The hibernation is the time of holding for the past holders, and accumulation for the new ones. When the price starts to move, I will be back. Just as I said after the April-13 peak had deflated. And did
The ownership is regardless of how they are distributed in addresses, therefore the number of owners may be higher or smaller than the number of addresses holding bitcoins that are valued at least $1.
There are several ways of holding bitcoins that do not directly correspond to addresses. Coinbase alone is supposed to have 2.5 million clients, and they serve one country only. Similarly (I cannot divulge exactly this business-critical information) in another country, the leading bitcoin merchant has 0.6% of the country's population as clients.
The number of bitcoins is known information, as well as the market cap. What can be said with certainty, is that the average holding of bitcoins, especially valued in fiat, has declined significantly after (probably) being more than $10,000 in the last peak valuation.
When I find the time, I will surely return to this interesting topic. The hibernation is the time of holding for the past holders, and accumulation for the new ones. When the price starts to move, I will be back. Just as I said after the April-13 peak had deflated. And did
would love to see an update on this and compare how the statistics have changed over the past couple of years...
Me too.
I'm pretty sure, for example, that in more than 1 year the estimated Bitcoin holders are, at least, doubled... and also the sentence " thanks to Mt.Gox data " should be deleted
The the number of addresses in the blockchain with at least 0.1 BTC was ~450'000 in January, ~650'000 in September.
Beware that these numbers are only approximate upper bounds for the number of bitcoiners. If I had less than 1 million $ in 2013, and now have less than 2 million $, I cannot assume that I have done well...
# Distribution of bitcoins by address on 2014-01-12
# From http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=280000
BTC balance ! Num.addresses ! % of addresses ! Tot BTC ! % of all BTC
---------------------+---------------+----------------+----------------+-------------
0 - 0.001 | 24,412,755 | 95.46 | 173.217 | .
0.001 - 0.01 | 306,842 | 1.20 | 1,171.717 | 0.01
0.01 - 0.1 | 376,262 | 1.47 | 11,759.442 | 0.10
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 25,095,859 | 98.13 | 13,104.376 | 0.11
---------------------+---------------+----------------+----------------+-------------
0.1 - 1 | 217,753 | 0.85 | 75,192.088 | 0.61
1 - 10 | 157,801 | 0.62 | 444,006.086 | 3.63
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 375,554 | 1.47 | 519,198.174 | 4.24
---------------------+---------------+----------------+----------------+-------------
10 - 100 | 88,820 | 0.35 | 3,306,869.210 | 27.00
100 - 1,000 | 11,627 | 0.05 | 2,795,725.883 | 22.83
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 100,447 | 0.40 | 6,102,595.093 | 49.83
---------------------+---------------+----------------+----------------+-------------
1,000 - 10,000 | 1,344 | 0.01 | 3,051,247.207 | 24.91
10,000 - 100,000 | 96 | . | 2,305,773.269 | 18.83
100,000 - 21,000,000 | 2 | . | 255,456.131 | 2.09
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 1,442 | 0.01 | 5,612,476.607 | 45.83
---------------------+---------------+----------------+----------------+-------------
TOTAL | 25,573,302 | 100.01 | 12,247,374.250 | 100.01
---------------------+---------------+----------------+----------------+-------------
# Distribution of bitcoins by address on 2014-09-10
# From http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address?atblock=320000
BTC balance ! Num.addresses ! % of addresses ! Tot BTC ! % of all BTC
---------------------+---------------+----------------+----------------+-------------
0 - 0.001 | 44,917,388 | 96.47 | 288.600 | .
0.001 - 0.01 | 468,390 | 1.01 | 1,815.552 | 0.01
0.01 - 0.1 | 545,136 | 1.17 | 16,415.880 | 0.12
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 45,930,914 | 98.65 | 18,520.032 | 0.13
---------------------+---------------+----------------+----------------+-------------
0.1 - 1 | 300,665 | 0.65 | 104,450.810 | 0.79
1 - 10 | 214,170 | 0.46 | 605,575.673 | 4.57
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 514,835 | 1.11 | 710,026.483 | 5.36
---------------------+---------------+----------------+----------------+-------------
10 - 100 | 99,925 | 0.21 | 3,557,378.156 | 26.85
100 - 1,000 | 13,813 | 0.03 | 3,145,684.530 | 23.75
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 113,738 | 0.24 | 6,703,062.686 | 50.60
---------------------+---------------+----------------+----------------+-------------
1,000 - 10,000 | 1,445 | . | 3,210,486.390 | 24.23
10,000 - 100,000 | 95 | . | 2,178,395.722 | 16.44
100,000 - 21,000,000 | 3 | . | 426,872.355 | 3.22
---------------------+---------------+----------------+----------------+-------------
SUBTOTAL | 1,543 | . | 5,815,754.467 | 43.89
---------------------+---------------+----------------+----------------+-------------
TOTAL | 46,561,030 | 100.00 | 13,247,363.668 | 99.98
---------------------+---------------+----------------+----------------+-------------
Where can i see the % now?
would love to see an update on this and compare how the statistics have changed over the past couple of years...
Me too.
I'm pretty sure, for example, that in more than 1 year the estimated Bitcoin holders are, at least, doubled... and also the sentence " thanks to Mt.Gox data " should be deleted
would love to see an update on this and compare how the statistics have changed over the past couple of years...
Man, took forever to go through 50% of this thread! lol
You think bitcoin distribution is unfair?
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
I agree... Bitcoin's distribution is by no means unfair.
Especially, when you look at inequality in the real world.
What are you guys taking about?
Bitcoin wealth ownership is 10 times as centralized as paper fiat - .1% control nearly 50% of all Bitcoins with one single guy controlling nearly 10%. lol.
The only thing Bitcoin is missing is a centralized board [like the Fed reserve board] to control the protocol which I think is forthcoming.
It's fucking silly. If big Bitcoin holders cared about the outcome of BTC they should be doing giveaways for the community instead of sitting their pig fat asses on mountains of BTC as it keeps crashing.
If you start giving out BTC to randomers on the internet, most of them will probably sell immediately and pocket the fiat. That's not gonna help anything.
You think bitcoin distribution is unfair?
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
I agree... Bitcoin's distribution is by no means unfair.
Especially, when you look at inequality in the real world.
What are you guys taking about?
Bitcoin wealth ownership is 10 times as centralized as paper fiat - .1% control nearly 50% of all Bitcoins with one single guy controlling nearly 10%. lol.
The only thing Bitcoin is missing is a centralized board [like the Fed reserve board] to control the protocol which I think is forthcoming.
It's fucking silly. If big Bitcoin holders cared about the outcome of BTC they should be doing giveaways for the community instead of sitting their pig fat asses on mountains of BTC as it keeps crashing.
You think bitcoin distribution is unfair?
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
I agree... Bitcoin's distribution is by no means unfair.
Especially, when you look at inequality in the real world.
What are you guys taking about?
Bitcoin wealth ownership is 10 times as centralized as paper fiat - .1% control nearly 50% of all Bitcoins with one single guy controlling nearly 10%. lol.
The only thing Bitcoin is missing is a centralized board [like the Fed reserve board] to control the protocol which I think is forthcoming.
It's very different, you don't have a choice with the fiat system, but with Bitcoin you have a choice. Choosing Bitcoin is accepting all it is, there is an understanding that the people who have chosen to store wealth on the blockchain want it to succeed.
So the disparity will more likely diminish over time than concentrate, this is the opposite of the current system.
You think bitcoin distribution is unfair?
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
LMAO. Only delusional ignorant idiots would question the fairness of bitcoin after realizing the top 1% own more than half the entire fucking currency pool on the planet. Here you go idiots:
http://www.forbes.com/sites/laurashin/2014/01/23/the-85-richest-people-in-the-world-have-as-much-wealth-as-the-3-5-billion-poorest/
I agree... Bitcoin's distribution is by no means unfair.
Especially, when you look at inequality in the real world.
What are you guys taking about?
Bitcoin wealth ownership is 10 times as centralized as paper fiat - .1% control nearly 50% of all Bitcoins with one single guy controlling nearly 10%. lol.
The only thing Bitcoin is missing is a centralized board [like the Fed reserve board] to control the protocol which I think is forthcoming.
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