Although it's not intuitive, big investment companies will put more bitcoin in ordinary people's hands.
Especially when we get more Bitcoin ETFs.
When we get ETFs, 100s of millions of people will suddenly be able to buy and sell real bitcoin without any friction.
Topic: how many bitcoin is left ordinary people's hand? - page 2. (Read 376 times)
First of all, the number of confirmed lost bitcoin is far lower than the amount we are estimating as lost. So, you don't know whether people are not touching their bitcoin for long time or they have lost the access.
And the result can not be correct because you don't know which coins belong to which person/institution exactly unless they publicly announced it.
Are you sure? It really is a hard metric to estimate, because any data that we collect would likely be self submitted, and therefore could be fake data. For example, I must come across at least one person a month claiming they have lost big amounts of Bitcoin, and have simply "forgotten" where it is, or forgot the credentials. Now, these people could in fact be lying, or they could be misremembering, or indeed actually lost the amount of coins they lost. Also, we have to consider what people mean by "lost", and whether they've actually be lost, or simply they got scammed etc. And the result can not be correct because you don't know which coins belong to which person/institution exactly unless they publicly announced it.
Now, all of the above would support your argument that we are over estimating the amount of Bitcoin that has truly been "lost". However, there's also the flipside where people inflate, and deflate the amount that they actually lost. So, there could well be people out there that's lost thousands, and are too embarrassed, or some people don't want to paint a target on their back.
I'd probably agree we are overestimating the amount, but I can't explicitly state that because we'll never really have great data to work with. The only really useful data we have is the amount of Bitcoin that is in circulation. That's really the only metric that's going to be reliable.
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First of all, the number of confirmed lost bitcoin is far lower than the amount we are estimating as lost. So, you don't know whether people are not touching their bitcoin for long time or they have lost the access.
And the result can not be correct because you don't know which coins belong to which person/institution exactly unless they publicly announced it.
And the result can not be correct because you don't know which coins belong to which person/institution exactly unless they publicly announced it.
nakamotos= 1,100,000
there are many early miners some of them are active today whom you are counting as "nakamotos" and consider lost.Quote
lost= 4,000,000
you are probably counting mine (an ordinary person) and a lot of other bitcoiners coins in this too just because we haven't moved our coins you are calling them "lost"!Quote
whales= .4 * bitcoin_in_circulation = 7,452,135
most of those addresses that you call "whales" belong to big exchanges and similar companies that are handling thousands of users bitcoins so they aren't whales themselves and they are indeed the very same "ordinary people" who your title mentions.Quote
in_corps_hand= 1,267,652 + 42,000 + 1000= 1,310,652
that is the only thing you can count because they make public claims about how much they own. of course some of these are going into the hands of their "ordinary" investors again but through that company.
with all these huge bitcoin purchases by corporations, i was wondering how many bitcoin is left in ordinary ppl's hand and i made an assumption which ended up w/ this number:
7,137,213 bitcoins + 900 (newly mined per day)
is this method proper for a close guess?
bitcoin_in_circulation= 18,630,338
nakamotos= 1,100,000
#https://www.buybitcoinworldwide.com/satoshi-net-worth/
lost= 4,000,000
#https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/
whales= .4 * bitcoin_in_circulation = 7,452,135
#2231 people owning addresses with more than 1,000 btc which is 40% of the market
#https://www.businessinsider.com/bitcoin-whales-the-key-facts-figures-you-need-to-know-2021-1?international=true&r=US&IR=T
in_corps_hand= 1,267,652 + 42,000 + 1000= 1,310,652
# https://bitcointreasuries.org/ + tesla estimation + assumption of small bizs
total= 13,862,787
total_bitcoin= 21,000,000
rest = 7,137,213
blocks_mined_per_day= 144
bitcoin_produced_per_day= 900
7,137,213 bitcoins + 900 (newly mined per day)
is this method proper for a close guess?
bitcoin_in_circulation= 18,630,338
nakamotos= 1,100,000
#https://www.buybitcoinworldwide.com/satoshi-net-worth/
lost= 4,000,000
#https://www.buybitcoinworldwide.com/how-many-bitcoins-are-there/
whales= .4 * bitcoin_in_circulation = 7,452,135
#2231 people owning addresses with more than 1,000 btc which is 40% of the market
#https://www.businessinsider.com/bitcoin-whales-the-key-facts-figures-you-need-to-know-2021-1?international=true&r=US&IR=T
in_corps_hand= 1,267,652 + 42,000 + 1000= 1,310,652
# https://bitcointreasuries.org/ + tesla estimation + assumption of small bizs
total= 13,862,787
total_bitcoin= 21,000,000
rest = 7,137,213
blocks_mined_per_day= 144
bitcoin_produced_per_day= 900
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