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Bitcoin Ownership Breakdown

The Bitcoin Wealth Distribution

The Bitcoin Wealth Distribution

The public structure of the Bitcoin blockchain allows us to view & analyze every transaction on the network. We can see exactly where every bitcoin was born, as mining rewards for solving for & placing valid new blocks into its blockchain, & exactly where every bitcoin has traveled, through potentially multiple addresses on its blockchain. By tracing every bitcoin through respective transactions over the life of its blockchain, we can come to glean to composition & distribution of all the currently mined bitcoin over all their current addresses. I came across a cool tool the other day ( bitcoinprivacy.net made by Jorge Martinez Pizarro & Stefan Richter) that allowed me to easily view a lot of this data, and wanted to share & visualize it with a few charts. Please note, the data displays bitcoin wealth distribution across addresses, not necessarily individual holders of bitcoin. The distinction & difficulty will be discussed & explored further after the address charts. To summarize in text, there are currently: For some additional details & information: Due to the nature of easy & anonymous address creation, and corporate account management inherent to Bitcoin & the companies in the ecosystem, estimating the actual number of unique bitcoin holders as opposed to addresses is unfortunately much more difficult & not something we can glean from observing its blockchain alone. Addresses can not only overstate user numbers when single people unknowingly control numerous addresses, but also understate user numbers when single addresses hold the funds of numerous unknown people, like an exchange who may control balances in a traditional database. Some relevant estimates & statements on customer, wallet, & holder numbers can be seen below for additional perspective on the compos Continue reading >>

Does Anyone Know The Breakdown Of Bitcoin Ownership Is? : Bitcoin

Does Anyone Know The Breakdown Of Bitcoin Ownership Is? : Bitcoin

Do not use URL shortening services: always submit the real link. Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy. News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news. Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies. Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted. Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion. Please avoid repetition /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system . Do not post your Bitcoin address unless someone explicitly asks you to. Be aware that Twitter, etc. is full of impersonation. Continue reading >>

Beginning 2017 What Estimate Of Individuals Own Bitcoin?

Beginning 2017 What Estimate Of Individuals Own Bitcoin?

How many different individuals in the world own bitcoin? I.e. John owns .5btc, Michelle 300btc, Al 4000btc : the answer would be 3. I am interested in the percent of the global population that owns bitcoin as it would be a good indicator of the potential (and value) further for bitcoin as it is educated to more and more people and eventually reaches mainstream (hopefully). There's a hard limit on the amount of people that own one bitcoin: There currently are only 16.1 million bitcoins in circulation, so there can't be more more than 16.1 million people with one bitcoin. However, there are a number of individuals that control much more bitcoin than that, so it is safe to say that the actual number of users that own one bitcoin is much smaller, I'd guess less than one million people. On the other hand, the number of users that own any bitcoin at all is very hard to estimate as well. There are currently 46 million unspent transaction outputs, so if we'd assume that every user maintains their own balance that would be a strict upper limit. However, many users leave their coins to be managed by online wallets or exchanges, so it's not a reliable limit. On the other hand, the number of people is probably even much smaller than that, because few people own many of those UTXOs. If I were to hazard a guess, I'd say that there are fewer than five million people in the world that own any bitcoins. "However, there are a number of individuals that control much more bitcoin than that" It would be nice to have a list of known high profile individuals and their approx holdings, such as Winklevoss, Ver, Draper, etc so those coins can be subtracted from the 16.1 million count. m1xolyd1an Jan 18 at 17:18 Yes or early adopters (even earlier than now) who played with bitcoin in the thousan Continue reading >>

Bitcoin Wealth Distribution - Landmark Cash

Bitcoin Wealth Distribution - Landmark Cash

Given Bitcoin's protective levels of anonymity, numbers on the distribution of bitcoin wealth by owners are limited, but according to approximate figures provided by the online bitcoin community, BTC ownership has made a fraction of those lucky folks very wealthy. Recent figures provided by BitCoinTalk.org (citation below), an estimated 1,200,000 people own bitcoins that are valued at more than $1 USD (BTC0.001 or more). An additional 280,000 people own bitcoins that are valued at more than $1,000 USD (BTC1 or more), and 930 people are estimated to own bitcoins that are valued at more than $1 million USD (BTC1,000 or more). Just 1 person owns bitcoins that are valued at more than $1 billion USD (thought to be Satoshi, estimated at BTC 980,000). Bitcoin is the future and replacement for money as we know it. It will replace traditional loans and the way we purchase everything. I will go as far as to say our service that offers the best payday loans will eventually be replaced with a Bitcoin solution. Below you can see how Bitcoin wealth distribution compares to the wealth distribution of the U.S. dollar. Continue reading >>

How Does Bitcoin Work?

How Does Bitcoin Work?

This is a question that often causes confusion. Here's a quick explanation! As a new user, you can get started with Bitcoin without understanding the technical details. Once you have installed a Bitcoin wallet on your computer or mobile phone, it will generate your first Bitcoin address and you can create more whenever you need one. You can disclose your addresses to your friends so that they can pay you or vice versa. In fact, this is pretty similar to how email works, except that Bitcoin addresses should only be used once. The block chain is a shared public ledger on which the entire Bitcoin network relies. All confirmed transactions are included in the block chain. This way, Bitcoin wallets can calculate their spendable balance and new transactions can be verified to be spending bitcoins that are actually owned by the spender. The integrity and the chronological order of the block chain are enforced with cryptography . A transaction is a transfer of value between Bitcoin wallets that gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed, which is used to sign transactions, providing a mathematical proof that they have come from the owner of the wallet. The signature also prevents the transaction from being altered by anybody once it has been issued. All transactions are broadcast between users and usually begin to be confirmed by the network in the following 10 minutes, through a process called mining . Mining is a distributed consensus system that is used to confirm waiting transactions by including them in the block chain. It enforces a chronological order in the block chain, protects the neutrality of the network, and allows different computers to agree on the state of the system. To be confirmed, transactions Continue reading >>

This Chart Reveals The Centralization Of Bitcoin Wealth

This Chart Reveals The Centralization Of Bitcoin Wealth

This Chart Reveals the Centralization of Bitcoin Wealth This Chart Reveals the Centralization of Bitcoin Wealth Bitcoin has been making a lot of news lately. The cryptocurrency shot up in value by over 200% in 2017, making many people fear that the market is in a bubble . Last week, China decided to close its bitcoin exchanges, which caused investors around the world to panic about the currencys long-term viability. But how many people own bitcoin, and how is the currency distributed around the world? Check out our new visualization. Our graph represents the entire bitcoin market, which has a value of around $60 billion . For comparison, thats bigger than several well-known companies, like Fed-Ex and General Motors . We then divided the value of the bitcoin market by address. As you can see, over 95% of all bitcoins in circulation are owned by about 4% of the market. In fact, 1% of the addresses control half the entire market. There are a couple limitations in our data. Most importantly, each address can represent more than one individual person. An obvious example would be a bitcoin exchange or wallet, which hold the currency for a lot of different people.Another limitation has to do with anonymity. If you want to remain completely anonymous, you can use something called CoinJoin, a process that allows users to group similar transactions together. This makes it seem like two people are using the same address, when in reality they are not. So its a complex situation. butlets try to break bitcoin down as simple as possible. Bitcoin is justa type of money, like dollars and euros. The main difference is that there isnt a sovereign government backing the currency, and it instead lives online.This is possible thanks to something called the blockchain. Banks and companies mu Continue reading >>

Cryptocurrency Concentration - Just 4% Own Over 95% Of Bitcoin

Cryptocurrency Concentration - Just 4% Own Over 95% Of Bitcoin

Cryptocurrency Concentration - Just 4% Own Over 95% Of Bitcoin Bitcoin has been making a lot of news lately. The cryptocurrency shot up in value by over 200% in 2017, making many people fear that the market is in a bubble . Last week, China decided to close its bitcoin exchanges, which caused investors around the world to panic about the currencys long-term viability. But HowMuch.net asks , how many people own bitcoin, and how is the currency distributed around the world? Check out our new visualization. Our graph represents the entire bitcoin market, which has a value of around $60 billion . For comparison, thats bigger than several well-known companies, like Fed-Ex and General Motors . We then divided the value of the bitcoin market by address. As you can see,over 95% of all bitcoins in circulation are owned by about 4% of the market. In fact,1% of the addresses control half the entire market. There are a couple limitations in our data. Most importantly, each address can represent more than one individual person. An obvious example would be a bitcoin exchange or wallet, which hold the currency for a lot of different people.Another limitation has to do with anonymity. If you want to remain completely anonymous, you can use something called CoinJoin, a process that allows users to group similar transactions together. This makes it seem like two people are using the same address, when in reality they are not. So its a complex situation. butlets try to break bitcoin down as simple as possible. Bitcoin is justa type of money, like dollars and euros. The main difference is that there isnt a sovereign government backing the currency, and it instead lives online.This is possible thanks to something called the blockchain. Banks and companies must keep detailed records of wher Continue reading >>

Are You In The Bitcoin 1%? A New Model Of The Distribution Of Bitcoinwealth

Are You In The Bitcoin 1%? A New Model Of The Distribution Of Bitcoinwealth

Crypto Trader. Tweet about Bitcoin, Ethereum & Crypto at @BambouClub. Crypto Data Analysis at Blocklink.info Are you in the Bitcoin 1%? A New Model of the Distribution of BitcoinWealth TL DR: If you just want to see the results, they are at my data analysis site Blocklink.info [Please clap for this essay. I tweet about crypto trading at BambouClub ] Previous models of the distribution of Bitcoin wealth all depended on an analysis of Bitcoin wallets and Bitcoin addresses. That approach fails inevitably because of the unknowable relationship between people owning Bitcoin, Bitcoin wallets, and Bitcoin addresses. This is a description of a new model of the distribution of Bitcoin wealth built on the assumption that a universal Power Law applies, and that it mirrors the distribution of global financial wealth as reported in the Credit Suisse Global Wealth Report 2016. The Bitcoin distribution that results is tweaked manually to reflect the great mining rewards paid out in the early years to a few people, making it still less equitable than the highly inequitable financial wealth distribution. An estimate of the Bitcoin-owning population is derived from a survey of traffic to Bitcoin-related websites as reported by Alexa.com in comparison to traffic to sites of popular financial corporations that publish their user numbers. There are two parts to this essay a) why former models based on address analysis failed, and b) the new model. Scroll halfway down if you are uninterested in the first part. A. Models of Distribution of Bitcoin Wealth Analyse Wallets & Addresses Data AlwaysFail Previous models of the Distribution of Bitcoin Wealth have depended on an analysis of Bitcoin wallets and Bitcoin addresses. They have all been based on the Bitcoin Rich List . Top 100 Richest Bitc Continue reading >>

Heres Whats Driving Bitcoin Buyers Rush To Millennial Gold - Marketwatch

Heres Whats Driving Bitcoin Buyers Rush To Millennial Gold - Marketwatch

A client jokingly told me that his biggest gripe with me in 2016 and 2017 was that I didnt buy him any bitcoin. I told him not so jokingly that if I bought him bitcoin, hed be right to fire me. Maybe Im a dinosaur; but, like gold, bitcoin BTCUSD, +0.05% is impossible to value. What is it worth? It has no cash flows. Is bitcoin worth $2, $200, or $20,000? But Wall Street strategists have already figured out how to model and value this creature. Their models sound like this: If only X percent of the global population buys Y amount of bitcoin, then due to its scarcity it will be worth Z. On the surface, these types of models bring apparent rationality and an almost businesslike valuation to an asset that has no inherent value. You can let your imagination run wild with Xs and Ys, but the simple truth is this: bitcoin is un-valuable. Moreover, in my view, bitcoin is in a bubble. In 1997, when Coca-Colas KO, +0.09% stock valuation started to rival some dot-coms, bulls used this math: The average consumer of Coke in developed markets drinks 296 ounces of Coke a year. These markets represent only 20% of the global population. And then the punchline: Can you imagine what Cokes sales would be if only X% of the rest of the world consumed 296 ounces of Coke a year? Somehow, the rest of the world still doesnt consume 296 ounce of Coke. Twenty years later, Cokes stock price is not far from where it was then but on the way it declined 60% and stayed there for a decade. Coke, however, was a real company with a product, sales, a real brand, and tangible, dividend-producing cash flows. If you cannot value an asset you cannot be rational. With bitcoin above $11,000, it is crystal clear to me, with the benefit of hindsight, that I should have bought bitcoin at 28 cents. But you only get Continue reading >>

927 People Own Half Of All Bitcoins

927 People Own Half Of All Bitcoins

Ownership of Bitcoin appears to be highly lopsided. This has long been a source of consternation in the Bitcoin community, and people like the FT's Izabella Kaminska have written extensively about the implications of this apparent cartel on prices basically, they get to dictate them, and the rest of us are just price takers. Now Finnish entrepreneurRisto Pietil, an active member of on Bitcointalk.org, has offered an estimate of just how severe this ownership imbalance could be. He based his calculations on data from Bitcoinrichlist.com , which has trawled through Bitcoin's master ledger the Blockchain to offer a rough guide to distribution as well as activity on Bitcoin exchanges. We ran the calculations by Martti Malmi, one of Bitcoin's earliest developers , and he agreed they were basically sound. "The order of magnitude seems right," he said in an email to BI. So, as of Dec. 3., using a price of $1,000 (which is basically where we are now), and assuming 12 million Bitcoins in circulation, here's the breakdown: 47 individuals own 28.9% of the approximately 12 million Bitcoins in existence so far. Another 880 own 21.5%, meaning 927 people control half of the entire market cap of the digital currency. Another 10,000 individuals control about a quarter. And the rest of us (around a million of us) get the crumbs (500,000 are out of circulation, whether through government seizure or people losing their passwords). Rob Wile/Business Insider, data from Risto Pietil And here's what that means in terms of ownership: those same 47 people each own at least $10 million-worth of Bitcoins. The mean net worth may be much higher. Another 880 individuals each own at least $1 million-worth of Bitcoin. About a million people own $10,000 or less worth. Rob Wile/Business Insider, data vi Continue reading >>

The Bitcoin Whales: 1,000 People Who Own 40 Percent Of The Market

The Bitcoin Whales: 1,000 People Who Own 40 Percent Of The Market

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. The Bitcoin Whales: 1,000 People Who Own 40 Percent of the Market A few massive investors can rock it with a shrug. Illustration: Patrik Mollwing for Bloomberg Businessweek On Nov. 12, someone moved almost 25,000 bitcoins, worth about $159 million at the time, to an online exchange. The news soon rippled through online forums, with bitcoin traders arguing about whether it meant the owner was about to sell the digital currency. bitcoin are often known as whales. And theyre becoming a worry for investors. They can send prices plummeting by selling even a portion of their holdings. And those sales are more probable now that the cryptocurrency is up nearly twelvefold from the beginning of the year. About 40 percent of bitcoin is held by perhaps 1,000 users; at current prices, each may want to sell about half of his or her holdings, says Aaron Brown, former managing director and head of financial markets research at AQR Capital Management. (Brown is a contributor to the Bloomberg Prophets online column.) Whats more, the whales can coordinate their moves or preview them to a select few. Many of the large owners have known one another for years and stuck by bitcoin through the early days when it was derided, and they can potentially band together to tank or prop up the m Continue reading >>

Bitcoin Users: Who They Are And What They Do?

Bitcoin Users: Who They Are And What They Do?

Bitcoin Users: Who They Are and What They Do? Who are Bitcoin users? How old are they? What do they do? Find out in our article. Bitcoin is gaining popularity and the numbers of BTC users are constantly increasing too. But how can we know how many Bitcoin enthusiasts are there, exactly? Given that it is a decentralized system, the Bitcoin network doesnt offer a lot of information about its users. We can think of two ways of estimating the size of Bitcoins audience: we can base our calculations either on the number of wallets or transactions. Regarding the Bitcoin wallets, the number of them has doubled from five up to 10 mln during 2014-2015. This April, a number of more than 12 mln wallets has been reported. But its not uncommon for one person to have a few wallets at once. As for the increasing number of transactions, it could be inflated by both newcomers and older users sending Bitcoins more often. The main question remains: who are the people that use the cryptocurrency? Are they male or female, and what is their average age and occupation? Who are the most famous proponents of Bitcoin? In 2014, research has been carried out by the University of Illinois Urbana-Champaign . A questionnaire has been posted on websites frequented by Bitcoin users, like Bitcoin.org, Reddit and Twitter. Two researchers, a visiting assistant professor of sociology Jeremiah Bohr and an assistant professor of library and information science Masooda Bashir , analyzed almost 1,200 responses to this survey. The results werent as great as they expected. The average age of respondents was about 33 years old and nearly half of them came from the US. Finally, the researchers gave up and stated : Surveying a random sample of the Bitcoin community is nearly impossible as Bitcoin offers a lot of pr Continue reading >>

Here's Another Key Reason To Be Wary Of Bitcoin Prices | Money

Here's Another Key Reason To Be Wary Of Bitcoin Prices | Money

Updated: December 12, 2017 12:34 PM ET | Originally published: December 8, 2017 Considering getting into bitcoin as prices soar above $15,500? Its not hard to see whythe asset has gained $8,000 in the last month. But realize this about the historically volatile currency: An estimated 1,000 people own about 40% of the worlds total bitcoin, for an average of about $105.6 million per person, according to Aaron Brown, formerly of AQR Capital Management, per Bloomberg Businessweek . Thats in part a lucky pool of investors who bet on a cryptocurrency strongly linked to the dark net just a few years earlier. But newer bitcoin investors trying to jump on board should be aware: That also means those 1,000 or so people have outsized ability to influence bitcoin prices. Thats potentially even more risky considering bitcoins value isnt based on any underlying asset, but rather largely on human sentiment. As in any asset class, large individual holders and large institutional holders can and do collude to manipulate price, Ari Paul, co-founder of BlockTower Capital and a former portfolio manager of the University of Chicago endowment, told Bloomberg. Its likely that at least some of these owners already know each other, having probably gone into bitcoin at a time when mining the cryptocurrency was easier and there were fewer people involved. (The process by which new bitcoins are released is called mining. Because of the way bitcoin works, mining the cryptocurrency becomes increasingly difficult as time goes on.) Consider the so-called father of bitcoin, the pseudonymous Satoshi Nakamoto, who began mining bitcoin when the software to mine the coins first became available in 2009. An account that is likely his now contains about 980,000 bitcoins, worth roughly $15.2 billion. Thats a Continue reading >>

Fiatleak - Watch The World's Currencies Flow Into Bitcoin In Realtime

Fiatleak - Watch The World's Currencies Flow Into Bitcoin In Realtime

- watch the world's currencies flow into bitcoin in realtime - Reserve your free user name, get free bitcoins on signup! - Share Images, Earn Bitcoin at File.Army Each trade results in a bitcoin being sent from the currency counter in red to the country on the map. The current value in bitcoin is listed in green and plotted across the map. The last exchange rate for each currency is listed in @purple and updated for each trade. Continue reading >>

Bitcoin Rich Wallets Distribution

Bitcoin Rich Wallets Distribution

You are at: Home Bitcoin Rich Wallets Distribution Fraction of all Bitcoins for top 100 addresses Fraction of all Bitcoins for top 100 wallets Fraction of all Bitcoins for top 500 addresses Fraction of all Bitcoins for top 500 wallets Fraction of all Bitcoins for top 1000 addresses Fraction of all Bitcoins for top 1000 wallets First I wish to state that, in my opinion, the data required to make good analysis of the demographics in Bitcoin is probably currently unattainable. Instead, I will rely on anecdotal evidence to try to give a good estimation of where its been and where it could go. Bitcoin Read More Bitcoin is becoming more of a fixture in mainstream media every day. However, I feel that everyone sees bitcoin as something different. Zealous Libertarians see it as a big middle finger to the government and the banking system, hackers see it as a new source of power to support Read More Money is anything widely accepted as a store of value. The idea of money exists in many forms such as currencies and commodities like dollars, yen, or gold. Since #Bitcoin is a widely-accepted currency, it too is money. Similarities to Historic Currencies A medium of exchange Currencies Read More One of the keys to allow sustainable growth of Bitcoin in the currency markets is the existence of strong channels for commerce. By this I mean the we need more merchants accepting BTC for their goods and services. Why would a merchant that has a solid business decide to begin Read More Bitcoin is used in a smorgasbord of ways now that its showed itself to be stable. With huge gains in 2017 alone, it only makes sense people want to receive bitcoin for goods and services. Here are some at the fore. Shopping Online More and more companies are adding Bitcoin Read More The largest issue I had w Continue reading >>

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