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Bitcoin Ownership Distribution

The United States Of Bitcoin?

The United States Of Bitcoin?

Analysis suggests crypto interest and existing wealth go hand-in-hand. Blockchain technology may operate on the principles of distribution, transparency, and decentralization, but is its most revolutionary application cryptocurrency truly democratizing the financial landscape of the United States of Bitcoin? Recent data from Google Trends show that search that search interest for Bitcoin, the most valuable and widely used cryptocurrency, is most interesting to individuals in Hawaii, Washington, California, New York, and other high-income states. When compared to a full list of US States ranked by median household income , the difference of interest in Bitcoin between high-income and low-income states becomes apparent of the top 20 states searching for Bitcoin, 16 are listed in the top 20 wealthiest US states. Its clear that theres an obvious disparity between low and high-income states when it comes to cryptocurrency investing. Hawaii, which boasts the second-highest median household income in the US is the number one state when it comes to interest in Bitcoin. Mississippi, however, is the lowest-ranking US state by both interest in Bitcoin and median household income. The United States of Bitcoin looks remarkably like the United States of The Dollar. What does this mean for the democratization of currency that Bitcoin and other cryptocurrencies promise us? Has cryptocurrency been co-opted into another avenue for wealth to flow into the hands of the financial elite? Bitcoin Wealth Distribution Mirrors Fiat Distribution The distribution of Bitcoin interest throughout the United States can be considered to represent a microcosm of the distribution of wealth throughout the entire Bitcoin blockchain. Its arguable that individuals living in high-income states have access to Continue reading >>

Bitcoin And Blockchain Will Reveal What They're Actually Good For In 2018 | Wired

Bitcoin And Blockchain Will Reveal What They're Actually Good For In 2018 | Wired

Every successful new technology undergoes a Cambrian Era-style explosion of growth in which we try to use it for everything. Email, search, social networkingeach passed through its this will solve all our problems! phase before we figured out what its best applications and limitations were. With the Bitcoin bubble testing astronomical prices every day, cryptocurrencies and the blockchain technology that drives them are now taking their turn in this one-tech-fits-all role. Scott Rosenberg is a journalist, editor, blogger, and non-fiction author, as well as a cofounder of Salon Media Group and Salon.com. Sign up to get Backchannel's weekly newsletter, and follow us on Facebook , Twitter , and Instagram . A blockchain is a cryptographically protected distributed ledgerits what protects you or anyone else from making a copy of that Bitcoin you just bought. Youve probably heard about the popularity of blockchain tech in the financial business. In fact, anything that you can make a list of, you can manage with blockchains. Ambitious developers and entrepreneurs are aiming to use them to rework everything from how we track land ownership to how we distribute medicine and how we grant diplomas. Some of these ideas are brilliant, while others are ridiculous. Do we really need a blockchain to run an online encyclopedia or pay for news ? Whether we do or not, in 2018, were probably going to see it tried. Thats partly because of a glut of venture capital and the salivation of investors thrilled by Bitcoins wild ride. But its also because this is the exuberant but wasteful process by which the tech industry determines what each new platform is actually good for. And its a process that will play out whether the Bitcoin bubble keeps soaring or finally pops. In the coming year, the mo Continue reading >>

Faq - Bitcoin

Faq - Bitcoin

Find answers to recurring questions and myths about Bitcoin. Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen. From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence. Bitcoin is the first implementation of a concept called "cryptocurrency", which was first described in 1998 by Wei Dai on the cypherpunks mailing list, suggesting the idea of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. The first Bitcoin specification and proof of concept was published in 2009 in a cryptography mailing list by Satoshi Nakamoto. Satoshi left the project in late 2010 without revealing much about himself. The community has since grown exponentially with many developers working on Bitcoin. Satoshi's anonymity often raised unjustified concerns, many of which are linked to misunderstanding of the open-source nature of Bitcoin. The Bitcoin protocol and software are published openly and any developer around the world can review the code or make their own modified version of the Bitcoin software. Just like current developers, Satoshi's influence was limited to the changes he made being adopted by others and therefore he did not control Bitcoin. As such, the identity of Bitcoin's inventor is probably as relevant today as the identity of the person who invented paper. Nobody owns the Bitcoin network much like no one owns the technology behind email. Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the s 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 >>

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 >>

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 >>

The Distribution Of Bitcoin Wealth [oc] : Dataisbeautiful

The Distribution Of Bitcoin Wealth [oc] : Dataisbeautiful

A place for visual representations of data: Graphs, charts, maps, etc. DataIsBeautiful is for visualizations that effectively convey information. Aesthetics are an important part of information visualization, but pretty pictures are not the aim of this subreddit. Directly link to the original source article of the visualization (not an image file) or tag the post as [OC] if you made the visualization. [OC] posts must state the data source and tool(s) used in a comment. Only tag a post as [OC] if you made it yourself . Requests and questions must include a visualization. More info . Post titles must describe the data plainly without using sensationalized headlines . Clickbait posts will be removed. Posts regarding American Politics , or contentious topics in American media, are only permissible on Thursdays ( ET ). Please read through our posting guidelines if you are new to posting on DataIsBeautiful. Comments should be constructive and related to the visual presented. Special attention is given to root-level comments. Short comments and low effort replies are automatically removed. Hate Speech and dogwhistling are not tolerated and will result in an immediate ban. Personal attacks and rabble-rousing will be removed. Moderators reserve discretion when issuing bans for inappropriate comments. Do you like contributing sharp-looking graphs? Are you an official practitioner or researcher? Read about what kind of flair is right for you! Data from Star Trek? Data ARE? How do I make one? Read the FAQ How do I make a good post? Read the guide If you want to post something related to data visualization but it doesn't fit the criteria above, consider posting to one of the following subreddits. Data_IRL : Feeling the need to be hilarious? Go here. Data. DataVizRequests : Request Continue reading >>

Bitcoin - Statistics & Facts

Bitcoin - Statistics & Facts

Bitcoin, also called a mobile currency or a crypto currency, was created in 2009 by Satoshi Nakamoto, a mysterious individual or a group of people whose true identity is still unknown today. The main idea behind the establishment of this virtual currency was to enable quick and cheap online payments without the need to use traditional banking channels. Bitcoin gained in popularity when its price jumped from around 572.33 U.S. dollars in August 2016 to approximately 4,764.87 U.S. dollars in August 2017. The number of Bitcoin ATMs increased from 954 in January 2016 to 1,587 by October that year. Most Bitcoin ATMs , as of October 2017, were located in the United States (911) and Canada (244). The Bitcoin ATMs located in Europe as of October 2017 constituted 21.11 percent of the global ATM market share . The leading ATM producer worldwide as of Octber 2017 was Genesis Coin, with 45.94 percent of the market share. However, the future of this virtual currency is yet unknown. If the most important difficulties are overcome and people all over the world start to trust in Bitcoin, it might become one of the most popular online payment means. This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text. Continue reading >>

Bitcoin By Numbers: 21 Statistics That Reveal Growing Demand For The Cryptocurrency

Bitcoin By Numbers: 21 Statistics That Reveal Growing Demand For The Cryptocurrency

Bitcoin by Numbers: 21 Statistics That Reveal Growing Demand for the Cryptocurrency By whatever metric you care to measure it, 2017 has been a record-breaking year for bitcoin. From transactions to trading volume, and from wallet installations to market cap, every possible metric has been surpassed, shattered, and then shattered again. The cryptocurrency world evolves at such a dizzying pace that it can be hard to take in the magnitude of everything thats happening in bitcoin. In the words of Ferris Bueller, If you dont stop and look around once in a while, you could miss it. As an intangible digital currency, it can be hard sometimes to appreciate where bitcoin is at and how far its come from such humble beginnings less than nine years ago. The following stats help bring bitcoin to life, making it easier to visualize the state of the network today. (Note: all figures are averages and were accurate at the time of publication.) 96: countries where bitcoin usage is unrestricted. Bitcoin statistics for the week ending November 1st. $12.8 million: mining rewards in the last 24 hours. 326,000: bitcoin transactions confirmed in the past 24 hours. 96%: amount of bitcoin owned by just 4% of addresses (containing 2.9 million BTC). 457,000: number of addresses richer than $10,000. 715,000: number of active addresses in the last 24 hours. $19 billion: value of the 100 richest bitcoin addresses. 500,000: number of Bitcoin.com wallets downloaded. 400,000: number of subscribers on r/Bitcoin . 12 million: number of Coinbase users (1 million of whom were added in the past three weeks). 18.5 million: number of Blockchain.info wallets. 80,000: number of bitcoin tweets sent per day. For anyone who wants to geek out on more bitcoin stats, Cryptocompare , Onchainfx , Bitinfocharts and of c Continue reading >>

Bitcoin Ownership Distribution

Bitcoin Ownership Distribution

15 Sep 2017 Probably the most visible application of blockchains right now isthe virtual currency Bitcoin which has often hit the news for rapid gains in value but in fact there are over 2,000 other tokens and currencies based on distributed, cryptographical technology. Collectively they are known as cryptocoins orBitcoins can also be exchanged in physical form such as the Denarium coins, but paying with a mobile phone usually remains more convenient. Bitcoin balances are stored in a large distributed network, and they cannot be fraudulently altered by anybody. In other words, Bitcoin users have exclusive control over their funds linode bitcoin Bitcoin mining pool hashrate distribution - City Sensors portfel bitcoin National Security Implications of Virtual Currency - RAND Corporation new bitcoin wallet Originally developed as the accounting method for the virtual currency Bitcoin, blockchains which use what's known as distributed ledger technology (DLT) . could be usefully applied to voting systems, weapon or vehicle registrations by state governments, medical records, or even to confirm ownership of antiquities or Researchers Find That One Person Likely Drove Bitcoin From $150 Bitcoin technology patents - octimine technologiesSo that does have a very significant effect on the price of Bitcoin. 'Second, we have rapid demand changes. Suddenly there are loads of buyers, everyone wants to get into Bitcoin, then just as suddenly they don't. It's very volatile. 'Third, the ownership distribution of Bitcoin about 50 people seem to control half of all the bitcoin growth since 2010 30 Jul 2017 How do I claim my Bitcoin Cash? Ownership of bitcoin is stored in a distributed ledger called the blockchain. In other words, the computers in the bitcoin network record how much Bitcoi Continue reading >>

Bitcoin - Wikipedia

Bitcoin - Wikipedia

Unspent outputs of transactions denominated in any multiple of satoshis [3] :ch. 5 12.5 bitcoins per block (approximately every ten minutes) until mid 2020, [7] and then afterwards 6.25 bitcoins per block for 4 years until next halving. This halving continues until 2110–40, when 21 million bitcoins will have been issued. ^ The symbol was encoded in Unicode version 10.0 at position U+20BF ₿ BITCOIN SIGN in the Currency Symbols block in June 2017. [2] Bitcoin is a worldwide cryptocurrency and digital payment system [8] :3 called the first decentralized digital currency , as the system works without a central repository or single administrator. [8] :1 [9] It was invented by an unknown person or group of people under the name Satoshi Nakamoto [10] and released as open-source software in 2009. [11] The system is peer-to-peer , and transactions take place between users directly, without an intermediary. [8] :4 These transactions are verified by network nodes and recorded in a public distributed ledger called a blockchain . Bitcoins are created as a reward for a process known as mining . They can be exchanged for other currencies, [12] products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment. [13] Bitcoin can also be held as an investment. According to research produced by Cambridge University in 2017, there are 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin. [14] The word bitcoin first occurred and was defined in the white paper [15] that was published on 31 October 2008. [16] It is a compound of the words bit and coin . [17] The white paper frequently uses the shorter coin. [15] There is no uniform convention for bitcoin capitalization. Some sources use Bitcoin, capitalized, to 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 >>

The 65 Percent Price Dip Has Made Bitcoin Whales A Lot More Btc

The 65 Percent Price Dip Has Made Bitcoin Whales A Lot More Btc

The 65 Percent Price Dip Has Made Bitcoin Whales A lot More BTC Last year bitcoin had a phenomenal run leading up to its all-time high of $19,600 per BTC this past mid-December. The price over the past few weeks had since dipped to a low of $5,900 on Monday, February 5, losing close to 65 percent of its value in a short period. The dip has rekt a lot of cryptocurrency traders but the richest bitcoin holders have gained thousands more BTC taking full advantage of these significant price variances. Following Money Through the Bitcoin Laundry Is Not So Easy Bitcoin Whales Use Big Price Swings to Accumulate More Wealth Cryptocurrency enthusiasts understand that digital currencies often fluctuate in price and over the years many traders have been able to take advantage of these swings. Essentially if a trader can guess the top and sell their bitcoins, then follow that maneuver by buying back in at the bottom, that individual can gain a lot more coins. One particular group of BTC holders that have taken advantage of these swings time and time againare the top 100 richest bitcoin whales . The individuals or groups of people known as bitcoin whales hold vast quantities of cryptocurrency and they can sometimes use their assets to move the market. According to data collected from Bitinfocharts.com most of the 100 richest BTC addresses havent lost any money during the last 65 percent dip In fact, their stacks of BTC increased exponentially. The Richest Address Has Gained An Exponential Number of Bitcoins Since 2016 Take for instance the owner of the most substantial amount of bitcoins located in one address which currently holds 167,000 BTC at the time of writing. The wallet started collecting BTC approximately two years ago when the address recorded its first deposit of roughly Continue reading >>

Concentration Of Bitcoin Ownership. Another Road To Serfdom? : Bitcoin

Concentration Of Bitcoin Ownership. Another Road To Serfdom? : 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 >>

The 8 Biggest Bitcoin Players Who Could Make A Fortune Off The Cryptocurrency

The 8 Biggest Bitcoin Players Who Could Make A Fortune Off The Cryptocurrency

There are plenty of well-known critics of Bitcoin in the banking and business worlds. Recently, Jamie Dimon, chief executive of JPMorgan Chase & Co., called the cryptocurrency a fraud and said it would blow up. He even went so far as to say he would fire anyone who traded Bitcoin because they are stupid. But not everyones so dismissive. Bitcoin has had a bullish run in 2017, rising from $966 at the start of the year to a record high of more than $6,000 this month, and some major holders of the currency are no doubt looking to cash in on its value. The names might surprise you. While Bitcoins allows for anonymity, using strings of letters and numbers to identify sources of transactions, certain people have publicly revealed that theyre enthusiastic users. Here are the people with the biggest known stakes in Bitcoin. You likely know Tyler and Cameron Winklevoss, who tried and failed to gain control of Facebook after alleging that it had been appropriated from them, thanks to Armie Hammers satirical portrayal of both siblings in The Social Network. But the Winklevii have a second act in their enormous Bitcoin investment. While they were shut out of creating a Bitcoin exchange traded fund (ETF) , their 2013 investment in $11 million worth of Bitcoin (which reportedly amounted to one percent of all the currency in circulation) looks pretty rosy now. That same amount is worth approximately 21 times as much now, putting their total at about $231 million. Silbert, a venture capitalist and founder of Digital Currency Group , was an early proponent of Bitcoin. He reportedly nabbed 48,000 Bitcoins in an auction held by the U.S. Marshals Service in 2014 ( the government had seized much of the currency from Silk Road, an online marketplace it said was used for illegal drugs). Bitco Continue reading >>

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