worhiper_-_



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Hero MemberActivity: 700Merit: 500 Bitcoin is not the currency of the people and likely never will be May 08, 2016, 05:07:42 AM #1





4.5m bitcoins are held by the top 500 richest addresses

15.5m bitcoins have been mined so far





The number of bitcoins owned by the richest holders is increasing as bitcoin grows older. Adoption could very well be a sham, because as a matter of fact the biggest holders keep accumulating more bitcoins, no matter how much bitcoin gets trader every day, this trend doesn't seem to be declining.4.5m bitcoins are held by the top 500 richest addresses15.5m bitcoins have been mined so far

Herbert2020



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LegendaryActivity: 1876Merit: 1134 Re: Bitcoin is not the currency of the people and likely never will be May 08, 2016, 06:30:41 AM #7 what is the source of this chart?



anyways the information can not be reliable when it comes to bitcoin. there is an anonymity with bitcoin and also the spread between bitcoin addresses that you can never make such conclusions and charts. nobody is keeping coins in one wallet so you can't find the real whales.



also, these top addresses are mostly mining pools, exchangers, services, .... that hold a lot of bitcoin because of the nature of their business. This space is for rent. Send PM with your offer.

odolvlobo



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LegendaryActivity: 2982Merit: 1651 Re: Bitcoin is not the currency of the people and likely never will be May 08, 2016, 07:44:51 AM

Last edit: May 08, 2016, 07:55:39 AM by odolvlobo #10



Addresses are not the same as people. Most of the top 100 addresses are used by exchanges and wallet services, and they hold bitcoins for millions of people .

. Counting the number of bitcoins that each person owns is like counting the number of dollar bills that each person owns. The results have no relevance. A person with a lot of bitcoins could still be relatively poor if all their wealth is in bitcoins, and very wealthy person could own no bitcoins at all.

Most importantly, the chart is very misleading. the reason the values in the chart are rising is that the number of bitcoins is increasing.

Quote from: worhiper_-_ on May 08, 2016, 05:07:42 AM The number of bitcoins owned by the richest holders is increasing as bitcoin grows older. Adoption could very well be a sham, because as a matter of fact the biggest holders keep accumulating more bitcoins, no matter how much bitcoin gets trader every day, this trend doesn't seem to be declining.



That statement is false. 4 years ago, the top 500 addresses held nearly 40% of the bitcoins. Today, the top 500 addresses hold less than 30% of the bitcoins. The trend is declining. There are several ways that the chart can be misinterpreted. The following must be noted:That statement is false. 4 years ago, the top 500 addresses held nearly 40% of the bitcoins. Today, the top 500 addresses hold less than 30% of the bitcoins. The trenddeclining.

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