I didn't know there was a time limit to manias. When do manias expire? How was that time limit determined with certainty? Though the dot com mania is a more logical analogy than the Tulip mania.
0.01% of Bitcoin holders controls 27% of the "currency"/property in circulation
- Thread starter Nighthawk
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I didn't know there was a time limit to manias. When do manias expire? How was that time limit determined with certainty? Though the dot com mania is a more logical analogy than the Tulip mania.
It's called an asset bubble or asset mania. Tulips, Crypto, real estate, and stocks are all forms of assets.
There are many inactive wallets out there because the private keys have been lost forever. Grouping these in with "control" isn't really appropriate since no human controls them.
Quit a bit of the early coins were lost. Since they had no value people just threw them away when installing the new client software. It's not like there was an exchange or anyone willing to pay real dollars or any serious expectation that anyone would. So a study of the bitcoin blockchain that just looks at wallet addresses would be kinda flawed. They were very easy to mine with a desktop CPU and you'd get tons of the worthless things in the early days.
You can conclude from this: 1) There are many fewer bitcoin whales than the numbers make it seem, and 2) The total supply of tradable bitcoins is significantly smaller than the blockchain shows in wallets.
Quit a bit of the early coins were lost. Since they had no value people just threw them away when installing the new client software. It's not like there was an exchange or anyone willing to pay real dollars or any serious expectation that anyone would. So a study of the bitcoin blockchain that just looks at wallet addresses would be kinda flawed. They were very easy to mine with a desktop CPU and you'd get tons of the worthless things in the early days.
You can conclude from this: 1) There are many fewer bitcoin whales than the numbers make it seem, and 2) The total supply of tradable bitcoins is significantly smaller than the blockchain shows in wallets.
I'm sure a small percentage of Bitcoins are lost. But i'm sure the numbers are growing. And the more people lose their wallets the fewer the coins will be in circulation, and the more volatile Bitcoin will be since it will take less to move the market, and probably the more the price will go up since those wallets will never be able to sell.
You need to learn about Glassnode, and other blockchain analysis services.
Bitcoin is like the easy blockchain to track, to the point where you can see what wallets are losing money and which are making money during the rips & dips.