Bitcoin ownership distribution

Bitcoin and other cryptocurrencies: Do they have a future?

Note:  Bitcoin ownership distribution The value shown for “shares” represents total number of bitcoins held by the iShares Bitcoin Trust.

Bitcoin distribution chart

The statistic in question comes from BitInfoCharts, a website that tracks the distribution of bitcoin across all known Bitcoin addresses. The website calculates the data from publicly available Bitcoin information but the data is a) not really reliable b) doesn’t really tell the whole story, and c) shouldn’t be used to draw such extreme conclusions. Here’s why. Related categories “Ever wondered about the distribution of wealth in different cryptocurrencies? Here’s a snapshot:

Bitcoin address doesn’t mean Bitcoin user

Table of Contents Imported commodities Nonetheless, this skewed distribution of a relatively small number of wallets controlling most BTC in circulation is still disappointing for the masses, as more of the world should have given Bitcoin a chance when owning even just 0.1 BTC was within reach of at least 25% of the world’s population up until a few years ago.

Bitcoin distribution chart

In fact, this October 31 marks the anniversary of the day when, in 2008, Satoshi Nakamoto released his groundbreaking paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System,” to the world. Finance &The Enterprise Diary A public key is what determines the ownership of bitcoins, and is very similar to an ID number. If someone wanted to send you bitcoins, all you would need to do is supply them your bitcoin address, which is a version of your public key that is easier to read and type. For example, if Bob has 1 bitcoin at the bitcoin address "ABC123," and Alice has no bitcoins at the bitcoin address "DEF456," Bob can send 0.5 bitcoins to "DEF456." As soon as the transaction is processed, Alice and Bob both have 0.5 bitcoins. Anyone using the system can see how much money "ABC123" has and how much money "DEF456" has, but they cannot tell anything about who owns the address.