12-10-2021, 05:16 AM
1.26% of all circulating bitcoin is held by 85% of the total addresses while 63% Bit
<!-- SC_OFF --><div class="md"><p>This latest buy from MicroStrategy (Michael Saylor's Company) of Bitcoin has made this inequality very apparent to me- the big becomes bigger and the small becomes smaller. (proportionately speaking) </p> <p>The most shocking figure for me was that the majority of people- close to 85% of the total wallet address who holds BTC- holds less than 1BTC in their account while only 0.04% of the total wallet addresses holds more than 100 BTC each accounting to the collective ownership of close to 63% circulating bitcoin. </p> <p>I always thought that Bitcoin was a means to erase this rampant and corrupt inequality, alas, as reference to the real world- the rich will grow richer and richer by each passing day. The freedom to invest a huge sum and let that sum grow is a luxury not all of us can have.</p> <p>Edit 1- I love Bitcoin, i love the technology, what i don't love is this inequality in the ownership.</p> <p>Edit 2- Central exchanges holding Bitcoin: Can we approximate the number of Bitcoin held by central exchange and then assume that a large chunk of it is held by small retail players because players with significant numbers of Bitcoin would migrate to their personal wallet. </p> <p>Maximum amount held by exchange should not be more than 10-12% (according to a dated article published this year) so if we reduce that from the current number 63%, 50% is still held by 0.04% and that still is a significant amount? Does this argument hold?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rcosnl/126_of_all_circulating_bitcoin_is_held_by_85_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rcosnl/126_of_all_circulating_bitcoin_is_held_by_85_of/">[comments]</a></span>Kind Regards R
<!-- SC_OFF --><div class="md"><p>This latest buy from MicroStrategy (Michael Saylor's Company) of Bitcoin has made this inequality very apparent to me- the big becomes bigger and the small becomes smaller. (proportionately speaking) </p> <p>The most shocking figure for me was that the majority of people- close to 85% of the total wallet address who holds BTC- holds less than 1BTC in their account while only 0.04% of the total wallet addresses holds more than 100 BTC each accounting to the collective ownership of close to 63% circulating bitcoin. </p> <p>I always thought that Bitcoin was a means to erase this rampant and corrupt inequality, alas, as reference to the real world- the rich will grow richer and richer by each passing day. The freedom to invest a huge sum and let that sum grow is a luxury not all of us can have.</p> <p>Edit 1- I love Bitcoin, i love the technology, what i don't love is this inequality in the ownership.</p> <p>Edit 2- Central exchanges holding Bitcoin: Can we approximate the number of Bitcoin held by central exchange and then assume that a large chunk of it is held by small retail players because players with significant numbers of Bitcoin would migrate to their personal wallet. </p> <p>Maximum amount held by exchange should not be more than 10-12% (according to a dated article published this year) so if we reduce that from the current number 63%, 50% is still held by 0.04% and that still is a significant amount? Does this argument hold?</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/tanmay1010"> /u/tanmay1010 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rcosnl/126_of_all_circulating_bitcoin_is_held_by_85_of/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/rcosnl/126_of_all_circulating_bitcoin_is_held_by_85_of/">[comments]</a></span>Kind Regards R