Posts about Bitcoin
We all know that Bitcoin was not always even nearly as high valued as today o even 5 years ago. There were even times when we had no real Bitcoin price chart and no way to actually now the current value of one Bitcoin, so the price was usually made by sell offers that went up for certain amounts. One of earliest ones happened on February 20th 2010.
On that date someone sold 160 BTC that he/she mined with just the use of 1 kWh energy, for the lowest price ever recorded at $0.003 cents as that person thought Bitcoin to be overvalued at 5 cents during that time. Now those 160 BTC would be worth $4M and at the ATH even $11M.
Here is the official comment from that person on the bitcoin sub:
While many may now call this person a fool, that is absolutely not true. Only a crazy person back then could have thought that Bitcoin will ever be worth even more than $1. And just like the person who bought Pizza with Bitcoin, this one wanted to make some money off it and could not have known better.
Today, 13 years ago (February 24 2010) Satoshi Nakamoto, the creator of our beloved Bitcoin, redesigned the logo of Bitcoin. The logo changed from a golden coin with a "BC" text embedded in the center:
To a golden coin with ₿ in the center:
https://i.redd.it/wxvyk2no34ka1.pngLater, on November 1, 2010, a Bitcoin forum member called Bitboy, who is not to be confused with the scammer Bitboy Crypto, released a new iteration of the Bitcoin logo based on Satoshi's redesign. The ₿ logo was tilted 14% clockwise, the orange color was added, and the ₿ logo appeared in white.
Since then, Bitboy's design has been the official logo for many years. Again, this is not the YouTuber Bitboy, thankfully.
Just a few minutes ago Bitcoin fell below the $23,000.00 support level that it had been able to maintain for over 9 days dropping to $22,997.00.
Many financial experts have declared bitcoin dead, believing that it may never recover to previous highs again.
Charlie Munger:
I told you that this thing was going to zero and nobody believed me, well do you believe me now?
Satoshi Nakamoto the creator of bitcoin did not reply to our repeated attempts at contacting him for a statement.
Michel Saylor tweeted a melting bitcoin, symbolizing the dark times we are currently living in but remains optimistic that bitcoin will rise again.
Edit: during the writing of this article bitcoin has some how gone back above $23K
Edit 2: bitcoin is again below $23k, it's extremely volatile
In this post I'll analyze the bitcoin's address distribution and ownership to see in which wallets (quantity wise) is located. The better the Bitcoin is distributed over all the wallets, the less power 'whales' will have. Also please take a note that the data is from BTC wallets, so users that store their BTC in centralized exchanges will have their BTC in the centralized exchanges hot wallet (where most of the time all the BTC is stored from all customers).
Let's start with the address distribution with their BTC balances:
There are only 4 wallets that have more than 100k BTC which is a significant amount. The circulating supply of BTC is 19,301,000.00, so each wallets have at least an ownership of 0.518% from the circulating supply.
Now let's make the data more visible:
In this graph we can conclude that the most addresses with BTC in it have between 0.001 BTC and 0.0001 BTC. The amount of zero balance addresses are 1,051,193,879 which is about 95% of all the Bitcoin wallet addresses.
If we look at the Bitcoin wallet addresses in USD:
There are 67,481 Bitcoin millionaires at the time of writing. And even 4,924 wallets have an equivalent of $10M!
If we assume that there are 8,018,923,149 people on earth and 36,456,341 Bitcoin wallets holds $1 or more worth in BTC, then we can make a fair estimation that 0.45% of the world population holds at least $1 or more worth of BTC. That's why I personally think that we're early! Also like I said at the top of the post, in this data the people that hold their BTC in CEX are not in these calculations because their BTC is in the CEX hot wallet. So we can say that at least 0.45% of the world population holds $1 or more worth of BTC.
Sources: