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Bitcoin brothers

Publish: 2021-03-29 11:35:19
1.

if the cryptocurrency exchange is the largest bitcoin warehouse, people may not be surprised. 6.7% (about $9.8 billion) of bitcoin currently in circulation are held by cryptocurrency exchanges however, more interestingly, despite the long bear market, the bitcoin reserves of these exchanges have been increasing no matter "up or down"

in the past two years, BTC inventories of eight exchanges including Kraken, bitstamp and binance have increased steadily. This is in sharp contrast to the volatility bitcoin has experienced since March 2017. These largest bitcoin holders continue to have confidence in the cryptocurrency market and continue to increase their share regardless of market conditions

if you imagine yourself as a big fish in an infill pond, it may become easier in the future. As bitco reported a few weeks ago, the number of BTCs you need to be a whale may change over time. If you believe in some theories, holding a bitcoin may give you enough power to influence the market

although others disagree, they point out that one of the 21 million bitcoins is very "insignificant". So no matter what the situation is, no matter how many bitcoins you have, keep a positive attitude

2. Bitcoin is a kind of virtual currency, which is characterized by decentralization, anonymity, and can only be used in the digital world. It does not belong to any country or financial institution, and is not subject to geographical restrictions. It can be exchanged in the world
reference link: http://wuhan.pbc.gov.cn/wuhan/2929354/3393665/index.html
3. Bitcoin is a kind of cryptocurrency based on decentralization, using peer-to-peer network and consensus initiative, open source, and blockchain as the underlying technology. The concept of bitcoin was first proposed by Nakamoto on November 1, 2008, and was officially born on January 3, 2009. Unlike all currencies, bitcoin does not rely on a specific currency institution to issue. It is generated by a large number of calculations based on a specific algorithm. Bitcoin economy uses a distributed database composed of many nodes in the whole P2P network to confirm and record all transactions, and uses cryptography design to ensure the security of all aspects of money circulation. The decentralized nature and algorithm of P2P can ensure that it is impossible to artificially manipulate the value of bitcoin through mass proction. The design based on cryptography can make bitcoin only be transferred or paid by the real owner. This also ensures the anonymity of money ownership and circulation transactions. The biggest difference between bitcoin and other virtual currencies is that the total amount of bitcoin is very limited and it has a strong scarcity

warm tips:
1. The above contents are for reference only, without any suggestions
2. Before investing, it is recommended that you first understand the risks existing in the project, and clearly understand the investors, investment institutions, chain activity and other information of the project, rather than blindly investing or mistakenly entering the capital market. Investment is risky, so we should be cautious when entering the market
response time: February 22, 2021. Please refer to the official website of Ping An Bank for the latest business changes
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4.

Let's start with a simple conclusion: a year ago, the data showed that there were about 500000 BTC

two American brothers, Cameron winkleworth and Taylor winkleworth, claiming that they owned 1% of bitcoin [1] 1% of the world's bitcoin? At present, the total amount of bitcoin in the world is about 12 million, that is to say, the two brothers hold about 120000 bitcoins< maybe you don't think it's worth much, but note that the starting price of bitcoin for these two people is less than $10 / bitcoin


Please note that entities are used instead of people. In the analysis method of this paper, bitcoin wallets that may belong to the same owner are divided into the same entity, which may be not only a person, but also a trading organization like Mt. GOx in addition, through the analysis of the most active entity table given in this paper, the income of the people with the most income (excluding expenses) is less than 700000 BTC. In other words, the person with the most bitcoin will hold no more than 700000 bitcoins. How many people in the world own bitcoins? The paper concludes that as of May 13, 2012, 1.85 million entities hold bitcoin. If we assume that bitcoin users have grown linearly since the advent of bitcoin (January 2009), the current number should be 2.5 million. Because the number of entities is counted on paper, the actual number of bitcoin holders should be a little less than this number, but not much smaller, because after all, there are not many large trading platforms

In addition to the above two problems, [3] also gives many interesting conclusions, such as:

< UL >
  • about 55% of bitcoin can be saved without money

  • in places like GOx mountain, almost all deals are small ones

  • before May 2012, almost all large single transactions (& gt; 50000 BTC) are subsequent transactions of 90000 BTC on November 8, 2011. There are very strange patterns in this long list of transactions. For example, an entity divides 90000 BTCs into different sizes, sends them back to itself three times, and then sells them on Mt. GOx. 90000 BTCs sold are sent back to the entity through 90 different bitcoin addresses, with 1000 bitcoins per address. These operations indicate that the entity appears to be trying to hide the relationship between these transactions

  • 5. Let's make a brief conclusion: according to the data a year ago, about 500000 BTCs are worth a little bit of taste:
    1) two American brothers, Cameron Winklevoss and Tyler Winklevoss, claim to hold about 1% of bitcoin in the world? Now the total amount of bitcoin in the world is about 12 million BTC, that is to say, these two brothers hold about 120000 bitcoins. Maybe you don't think these are too valuable, but note that the starting price of bitcoin for these two people is below $10 / BTC. At the current market price of $430 / BTC, the yield is...... (2) Li Xiaolai claims that he is the first person in China to hold bitcoin, holding six digit bitcoin (no video link found.)
    3) after the founder of the silk road was arrested, his 140000 bitcoin was seized by the FBI [2]
    therefore, the people who have the most bitcoin should hold more than 1% of the world's total. This can be seen from the daily BTC holdings list
    more systematic research comes from academia. The Israeli mathematician ADI Shamir (if the name is unfamiliar, he is the s in RSA algorithm) published a paper "quantitative analysis of the full bitcoin
    transaction graph" in 2012, which analyzed the transaction records of the first 18000 blocks in the special currency system (as of May 13, 2012), This paper studies some interesting problems in bitcoin market
    in their analysis results, at the end of the first 18000 blocks of chain, the entities with the most bitcoin holdings range from 200000 to 400000 BTC (the article does not give specific figures), and only one entity with more than 200000 bitcoin holdings. In history, the largest amount of money held was more than 500000 BTC, with two entities
    note that "entity" is used instead of "person". In the analysis method of this paper, bitcoin wallets that may belong to the same owner are classified as the same entity. This entity may not only be a person, but also be a trading organization such as Mt. GOx
    in addition, by analyzing the table of the most active entities given in the article, the income of the people with the most income (excluding expenses) is below 700000 BTC. In other words, the person who owns the most bitcoin will not hold more than 700000 BTC
    6.

    blockchain technology is not only the underlying technology of bitcoin, but also the core and infrastructure of bitcoin bitcoin has been running without any centralized organization operation and management. Later, bitcoin technology was abstracted, which was called blockchain technology or distributed ledger technology

    extended data:

    disadvantages of blockchain technology applied to digital currency:

    first, there is no circulation management organization for "decentralization" blockchain technology is essentially a distributed database system with one-way linked list logic structure and P2P network design mode, which determines that there is no unified central control system for virtual currency based on blockchain technology

    Second, it is difficult to effectively control the quantity supply the circulation of virtual currency based on blockchain technology is fixed, and according to Fisher Equation, the total transaction volume of the whole society under a certain price level in a certain period has a certain proportion with the required nominal currency volume, while the constant currency volume obviously can not meet the requirements of the growing total price of social goods

    Thirdly, "mining mechanism" is difficult to create recognized value bitcoin itself has no value and no national credit support. Some people think that "by continuously consuming computing power and energy to inject value into virtual currency", but it is obviously not the most efficient choice to consume millions of calculations in order to find a hash value that meets the requirements

    Fourthly, procers and early holders are easy to get high seigniorage any virtual currency based on blockchain technology is held by a few people at the initial stage of its development. Take bitcoin as an example. At first, bitcoin was only a proct of a few people's game. The first bitcoin purchase in May 2010 was $10000 BTC's purchase of $25 pizza. The first bitcoin transaction completed in July of the same year was $0.04/btc

    7.

    The wealth of Cameron Winklevoss and Tyler Winklevoss twin brothers has increased significantly. In April 2013, they held $11 million of bitcoin, which was then priced at $120. At this week's price of $11500, these bitcoins are worth more than $1 billion

    8.

    regret is sure to regret. This brother will regret that he wants to jump from a building. because 10000 bitcoins are worth about 300 million yuan now, eating pizza with more than 300 million yuan is believed to be the most expensive pizza in the world. This brother will regret that he forgot to take it when he won the lottery. If there is no accident, This will be the most regretful thing in his life. However, since he would have bought bitcoin at the beginning, it shows that he has investment consciousness. Besides bitcoin, he should have bought some other things, but these things may not make money without bitcoin, but this kind of investment consciousness is very good

    as long as we carefully observe the growth process of bitcoin, we can see the clue. When it first appeared, people who knew it would be very interested in its growth, and would often pay attention to the growth environment around it, such as the financial environment, circulation channels and so on. These environments can be said to be a very important factor in the growth of bitcoin, if you can observe this kind of growth environment in detail, you will be closer to success

    9. Bitcoin bubble resembles tulip bubble
    10. As early as April 2013, they were reported by the media to have 1% of the total circulation of bitcoin, which is estimated to reach 108000 BTC. This is just a media report, not necessarily true. Domestic bitcoin tycoon Li Xiaolai once claimed that he had six digit bitcoin. But no one knows exactly how much, and they have not disclosed their bitcoin addresses, but they do have a lot of bitcoins.
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