On: .01% of Bitcoin holders hold 27% of all Bitcoin

[zaik]

* addresses

[TomK32 → zaik]

which means it could be even worse.

[drexlspivey → TomK32]

Coinbase cold storage holds billions of dollars for millions of people. Do you understand how bad this metric is now?

[ShamelessC → drexlspivey]

https://fortune.com/2022/05/11/coinbase-bankruptcy-crypto-as...

[manquer → drexlspivey]

The study excluded all the exchange wallets [1], that makes the metric if anything more conservative than it is actually.

[1] https://www.nber.org/system/files/working_papers/w29396/w293...

[jazzyjackson → drexlspivey]

Is there a benefit to consolidating all those coins into bulk wallets?

Why not have an address associated with each user?

[drexlspivey → jazzyjackson]

Yes consolidating outputs significantly reduces transaction fees

[joshcryer → drexlspivey]

Not your keys, not your coins.

[dosenbrot → TomK32]

Or maybe better. In the first days of bitcoin nobody cared about a lost key. A few thousand bitcoin on an account nobody has access to? These bitcoin shouldn’t count, but it’s hard to count them. Maybe declare all bitcoins that didn’t move since eight years as lost?

[randomhodler84 → dosenbrot]

And this is a stupid metric too. I have utxos that old that will be unspent for another 5y+

I don’t care about Bcash and other worthless forks and I could tell it was an attack to unmask old utxos.

[bufferoverflow → TomK32]

It's probably not. Exchange hot and cold wallets hold insane amounts, but most of that money doesn't belong to them, it's their clients'.

[tshaddox → TomK32]

Or less worse.