a thoughtful web.
Good ideas and conversation. No ads, no tracking.   Login or Take a Tour!
comment by kleinbl00

Please correct me if I'm wrong, but that table says nothing more than 55% of Bitcoin addresses don't have any BTC in them. In other words, they were wallets that were created and never filled, or created, filled and emptied. Pretty sure four or more of them are mine. That was the whole point - it's a transitory, untraceable currency where these random-ass numbers equal money and you shouldn't hold onto those random-ass numbers for too long because then you're more likely to lose the money in them and any transaction fee is greater than zero.

I mean insomniasexx - how many wallets an hour are you generating at this point? And ETH is the #2 crypto, not the #1.





mk  ·  2597 days ago  ·  link  ·  

From what I understand, 0 balance addresses aren't counted here. There's around 500k addresses created per day.

    That was the whole point - it's a transitory, untraceable currency where these random-ass numbers equal money and you shouldn't hold onto those random-ass numbers for too long because then you're more likely to lose the money in them and any transaction fee is greater than zero.

Funny thing about how bitcoin works, is that addresses don't hold balances. To determine the value of any given address, you need to sum all transactions the led to that address from the genesis block. That makes transactions from active addresses require more data, which increases the transaction fee.

kleinbl00  ·  2597 days ago  ·  link  ·  

So those are the addresses where the money is a rounding error. In your chart, that's 8 million addresses with a combined value of $2m. So basically, any wallet created between July 2009 and February 2011 is going to have had transactions with btc values of non-zero but dollar values (just as an example) of less than a cent.