I was interested whether early Bitcoins are also traded on exchanges and contribute to price shaping. Apparently not. I extracted the time [block height] of unspent transaction outputs. Below is the plot of the time bitcoins were last used. Time is expressed in 1000 block units (approximately 1 week). For each 1000 blocks the total number of bitcoins last used in these 1000 blocks is show. For two big outliers the block numbers and the BTC values are printed to the right.
The plot below shows the cumulative number of unspent bitcoins starting from the beginning of bitcoin mining.
It looks like a large number of bitcoins is waiting in very old accounts untouched for many years. Approximately 30% of bitcoins have not been touched for more than 2 years. So a total of 15% of all bitcoins to by mined are still in the hands of developers and early adopters. This is not much, given the value they created for the global financial system :-)
The plot below shows the cumulative number of unspent bitcoins starting from the beginning of bitcoin mining.
It looks like a large number of bitcoins is waiting in very old accounts untouched for many years. Approximately 30% of bitcoins have not been touched for more than 2 years. So a total of 15% of all bitcoins to by mined are still in the hands of developers and early adopters. This is not much, given the value they created for the global financial system :-)