Quote from: rpietila on November 25, 2013, 08:40:45 AM

Quote from: AnonyMint on November 25, 2013, 08:37:44 AM

Quote from: rpietila on November 25, 2013, 08:31:02 AM

Quote from: AnonyMint on November 25, 2013, 08:08:02 AM

FX to/from dollar, i.e. trading.

Hardly generates any transactions in Bitcoin network..

Are you sure? Looks to me all localbitcoin.com trades are on the public ledger.

Ah sure, but that is not "trading". And they are not sub-1mBTC, which was the issue here.

The post I was responding to was to the source of the 20 million transactions on the public ledger and whether that constitutes evidence of a large number of Bitcoin owners and thus a lower concentration of ownership. I am asserting that it is probably mostly transactions of trading, coin mixing, and SatoshiDice. Not evidence of separate ownership, just recycling amongst the small number of Bitcoin owners, some where in the realm of 350,000 to million owners perhaps.

P.S. I read a thread today about a guy who started with 5 BTC and is down to 3 BTC because he was trying to time the dips. You know many are doing that since that huge crash early in Bitcoin's life. There are numerous threads about how to hedge Bitcoin, as owners are justifiably very anxious.