Bitcoin's only intrinsic value is confidence. So "weak hands" will mean strong hands, and vice versa at some point in the future if I am correct.
An interesting metric would be: what percentage of coins are in the hands of people, for whom the holding represents X% of portfolio.
Probable answer:
Gonzalo Lira explains why anonymity is so important but Bitcoin doesn't have it.
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 8000%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions would increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.
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Also, actually acquiring bitcoins is remarkably complexand completely negates the supposed anonymity of bitcoin. Heres a Reddit editor discussing how tough it was for him to get bitcoins, which is fairly typical of retail customers: A whole lot of hassles, and he still couldnt buy any. And for all the talk of bitcoins anonymity, you need a whole truckload of verifiable documents making clear who you are in order to buy your first bitcoin. So the bitcoin-anonymity argument is a chimera.
The failure to meet that conditionbuy or sell exclusively and necessarily with bitcoinis what makes bitcoin essentially useless.
The failure to meet that conditionbuy or sell exclusively and necessarily with bitcoinis what makes bitcoin essentially useless.
Data taken from http://blockchain.info/charts
In the past 60 days bitcoin market price has increased by 8000%. If the cause of increase was widespread adoption of bitcoin as a currency, people would be making transactions. The number of transactions would increase by a similar percentage taking it to around 300000 transactions per day. The current number of transactions is around 75000 per day.
My take from the data is that bitcoin is in a massive speculative bubble. People are hoarding and not using bitcoin as a currency.