3. Dec 2013
Total: 11.6M bitcoins (0.5M bitcoins assumed lost)
1,200,000 people own bitcoins that are valued at more than $1 (BTC0.001 or more)
280,000 people own bitcoins that are valued at more than $1,000 (BTC1 or more), up from 120,000 last month
930 people own bitcoin that are valued at more than $1 million (BTC1,000 or more)
1 person owns bitcoins that are valued at more than $1 billion (Satoshi, estimated to be BTC980,000)
Changes from previous month:
- Bitcoin total number adjusted to account for increase in money supply
- Thoroughly re-engineered the number of bitcoin users from original data of the userbases of several services + blockchain usage. This shows that the last month estimate was probably too small, and perhaps 50% of the growth in number of users can be attributed to correction of a previous underestimate.
- Corrected the highest bracket a little bit (BTC0.6M
) upwards because it was over-corrected downwards last time. Number of holders in this category went down a little but we have better estimate of the holdings. As this is a base case model, we do not assume large, completely anonymous entities without at least circumstantial evidence of their holdings.
- Number of people in each bracket behaves according to binomial distribution as found in another data with the parameters: total=1.2 million users, highest bracket=fixed, #of_coins=fixed.
As a result:
- Bracket 1,000-10,000 saw the greatest loss -20%, bracket 100-1,000 lost 10%. Sub-BTC10 holdings gained a lot.
| #People | #Bitcoins | #TotalBitcoins |
| 47 | BTC10k+ | 3.5M |
| 880 | BTC1k-10k | 2.6M |
| 10k | BTC100-1k | 3.0M |
| 63k | BTC10-100 | 1.8M |
| 210k | BTC1-10 | 0.6M |
| 350k | BTC0.1-1 | 0.1M |
| 350k | BTC0.01-0.1 | 0.0M |
| 210k | BTC0.001-0.01 | 0.0M |
Total: 11.6M bitcoins (0.5M bitcoins assumed lost)
1,200,000 people own bitcoins that are valued at more than $1 (BTC0.001 or more)
280,000 people own bitcoins that are valued at more than $1,000 (BTC1 or more), up from 120,000 last month
930 people own bitcoin that are valued at more than $1 million (BTC1,000 or more)
1 person owns bitcoins that are valued at more than $1 billion (Satoshi, estimated to be BTC980,000)
Changes from previous month:
- Bitcoin total number adjusted to account for increase in money supply
- Thoroughly re-engineered the number of bitcoin users from original data of the userbases of several services + blockchain usage. This shows that the last month estimate was probably too small, and perhaps 50% of the growth in number of users can be attributed to correction of a previous underestimate.
- Corrected the highest bracket a little bit (BTC0.6M
) upwards because it was over-corrected downwards last time. Number of holders in this category went down a little but we have better estimate of the holdings. As this is a base case model, we do not assume large, completely anonymous entities without at least circumstantial evidence of their holdings.- Number of people in each bracket behaves according to binomial distribution as found in another data with the parameters: total=1.2 million users, highest bracket=fixed, #of_coins=fixed.
As a result:
- Bracket 1,000-10,000 saw the greatest loss -20%, bracket 100-1,000 lost 10%. Sub-BTC10 holdings gained a lot.
I have been tracking my bitcoin holding total on http://btc.ondn.net/search for a couple of weeks and I observe that my rank has been moving lower, meaning that there are likely fewer holders with more than BTC me than there were two weeks ago. I think that my rank has improved because I am holding beyond the 100-1000x price increase that tempted other early adopters to sell. Notably my rank improved the most during the crash/correction of December 4-6.
I expect this trend to continue, and will look for it in your updates.