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[privacy] How many Bitcoin chips are out there?
by
LoyceV
on 23/08/2022, 11:07:42 UTC
⭐ Merited by ETFbitcoin (9) ,DdmrDdmr (7) ,hugeblack (6) ,dkbit98 (3) ,Pmalek (3) ,TryNinja (2) ,SFR10 (1) ,albert0bsd (1)
ChipMixer started in 2017. It provides privacy by dividing Bitcoin into indistinguishable chips of the same size, starting with 0.001 BTC, and doubling the size up to 4.096 BTC (and since 2018 up to 8.196 BTC).
Chips existed long before ChipMixer, and anyone can create them on their own. For a while now, I've been curious how many chips are out there. The more there are, the better privacy they offer. So I collected the data Smiley

I took Blockchair's Bitcoin data, and used the following assumptions:
  • Any address with a deposit of 0.001, 0.002, 0.004, 0.008, 0.016, 0.032, 0.064, 0.128, 0.256, 0.512, 1.024, 2.048, 4.092 or 8.196 BTC can be a chip.
  • Any address that received more than one deposit is not a chip.
  • Any address that sent more than one transaction is not a chip.
  • Chips are counted if they're still funded at the end of a day.
  • Chips are not counted from the day they're emptied.

The first chip
The first chip was created on April 29, 2011, with a size of 0.016 BTC.

Full data
As far as I know there are no false positives or negatives in my data. If anyone's interested in the full data (27 GB of "which chip exists on which day"), let me know.

Graphs
To keep the number of graphs manageable, I'll limit myself to Legacy addresses (starting with 1: solid lines) and native Segwit addresses (starting with bc1q: dotted lines).
Note: check the scale for each graph, I zoom in on the vertical axis to better show the larger chips.

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(0.001/4.096 and 0.002/8.196 have the same color, but it should be obvious based on the numbers which line is which)

No frequent updates
Currently, my data ends on August 20, 2022.
Processing the data takes a while, and updating the graphs is a lot of work. So don't expect too frequent updates, maybe in a few years, or maybe when Taproot becomes more popular.

No spam
Self-moderated against spam. Discussion is of course welcome.