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FTA: "The authors found that participation in Bitcoin is skewed toward the elite. Their research showed that at the end of 2020, there were 1,000 “clusters”
by pjmorris 5y ago
FTA:
"The authors found that participation in Bitcoin is skewed toward the elite. Their research showed that at the end of 2020, there were 1,000 “clusters” controlling 2 million bitcoins." (and 4 million among the top 10,000 accounts)
This claim doesn't distinguish between wealthy people who acquired bitcoin and people who are now wealthy because they acquired bitcoin.
- gruez 5y ago>and 4 million among the top 10,000 accounts How are they defining "accounts"? Bitcoin addresses? It's hard to take them seriously if that's the case, because many people can be sharing one bitcoin address (custodial wallets, exchanges) and a single person can have many bitcoin addresses (most wallet software generate fresh addresses for each transaction). Drawing any conclusion from such flawed methods seems highly irresponsible.
- varajelle 5y agoFrom the article: > The authors clustered addresses so that all addresses that sent bitcoins in any single transaction were deemed to belong to the same entity.
- varajelle 5y agoAnd those who could have been wealthy if they did not loose their private keys