Dormant Coins, Presumed "Dead", Spent Around Bitcoin Price Peak
An interesting read... for keeping things in perspective. 30% of Bitcoins are dormant. That's a HUGE destabilizing factor.
Putting faith in whales not dumping because they lost interest is a strong investment strategy? I guarantee a lot more will
be dumped if we ever move past the $700 realm.
Excerpts from the article www.cryptocoinsnews....en-moving/2014/08/04 :
"Transaction records in the blockchain show that bitcoins mined during the earliest days of Bitcoin have been transacted during the past year – after remaining ‘dormant,’ for the most part untouched, since being mined between 2009-2011."
"The bulk of these 67,000 coins (worth $67mil) were transacted during the months surrounding the Bitcoin all-time-high price in November 2013."
"What is of significance, instead, is that we now have proof that the addresses relating to the earliest Bitcoin mining rewards – assumed ‘dead’ coins for a long time – have, in fact, been controlled by people, and that they exercised that control during the past year."
"John Ratcliff’s research shows that approximately 30% of all early bitcoins are still dormant: Their worth, in US Dollars, is in the billions with a ‘b.’ "
Putting faith in whales not dumping because they lost interest is a strong investment strategy? I guarantee a lot more will
be dumped if we ever move past the $700 realm.
Excerpts from the article www.cryptocoinsnews....en-moving/2014/08/04 :
"Transaction records in the blockchain show that bitcoins mined during the earliest days of Bitcoin have been transacted during the past year – after remaining ‘dormant,’ for the most part untouched, since being mined between 2009-2011."
"The bulk of these 67,000 coins (worth $67mil) were transacted during the months surrounding the Bitcoin all-time-high price in November 2013."
"What is of significance, instead, is that we now have proof that the addresses relating to the earliest Bitcoin mining rewards – assumed ‘dead’ coins for a long time – have, in fact, been controlled by people, and that they exercised that control during the past year."
"John Ratcliff’s research shows that approximately 30% of all early bitcoins are still dormant: Their worth, in US Dollars, is in the billions with a ‘b.’ "