MarvinMartian

Dormant Coins, Presumed "Dead", Spent Around Bitcoin Price Peak

BITSTAMP:BTCUSD   Bitcoin / Dollar
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 http://www.cryptocoinsnews.com/news/earliest-bitcoins-seen-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.’ "
Still wondering why the dumping volume after the last ATH was so extraordinary high.. screw that, $1k+ in Jun--, Jul--, I mean, August! Actually, September. Me thinks.
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