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.’ "
HerSerenity
2 years ago
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.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out