90% of All Bitcoins reside in 1% of Bitcoin adresses

Without liquidity "suckers" Bitcoin is usless to the early adopters.

investopedia.com/articles/04/042104.asp
The Scheme

As its name indicates, the pyramid scheme is structured like a pyramid. It typically starts with one person - the initial recruiter - who is on top at the apex of the pyramid. This person recruits a second who is required to "invest" a certain amount, which is paid to the initial recruiter. In order to make his or her money back, the new recruit must recruit more people under him or her, each of whom will also have to invest. If the recruit gets 10 more people to invest, he or she will make a profit with just a small investment.

Further, the new people become recruiters and each one is in turn required to enlist an additional 10 people, resulting in a total of 100 more people. Each of those new recruits is also obligated to pay their investment to the person who recruited him or her. Recruiters get a profit of all of the money received, minus their initial investment paid to the person who recruited them. The process continues until the base of the pyramid is no longer strong enough to support the upper structure, and there are no more recruits.

Newsflash: Rich people crash shit all the time.

cryptocoinsnews.com/bitcoin-sell-wall-death-chomped/

30k sell wall chomped like nothing.

this is patently false

a lot of the "richest addresses" are probably holding coins on behalf of customers or a company. they do not represent individual wealth.

And the reality is that you have no idea.

What is reality is the wealth is very concentrated.

In places like Coinbase and BTC China, just as banks concentrate USD

Yes Coinbase. The same place that is about to have a fake fight with the IRS that the IRS is going to win.

Bitcoin = the 1% rebranded

Aren't there large Chinese corps that own huge warehouses of servers to mine every last coin? I thought I remember seeing people investing in infrastructure in Iceland because of tax benefits + cold weather

Reminder that if the Private Key to a Bitcoin wallet is lost, those coins are lost forever.

I'd bet that of those top 114 wallets, there's no access to 100 of them. Those 2.5 million + bitcoins are lost forever.

>90% of All Bitcoins reside in 1% of Bitcoin adresses

That feel when you part of the 0.13%

Feels great man.

>coping this hard
I can understand.

>tfw $ 1k later this week

is there supposed to be a problem with that? bitcoin isnt communist shit, its not about getting something for nothing.

I already know what it's gonna do.

Do you?

Still wouldn't touch it with a ten foot pole.

Nothing in life is free.

They are the same cucks that will defend the Rothchilds and the Rockefellers etc having 99% of money out there WHILE being able to print money out of nowhere at will vs a system where people has what they deserve based on laws of physics (risk/reward) and it's impossible to scam (to create money supply at will), not to mention the claims of BTC distribution ITT are fucking retarded,

They don't deserve to get rich from BTC and they will not.

doesnt matter what you think it will do now, you already missed the boat. if you havent already made 6 figures+ from bitcoin youve lost.

>bitinfocharts.com/top-100-richest-bitcoin-addresses.html

Is this site trustworthy? Am I reading this right?
Out of the top 100 addresses 60 have never had an outgoing transaction?

That seems really strange to me...

I thought so too. But of those 100 every single one is shown as having had an incoming transaction in 2016. Who the fuck would continue to put BTC into an inactive wallet?

I think it goes the other way. A lot of the richest addresses are probably just the same people opening different wallets to spread their risk out. I'd be very surprised if there's more than 50 owners among those 100 addresses. There's 21 wallets with an even 10k BTC in them and a bunch of other very even numbers higher up the list. It's obvious they're just distributed storage and not individual people. If there's no cost associated with opening a new wallet, there's essentially no reason to keep all your wealth in one place with very high risk of loss and tracability.

>being this short sighted

Holy shit, stay away from trading.

Bitcoin is breaking out of a bull pennant (look it up), and is shooting for the moon right now.

Expect 1k this week, and once that happens things are going to really pick up.

change address is my guess. and right about the distribution. the number of addresses per individual goes up as the risk/value goes up.

this also ignores all the retail users' balances stored in shared addresses at places like coinbase.

that said there are defnitely thousands of users with 100+ bitcoins.

Technical assessments of trading patterns are a mask for High Frequency Trading algos programmed to do whatever the programmer tells it to.

Simply put the patterns are programmed and then "technical experts" point them out as if they were real.

Clever illusion.

Turing test complete on you.

You're joking right? You really expect it to hit 1k and then skyrocket to 3-4k?

1k is a major milestone which will receive tons of press coverage.

Especially in places like Europe, this will prompt a lot of interest from people who are weary of their failing currencies and government policies.

You're a bit too optimistic lad.
I'm european, it won't get major press coverage. Literally nothing will be said about bitcoin, as usual.

>Nothing in life is free.
I know, if you wanted one of my bitcoins you would need to pay me 930.95 dollarinos.

1k in a matter of hours.

I'm talking about 1k dollars, not Euros.

Still it won't get any press coverage. Last time bitcoin got any press coverage was 2013.

99% of people don't give a fuck

>Still it won't get any press coverage.
t. increasingly nervous banker

Coiners don't know what a Kansas City Shuffle is!
Oh the KEKS!
youtube.com/watch?v=ag31JHU8LPU

>bitcoin's unique features need press coverage
People with money to move that isn't stupid will find bitcoin without mainstream media pumping it.

I agree. But it won't go higher then 1100 - 1200 before the next major drop.

looking at the price over the past couple of years it doesnt seem like it needs any, and when it does who knows how volatile it'll get.

There will be a correction, the problem is, you don't know when, and you don't know when to buy back. Holding and buying every dip always wins.

To the moon! To the moon!

You're trying to hard now

The shills absolutely *love* that picture. It's the easiest tell for someone you shouldn't take seriously. We had a time a few months back when there was always a thread up with that as OP. And when you confronted them about how it's cherry-picked bullshit they'd let the thread drop off and make another the next day.

Still don't know what they're getting out of it though. Shitcoins you can manipulate by roping a few idiots in, but BTC is far too big for that. It must be either pure memery or some sort of personal need for validation, because I can't for the life of me figure out a rational reason why anyone would aggressively shill BTC on here in almost 2017.

>bitinfocharts.com/top-100-richest-bitcoin-addresses.html
Never heard a coiner complain about it.
It is legit.

KEK
Is the truth hurting your liquidity?
If BTC is intrinsically worth so much why do you need more adopters?
For the dump that's why.
Why do you even need to sell a product that it so awesome it should sell itself.
Admit it, your getting a bit shaken at the facts.

I have like .30 waiting till im rich patiently

i doubt anyone here has enough bitcoins that they actually need more people to adopt it to enable them to dump with enough liquidity.

Is this how you cope?

Are you trying to make my point for me or is it just general shitposting?

What did you confront? seems like cope to me.

>What did you confront? seems like cope to me.
In English please?

>Out of the top 100 addresses 60 have never had an outgoing transaction?
Not hard to believe. If I had that much BTC, 60% at minimum would be in a hardware wallet that had never been in contact with the internet, with the private key encrypted and hidden in plain sight in case the hardware wallet is lost or destroyed.
Nobody would accumulate that much in the first place unless they believed BTC's future would make 2013 look like a good time to buy.

>mfw I'm poor as dirt so I can't lose because I have nothing to lose.

Tell me, how does it feel to piss your pants in fear and regret every night holding to dear god to your bitcoins as you need them to pay your debts and for your future?

if youve never had enough money to invest in anything speculative, stocks, private companies, crypto, etc, then you wouldn't understand anyway.

You cry about that image displaying Bitcoin's objective superiority over other forms of money just coz muh meme money.

Sounds like cope to me.

Went all in on the 150 dollar dip when I told everyone to buy and now im sitting on 7 figures and growing, how I can't sleep better than a god damn babby?

When the people holding the bulk of the coins dump on you (which they will) then you will realize what it feels like to hold a bag of worthless crap.

Then you will be forced to cheer lead the crap you hold so that it can be worth something so that you too can dump into another suckers lap.

That is how a ponzi works...until it doesn't.

When they sell they will sell so fast it will be like a missile blasting into a bunker.

Its gonna hurt

dam son, doing better than me. i assume you leveraged up? that or you actually dumped six figures into it. 150 is probably the best entry you could have got in post-bubble bitcoin.

memes aren't going to scare anyone with 6/7 figures worth of crypto. they've already been through more shit than you will in your entire life.

shhh dont tell to the goyim

this is bullshit, $100m+ worth is traded daily

What are you on about? I think BTC is sweet and being jealous of other peoples' gains is a path to certain madness. Hindsight's always 20/20. Do you look at the previous day's best performing stock and start getting angry and writing online posts about not having bought it? Fuck no, good on whoever saw the light and did!

That image is still cherry-picked bullshit btw. I can't find my old copypasta and I'm too lazy to type a new wall of text. The gist of it was: There's probably about a three times as long list of properties of currencies. They just took the ones that make BTC look good and even fudged a few of those: BTC is far from durable, no-where near as easily transactable as fiat and what the fuck does "smart (programmable)" even mean as a "trait of money"?

Like any other currencly BTC has some properties where it excells and some properties where it's god awful. Omitting the latter is ignorant (or malicious) shilling. A blockchain currency is not "objectively superior". It's simply *different* - superior in some aspects and inferior in others.

...

You figured out how every society in the world works, congratulations.

>That is how a ponzi works
It's literally not how a ponzi works.
You described a pyramid scheme.

"In both Ponzi schemes and pyramid schemes, existing investors are compensated by the contributions of new investors. Ponzi scheme participants believe they are earning returns from their investment, while pyramid scheme participants are aware that they are earning money by recruiting new participants."

girardgibbs.com/ponzi-vs-pyramid-scheme/

>When the people holding the bulk of the coins dump on you (which they will)
So are these the same people who have been pumping bitcoin for over 15 months now?
They seem dedicated lol.

They let the 1 coiner lemmings do the cheer leading for them.

Once you have a bitcoin you become a cheer leader.

How else will you justify your investment?

You can kek, you can lol, and you can buy the fomo.

They will dump and you will be fooked.

Afterwards you will cheer lead so hard to dig yourself out of the pit while the exchanges get rich off of sheep fees.

>Afterwards you will cheer lead so hard to dig yourself out of the pit
Is that what happened to cause this recent 15-month rise after the 2013 bubble?
Seems like a pretty sound strategy.

No. We would buy the dip and profit.

Sounds. Almost like.

THE GOVERNMENT

>bitcoin is not easily transactable
kys

All those addresses don't belong to single entities you dumb nocoiner, no single person can crash a 15 billion marketcap anymore.

>this that go up will go down don't buy them

youtube.com/watch?v=XbZ8zDpX2Mg

First off, you're quote mining. I said it's not *as* transactable as fiat, even though the image puts it in the same tier.

>You're on vacation in rural Malawi. Buy water with bitcoin.
>There is a power outtage. Buy a flashlight with bitcoin.
>You're in a rush, but want to pick up food from a street vendor. Buy a snack in under 3 seconds with bitcoin.

Fiat works independently of circumstances and technology and is confirmably exchangable in 1 second. Bitcoin can't beat that.

Your turn to "kys", blind shill.

>It's obvious they're just distributed storage and not individual people.

Correct. For companies, exchanges, organizations which actually represent 1000's of individuals. There's certainly some whales out there who own 10,000+ coins but to suggest the top 50 addresses are owned by 50 individuals is lunacy.

This.

It's also worth noting that when you spend from an address you reveal the public key. Unspent from addresses are technically more secure as "breaking in" would require both ECC + SHA256 to be broken simultaneously.

ECC alone breaking (before bitcoin abandons the algorithm) would tank bitcoin's value anyway so it's probably a moot point but if you're holding thousands of coins why not?

How to transact fiat in everyday life
>open up wallet
>here's a $20 bill
>thank you!

How to transact bitcoin in everyday life
>ok first you gotta set up a wallet, make sure you have a cold storage backup in case the exchange gets hacked, then go to an exchange or a bitcoin atm which are few and far between and put your money in, then wait an hour for confirmation. after that now you send it to my address which is aa73876ad8778b6786a87c6a876d876 then you wait another hour for the money to go through. by the way every transaction costs about 25 cents.
>see look how easy this is, fiat btfo. cope.

When will coiners learn?

now THIS is coping

Where did these anti-bitcoin shills came from?

thanks to this thread i'm finally adding cope/coping to my filters.

coin shills are the absolute worst biz shitposters.

>mfw i get a (you) with people telling me to cope but i've already closed the thread and applied my filters

cope

Set all the filters you want.

AJ Frost coming to finish the job with a backup Armadillo.

Coiners are soooo fooooked

handelszeitung.ch/digitalisierung/eu-will-missbrauch-von-bitcoins-stoppen-1303055

Of course they can.
Although there isn't enough liquidity for all of them to get out at once.
The squeeze out will be epic as they all try and thread the needle at once.

...

>Coping this hard
Kekekekekek

Nobody gets paid dividends on bitcoin you fucking idiot.

true. Winklevoss have 1% of BTC for their ETF

Your thinking is wring. It will break out, because the mass of dumb plebs out there still haven't woken up to it, YET

Successful investing is about having everyone else agree with you, LATER.

Change your thinking, or be poor forever.

some of this is wrong. Gold is very scarce, and decentralized. Bitcoin is still better tho

>Gold is very scarce

>Winklevoss

>free (mason)

>wring
>it will break out
>mass of dumb plebs who still haven't woken up to
>it
>yet

>Successful investing is about having everyone else agree with you, LATER.

>Change your thinking, or be poor forever.

This amount of coping helps me sleep good at night.

Ponzi =/= dividends

sec.gov/News/PressRelease/Detail/PressRelease/1370539730583

saboshi haz al de coin

no coin lef fo yu

ocuply bicoin minrs

witte nd gook man own al de coin

Who owns all those coins?