

1% of the Bitcoin Community Controls 99% of Bitcoin Wealth - doh
https://www.cryptocoinsnews.com/1-bitcoin-community-controls-99-bitcoin-wealth/

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wongarsu
The methodology is completely flawed. They correctly measure that 1% of the
bitcoin addresses contain 99% of the bitcoin wealth, but this doesn't show
wealth distribution in the "bitcoin community". Addresses don't translate to
people.

Almost every wallet uses a number of addresses for accounting and
anonymization. Even if I own a lot of bitcoins, if I regularly use my wallet I
will most likely end up with a few addresses with a decent amount of bitcoin
each and a bunch of addresses with small amounts of bitcoin each, leading to a
distribution similar to the one observed.

As another factor, a lot of bitcoin wealth is in online wallets or other
online services. Many of them consolidate all bitcoins into a handfull of
addresses for practical reasons. That makes these services look super rich
when in reality they just hold funds from other people.

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DeBraid
Major issues with this piece include: 1\. Doesn't adjust for wallets with
zero, or near-zero bitcoin. 2\. Does not account for large service providers
like Coinbase who use only a few hot wallets that hold large amounts btc.

Some math from a commenter: "Top 99.24% of Bitcoin addresses control 32.718%
of Bitcoins _omitting the 67,723,836 bitcoin address containing balances of 0
- 0.001 btc_ amounting to 433.016 btc"

