17 Oct '12, 12pm

78 percent of Bitcoin currency stashed under digital mattress, study finds

78 percent of Bitcoin currency stashed under digital mattress, study finds

Enlarge / A long chain of Bitcoin transactions, showing each address putting aside a small number of digital coins, helps illustrate a finding that 78 percent of them remain dormant in "savings accounts." Dorit Ron, Adi Shamir More than three-quarters of the digital coins in the Bitcoin digital currency scheme aren't circulating because they remain dormant in user accounts that have never participated in outgoing transactions, a recently published study has found. The figure translates to more than 7.019 million BTCs, the term used to denote a single coin under the digital currency, which uses strong cryptography and peer-to-peer networking to enable anonymous payments among parties who don't necessarily know or trust each other. Based on exchange rates listed on Mt.Gox —the most widely used Bitcoin exchange—the coins have a value of more than $82.87 million. On May 13, th...

Full article: http://arstechnica.com/tech-policy/2012/10/78-percent-of-...

Comments

  1. 13 Nov '12, 10am

    I partially agree with this 78%. Probably people think that Bitcoin value will raise during next years and try to store a little treasure in their wallets.

    Actually, Bitcoin are almost useless. There aren't big merchants accepting Bitcoin and if you want to spend them, you don't have a lot of choices.

    We all hope that Bitcoin value will raise, so, we don't want to spend them by now. But, why do you keep your Bitcoin FROZEN under digital mattres? Why not to INVEST them?

    I can suggest you a secure, fast and very profitable investment: http://www.links-pyramining.com/pyramining

    Firstly, your Bitcoin will be stored in a safer place than a normal user can do with his bugged pc ;-) Then, during a time around 14 months, you will have all your Bitcoins back +10%!!! Without any hardware investment or power consumption.

    Investments like this, not only will increase your wallet, but will increase Bitcoin volume traffic and so Bitcoin general value. It's a double profit!

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