78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi...

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

news.hitb.org 17 Oct '12, 1pm

78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi...

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, the date the researchers analyzed their data, there were slightly more than 9 million BTCs in existence. Mathematician Dorit Ron and Adi Shamir (the "S" in the widely used RSA cryptography scheme) arrived at that finding by downlo...

Full article: http://news.hitb.org/content/78-percent-bitcoin-currency-...

Tweets

@secureslinger » 17 Oct '12, 2pm
#hacking #security 78 percent of Bitcoin currency stashed under digital mattress, study finds [link] #slingnews
@s_kunk » 17 Oct '12, 1pm
RT @hackinthebox: 78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]
@CyberExaminer » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds [link] #infosec
@b0rn70d13 » 17 Oct '12, 1pm
#HITB News 78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters ... [link]
@pkoshakji » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]
@secureslinger » 17 Oct '12, 1pm
#computer #security More than three-quarters of the digital coins in the Bitcoin digital… [link]
@simoneonofri » 18 Oct '12, 5am
78 percent of Bitcoin currency stashed under digital mattress, study finds [link]
@BrianDuPrix » 17 Oct '12, 2pm
#security 78 percent of Bitcoin currency stashed under digital mattress, study finds [link]
@ID16899 » 17 Oct '12, 2pm
78 percent of Bitcoin currency stashed under digital mattress, study finds [link]
@deepcell » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]
@1Anndra » 17 Oct '12, 1pm
#HITB News 78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters ... [link]
@iBookChick » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]
@hackinthebox » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]
@planktonmedia » 17 Oct '12, 1pm
78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi... [link]

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

78 percent of Bitcoin currency stashed under digital mattress, study finds: More than three-quarters of the digi...

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