Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s...

Analysis of How Bitcoin Is Actually Used

news.hitb.org 18 Oct '12, 11pm

Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s...

The Bitcoin scheme is a rare example of a large scale global payment system in which all the transactions are publicly accessible (but in an anonymous way). We downloaded the full history of this scheme, and analyzed many statistical properties of its associated transaction graph. In this paper we answer for the first time a variety of interesting questions about the typical behavior of account owners, how they acquire and how they spend their Bitcoins, the balance of Bitcoins they keep in their accounts, and how they move Bitcoins between their various accounts in order to better protect their privacy. In addition, we isolated all the large transactions in the system, and discovered that almost all of them are closely related to a single large transaction that took place in November 2010, even though the associated users apparently tried to hide this fact with many strang...

Full article: http://news.hitb.org/content/analysis-how-bitcoin-actuall...

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@secureslinger » 18 Oct '12, 11pm
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@secureslinger » 18 Oct '12, 11pm
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#HITB News Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale globa... [link]
@Kill_Tech » 18 Oct '12, 11pm
Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]
@CyberExaminer » 18 Oct '12, 11pm
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#HITB News Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale globa... [link]
@deepcell » 18 Oct '12, 11pm
Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]
@iBookChick » 18 Oct '12, 11pm
Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]
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Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]
@planktonmedia » 18 Oct '12, 11pm
Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]
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@pkoshakji » 18 Oct '12, 11pm
Analysis of How Bitcoin Is Actually Used: The Bitcoin scheme is a rare example of a large scale global payment s... [link]