Over the past few years, several “alarm bells” for all Bitcoin maximalists. It turns out that the decentralization of the main cryptocurrency is more like a myth and has nothing to do with the real situation. According to research analysts TruStory, 2% Bitcoin addresses control almost 80 percent of all currently existing coins.

Who controls Bitcoin?

The results are presented in the form of the Lorenz curve, which shows the degree of inequality in the distribution of wealth. Experts believe some factors that could affect the accuracy of results. In particular, they removed the wallets belonging to exchanges.

The results of the calculations are given below in the form of the Lorenz curve. The straight blue line shown full equality in the distribution of coins, that is when everyone gets an equal amount of BTC. Red curve under the line shows the real state of Affairs — the ratio of wallets to the number of all mined coins. As you can see, the first 25 per cent of the holders do not own and a few percent of bitcoin. But at a tiny part of a particularly wealthy hontarov account for the majority of existing coins.

Source: NewsBTC

There is a schedule clearly indicates “unfair” distribution of cryptocurrency. Although in fact it simply reflects the difference in social status and the status of industry participants.

Generally in Economics the Lorenz curve shows the income inequality of the population. The closer the curve to a straight line, the fairer the distribution of all money. Its position on the chart is adjusted for social programs and taxation reforms.

Statistics TruStory criticized by some users on Twitter. Co-founder BlockTower Capital Ari Paul advised the experts to exclude from the sample purses with the amount in the account less than 0.01 BTC. According to him, any user can generate thousands of Bitcoin addresses, which then will not be used. Therefore, these wallets supposedly should not be taken into account.

Here is his tweet.

Ari Paul ⛓

✔@AriDavidPaul

· Reply to user @iam_preethi

I don’t view “% of addresses” as meaningful. I could create 1 million new addresses with dust in each with a script and drive that number down further. The problem is that the denominator is kind of a nonsense number. What does the total number of addresses mean or matter?

Ari Paul ⛓

✔@AriDavidPaul

2/ a more meaningful measure is something like the # of addresses with at least 0.1 BTC. Still doesn’t tell us much, but at least here an “address” has some meaning.

72

Information about advertising in Twitter and privacy

Watch other tweets Ari Paul ⛓

  • 0.21% of the addresses controls 55.69 percent BTC
  • 2.03% of addresses controls 80.46 percent BTC
  • 10.03% of addresses controls 89.29 percent BTC
  • 36.86% of addresses controls the 95.34 per cent of BTC