The centralization of the cryptocurrencies will doom the market to collapse

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Why, despite all the talk about the creation of the necessary infrastructure, the mass influx of institucionales the market never happened? If the regulation is clear, then for some reason, many overlook the fact incredible centralization “decentralized” currency. According to the study Diar, around 55% of the bitcoin coins are in the wallets with the remainder above the 200 BTC (more than $1.2 billion), with about one third of the gcd never made a transaction. If a little to expand the sample, it turns out that 62% of the issued bitcoins account for only 0.1% of the wallets with the amount above 100 coins (more than $650 thousand). Part of these savings accounts to the stock exchange: 3.8% of all coins are owned by the top 5 marketplaces.
The investigation also indicates the relationship between the increase in the rate of inflation in “problematic” countries, like Venezuela and Argentina, and increased demand for scriptactive. So, since November of 2016, the turnover of the crypt among Venezuelans grew at a rate of 19% in the month and by April 2018 peaked at $19.2 million in a week, and since then declined only to the level of 16.6 million, remaining at extremely high levels.
However, all efforts are suffering from inflation the people are powerless and have no influence on quotations, in contrast to the actions of the so-called “whales” – the largest asset holders.
Recently, after four years of hibernation, “Wake up” the owner now in the amount of $844 million (111 of 114 coins) and transferred $100 million from them on Bitfinex and Binance. This action provoked a little investigation on reddit, where he put forward a possible version of events.
The user sick_silk noticed movement on the wallet at the end of August and closely monitor the transaction. According to one hypothesis, the account belongs to the now-functioning resource, dark web Silk Road, known as platform for selling all sorts of banned substances.
In the first post of detective was written the following: “the Wallet belonging to Silk Road, moves funds, divide the amount into pieces for 60 000/ 30 000/ 20 000/ 5 000/ 500/ 100 coins subcostalis. The last movement on these subcatalog was observed March 9, 2014.”
Then they began to Express the assumption that the coins belong to the old wallet, Mt Gox, however, who exactly owns this wallet, not so important, the more the mystery may not be revealed. 15ihHoGs3onQBNnEH8afDFGvou9nD62Hm7 room the wallet, so everyone can try to understand the situation.
It is important that the actions of one “whale” can lead to extremely tragic consequences for the entire market: now all the coins are distributed in small portions to a huge number subcatalog, which were created with sole purpose to cover their tracks, and how many more such cases have gone unnoticed, and most importantly – how many more will? It is possible that the exchange rate will recover in the future, but to buy the cue right now should be approached with maximum caution.
Michael Mashchenko,
Analyst social network for investors
eToro in Russia and the CIS