Re:Is There a Cryptocurrency Bubble? Just Ask Doge
by tokenizerrr on Saturday September 16, 2017 @10:35PM
(#15267960)
It's impossible to tell how many wallets there are with a certain amount in them. A wallet consists of multiple addresses and you can't tell which of them belong together. It is very common for money to be spread over multiple addresses, which are part of the same wallet. I probably have several hundred addresses in my wallet by now.
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Re:Is There a Cryptocurrency Bubble? Just Ask Doge
by craigc on Saturday September 16, 2017 @10:48PM
(#15268004)
Ya, I am aware of that. I don’t think it really weakens his argument that much though. Your bitcoin is only redistributed to new addresses when you send and receive it so even looking at just people who have bought and held it will give you a piece of the puzzle.
You can also compare Bitcoin’s current market cap (~$60 billion) to that of gold ($7 trillion) and see that it still has a ways to go (if it is going to become widely adopted).