Top 10 Richest Bitcoin Owners In 2020! [UPDATED]

Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance (current BTC/USD price is $9,551.49)

Latest Bitcoin News:
Coinbase is the largest bitcoin holder among exchanges, followed by Huobi and Binance
Other Related Bitcoin Topics:
Bitcoin Price | Bitcoin Mining | Blockchain
The latest Bitcoin news has been sourced from the CoinSalad.com Bitcoin Price and News Events page. CoinSalad is a web service that provides real-time Bitcoin market info, charts, data and tools.
submitted by coinsaladcom to CoinSalad [link] [comments]

16.5% of #Bitcoin's total supply is held within #cryptoexchanges. This is nearly around 3.08 million #BTC✨. #Coinbase is the largest bitcoin holder, holding 5.4% of all BTC in circulation. #Huobi, #Binance, #OKEx, and #BitMEX exchanges📊follow its lead.

16.5% of #Bitcoin's total supply is held within #cryptoexchanges. This is nearly around 3.08 million #BTC✨. #Coinbase is the largest bitcoin holder, holding 5.4% of all BTC in circulation. #Huobi, #Binance, #OKEx, and #BitMEX exchanges📊follow its lead. submitted by Tokenncoin to Tokenncoin [link] [comments]

Report: Coinbase the Largest Bitcoin Holder Among Exchanges with Over $7B - AllStocks Network

Report: Coinbase the Largest Bitcoin Holder Among Exchanges with Over $7B - AllStocks Network submitted by All-Stocks to AllStocksNetwork [link] [comments]

World 22nd Largest Bitcoin Holder Makes Huge BTC Transfer On May 1

World 22nd Largest Bitcoin Holder Makes Huge BTC Transfer On May 1 submitted by khalsz to btc [link] [comments]

I'm one of the largest Bitcoin holders in the world with 750BTC (AMA)

Hi Everyone,
Hope you're well and having a good day. I'm up late at night, a bit bored, and wanted people to see the perspective of someone who has a large position in BTC. I'm using a throwaway account for obvious reasons. If you wish you can ask questions.
So first off, I heard about Bitcoin in late summer of 2012. I read about it for a while, thought it was kinda neat (but confusing as hell), and then proceeded to download Bitcoin QT. After watching it download the "blockchain" for about 10 minutes I said Fuck this and proceeded to delete the program and forget about Bitcoin :)
Fast forward to March 2013 (or April, can't remember). I'm not sure how I heard of Bitcoin again, but I think it was on some mainstream news site (like CNBC or something). I saw that the price was rising and something "clicked" in my head (for better or worse)
I spent a few days reading/researching Bitcoin heavily. It became like a good drug. I was engrossed by the news in a good way. I really "got" Bitcoin by this point and what it could be. (keyword "could", not a guarantee)
As quickly as I felt comfortable, I began wiring a fuck load of USD to Mt.Gox. Looking back I don't know how on earth I had the courage to do this, but user testimonials of Mt.Gox doing well by people, and them being the most popular at the time, got me to do it.
I did about 4 or 5 wire transfers from my bank over the course of a month as I was able to movie money around. They began to ask questions of what I was doing. They were joking but a little serious when one said "Man don't try to launder money over there." I mentioned to them what I was doing (Bitcoin) and they didn't really understand/get it so I left it at that.
Around the $70-$100ish range I bought 528 BTC. When the price hit $266 or so and then crashed (because of Mt. Gox locking up) I was literally cracking up. :) I just found it so funny that people scare so easily.
When the summer came I kinda monitored Bitcoin, bought a little thing here and there, etc etc.
When early fall came, I noticed that I was REALLY unhappy with some stock that I held and how the company was doing, so I sold the fuck out of it and brought my total to 750BTC. (poured $130k total into it for my BTC purchases)
It was really fun to see the price hit $1,200, but I decided not to sell any. My main fear being that what I think is a top really isn't, and it would leave me behind with fewer coins. I'm not very good at calling tops.
As the price last night fell to the upper $300's, I was awoken by my phone (price alert). I will admit I was a little worried as I'm human (thinking of potential sell strategies if need be), but when in a short amount of time it rocketed back up to $500 or so I said fuck it and went back to sleep calmer.
I don't really spend my BTC but I do purchase $75 worth of BTC every week to "stimulate" the BTC economy. I'll use that $75 on Christmas Gifts, Gyft cards, little tipping here and there.
At the moment there are only about 16,000 people in the world that can hold as many BTC as me, and I'm very proud of that. I feel that I'm on the forefront of something special, and am always trying to share it with friends. When friends freak out about crashes, I try to calm them down with common sense (yet I always make sure they know I don't have a crystal ball).
With Bitcoin I feel like the "cat is out of the bag" so to speak. It's out and can't be contained now. I feel countries are best to embrace it or they will have a competitive disadvantage.
Also, the U.S. Fiscal situation is fucking terrible, and I believe BTC will be one of the many flights to safety in the years to come. Do not ignore the Fed's relation to the Bond market (let me know if you have questions about this topic)
So long story short, I could be wrong about Bitcoin and what happens to it someday, but I've done a lot of research and I feel comfortable with it. I don't know if I have a "sell price" so to speak, or if I'll choose to just hold the BTC and spend as necessary. I do know though that upon reaching the $10Kish mark I would like to do something simple like treat myself to a sports car (cliche, I know...but it is what it is)
Thank you for reading! It's fun to share this with people (even if strangers) because it's something I can't really talk about with people!
submitted by 750BTC to Bitcoin [link] [comments]

One the largest bitcoin holders on the planet Karl Gray on fb today: "533$ I think we can all agree Bitcoin is dead" The coming of a new era?

One the largest bitcoin holders on the planet Karl Gray on fb today: submitted by crypto_coiner to peercoin [link] [comments]

Uncle Sam: The World’s Second Largest Bitcoin Holder

Uncle Sam: The World’s Second Largest Bitcoin Holder submitted by DavidParkerCCN to Bitcoin [link] [comments]

$ 144 million transaction cost bitcoin whale 30 cents commission

$ 144 million transaction cost bitcoin whale 30 cents commission
One of the largest Bitcoin holders emptied his wallet in one transaction at 14,922 BTC ($ 144 million). The commission was only $ 0.3.
Information about the movement of funds published service Whale Alert. According to him, bitcoins were transferred to an unknown address.
https://twitter.com/whale_alert/status/1262484285908549640

https://preview.redd.it/3x5974i37pz41.jpg?width=560&format=pjpg&auto=webp&s=a847137857dbb3406e07a95a0a39413cd1b4e122

The identity of the whale is also unknown, but its wallet has been the subject of close attention in recent months. According to BitInfoCharts, on April 5, the address was 58th in terms of the number of bitcoins on the balance sheet (12,380 BTC or $ 85.08 million at the exchange rate of that time).

https://preview.redd.it/qxlsc45y7pz41.jpg?width=768&format=pjpg&auto=webp&s=6c7e25119d4b35e94da1ed1a323eaf46d97e3232
On May 13, the wallet rose to 48th place, bringing the total cryptocurrency to 15,470 BTC ($ 138.15 million at that time).
A week earlier, an unknown whale transferred 47,835 BTC ($ 417 million) with a commission of $ 1.44.
In October 2019, a transaction on 112,027 BTC was carried out on the Bitcoin network (more than $ 930 million at that time). The commission then amounted to $ 3.89.
In September last year, a transaction was recorded at 94,504 BTC, which exceeded $ 1 billion at the exchange rate at the time of the transfer. In this case, the commission turned out to be unusually high - $ 700.
submitted by btcxlab to CryptoMarkets [link] [comments]

Time to Face Reality in 2017

It's time to face reality in 2017
Bitcoin is not the currency of the future
We need to stop listening to self-proclaimed experts and hack economists who say
Bitcoin will change the world
The Bitcoin experiment has finally been resolved. Everybody was wrong:
Bitcoin is dead.
Mike Hearn said ‘farewell to Bitcoin’ and took a job with Goldman Sachs because he thought
‘Bitcoin is just an experiment.’
Circle CEO Jeremy Allaire says nobody will be using Bitcoin in 5 years because
It’s still early days. Something better will come along and replace it.
People were wrong when they said
Bitcoin will bring reliable self-banking to the unbanked in third world countries.
Smart people understand that
Bitcoin challenges central banking and undermines the ability of governments to keep financial tabs on their citizens.
In order to fight terrorism, the government tracks everything you do online.
Personally, I’m tired of living in a world where
Hackers, drug dealers and terrorists can use Bitcoin to get away with their crimes.
It’s actually just a myth that
Bitcoin is good for the world.
That’s dead wrong.
You aren’t smart enough to use Bitcoin; it will never be adopted by the masses.
Economists like Paul Krugman keep saying
Bitcoin is evil.
I don’t believe that
Bitcoin can make the world a better place by empowering people.
All you can do with Bitcoin is buy drugs. And maybe a hitman.
It just isn’t true that
Bitcoin can be used for good as well as bad.
It is true that Bitcoin is riddled with scams and crooks. Mt. Gox blew up, Ross Ulbricht went down. Hardly a day goes by without somebody getting hacked or handcuffed. We all know
Bitcoin was born in sin.
Charlie Stross wants Bitcoin to die in a fire. He says
Bitcoin is evil.
I’m tired of hearing that
Bitcoin is actually close to mass adoption.
The price of Bitcoin today is nearing an all-time high, but the Economist Magazine says it’s just a bubble – Like tulip mania. The smart money says
The experiment is over – Bitcoin has failed.
But wait – isn’t this all backwards?! Read the article in reverse: Only fools believe that
[Original article by Dr. Michael Moriarty published at http://darknetmarkets.com/time-face-reality-2017/ . Dr. Michael Moriarty is the owner of https://TorWallet.com and one of the largest Bitcoin holders in the world.]
submitted by JuanDiegoMontoya to Bitcoin [link] [comments]

Is this real? Is Bulgaria being the second-largest holder of bitcoin? And if not who is it?

Is this real? Is Bulgaria being the second-largest holder of bitcoin? And if not who is it? submitted by Someone_Somewhere8 to Bitcoin [link] [comments]

Is this real? Is Bulgaria being the second-largest holder of bitcoin? And if not who is it?

Is this real? Is Bulgaria being the second-largest holder of bitcoin? And if not who is it? submitted by doppl to GoodRisingTweets [link] [comments]

Bitcoin World Bank

A good solution to the uneven distribution of BTC wealth could be to have the 11 largest bitcoin holders act as the world reserve and make up the board of directors. They couldn't manipulate the markets because the wallets are public. Sotoshi may be a visionary in seeing the value of early adopters being the group that controls the mass of BTC. It is essentially an unelected group of decision makers spread relatively evenly throughout geographic region.
submitted by ISayWhatEvery1Thinks to Bitcoin [link] [comments]

TIL that FBI maintains a bitcoin wallet. The wallet comprises of bitcoins that FBI has seized from many sources. After the arrest of Ross William Ulbricht, the person behind Silk Road, all his Bitcoins were confiscated. This made FBI the holder of the largest wallet of bitcoins in the world.

TIL that FBI maintains a bitcoin wallet. The wallet comprises of bitcoins that FBI has seized from many sources. After the arrest of Ross William Ulbricht, the person behind Silk Road, all his Bitcoins were confiscated. This made FBI the holder of the largest wallet of bitcoins in the world. submitted by pingpong2019 to interestingasfuck [link] [comments]

Li Xiaolai, one of the largest holders of bitcoin in China(100,000+ bitcoin), found within the Panama Papers.

Li Xiaolai, one of the largest holders of bitcoin in China(100,000+ bitcoin), found within the Panama Papers. submitted by trixisowned to Bitcoin [link] [comments]

On a larger scale, the Pineapple Fund created a more mysterious form of cryptocurrency philanthropy. The organization was started in December by an anonymous donor who goes by the nickname “Pine” and claims to be among the 250 largest holders of Bitcoin in the world.

submitted by 2012ronpaul2012 to CryptoCurrency [link] [comments]

Longtime holder leaked info that Bitcoin will be used by Saudi Arabia to surreptitiously sell off some of the weapons they are buying in the largest arms deal in US history. Leak states “there just isn't enough releasable gold”.

Edit: This is unsupported speculation with no proof. Could be FUD/PUMP. Just a thought exercise for now.
Some stuff he posted looked like FUD and I am glad the community is vigilant. But I think this is worth a discussion and investigation. He also called the top of the recent drop and some other news. He claims to have an inside source.
I would just like to hear to the community's thoughts on the ramifications if this is true. Thanks.
The Saudi Arabian weapons contract with donald trump had a direct hand in affecting the price of bitcoin. You heard that here first (so I can prove myself later on).
Saudi Arabia is going to sell part of their newly acquired U.S made arms, but they don't want the sales on the books and there just isn't enough releasable gold. Buyers are going to use bitcoin.
Here is the post: https://www.reddit.com/Bitcoin/comments/6dc1x7/to_all_the_hard_heads/di1llsh/
Lets ignore his price predictions for now as there are too many unknown factors.
submitted by shadowbandit to Bitcoin [link] [comments]

Ma does not have much interest in Bitcoin but recognised blockchain’s importance. When he learned it could solve security and privacy issues, he began researching the technology and Alibaba has become the largest holder of blockchain patents. Read more on: http://bigtk.io/bigcryptoguide

Ma does not have much interest in Bitcoin but recognised blockchain’s importance. When he learned it could solve security and privacy issues, he began researching the technology and Alibaba has become the largest holder of blockchain patents. Read more on: http://bigtk.io/bigcryptoguide submitted by BigToken-io to BIGToken [link] [comments]

What percent of all bitcoins are owned by the 20 largest holders?

Any one have any ideas on this? I've done a bit of googling but couldn't find much. I suspect it's going to be a higher percentage than I'd like to see.
submitted by redditpirateroberts to Bitcoin [link] [comments]

Just like with Bitcoin: The largest Monero holders will be the ones that simply continue to acquire Monero at any price, all the way up.

It will be a wild and rocky road between here and $1000+ USD. Not everyone will hold on the whole way. Some will be lured away by the false promises of competing crypto, and others will get off the train early.
If you want to be left standing, there is only one sure strategy: buy, withdraw from the exchange to a private address you control, and hodl... all the way up.
submitted by americanpegasus to Monero [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on Ethereum

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself on the DeFi Pulse website.

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA player Spencer Dinwiddie tokenized his own NBA contract.)

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (Jitsi for the zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to CryptoCurrency [link] [comments]

A Detailed Summary of Every Single Reason Why I am Bullish on ETH.

The following will be a list of the many reasons why I hold and am extremely bullish on ETH.

This is an extremely long post. If you just want the hopium without the detail, read the TL;DR at the bottom.

ETH 2.0

As we all know, ETH 2.0 phase 0 is right around the corner. This will lock up ETH and stakers will earn interest on their ETH in return for securing the network. Next comes phase 1 where the ETH 2 shards are introduced, shards are essentially parallel blockchains which are each responsible for a different part of Ethereum’s workload, think of it like a multi-core processor vs a single core processor. During phase 1, these shards will only act as data availability layers and won’t actually process transactions yet. However, their data can be utilised by the L2 scaling solution, rollups, increasing Ethereum’s throughput in transactions per second up to 100,000 TPS.
After phase 1 comes phase 1.5 which will move the ETH 1.0 chain into an ETH 2 shard and Ethereum will be fully secured by proof of stake. This means that ETH issuance will drop from around 5% per year to less than 1% and with EIP-1559, ETH might become a deflationary asset, but more on that later.
Finally, with ETH 2.0 phase two, each shard will be fully functional chains. With 64 of them, we can expect the base layer of Ethereum to scale around 64x, not including the massive scaling which comes from layer 2 scaling solutions like rollups as previously mentioned.
While the scaling benefits and ETH issuance reduction which comes with ETH 2.0 will be massive, they aren’t the only benefits. We also get benefits such as increased security from PoS compared to PoW, a huge energy efficiency improvement due to the removal of PoW and also the addition of eWASM which will allow contracts to be programmed in a wide range of programming languages, opening the floodgates for millions of web devs who want to be involved in Ethereum but don’t know Ethereum’s programming language, Solidity.

EIP-1559 and ETH scarcity

As I covered in a previous post of mine, ETH doesn’t have a supply cap like Bitcoin. Instead, it has a monetary policy of “minimum viable issuance”, not only is this is a good thing for network security, but with the addition of EIP-1559, it leaves the door open to the possibility of ETH issuance going negative. In short, EIP-1559 changes the fee market to make transaction prices more efficient (helping to alleviate high gas fees!) by burning a variable base fee which changes based on network usage demand rather than using a highest bidder market where miners simply include who pays them the most. This will result in most of the ETH being paid in transaction fees being burned. As of late, the amount which would be burned if EIP-1559 was in Ethereum right now would make ETH a deflationary asset!

Layer 2 Scaling

In the mean time while we are waiting for ETH 2.0, layer 2 scaling is here. Right now, projects such as Deversifi or Loopring utilise rollups to scale to thousands of tx/s on their decentralised exchange platforms or HoneySwap which uses xDai to offer a more scalable alternative to UniSwap. Speaking of which, big DeFi players like UniSwap and Synthetix are actively looking into using optimistic rollups to scale while maintaining composability between DeFi platforms. The most bullish thing about L2 scaling is all of the variety of options. Here’s a non exhaustive list of Ethereum L2 scaling solutions: - Aztec protocol (L2 scaling + privacy!) - ZKSync - Loopring - Raiden - Arbitrum Rollups - xDai - OMGNetwork - Matic - FuelLabs - Starkware - Optimism - Celer Network - + Many more

DeFi and Composability

If you’re reading this, I am sure you are aware of the phenomena which is Decentralised Finance (DeFi or more accurately, open finance). Ethereum is the first platform to offer permissionless and immutable financial services which when interacting with each other, lead to unprecedented composability and innovation in financial applications. A whole new world of possibilities are opening up thanks to this composability as it allows anyone to take existing pieces of open source code from other DeFi projects, put them together like lego pieces (hence the term money legos) and create something the world has never seen before. None of this was possible before Ethereum because typically financial services are heavily regulated and FinTech is usually proprietary software, so you don’t have any open source lego bricks to build off and you have to build everything you need from scratch. That is if what you want to do is even legal for a centralised institution!
Oh, and if you think that DeFi was just a fad and the bubble has popped, guess again! Total value locked in DeFi is currently at an all time high. Don’t believe me? Find out for yourself at: https://defipulse.com

NFTs and tokeniation

NFTs or “Non-Fungible Tokens” - despite the name which may confuse a layman - are a basic concept. They are unique tokens with their own unique attributes. This allows you to create digital art, human readable names for your ETH address (see ENS names and unstoppable domains), breedable virtual collectible creatures like crypto kitties, ownable in game assets like Gods Unchained cards or best of all in my opinion, tokenised ownership of real world assets which can even be split into pieces (this doesn’t necessarily require an NFT. Fungible tokens can be/are used for some of the following use cases). This could be tokenised ownership of real estate (see RealT), tokenised ownership of stocks, bonds and other financial assets (which by the way makes them tradable 24/7 and divisible unlike through the traditional system) or even tokenised ownership of the future income of a celebrity or athlete (see when NBA Star Spencer Dinwiddie Tokenized His Own NBA Contract.

Institutional Adoption

Ethereum is by far the most widely adopted blockchain by enterprises. Ethereum’s Enterprise Ethereum Alliance (EEA) is the largest blockchain-enterprise partnership program and Ethereum is by far the most frequently leveraged blockchain for proof of concepts and innovation in the blockchain space by enterprises. Meanwhile, there are protocols like the Baseline protocol which is a shared framework which allows enterprises to use Ethereum as a common frame of reference and a base settlement layer without having to give up privacy when settling on the public Ethereum mainnet. This framework makes adopting Ethereum much easier for other enterprises.

Institutional Investment

One of Bitcoin’s biggest things it has going for it right now is the growing institutional investment. In case you were wondering, Ethereum has this too! Grayscale offers investment in the cryptocurrency space for financial institutions and their Ethereum fund has already locked up more than 2% of the total supply of ETH. Not only this, but as businesses transact on Ethereum and better understand it, not only will they buy up ETH to pay for their transactions, but they will also realise that much like Bitcoin, Ethereum is a scarce asset. Better yet, a scarce asset which offers yield. As a result, I expect to see companies having ETH holdings become the norm just like how Bitcoin is becoming more widespread on companies’ balance sheets.

The state of global markets

With asset prices in almost every asset class at or near all-time highs and interest rates lower than ever and even negative in some cases, there really aren’t many good opportunities in the traditional financial system right now. Enter crypto - clearly the next evolution of financial services (as I explained in the section on DeFi earlier in this post), with scarce assets built in at the protocol layer, buying BTC or ETH is a lot like buying shares in TCP/IP in 1990 (that is if the underlying protocols of the internet could be invested in which they couldn’t). Best of all, major cryptos are down from their all-time highs anywhere between 35% for BTC or 70% for ETH and much more for many altcoins. This means that they can significantly appreciate in value before entering uncharted, speculative bubble territory.
While of course we could fall dramatically at any moment in the current macro financial conditions, as a longer term play, crypto is very alluring. The existing financial system has shown that it is in dire need of replacing and the potential replacement has started rearing its head in the form of crypto and DeFi.

Improvements in user onboarding and abstracting away complexity

Ethereum has started making huge leaps forward in terms of usability for the end user. We now have ENS names and unstoppable domains which allow you to send ETH to yournamehere.ETH or TrickyTroll.crypto (I don’t actually have that domain, that’s just an example). No longer do you have to check every character of your ugly hexadecimal 0x43AB96D… ETH address to ensure you’re sending your ETH to the right person. We also have smart contract wallets like Argent wallet or the Gnosis safe. These allow for users to access their wallets and interact with DeFi self-custodially from an app on their phone without having to record a private key or recovery phrase. Instead, they offer social recovery and their UI is straight forward enough for anyone who uses a smart phone to understand. Finally, for the more experienced users, DApps like Uniswap have pretty, super easy to use graphical user interfaces and can be used by anyone who knows how to run and use a browser extension like Metamask.

The lack of an obvious #1 ETH killer

One of Ethereum’s biggest threats is for it to be overthrown by a so-called “Ethereum killer” blockchain which claims to do everything Ethereum can do and sometimes more. While there are competitors which are each formidable to a certain extent such as Polkadot, Cardano and EOS, each have their own weaknesses. For example, Polkadot and Cardano are not fully operational yet and EOS is much more centralised than Ethereum. As a result, none of these competitors have any significant network effects just yet relative to the behemoth which is Ethereum. This doesn’t mean that these projects aren’t a threat. In fact, I am sure that projects like Polkadot (which is more focused on complimenting Ethereum than killing it) will take a slice out of Ethereum’s pie. However, I am still very confident that Ethereum will remain on top due to the lack of a clear number 2 smart contract platform. Since none of these ETH killers stands out as the second place smart contract platform, it makes it much harder for one project to create a network effect which even begins to threaten Ethereum’s dominance. This leads me onto my next reason - network effects.

Network effects

This is another topic which I made a previous post on. The network effect is why Bitcoin is still the number one cryptocurrency and by such a long way. Bitcoin is not the most technologically advanced cryptocurrency. However, it has the most widespread name recognition and the most adoption in most metrics (ETH beats in in some metrics these days). The network effect is also why most people use Zoom and Facebook messengeWhatsApp despite the existence of free, private, end to end encrypted alternatives which have all the same features (https://meet.jit.si/ for zoom alternative and Signal for the private messenger app. I highly recommend both. Let’s get their network effects going!). It is the same for Bitcoin. People don’t want to have to learn about or set up a wallet for alternative options. People like what is familiar and what other people use. Nobody wants to be “that guy” who makes you download yet another app and account you have to remember the password/private key for. In the same way, Enterprises don’t want to have to create a bridge between their existing systems and a dozen different blockchains. Developers don’t want to have to create DeFi money legos from scratch on a new chain if they can just plug in to existing services like Uniswap. Likewise, users don’t want to have to download another browser extension to use DApps on another chain if they already use Ethereum. I know personally I have refrained from investing in altcoins because I would have to install another app on my hardware wallet or remember another recovery phrase.
Overthrowing Ethereum’s network effect is one hell of a big task these days. Time is running out for the ETH killers.

Ethereum is the most decentralised and provably neutral smart contract platform

Ethereum is also arguably the most decentralised and provably neutral smart contract platform (except for maybe Ethereum Classic on the neutrality part). Unlike some smart contract platforms, you can’t round up everyone at the Ethereum Foundation or any select group of people and expect to be able to stop the network. Not only this, but the Ethereum foundation doesn’t have the ability to print more ETH or push through changes as they wish like some people would lead you on to believe. The community would reject detrimental EIPs and hard fork. Ever since the DAO hack, the Ethereum community has made it clear that it will not accept EIPs which attempt to roll back the chain even to recover hacked funds (see EIP-999).
Even if governments around the world wanted to censor the Ethereum blockchain, under ETH 2.0’s proof of stake, it would be incredibly costly and would require a double digit percentage of the total ETH supply, much of which would be slashed (meaning they would lose it) as punishment for running dishonest validator nodes. This means that unlike with proof of work where a 51% attacker can keep attacking the network, under proof of stake, an attacker can only perform the attack a couple of times before they lose all of their ETH. This makes attacks much less financially viable than it is on proof of work chains. Network security is much more than what I laid out above and I am far from an expert but the improved resistance to 51% attacks which PoS provides is significant.
Finally, with the US dollar looking like it will lose its reserve currency status and the existing wire transfer system being outdated, superpowers like China won’t want to use US systems and the US won’t want to use a Chinese system. Enter Ethereum, the provably neutral settlement layer where the USA and China don’t have to trust each other or each other’s banks because they can trust Ethereum. While it may sound like a long shot, it does make sense if Ethereum hits a multi-trillion dollar market cap that it is the most secure and neutral way to transfer value between these adversaries. Not to mention if much of the world’s commerce were to be settled in the same place - on Ethereum - then it would make sense for governments to settle on the same platform.

ETH distribution is decentralised

Thanks to over 5 years of proof of work - a system where miners have to sell newly minted ETH to pay for electricity costs - newly mined ETH has found its way into the hands of everyday people who buy ETH off miners selling on exchnages. As pointed out by u/AdamSC1 in his analysis of the top 10K ETH addresses (I highly recommend reading this if you haven’t already), the distribution of ETH is actually slightly more decentralised than Bitcoin with the top 10,000 ETH wallets holding 56.70% of ETH supply compared to the top 10,000 Bitcoin wallets which hold 57.44% of the Bitcoin supply. This decentralised distribution means that the introduction of staking won’t centralise ETH in the hands of a few wallets who could then control the network. This is an advantage for ETH which many proof of stake ETH killers will never have as they never used PoW to distribute funds widely throughout the community and these ETH killers often did funding rounds giving large numbers of tokens to VC investors.

The community

Finally, while I may be biased, I think that Ethereum has the friendliest community. Anecdotally, I find that the Ethereum developer community is full of forward thinking people who want to make the world a better place and build a better future, many of whom are altruistic and don’t always act in their best interests. Compare this to the much more conservative, “at least we’re safe while the world burns” attitude which many Bitcoiners have. I don’t want to generalise too much here as the Bitcoin community is great too and there are some wonderful people there. But the difference is clear if you compare the daily discussion of Bitcoin to the incredibly helpful and welcoming daily discussion of EthFinance who will happily answer your noob questions without calling you an idiot and telling you to do you own research (there are plenty more examples in any of the daily threads). Or the very helpful folks over at EthStaker who will go out of their way to help you set up an ETH 2.0 staking node on the testnets (Shoutout to u/superphiz who does a lot of work over in that sub!). Don’t believe me? Head over to those subs and see for yourself.
Please don’t hate on me if you disagree about which project has the best community, it is just my very biased personal opinion and I respect your opinion if you disagree! :)

TL;DR:

submitted by Tricky_Troll to ethtrader [link] [comments]

Longtime holder leaked info that Bitcoin will be used by Saudi Arabia to surreptitiously sell off some of the weapons they are buying in the largest arms deal in US history. Leak states there just isn't enough releasable gold. /r/Bitcoin

Longtime holder leaked info that Bitcoin will be used by Saudi Arabia to surreptitiously sell off some of the weapons they are buying in the largest arms deal in US history. Leak states there just isn't enough releasable gold. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

EXTREMELY IMPORTANT VIDEO FOR BITCOIN HOLDERS!!! HUGE DUMP ... EXTREMELY IMPORTANT VIDEO FOR BITCOIN HOLDERS!!! HUGE DUMP ... MASSIVE WARNING TO ALL BITCOIN & CHAINLINK HOLDERS

The FBI is one of the largest renowned holders of Bitcoin. In September 2013, they brought down Silk Road, the infamous dark web drug bazaar, and seized 144,000 Bitcoin owned by the site’s operator Ross Ulbricht, better known as, “Dread Pirate Roberts”. Ulbricht made critical blunders that allowed investigators to locate the site and link him to it. Users of Silk Road are said to have ... It was possible to mention many people who have got wealthy thanks to Bitcoin in this paragraph but the largest investment in crypto has made Tyler and Cameron Winklevoss, twin brothers, the richest people who claim to own 1% of the total Bitcoin cap. These brothers have become famous for winning a Facebook lawsuit and settling all this money in BitCoin. In 2013, they purchased Bitcoin ... Two individuals round off our list of the top 10 Bitcoin holders. Toni Gallippi, who reportedly owns 34,000 BTC is the founder and current CEO of BitPay – the largest Bitcoin checkout processor. Tim Draper would round off the top 10 Bitcoin wallet list with a net BTC worth of 30,000. He is a venture capitalist who invested in Skype and bought a significant amount of coins from the FBI’s ... “The largest bitcoin holders are also the largest altcoin holders. This has always been true and likely always will be true… This does not mean BTC is not the best money.” The notion that major Bitcoin holders are not exposed in the altcoin market is likely incorrect, based on the data. The researchers at Santiment explained: “Out of 855 assets that we track on-chain data for, 727 have ... Let’s take a look at the list of the biggest known Bitcoin holders: Satoshi Nakamoto. The creator of Bitcoin, Satoshi Nakamoto, is estimated to have Bitcoin worth as much as USD 4.7 million. Please note that the numbers are just an estimate, and vary constantly based on the price of the Bitcoin in the markets. Frankly, no one can ever know the exact holdings of Satoshi Nakamoto’s portfolio ...

[index] [981] [45233] [22092] [33707] [31580] [25724] [50680] [47337] [46827] [32678]

EXTREMELY IMPORTANT VIDEO FOR BITCOIN HOLDERS!!! HUGE DUMP ...

WOW!!! BITCOIN AND CHAINLINK!! YOU HAVE TO SEE THIS IF YOU ARE HOLDING BTC OR LINK!!! $502 FREE on our Trusted Exchanges! 🔶 Bybit: https://bit.ly/MMCryptoByb... =====(bitmex app)===== EXTREMELY IMPORTANT VIDEO FOR BITCOIN HOLDERS!!! HUGE DUMP????? #bitmex airdrop #bitmex scalping #bitmex strategy #bitmex api python F... =====(bitcoin trading bitmex)===== EXTREMELY IMPORTANT VIDEO FOR BITCOIN HOLDERS!!! HUGE DUMP????? #bitmex trading bot 2020 #bitmex trading tutorial Full Pla... Bitcoin news Bitcoin news

#