Surprising Bitcoin Stats for 2018 & 2017 Q4
Bitcoin is one of modern society’s most puzzling phenomenona, as it doesn’t have any value outside of what society places on it, which happens to be an exorbitant amount for just one Bitcoin.
Let’s brush over some of the most intriguing , Alt Coins, Ethereum, Bitcoin and its performance in 2017-2018.
There’s Great Income Inequality Throughout Society, Including Bitcoin Ownership
Income inequality is of major concern throughout modern society, especially where it’s worse than almost anywhere else – the United States of America.
It’s true that only 4 percent of all Bitcoin addresses own a whopping 96 percent of all outstanding Bitcoin.
With the entire world’s Bitcoin supply being considered, that means of the 16.67 million coins that are currently outstanding on the worldwide market, almost exactly 16 million bitcoins are owned by the richest 4 percent of addresses.
It’s estimated that Satoshi Nakamoto owns quite a few himself, though nobody really knows, because Satoshi has never revealed his true identity, nor the number of bitcoin he owns.
Bitcoin Mining Revenue Is Substantial For Those Investing In Miners
As of December 29th, 2017, at 3:08 PM Eastern Standard Time, $40.6 million dollars’ worth of Bitcoin had been reeled in total mining revenue.
While people that only have enough money to purchase one or even a handful of ASIC miners typically lose loads of money – at least taking months, if not years, to just cover their investments – investing in hundreds, if not thousands of ASIC miners and related equipment, is highly profitable. Of all transactions throughout that 24-hour period referenced above, miners collectively earned about 1.16 percent of the total sum of bitcoins flying around.
Bitcoin, Although It’s Thrown All Over The News, Isn’t Popular With American Adults
Just six months ago, big banking executives had called Bitcoin entirely too risky, sure to fail, and generally bad investments. As recently as one month ago, those same executives reversed their opinions, claiming Bitcoin had room in the world of financial markets as a legitimate instrument. So far, that assertion couldn’t have been more appropriate.
Further, only two percent of Americans were found to use Bitcoin for either transactions or investments – even just to buy them for novelty – meaning the vast majority of the country never, ever use the cryptocurrency.
In Terms Of Historical Price Of Bitcoin, It’s All Green
The past few years, especially 2017, have been especially favorable to Bitcoin. In the past 24 hours, 7 days, 30 days, 5 months, 1 year, 2 years, and 5 years, the percent change is positive.
So, no matter when you bought Bitcoin – pretty much, at least, with a few exceptions – it’s almost certain that you’ve profited from the sale or purchase of the cryptocurrency.
While the future might not be as green as today’s plains are, it’s likely that people who purchase the cryptocurrency will turn a profit, based on its historical success.
Bitcoins Are Far Easier To Lose Than Physical Currency
Unfortunately, loads of Bitcoins – and other cryptocurrencies, surely, as they lack physical representation – are lost each and every day. It’s estimated that 3.8 million bitcoins have been lost, unable to be recovered. That’s alarming, as there are roughly 16.7 million bitcoins out there, able to flow just about everywhere in the world.
With that information, nearly one-quarter of the world’s Bitcoin stash is unable to be used, unless those who’ve most recently had them trapped in their digital wallets somehow recover the passwords to such storage solutions. However, unlike with social media pages, it’s impossible to reset passwords in the world of Bitcoin wallets.
The market may have enough interest for a means of effectively keeping up with Bitcoin wallets and their passwords. However, there are currently some open-sourced programs out there, but no “name-brand,” go-to digital wallet password recovery tool.
2017 Has Been So Very Great To The Price Of Bitcoin
In the past few months, Bitcoin’s rise in price caused it be mentioned in news circles more. Momentum caught up, which generated loads more interest in news covering financial markets, resulting in an astronomical price rise in the cryptocurrency.
As trading closed on the last day of calendar year 2016, the price of the cryptocurrency was worth approximately $954, in United States Dollars.
As of Friday, December 9th, at 4:07 PM Eastern Standard Time, the price of Bitcoin is hovering around $14,500. Although the price is astronomically high today, it’s still not the $19,000-odd mark it was at just a month ago. Invest with caution.
Bitcoin Is More Popular With Younger Generations Than Older Ones
A study conducted by asking millennials questions related to Bitcoin found that a whopping 27 percent of respondents indicated they’d rather own one thousand dollars’ worth of Bitcoin than the same dollar value in any other form of investment.
Millennials Are Also More Aware Of It
Studies have shown that awareness of Bitcoin is much hire in millennials – 42 percent – than in seniors – those over the age of 65 years old – as, on average, only one in seven people that age will be aware of the world’s leading cryptocurrency.
Younger Crowds Don’t Trust Big Banks As Much
Many young people like Bitcoin, so much that they don’t trust big banks. As such, it’s likely, as time progresses, that younger populations will continually move towards cryptocurrencies as a solution to carry out transactions, rather than stay with centralized, national banks that create and regulate the flow of currency, as well as try to stay away from using the services of larger financial institutions, in an attempt to keep the power of financial instruments in their own collective hands.