222
Something that may surprise many people is the number of "Dormant Wallets" that exist in BITCOIN.
And what is a "dormant wallet"?
"Dormant Wallet" is considered to be any address where there is practically no activity/transaction for at least the last 5 years
In the BITCOIN blockchain there are approximately 18 million "Dormant Wallets" today.
most remarkable aspect is not that lately.
The most important thing is the accelerated growth in the number of Dormant wallets that has happened lately during this Bull Market, something quite strange, I would say, since, if at any time this growth of Wallets should stop, it would be now, IMO.
To put all the data in the table:
Approximately 8 Million have been generated during the last year and a half, according to what can be seen in Bitinfocharts
In other words, if until the end of 2020 the growth in the number of dormant wallets was of the "proportional" type, during the last year and a half it has been of the "Exponential
Additionally, let me also tell you that these dormant wallets store more than 10% of the total BTC Supply
I don't know about you, surely some of you who believe that BITCOIN is a dead blockchain with no "real" utility may think that this proves their thesis... however, for satoshi accumulators like myself also called "Bitcoiners", we have another reading...
I believe that in every bullish cycle there are newcomers and people who enter crypto at Risk, believing they can make money in the short term... and certainly, some do.
When the Bull Market reverses, some of them leave terrified, fleeing at a and acclaiming how bad it is to speculate in crypto... and then, there are others, who study a little, try to understand the technology and its real use
They realize the importance of the "invention" , the ability to transfer value in a fully distributed and decentralized manner and why BITCOIN is a "better money" than traditional money...
above all, some more advanced people will understand that BITCOIN is unconfiscatable, or I dare to say, almost unconfiscatable... and they will see that no third person (ie governments, banks etc...) will be able to "take away" their BITCOINS if they are stored by the owner himself (OWN YOUR KEYS)...
Later, these same people will wonder if other altcoins or shitcoins really have the same properties, and will start asking questions to themselves:
- Is its management really distributed and decentralized?
- Is there an owner of that distributed network?
- How much power does the creator or creators of a token/blockchain have to plunge it into misery?
- are they really unconfiscatable?
Those, among others, are the basic questions to be asked... and then understand why every day there are more of us who hold BITCOIN and a few other alts that may accomplish the listed requirements and, surely, mya add some extra properties to take into account, for instance, how much does it cost to do an operation at the fee level?
In any case and, as usual, this is only my opinion (and I guess also the opinion of the majority of the BTC holders) which I am just writing here, DYOR is, and will be always, the best advice I can give you on Crypto.
@toofasteddie
Posted Using LeoFinance Beta
