27-10-2021, 07:14 AM
PUBLISHED OCT 26, 2021, 11:55 AM SGT
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The top 10,000 individual investors in Bitcoin control about one-third of the cryptocurrency in circulation
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"This measurement of concentration most likely is an understatement, since we cannot rule out that some of the largest addresses are controlled by the same entity," researchers Igor Makarov and Antoinette Schoar wrote.
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The concentration of miners is even more profound, data shows. NBER found that the top 10 per cent of miners control 90 per cent of Bitcoin mining capacity and just 0.1 per cent (about 50 miners) control 50 per cent of mining capacity.
Such a high concentration could make the Bitcoin network vulnerable to a 51 per cent attack, where a colluding set of miners or one miner is able to take control of a majority of the network.
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"This inherent concentration makes Bitcoin susceptible to systemic risk and also implies that the majority of the gains from further adoption are likely to fall disproportionately to a small set of participants."
https://www.straitstimes.com/business/ba...tudy-finds
......
The top 10,000 individual investors in Bitcoin control about one-third of the cryptocurrency in circulation
......
"This measurement of concentration most likely is an understatement, since we cannot rule out that some of the largest addresses are controlled by the same entity," researchers Igor Makarov and Antoinette Schoar wrote.
......
The concentration of miners is even more profound, data shows. NBER found that the top 10 per cent of miners control 90 per cent of Bitcoin mining capacity and just 0.1 per cent (about 50 miners) control 50 per cent of mining capacity.
Such a high concentration could make the Bitcoin network vulnerable to a 51 per cent attack, where a colluding set of miners or one miner is able to take control of a majority of the network.
......
"This inherent concentration makes Bitcoin susceptible to systemic risk and also implies that the majority of the gains from further adoption are likely to fall disproportionately to a small set of participants."
https://www.straitstimes.com/business/ba...tudy-finds