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It is not difficult to say that there are all sorts of different attitudes when it comes to cryptocurrency and blockchain. There are individuals who are simply concerned about using Bitcoin and other cryptocurrencies as an investment vehicle to trade, or hold, for wealth, for example. There are other people who truly believe in principles such as decentralization and transparency and believe that blockchain technology will also help to create a more just world. There are also others who are interested in seeing how the blockchain changes specific sectors, such as retail, infrastructure, production and logistics.
A recent studies has shown that there is certainly a significant amount of the population that is seriously intent on holding Bitcoin. Specifically, a study by Chainalysis showed that, although there are 460 million Bitcoin addresses (BTC), many of them have no economic value, or even do not hold Bitcoins at all.
Study details
Chainalysis discovered that with the impressive 288 Bitcoin addresses, 93% of them were used only once, which could surprise some cryptocurrency enthusiasts. These addresses currently do not contain actual balances.
Basically, it appears that these portfolios have been created to facilitate a certain amount of payments over a certain period of time, between two individuals or for certain services, and are not used continuously.
More information
This certainly does not disprove the fate of the cryptocurrency industry, especially considering how much the crypto-currencies markets have been in the past year. Researchers are simply discovering specific information and how and when individuals buy and hold cryptocurrency. For example, they said: "We estimate that on average only 20% of the value of the bitcoin transaction is economic, as it is a final transfer between different people via economically relevant addresses. The remaining 80 percent is returned as a change. "
For those who are not aware, Chainalysis is a blockchain surveillance company that has gained traction in the industry. it raised millions at the beginning of this year, and the company also recently announced a high profile partnerships with Binance, the world's largest cryptocurrency exchange by volume.
