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Bitcoin: only 0.01% of users control almost 30% of the cryptocurrency

Concentration of wealth. Only 0.01% of users who own bitcoins control 27% of the offer, a statistic very similar to that of the traditional dollar, which occupies 30% of the total wealth of that country in 1% of the US population. , according to a report collected by The Wall Street Journal.

For the report, a decade after it was launched on the market, only 10 thousand of the 144 million current users have about 5 million digital currencies, equivalent to 232,000 million dollars.

Likewise, about 90% of transactions with this cryptocurrency are the result of two activities that do not have a real economic function, according to the conclusions of the report by the National Office for Economic Research.

The first of the activities involves the mechanisms with which the network processes its exchanges, while the second is the bitcoins sent between wallets of the same user, in an attempt to conceal their identity. The remaining 10% are transactions between different types of exchanges and exchanges between institutional investors.

The report also reveals that 10% of the main miners control 90%, of which only 0.1%, about 50 miners, own about 50% of the mining capacity. These figures are significant because they put the authenticity or security of the bitcoin market back on the table.

“This threat is based on half plus one of the miners agreeing to hack the rest of the community to rewrite the chain of operations, which would allow them to create new bitcoins and carry out exchanges without being its owner,” he says.

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