Chainalysis is a company that tries to monitor and investigate sources and destinations of possibly illegal or fraudent transactions but in the end it simply means – its scouting blockchain to find all users and places they want. I’m actually totally again such companies but the reports they do are at least of some use.

Today they released a report which says that most of the investors held their position during this summer and didn’t dump BTC after fall from 20 000 in December.

What is more interesting in their findings is that 36% of Bitcoins in circulation are probably lost or unmined.

30% of bitcoin held to come from investors and just 22% are used by speculators to move markets.

If this analysis is true we should see the bull market coming soon and the prices of old ATH 20k USD to be surpassed.

On the other hand, we know its impossible to verify if coins are really lost or just untouched so that report i suggest to treat with a grain of salt.

Its highly possible that a lot of coins are lost these days, especially that many people did not know how to use wallets or store keys, many phones were lost etc. I personally know of people who burned at least 100 BTC. One friend lost the phone in Thailands sea with 10 BTC, few people lost passwords to .dat files etc. The unmined and dropped blocks are also a big factor especially since some ASIC companies were playing with mining protocol or from old days when GPUs often did not work as they should.

Imho BTC is the most lost coin of all cryptos but only time will tell if the coins of Satoshi (which everyone calls dead/lost)  wont move and start the snowball of other old wallets.

Full analysis of Chainalysis is at  https://blog.chainalysis.com/reports/money-supply-q3 but the article is my words and my take on the situation.

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Responses

  1. Workin2005

    Nice write up. I think there’s a very real possibility roughly 30% of circulating BTC are lost for good. It’ll be interesting to see if the BTC in Satoshi’s assumed wallet ever starts moving.

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  2. Adil Elias

    It’s certainly possible, but I’d like to imagine that some of it is still laying there untouched for some reason. I have a friend who recently found 30BTC he’d totally forgot about from years ago… I know it’s an isolated incident, and that most of it is probably just lost, it’s a shame.

    Nice write up btw!

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  3. Zeus69

    OMG, seriously, this could be true? Imagine being the people that lost that, they must be freaked out, like losing a lottery ticket.
    Great write, thank you
    Food for thought.
    Regards,
    Mark (Zeus69)

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