The first two weeks of the sale of ether are finished, and we have to date received Over 25,000 BTC to sell more than 50 million ETH. This marks the largest sale of cryptographic token to date, and with the two endowments, ETH is the token with the 8th highest total valueeven by beating the beloved Dogecoin to 15.5 m. A total of 6,670 transactions were made, with values ranging from the minimum 0.01 BTC to a maximum of 500 BTC, and purchases continue to come every hour. In addition, the sale of ether marks the greatest use of multisig to date; Due to our sale, the percentage of all BTCs stored in multisig increased by 0.23% to 0.41% in the last two weeks only – in other words, the 3 private keys out of 4 are divided between our different sites control 45% of all BTC stored in existing multisig addresses.
The purpose of this position will be to provide an overview of certain sales statistics so far. The data was taken yesterday when we had 24,000 BTC and assumes that all purchases were for 2000 ETH / BTC (a hypothesis which is not strictly true, but the term error is tiny enough for it to be reduced in complete safety). We have first This spreadsheetwhich shows the purchases of ether over time.
The individual points are by block; The graph shows that the distribution is strongly divided into two clusters, with a cluster closer to the start of the sale and the other near the end of the period of the arrangement. Purchases decrease sharply once the new price level of 1970 ETH / BTC (now 1910 ETH / BTC) came into play. If you buy towards the end of the full layout period, you get the same price as people who bought at the beginning, but also benefit from having more information – namely a better idea of the exact percentage of all ETH that you are going to get. Thus, the fact that the majority of purchases occur at the end shows that ether buyers are generally a rather sophisticated audience – which, I suppose, you should be if you have managed to be convinced to exchange your BTC harshly won against cryptographic tokens supported by a concept of “generalized consensus calculation”.
Of course, it is important to note that there are also reasons to buy at first. Some people participate in the sale out of desire to support the project, and some major buyers may have had the priming effect In mind, where to put larger sums (for example, invoices) in a tilting jar at the very beginning increases the total amount received because it gives the impression that the recipient is significant and deserves greater contributions.
At this point, we can expect to see a declining flow that will stabilize in the coming days, then a smaller final point on day 42. The graph below shows the cumulative ether sold to this point:
The other interesting thing to analyze is the distribution of purchases. This spreadsheet Contains a list of purchases organized by purchase size. The largest unique purchase was 500 BTC (1 million ether), followed by one to 466 BTC (933 580 ETH) and 330 BTC (660 360 ETH). We have not received any requests to Grandpurchases@ethereum.org. If we organize purchases per size, we obtain the following two graphs, one for the quantity of purchases and one for the amount of the ETH bought, by purchase size:
Note that this only applies to purchases. There is also another slice of ether which will soon be distributed, which is the endowment. The parties in which the endowment should be distributed the spreadsheet; The largest is equal to 0.922% of all the ether purchased (that is to say 0.369% of the total offer after five years) and the smallest is 0.004%, with 81 people in total receiving a share. If you are one of the recipients, you will be contacted shortly; If you are not, there is still a second tranche whose distribution has not been decided.
Distribution and Gini indices
As a last set of interesting statistics, we have calculated three Gini clues:
- Gini index of ether buyers: 0.832207
- Gini endowment index: 0.599638
- Gini index of the whole whole: 0.836251
A Gini index is a common measure of inequality; The way in which the Gini index is calculated is to draw a graphic, the two axes going from 0% to 100%, and the layout of a line where the coordinate Y has a particular X coordinate is calculated as the part of all income (or wealth) which belong to the X percent of the population. The area between this curve and a diagonal line, partly of the area of the entire triangle under the diagonal line, is the Gini index:
In an ideal society of perfect equality, the coefficient would be zero; The lower x% of the population would obviously have x% of wealth, like any other X% of the population, so the cumulative wealth distribution graph would be exactly the diagonal line and therefore the area between the graph and the diagonal line would be zero. In the opposite scenario, an ultimate dictatorship where a person controls everything, the lower X% would have exactly nothing until the last person, who would have everything; Consequently, the area between this curve and the diagonal line would be equal to the entire area under the diagonal line, and the coefficient would be exactly one. Most real world scenarios are between the two.
Note that Gini’s wealth coefficients and Gini income coefficients are different things; We measure the quantity of people and that one measure the rate to which people receive. Because Savings are superliner in incomeWealth coefficients tend to be higher; The Gini wealth coefficient in the United States, for example, is 0.801And the world’s coefficient is 0.804. Since the Gini coefficients in the real world measure the inequality of access to resources, and the Gini coefficients in the distribution of cryptocurrencies arise from both the inequality of resources and the inequality of interest (some people are slightly careful with Ethereum, some people care about Gini), 0.836 is a fairly decent result – Bitcin Gini coefficient was measured at 0.877. The top 100 ETH holders are responsible for 45.7% of all ETH, a lower percentage than the 100 best holders Consumer altcoinsWhere this statistic tends to be between 55% and 70%.
Of course, these last two comparisons are misleading – the Ethereum ecosystem has not even started to run, and services such as exchanges which centralize monetary units in a few portfolios without centralizing legal property ends up artificially swelling both the Gini index and the top 100 of cryptocurrency networks which are really alive. Once Ethereum has been launched, the Gini index may well prove impossible to estimate with precision, because large quantities of ether will be stored inside decentralized applications arbitrary, Turing-Complete, and therefore In many cases, mathematically impenetrablesets of rules on how ether can be removed.
The sale has another 28 days to do; Although we don’t expect much from this remaining period, anything is possible. The organizational problems being completed, the organization is preparing to considerably increase development, putting us on the fast track to finally complete the Ethereum code and launch the Genesis block; ETA winter 2014-2015.
