We lost Tamas too early, he was a great thinker & did some very valuable work for Bitcoin.

Perhaps he was a bit too pessimistic about this though. I’ve seen measures of Bitcoin’s gini coefficient near the 0.6–0.65 range from a few other sources.

HODLers are not transacting, and the largest wallets are held by exchanges who are custodying Bitcoin on behalf of potentially millions of people (Coinbase, Grayscale, etc)

That has to be accounted for in the gini coefficient numbers.

I think what Tamas graphed here was not really gini coefficient, but something more interest and useful to be applied for cryptocurrencies only.

I’d be interested to see how this compares to other cryptocurrencies, and maybe Tamas created a new fundamental analysis tool for cryptocurrencies.