What are “bitcoin days destroyed,” how is it calculated, and what is the significance of this maturity figure?

This question was part of the (late) August monthly live Patreon Q&A session, which took place on September 1st 2018. If you want early-access to talks and a chance to participate in the monthly live Q&As with Andreas, become a patron: https://www.patreon.com/aantonop

RELATED:
How do I choose a wallet? – https://youtu.be/tN6b62sEpsY
Secure, tiered storage system – https://youtu.be/uYIVuZgN95M
Hardware wallets and attack surface – https://youtu.be/8mpDcBfNA7g
Setting up secure storage devices – https://youtu.be/wZ9LxLLvfXc
What is a private key? – https://youtu.be/xxfUpIV9wRI
How do mneomonic seeds work? – https://youtu.be/wWCIQFNf_8g
Using paper wallets – https://youtu.be/cKehFazo8Pw
Wallet design and mass adoption – https://youtu.be/WbZX6BDZJHc
Cryptographic primitives – https://youtu.be/RIckQ6RBt5E
Public keys vs. addresses – https://youtu.be/8es3qQWkEiU
Re-using addresses – https://youtu.be/4A3urPFkx8g
Passphrases and seed storage – https://youtu.be/jP7pEgBpaO0
Coin selection and privacy – https://youtu.be/3Ck683CQGAQ
Multi-signature and distributed storage – https://youtu.be/cAP2u6w_1-k
Nonces, mining, and quantum computing – https://youtu.be/d4xXJh677J0
Is quantum computing a threat? – https://youtu.be/wlzJyp3Qm7s
Spam transactions and Child Pays For Parent – https://youtu.be/t3c0E4fkSNs
Orphaned blocks and stuck transactions – https://youtu.be/MsdW0CTYwyY
Denominations and voluntary burning – https://youtu.be/tqL0ehMRxbk
Miners, pools, and consensus – https://youtu.be/JHz7LM4ncLw
Software distribution security – https://youtu.be/_V0vqy046YM
Protocol development security – https://youtu.be/4fsL5XWsTJ4
Geopolitics and state-sponsored attacks – https://youtu.be/htxPRTJLK-k
How to get people to care about security – https://youtu.be/Ji1lS9NMz1E
Honest nodes and consensus – https://youtu.be/KAhY2ymI-tg
Why running a node is important – https://youtu.be/oX0Yrv-6jVs

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

[NEW] THE INTERNET OF MONEY, v2: https://www.amazon.com/Internet-Money-Andreas-M-Antonopoulos/dp/194791006X/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Translations of MASTERING BITCOIN: https://bitcoinbook.info/translations-of-mastering-bitcoin/

Subscribe to the channel to learn more about Bitcoin & open blockchains!

Music: “Unbounded” by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)

source

20 COMMENTS

  1. You, Mister Antonopoulos, are more punk than punk, and I salute you. In this video, I would have loved to know the numbers on what a "good day" vs a "bad day" would be in Bitcoin Days Destroyed. Which, by the way, is a helluva name for a punk band. Bitcoin Days Destroyed.

  2. super, I'm glad to have found your channel, I speak Spanish and with the subtitle in English and its very good pronunciation and didactics I understand it quite well, congratulations for your contribution to the community, greetings from Caracas Venezuela.

  3. Some people say that 0-conf transactions are low-risk as long as it's a low-value payment because few people are going to go through the trouble of crafting a doublespend if the gain is small. Others say that 0-conf transactions are not safe for any payment, because all it takes is a popular wallet adding "attempt a double spend" as a default option, and suddenly 5% of all 0-conf transactions become double spends. Are 0-conf transactions safe for low-value payments?

  4. Is Hodl eventually bad for economy. Wealth locked up in Address, or Hardware wallet is not available to be lent out to people needing to buy a house, Farmer to buy a needed barn, small business to fund inventory. How can that eventually work with this new currency.

  5. Thanks Andreas. If you can, please adjust the volume of the outro to be on the same level as the video, because I always have to quickly lower the volume before the outro starts to avoid waking the whole house

  6. Question for Andreas:
    Back in 2009 I mined 10$ worth of Bitcoin. But I later on destroyed the HDD it was stored on. So approximately 10,000 bitcoins were forever lost. Back than they were about 10 bitcoin per penny.

    Is there a way to know how many bitcoins are missing and no longer in circulation?

LEAVE A REPLY

Please enter your comment!
Please enter your name here