While the price of Bitcoin was reaching all time highs at the end of 2017, behind the scenes, dust was accumulating.

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What managing a large wallet after the 2017 bull run must have looked like

High demand for transactions conjoined with limited available block space led to increasingly higher fees. This prevented exchanges and other entities maintaining large Bitcoin wallets from doing their otherwise regular sweeping and consolidating of user funds into larger, more manageable pieces.

For some companies, high fees highlighted an issue otherwise ignored but that could cost them a lot: owning coins whose value is so small that it costs more to spend them that what they are worth, lots of those. …

About

Antoine Le Calvez

Data @Blockchain. Creator of https://p2sh.info and https://forks.network

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