Talk presented at BlockNet 2018 Paris in conjunction with NetSci 2018

1. The interplay between network
structure and market effects in Bitcoin
Gábor Vattay
Physics of Complex Systems
Eötvös Loránd University

2. MIT UC Davies
Ericsson
ELTE ELTEEricsson
ELTE

4. F. Reid & M. Harrigan
SocialCom2011
Our data is available at
www.vo.elte.hu/bitcoin
nice talks in the morning:
Matthieu Latapy
Laetitia Gauvin

5. The growth of the Bitcoin network.
Kondor D, Pósfai M, Csabai I, Vattay G (2014) Do the Rich Get Richer? An Empirical Analysis of the Bitcoin Transaction Network.
PLOS ONE 9(2): e86197. https://doi.org/10.1371/journal.pone.0086197
http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0086197

6. NETWORK SCIENCE BASICS

8. Distribution of time delay between transactions initiated
from a single Bitcoin address.

9. Evolution of the in-degree distribution.
Slope: -2.18

10. Evolution of the out-degree distribution.
Slope: -2.06

11. Evolution of the Gini coefficient of the degree and the balance
distributions.

12. Evolution of the clustering coefficient and the out-in degree correlation
coefficient.

13. The average in-degree of neighbors in the function of the out-degree
nodes with high out-degree tend to connect to nodes with low in-degree

14. Nonlinear preferential attachment

15. Sub-linear preferential attachment leads to
stretched exponential

16. Nonlinear preferential attachment
is uniformly distributed in the unit interval, independent of t

17. Rank function for new link creation.
Kolmogorov-Smirnoff distance

18. Evolution of the distribution of balances of individual Bitcoin
addresses.
Slope=-1.98

19. Change of balances in one month windows.

20. Rank function for the growth of balances.

21. Average node balances as a function of the indegrees.

22. PRICE AND TOPOLOGY

23. PCA for Long Term and Active Users

24. Singular values

25. Structural changes in the core
Base networks

26. Base network contriburions

27. Singular vectors correlate with
BC exchange price

28. First singular vector vs. market price

29. Goodness of fit

30. Largest eigenvalue vs. largest Pearson

31. GEOLOCATION

32. http://www.vo.elte.hu/papers/2017/bitcoin/

33. PlanetLab: a distributed computerlab

34. Travel time – distance relation
• reference dataset (nodes with known location)
• distance between the source and destination
• measured RTT

35. The distances are normally
distributed for a given RTT
each RTT point out a radial profile with
m(d) and s(d) => which defines the
spatial probability distribution of the
target
Evaluation process

36. Trilateration

37. Where is the WikiLeaks site (46.59.1.2)?
Spotter

45. Thank you!
vattay@complex.elte.hu