Evolution of the distribution of balances of individual Bitcoin addresses.

<p>The distributions are shifted by arbitrary factors along the vertical axis for better visibility of the separate lines. The black lines are stretched exponential and power-law fits of the last empirical distribution. The tail can be approximated by a power-law with exponent , however, the rest of the fit is unsatisfactory. Therefore, we fit the distribution with a stretched exponential distribution of form . We find a better approximation of the whole distributions; the parameters are and .