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Topic: actual number of people using Bitcoin? - page 28. (Read 60161 times)

sr. member
Activity: 672
Merit: 250
January 19, 2017, 12:49:47 PM
Add up the users of third party payment providers, and you'll have a very close approximation. Disregard the number of users using multiple such services, assuming that number quasi-equals the number of people using Bitcoin anonymously (or pseudo-anonymously). I'd say that the resulting number will be pretty damn close.

I don't think it is possible to have a close estimate of that. No matter what you do but you will always miss the numbers because we don't even know how many users are joining or leaving bitcoin everyday from all corners of the world. Not every single bitcoin user exposes themselves in the community so that they can be counted.
hero member
Activity: 826
Merit: 502
January 19, 2017, 09:02:04 AM
I think it would take a lot of research for that. There are factors that make it difficult, such as the fact that many users are anonymous. This can cause a significant margin of error. But if the research is done so that users could also participate anonymously, this problem could be mitigated.

Most probably not all bitcoin users would participate in that survey for the population of bitcoins and even a single troll can create a script that would spam the survey and enter random information just to, you know, mess up the whole statistics thing. Since we're all anonymous, anyone can do anything and I think that would always end up with no success at all most especially at a topic as insignificant as this - identifying how many bitcoin users there are. We don't even need that data that much.
It's indeed pointless to trust on surveys as they can be easily manipulated. But I personally don't even bother with trying to know how many people are using Bitcoin.

Mainly because of the fact that it is difficult to categorize people as Bitcoin user.

Do people need to use Bitcoin once a month, once a week, several times a week, or is once a year enough to mark someone as a Bitcoin user.

If you look at the transaction volumes, then it's safe to say that the level of usage has significantly increased over the years. But yet again it doesn't point to a number of people using Bitcoin.

One thing we can notice with Paypal, bitcoin, or other payment methods.. They can't put something like, "there's this certain number of users using our service." simply because they don't know that. They can only put things like "300 transactions are going on every minute in our website" or something like that. Even if we do some survey and the majority of people cooperate, we still can't use that data because it's not reliable, thus, inaccurate. Even TV news wouldn't trust that survey.
vip
Activity: 1428
Merit: 1145
January 18, 2017, 09:11:18 PM
Add up the users of third party payment providers, and you'll have a very close approximation. Disregard the number of users using multiple such services, assuming that number quasi-equals the number of people using Bitcoin anonymously (or pseudo-anonymously). I'd say that the resulting number will be pretty damn close.
hero member
Activity: 1092
Merit: 501
January 18, 2017, 08:32:57 PM
Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.

By determining the actual number of people which is the bitcoin user is very difficult to trace actually.  So far the only access I know about the information is we can trace the bitcoin wallet in the history.
hero member
Activity: 1148
Merit: 504
January 18, 2017, 05:55:48 PM
I think it would take a lot of research for that. There are factors that make it difficult, such as the fact that many users are anonymous. This can cause a significant margin of error. But if the research is done so that users could also participate anonymously, this problem could be mitigated.
because in fact bitcoin is decentralized and anonymous so that you will not know how many actual bitcoin, if centralization or have control like paypal. of course, users can be calculated but bitcoin is different
hero member
Activity: 630
Merit: 500
Cryptocurrency Wallet - Denaro.io
January 18, 2017, 05:29:21 PM
The actual number of these people who uses bitcoin could not be counted one by one because most of them were anonymous. For me if I will to relate litterally, its more like an number with an increasing value thats incrimental which can be compared to the cycle of population in the whole world. They numbers of these users increased because profit from bitcoin really attracts to those people  due to its fluctuating price and ince the price strikes up to the top, the big profits is their chance for good investments.
legendary
Activity: 2912
Merit: 1068
WOLF.BET - Provably Fair Crypto Casino
January 18, 2017, 01:49:02 PM
At the moment I can't see how the number of people using Bitcoins could be determinated, there is no objective method. Surveys could be very unreliable and question is what number of people could they include. And would all people admit they are using Bitcoin. You certainly can't rely on the number of wallets, addresses or transactions so I don't have the solution.
legendary
Activity: 1526
Merit: 1179
January 18, 2017, 09:21:47 AM
I think it would take a lot of research for that. There are factors that make it difficult, such as the fact that many users are anonymous. This can cause a significant margin of error. But if the research is done so that users could also participate anonymously, this problem could be mitigated.

Most probably not all bitcoin users would participate in that survey for the population of bitcoins and even a single troll can create a script that would spam the survey and enter random information just to, you know, mess up the whole statistics thing. Since we're all anonymous, anyone can do anything and I think that would always end up with no success at all most especially at a topic as insignificant as this - identifying how many bitcoin users there are. We don't even need that data that much.
It's indeed pointless to trust on surveys as they can be easily manipulated. But I personally don't even bother with trying to know how many people are using Bitcoin.

Mainly because of the fact that it is difficult to categorize people as Bitcoin user.

Do people need to use Bitcoin once a month, once a week, several times a week, or is once a year enough to mark someone as a Bitcoin user.

If you look at the transaction volumes, then it's safe to say that the level of usage has significantly increased over the years. But yet again it doesn't point to a number of people using Bitcoin.
hero member
Activity: 966
Merit: 506
January 18, 2017, 09:21:11 AM
No actual number defines on how many are bitcoin users,seems like everyone is anonymous and even a very private individual who are enjoying the good benifits bitcoin gives.For these days it depends on how the market works and how many are really interested and willing to know.
actually is already clear, bitcoin anonymous and it makes all the users are not visible and moreover bitcoin decentralization of course no one can calculate the total users of bitcoin itself
yes that is right to say and that is the reason that the actual number of bitcoin users cannot be find so easily, because bitcoin s anonymous and any information about its users is unknown.
It's a guessing game, if you guess it right you make the right decision. You know, people think that bitcoin is the future which I agree on that also but we need to make sure our prediction is properly supported by valid information.
Bitcoin is not totally 100% anonymous. If you are patient enough, I think you can analyze https://www.walletexplorer.com/ and calculate the number of wallets is being generated. After that, I think you will have the final number about the number of people using Bitcoin which is around the number of wallets you have checked

Wallet explorer site is not a valid information about wallets and few times it does not show correct information. It is almost impossible to find out the actual number of bitcoins users. Each wallet has many addresses and the addresses unused are not identifiable even by wallet explorer.
sr. member
Activity: 378
Merit: 251
A Trader & An Investor
January 18, 2017, 09:16:46 AM
It going to be very hard to find the number of people who are using bitcoin. I don't think anyone can give you  a solid number, it will be a lot of guess work. But as long as bitcoin is growing strong, it doesn't matter.
hero member
Activity: 826
Merit: 502
January 18, 2017, 09:08:20 AM
I think it would take a lot of research for that. There are factors that make it difficult, such as the fact that many users are anonymous. This can cause a significant margin of error. But if the research is done so that users could also participate anonymously, this problem could be mitigated.

Most probably not all bitcoin users would participate in that survey for the population of bitcoins and even a single troll can create a script that would spam the survey and enter random information just to, you know, mess up the whole statistics thing. Since we're all anonymous, anyone can do anything and I think that would always end up with no success at all most especially at a topic as insignificant as this - identifying how many bitcoin users there are. We don't even need that data that much.
hero member
Activity: 490
Merit: 500
January 17, 2017, 06:59:47 PM
I think it would take a lot of research for that. There are factors that make it difficult, such as the fact that many users are anonymous. This can cause a significant margin of error. But if the research is done so that users could also participate anonymously, this problem could be mitigated.
hero member
Activity: 2044
Merit: 784
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January 17, 2017, 11:37:58 AM
this question is nonsense! someone who has common sense knows that no one can guess the actual number of bitcoin users because one of the good characteristics of bitcoin is you can use it anonymously! many people using bitcoin wants to hide their identity because it is also being used in illegal activities!

Just because we don't currently have the answer to a question or don't know how to obtain one, doesn't mean the question shouldn't be asked.

You are right. Doesn't matter we don't have the exactly answer, this question can help us to search for the currently number of bitcoin users, knowing this we can see how is going the bitcoin accepting by the world, if the users number is increasing fast or slow, if people are liking the bitcoin facilities and features, we can know how succesfully is bitcoin for now. People saying something shouldn't be asked is the real nonsense here.
sr. member
Activity: 434
Merit: 250
January 17, 2017, 11:34:29 AM
this question is nonsense! someone who has common sense knows that no one can guess the actual number of bitcoin users because one of the good characteristics of bitcoin is you can use it anonymously! many people using bitcoin wants to hide their identity because it is also being used in illegal activities!

Just because we don't currently have the answer to a question or don't know how to obtain one, doesn't mean the question shouldn't be asked.
legendary
Activity: 1596
Merit: 1011
January 17, 2017, 06:17:00 AM
this question is nonsense! someone who has common sense knows that no one can guess the actual number of bitcoin users because one of the good characteristics of bitcoin is you can use it anonymously! many people using bitcoin wants to hide their identity because it is also being used in illegal activities!
I agree with you . there is no system that can detect the number of users bitcoin.
especially everyone can have a lot wallet address. it can not be calculated and is also a tough job.
hero member
Activity: 1176
Merit: 509
January 17, 2017, 06:10:55 AM
this question is nonsense! someone who has common sense knows that no one can guess the actual number of bitcoin users because one of the good characteristics of bitcoin is you can use it anonymously! many people using bitcoin wants to hide their identity because it is also being used in illegal activities!
hero member
Activity: 560
Merit: 500
January 14, 2017, 05:30:50 PM
Impossible to estimate the number of user using bitcoins because there are a lot of transactions going on and we cannot count how many transactions a person make on average like I do 10 transactions a day while a friend of mine gamble whole day and hence make 1000 tx per day.
This parameter would certainly not be the best for such analysis. Even using the number of wallets in existence is difficult to make a good estimate, because there are individuals who create different wallets. This is a study that should involve other analytical techniques, it could even include questionnaires to know which users are active on the network, and then make an estimate.
full member
Activity: 154
Merit: 100
January 09, 2017, 05:59:27 AM
No actual number defines on how many are bitcoin users,seems like everyone is anonymous and even a very private individual who are enjoying the good benifits bitcoin gives.For these days it depends on how the market works and how many are really interested and willing to know.
actually is already clear, bitcoin anonymous and it makes all the users are not visible and moreover bitcoin decentralization of course no one can calculate the total users of bitcoin itself
yes that is right to say and that is the reason that the actual number of bitcoin users cannot be find so easily, because bitcoin s anonymous and any information about its users is unknown.
It's a guessing game, if you guess it right you make the right decision. You know, people think that bitcoin is the future which I agree on that also but we need to make sure our prediction is properly supported by valid information.
Bitcoin is not totally 100% anonymous. If you are patient enough, I think you can analyze https://www.walletexplorer.com/ and calculate the number of wallets is being generated. After that, I think you will have the final number about the number of people using Bitcoin which is around the number of wallets you have checked
Good information but I think no one has time to check those wallets. it's plenty of wallets are there it may take a long time to find out. But still, i am not sure we will get all bitcoin users information from this. the bitcoin forum also one of the source to find out how many people are using Bitcoin.

Well i do agree if we didnt count also the double account and farmed accounts! Well i dont know what is the actual number of people using bitcoin. Well we could say about the wallet ! the active wallet! it can be one of the source to know the actual number how many are using bitcoin in the world
Good, and I think it is difficult to prove, it is important bitcoin capital market is already huge, even bigger than the foreign exchange reserves of some countries. Bitcoin changed financial system, so the actual number of course is big.
hero member
Activity: 798
Merit: 505
January 09, 2017, 05:32:54 AM
No actual number defines on how many are bitcoin users,seems like everyone is anonymous and even a very private individual who are enjoying the good benifits bitcoin gives.For these days it depends on how the market works and how many are really interested and willing to know.
actually is already clear, bitcoin anonymous and it makes all the users are not visible and moreover bitcoin decentralization of course no one can calculate the total users of bitcoin itself
yes that is right to say and that is the reason that the actual number of bitcoin users cannot be find so easily, because bitcoin s anonymous and any information about its users is unknown.
It's a guessing game, if you guess it right you make the right decision. You know, people think that bitcoin is the future which I agree on that also but we need to make sure our prediction is properly supported by valid information.
Bitcoin is not totally 100% anonymous. If you are patient enough, I think you can analyze https://www.walletexplorer.com/ and calculate the number of wallets is being generated. After that, I think you will have the final number about the number of people using Bitcoin which is around the number of wallets you have checked
Good information but I think no one has time to check those wallets. it's plenty of wallets are there it may take a long time to find out. But still, i am not sure we will get all bitcoin users information from this. the bitcoin forum also one of the source to find out how many people are using Bitcoin.

Well i do agree if we didnt count also the double account and farmed accounts! Well i dont know what is the actual number of people using bitcoin. Well we could say about the wallet ! the active wallet! it can be one of the source to know the actual number how many are using bitcoin in the world
legendary
Activity: 3514
Merit: 1280
English ⬄ Russian Translation Services
January 09, 2017, 05:22:58 AM
You're right, if we can convince more people to use Bitcoin everyday like currency then the speculators will get what they want - a continuously rising price that's stable. If Bitcoin had any kind of large daily user economy that was constantly growing it would be almost impossible for the exchange rate to not continuously rise and these $2-3-4 hundred dollar "corrections" to the exchange rate would disappear. It would be devastating to the world economy if the value of the dollar could lose or gain 40-70% overnight. No business in the world would be willing to sell anything for dollars

This is an impossible thing

Unless Bitcoin gets widely adopted first (but that seems to be even less possible). The price may rise but it can't possibly rise in a steady stable manner. And what's even more nasty in this lie of the land is that volatility will increase faster than the price growth. I was telling that many times, but the recent magnificent rally and no less magnificent crash that followed (and we are likely not done yet, i.e. expect more to come) seem to be proving my point. People are mainly using Bitcoin for hoarding so we are basically stuck between the nether and upper millstone in the case price is set to rise

Doesn't volatility decrease over time with bitcoin?

How long ago did you look at the Bitcoin price charts yourself?

If you somehow missed the last events, the Bitcoin price at first rose over 40% and then crashed down 30% (basically the same amount in absolute terms), all in less than three weeks. That was probably the biggest rally and the hardest fall since Bitcoin inception (at least, in absolute values) taking into account the time span within which everything happened. What is it if not insane volatility?

Of course I've been watching, but I also didn't say that bitcoin isn't volatile now. I said that over time as the reward from mining decreases, so should volatility, no?

How is the mining reward related to Bitcoin volatility?

If you mean to say that the diminished mining reward will cause less supply of new bitcoins to the market and that would somehow help stabilize Bitcoin prices, then I can't possibly agree with this, up to a point of claiming the exact opposite. Namely, that the decreased supply will cause even higher volatility because prices will soar and the markets will become thinner. And that would make the perfect case for Bitcoin volatility outperforming Bitcoin price
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