actual number of people using Bitcoin? - page 56.

randy8777

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Quote from: randy8777 on August 25, 2016, 09:36:15 AM

Quote from: ironm@n on August 25, 2016, 09:32:33 AM

A huge research would be necessary, could still exist high margin of error in the results.

research will lead to more guesses as exchanges and other popular services won't release any details about how many unique users they have. surveys online and in the streets won't do anything either as people can simply make up everything. especially when they get a small reward for completing the survey.

That's not the main problem, i think there's no major benefits of finding out actual number of bitcoin in this world Roll Eyes

Maybe would be better if there's research about what people know about bitcoin and why they don't want to use bitcoin.

no benefits indeed, but more for statistical purposes for what it's worth. actually, back in 2014 there has been a major news channel having done some research by asking people in the streets whether or not they know what bitcoin is. the people that have heard about it compared bitcoin with the tulip mania back then. they also said to not use bitcoin because they can't hold it in their hands like they do with cash money. that's ignorance from the highest levels.

btcdevil

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Quote from: randy8777 on August 25, 2016, 09:36:15 AM

Quote from: ironm@n on August 25, 2016, 09:32:33 AM

A huge research would be necessary, could still exist high margin of error in the results.

research will lead to more guesses as exchanges and other popular services won't release any details about how many unique users they have. surveys online and in the streets won't do anything either as people can simply make up everything. especially when they get a small reward for completing the survey.

That's not the main problem, i think there's no major benefits of finding out actual number of bitcoin in this world Roll Eyes

Maybe would be better if there's research about what people know about bitcoin and why they don't want to use bitcoin.

This is what you told is correct, finding the actual users of bitcoin is high impossible as their are so many single users who are holding more then 10 wallets and unlimited numbers of address and even on each wallet address sent transaction the wallet creates a new wallet for new transaction. So it is no possible

so it better that we can do research that how many peoples in the world are knowing about bitcoin and how many are using it.

randy8777

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Quote from: ironm@n on August 25, 2016, 09:32:33 AM

A huge research would be necessary, could still exist high margin of error in the results.

research will lead to more guesses as exchanges and other popular services won't release any details about how many unique users they have. surveys online and in the streets won't do anything either as people can simply make up everything. especially when they get a small reward for completing the survey.

ironm@n

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A huge research would be necessary, could still exist high margin of error in the results.

QuestionAuthority

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

i doubt that surveys would help, first of all a lot of people wouldnt participate, besides that they can put in wrong information

That's true, it would not give the correct information on the actual number of bitcoin users in the world, however we can use that as an estimate and that estimate is useful and be part of the information we need to decide whether we trust the future of bitcoin.

Yeah, it's not all surveys suit the fact that exist. But the survey is the most pleasant thing to do so that we can know something is good enough in seeing that information. However, I see that now the growth of the bitcoin increases is very high, and possibly active users bitcoin is 1% of the population there is in this

There is absolutely no way Bitcoin use is 1% of the population. That's simple math.

World population = 7.4 billion
1% of 7.4 billion = 74 million

74,000,000/15,800,000 bitcoins in circulation = 4.68 btc each which isn't possible because the top 18,000 addresses have 11 million btc in them which leaves slightly less than 5 million btc for 73+million users.

The next 120,000 addresses have another 4.2 million btc in them. Now you're left with 600,000 for 73 million people. That's 0.008 btc (less than $5) each for the entire existence of Bitcoin.

If only half of the remaining 73 million users spent their $5 in Bitcoin and repurchased it once every six months Bitcoin would be worth a fortune today instead of only $600.

It's more likely that Bitcoin world users is closer to .0001% of the population.

Fatanut

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I can't think of a way of finding out the actual number of people that are using Bitcoin. Some people can run some statistics and some mathematical stuffs but the result is probably just an approximation. It'll be really inefficient and useless if somebody would run a census just to determine the number of people using bitcoin.

If we're going to use the data that are available like how many bitcoin wallets are active right now, we still can't find the actual number of people using Bitcoin. Anyone can create multiple bitcoin wallets and in every second, bitcoin wallets are being generated.

Capradina

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Quote from: freedomgo on August 25, 2016, 03:52:33 AM

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

i doubt that surveys would help, first of all a lot of people wouldnt participate, besides that they can put in wrong information

That's true, it would not give the correct information on the actual number of bitcoin users in the world, however we can use that as an estimate and that estimate is useful and be part of the information we need to decide whether we trust the future of bitcoin.

Yeah, it's not all surveys suit the fact that exist. But the survey is the most pleasant thing to do so that we can know something is good enough in seeing that information. However, I see that now the growth of the bitcoin increases is very high, and possibly active users bitcoin is 1% of the population there is in this

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Quote from: pearnapple on August 24, 2016, 02:42:45 PM

Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

i doubt that surveys would help, first of all a lot of people wouldnt participate, besides that they can put in wrong information

That's true, it would not give the correct information on the actual number of bitcoin users in the world, however we can use that as an estimate and that estimate is useful and be part of the information we need to decide whether we trust the future of bitcoin.

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

i doubt that surveys would help, first of all a lot of people wouldnt participate, besides that they can put in wrong information

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Quote from: Mastsetad on August 24, 2016, 02:32:27 AM

Even surveys wont be able to do that work of counting the exact number of bitcoin users in the world, because you might wont be able to do the survey every place where bitcoin is earned or used, maybe you can do that as well but there is no guarantee that every bitcoin user would be active to take part in that survey.

If you ask the big players about their BTC holdings, I am afraid that you are not going to get a honest answer. There are mainly two reasons for that. The first one is that Bitcoin holdings are very vulnerable to wallet hacks and robberies. So if you have a large horde of coins, then don't brag about it. Second is that the tax authorities may be screening the posts here.

erickkyut

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there is no way to determine the actual number of people who are using bitcoin. i think every day there are at least hundreds of people who creates a wallet for their bitcoin and there are also some people who quit using bitcoin. there are lots of site which offers bitcoin and any other altcoins.

Doms

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I personally know at least two persons who are using bitcoin, and two more potential users. Of the two who are presently using bitcoin, one of them is not that active and one of them is into gambling. So, that's a total of three on my side of the world. Would be nice if there are more of people I know who would be introduced to the usage of bitcoin.

Mastsetad

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

Even surveys wont be able to do that work of counting the exact number of bitcoin users in the world, because you might wont be able to do the survey every place where bitcoin is earned or used, maybe you can do that as well but there is no guarantee that every bitcoin user would be active to take part in that survey.

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Quote from: 2legit2 on August 23, 2016, 11:01:52 AM

Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

and it will always be impossible, surveys can be faked by people so it wouldnt be a trusted information source in my opinion

Yeah also i think some people are not interested in survey they are just ignore it so we can not still know what is the real number of people who using bitcoins.. even they can provide the total number its all fake..

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Quote from: 2legit2 on August 23, 2016, 11:01:52 AM

Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

and it will always be impossible, surveys can be faked by people so it wouldnt be a trusted information source in my opinion

I think reliable sources is the exchanger, that where they have multiple databases which contain with purses or wallets to everyone. The better we can do a special rate

2legit2

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

and it will always be impossible, surveys can be faked by people so it wouldnt be a trusted information source in my opinion

airezx20

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Quote from: TimmyQue on August 23, 2016, 05:48:52 AM

The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

Yes its impossible to determine the actual no. of users or even an estimate number of users that are using bitcoins all over the world.
Even then survey i think dont provide the actual result because even in survey you can reach each and every individual to know weather they are using bitcoins or not.

TimmyQue

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The best way would probably be surveys, Currently you can't really determine the number of users by number of transactions or number of addresses and since nobody is easily linked to a specific address, it would be a pretty slow process.

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I think no one knows about the actual number of bitcoin users and especially in this time when it is the starting ages of bitcoin adoption, it is very hard to find out that how many people are on bitcoin and how many have joined in this year or month.

Yeah, I'd be surprised if anyone could get a good approximation and would like to know the parameters used as reference.

agreed also that no one would know how many active users of bitcoin cause bitcoin is international currency which is anyone is able to use, and time to time there are new users entering in bitcoin and every day the percentage of users is continuous increasing.

bitcoin is really great currency that people use worldwide and in my opinion you are right that we will never know how much people are actually using it, though it isnt a bad thing

yes and to me as it is one of the best currency of the world and more more people are entering in the world of bitcoin. therefore i think we can say that the bitcoin users are more than any other crypto currency.

entrepmind23

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It is hard to determine the actual number of people but I think in terms of age range then I can guess around the age of 20s and 30s because they are the ones who are well versed with the new technology and witness the change of economy from industrial age to information age in which the transactions and jobs as well were highly dependent on technology. At the start of bitcoin's creation they were there and since they can understand technology than the older ones who will just stick to the old ways, they adopt bitcoin. They are the ones also who are most likely that can afford to buy bitcoin because they have work or has business and still can do something to make it grow with their own effort because they understand the technology and for the older ones, they will most likely just invest in bitcoin and earn from it by having passive income.

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