Topic: actual number of people using Bitcoin? - page 58. (Read 60164 times)

Quote from: setupbounds on August 17, 2016, 03:14:14 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.

Is this a school research or assignment? Why would you want to know the number of people using bitcoin? I guess, it would be hard to know the exact number of people using bitcoin as of the moment. Some do have multiple accounts on every bitcoin wallet and other investment sites. The only sure thing is the number of people using it were increasing.

Bitcotalk

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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.

QuestionAuthority

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Quote from: QuestionAuthority on August 17, 2016, 07:53:34 AM

Quote from: bryant.coleman on August 17, 2016, 05:15:40 AM

In my opinion, the number of active users is likely to be less than 100,000. We have around BTC1 million held by small holders (i.e, those with less than BTC100). If we assume an average of BTC10 per person, it comes to 100,000 individuals. I know that no one is going to agree with me, but I am saying this after studying the pattern during the last four years.

If you're talking about heavily active users and not just hodlers, miners or Bitcoin business people then I'd agree with you. 1-200,000 sounds reasonable.

Since there is no way to know about the total number of users, having to know of the possible active users would sound more reasonable. Wouldn't bitcoin business people (I'm assuming exchanger owners?) be considered heavily active users? That kind of thing might be again leading to misinterpreted data.

The reason I would exclude business addresses is because they aren't "using" Bitcoin. They cater to users and make money off of users. Users to me means people that routinely spend Bitcoin like they would routinely spend fiat.

Think of it this way. A bank, say Chase Bank, doesn't support the dollar economy. They make money off of the people that use dollars. If they are located in Japan then they make money from people in yen, not dollars. If Chase Bank disappeared tomorrow that would have no effect on how many loaves of bread people need to buy. They would just need to find a new bank to hold their money.

setupbounds

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Quote from: QuestionAuthority on August 17, 2016, 07:53:34 AM

Quote from: bryant.coleman on August 17, 2016, 05:15:40 AM

In my opinion, the number of active users is likely to be less than 100,000. We have around BTC1 million held by small holders (i.e, those with less than BTC100). If we assume an average of BTC10 per person, it comes to 100,000 individuals. I know that no one is going to agree with me, but I am saying this after studying the pattern during the last four years.

If you're talking about heavily active users and not just hodlers, miners or Bitcoin business people then I'd agree with you. 1-200,000 sounds reasonable.

Since there is no way to know about the total number of users, having to know of the possible active users would sound more reasonable. Wouldn't bitcoin business people (I'm assuming exchanger owners?) be considered heavily active users? That kind of thing might be again leading to misinterpreted data.

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Quote from: btccashacc on August 14, 2016, 09:19:46 AM

Quote from: bostiog1 on August 14, 2016, 05:43:54 AM

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.

personally i dont care how much people are using bitcoin .on freebitco.in are registred over 2 million peoples sk they are using bitcoin. i think over 5 million peoples use bitcoin

well you can't estimate the number of bitcoin user by look on freebitcoin's members since everyone can create many account out there as much as you can, i think the only way is just by from an exchanger, in my country there are more than 165k Users are already registered on our local exchange, and this is exact number since we provide our real identity for verification purpose, let's count for each country

That's still not accurate way because those reason :
1. People could have use multiple exchange.
2. People could use multiple account for various reason such as troll, scam or took promotion.
3. Not every bitcoiner use exchange
4. Not every exchange told numbers of their users or give accurate number.

yes even one person can have dozens maybe hundreds bitcoin address, it will be hard if we want to estimate how many bitcoin users simply by counting the number of bitcoin address is already in use.

you are right, unfortunately it is impossible to predict the bitcoin users number and in my opinion it will always be impossible

davis196

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Quote from: electronicash on May 24, 2016, 11:24:27 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.

Maybe the big btc online wallet service owners can give some information.

They can provide the number or newly created online wallet accounts.

I can`t figure out any other way.

Daneric

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You can assume the number if users in bitcointalk.org, its not accurate but you get to have the number to assume. Most users who are into crypto currency are also into bitcoin no matter how loyal they are to a coin. What is the purpose of this by the way?

There's really no way to answer that. There's no definitive metric that works.
•You can't go by wallet software downloads. For example, I use at least five different ones. And I've downloaded them all several times due to phone upgrades, writing reviews, etc.
•You can't go by addresses because the smart Bitcoiners use a different address for every transaction.
•You can't go by accounts at places like Coinbase or Circle because there's no signup to may wallet software.
•You can't go by public poll because nobody knows you use Bitcoin unless you tell them you use Bitcoin.

So, really, you can only guess. And even a guess is bound to be wrong.

Bitcoinpro

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Somewhere in 2013 we got swamped and thats when the price exploded!

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Quote from: btccashacc on August 14, 2016, 09:19:46 AM

Quote from: bostiog1 on August 14, 2016, 05:43:54 AM

Quote from: bryant.coleman on August 17, 2016, 05:15:40 AM

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.

personally i dont care how much people are using bitcoin .on freebitco.in are registred over 2 million peoples sk they are using bitcoin. i think over 5 million peoples use bitcoin

well you can't estimate the number of bitcoin user by look on freebitcoin's members since everyone can create many account out there as much as you can, i think the only way is just by from an exchanger, in my country there are more than 165k Users are already registered on our local exchange, and this is exact number since we provide our real identity for verification purpose, let's count for each country

That's still not accurate way because those reason :
1. People could have use multiple exchange.
2. People could use multiple account for various reason such as troll, scam or took promotion.
3. Not every bitcoiner use exchange
4. Not every exchange told numbers of their users or give accurate number.

yes even one person can have dozens maybe hundreds bitcoin address, it will be hard if we want to estimate how many bitcoin users simply by counting the number of bitcoin address is already in use.

thats true, it is even impossible to predict how many people are using bitcoins, to be honest i have only 1 bitcoin address but there are wallets that accept bitcoins to a different address all the time

Noctis Connor

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More than 25 million addresses have been referenced in those 31 million transactions. The total number of addresses, of course, gives an upper limit for the number of possible bitcoin users. Naturally, not every address ever referenced is still in use. In fact, it turns out that less than 10 percent actually have any bitcoins in – fewer than 2.5 million.

QuestionAuthority

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You lead and I'll watch you walk away.

In my opinion, the number of active users is likely to be less than 100,000. We have around BTC1 million held by small holders (i.e, those with less than BTC100). If we assume an average of BTC10 per person, it comes to 100,000 individuals. I know that no one is going to agree with me, but I am saying this after studying the pattern during the last four years.

If you're talking about heavily active users and not just hodlers, miners or Bitcoin business people then I'd agree with you. 1-200,000 sounds reasonable.

bryant.coleman

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In my opinion, the number of active users is likely to be less than 100,000. We have around BTC1 million held by small holders (i.e, those with less than BTC100). If we assume an average of BTC10 per person, it comes to 100,000 individuals. I know that no one is going to agree with me, but I am saying this after studying the pattern during the last four years.

lady Royal

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Quote from: bitsoldiers on August 17, 2016, 05:00:06 AM

though they are no number of people using bitcoin, all can take up btc....but those who value and its worth..are true people of btc...

First of all do not post one Comment more then once and seriously i am unable to understand your above reply.

@OP No body can tell the actual number of people using bitcoins because mostly people are totally anonymous, If you count the users with respect to bitcoin addresses then it will be totally unfair as mostly users uses more then 1 address like i use 2-3 addresses which are associated with one wallet.

bitsoldiers

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though they are no number of people using bitcoin, all can take up btc....but those who value and its worth..are true people of btc...

bitsoldiers

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though they are no number of people using bitcoin, all can take up btc....but those who value and its worth..are true people of btc...

needyou

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Bitcoin customers are not considerable as a graph or depend since there are so many customers and one individual keeps 2 or more records so this cannot be a precise information organizing by consideration.

freedomgo

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Quote from: Mastsetad on August 17, 2016, 02:20:24 AM

Quote from: btccashacc on August 14, 2016, 09:19:46 AM

Quote from: bostiog1 on August 14, 2016, 05:43:54 AM

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.

personally i dont care how much people are using bitcoin .on freebitco.in are registred over 2 million peoples sk they are using bitcoin. i think over 5 million peoples use bitcoin

well you can't estimate the number of bitcoin user by look on freebitcoin's members since everyone can create many account out there as much as you can, i think the only way is just by from an exchanger, in my country there are more than 165k Users are already registered on our local exchange, and this is exact number since we provide our real identity for verification purpose, let's count for each country

That's still not accurate way because those reason :
1. People could have use multiple exchange.
2. People could use multiple account for various reason such as troll, scam or took promotion.
3. Not every bitcoiner use exchange
4. Not every exchange told numbers of their users or give accurate number.

yes even one person can have dozens maybe hundreds bitcoin address, it will be hard if we want to estimate how many bitcoin users simply by counting the number of bitcoin address is already in use.

That is right, not every bitcoin user has just one wallet for keeping their coins but they always have multiple so that they can split their earnings for saving them from being lost for any reason, so no one can say how many users bitcoin community has just by counting the addresses.

And basing only on the bitcoin address, you estimate may be irrelevant, the price is the only gauge to determine if we are growing or not but as to the total number of users, it would be impossible to determine as of the moment as we are all anonymous here.

gandame

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If the world's countless uses bitcoin . At the time many of the people who enjoy using it for easy transaction . Especially those who invest in gambling or betting game the bitcoin usually they use it for trasaction. And I know it will increase more user of bitcoin. And to broaden it enjoyed by large companies.

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Quote from: btccashacc on August 14, 2016, 09:19:46 AM

Quote from: bostiog1 on August 14, 2016, 05:43:54 AM