Adoption Has Reached a New All Time High

pitham1

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Quote from: zimmah on October 03, 2014, 12:46:58 AM

Quote from: rohnearner on October 02, 2014, 01:21:29 PM

Quote from: trader001 on October 02, 2014, 04:25:41 AM

Trend is still going down and will remain this way until some good news come a long.

I don't understand what good news you are looking for..? Read stories of last few months and you'll realize there aren't any bad news except the few that took place earlier this year and they made such an impact that the market hasn't recovered from that yet, and keeps going down and down..! but this will end eventually might take some time though. ..!

I don't think the bad news from early 2014 is why we are in a downtrend still. I think it's because Adoption is not yet enough to match the sell pressure from all the new merchants and the miners. We are getting close, but not quite there yet. Maybe in a few months.

A few more months of depressed prices and all the speculators would have moved on.

zimmah

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Quote from: rohnearner on October 02, 2014, 01:21:29 PM

Quote from: trader001 on October 02, 2014, 04:25:41 AM

Trend is still going down and will remain this way until some good news come a long.

I don't understand what good news you are looking for..? Read stories of last few months and you'll realize there aren't any bad news except the few that took place earlier this year and they made such an impact that the market hasn't recovered from that yet, and keeps going down and down..! but this will end eventually might take some time though. ..!

I don't think the bad news from early 2014 is why we are in a downtrend still. I think it's because Adoption is not yet enough to match the sell pressure from all the new merchants and the miners. We are getting close, but not quite there yet. Maybe in a few months.

bassclef

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Quote from: hyphymikey on October 02, 2014, 12:14:56 PM

Quote from: yayayo on October 02, 2014, 08:29:16 AM

Quote from: zeroday on October 02, 2014, 07:51:23 AM

Is it adoption, or just mixing services become more popular ?

Is there any indication that mixing services grow faster than other Bitcoin uses? I don't think so.

The news flow suggests that more and more businesses are accepting bitcoin. So it's reasonable to assume that Bitcoin is becoming more popular in general.

I agree with OP that price versus Bitcoin use shows a bullish divergence.

ya.ya.yo!

What if the person who supposedly stole all the gox coins are mixing, causing the adoption rate to climb, and then selling on the exchanges, causing the price to go down?

I think the Gox addresses are known, or at least many of them. Should coins move out of those wallets, we would probably hear about it.

jjacob

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Activity: 1554

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★Nitrogensports.eu★

Quote from: RodeoX on October 02, 2014, 01:02:00 PM

IMO, this is a metric worth measuring. More important than price I think.

I guess this metric would be easier to manipulate than the price, once it becomes widely tracked.

isov

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We have seen so many bullish things lately but price has only went down so it's hard to believe things would change. I keep hoping and holding anyway.

Raystonn

sr. member

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It could be. But this metric is for active addresses every day, not how many addresses exist in total.

thejaytiesto

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It's not very revealing, could be whales creating a lot of addresses to distribute their wealth better for all we know.

wobber

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It's inverted! Good news just pushed the price lower, let's hope for bad news, ie:

- US and EU banning bitcoin as of October 15th
- Overstock, Paypal, Alibaba, Dell, Google, Yahoo, Apple declaring that bitcoin will never be used by them (simultaneous press releases on October 16th)
- Mark Karpeles being acquitted
- SilkRoad operators acquitted but the bitcoins being hold by USMS and wallets deleted.

rohnearner

sr. member

Activity: 350

Merit: 252

REAL-EYES || REAL-IZE || REAL-LIES||

Quote from: trader001 on October 02, 2014, 04:25:41 AM

Trend is still going down and will remain this way until some good news come a long.

I don't understand what good news you are looking for..? Read stories of last few months and you'll realize there aren't any bad news except the few that took place earlier this year and they made such an impact that the market hasn't recovered from that yet, and keeps going down and down..! but this will end eventually might take some time though. ..!

RodeoX

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Activity: 3066

Merit: 1147

The revolution will be monetized!

IMO, this is a metric worth measuring. More important than price I think.

mmortal03

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Activity: 1762

Merit: 1011

Quote from: Raystonn on October 01, 2014, 08:15:50 PM

The 7-day average of "Number of Unique Bitcoin Addresses Used" per day has reached a new all time high.
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=

Bullish divergence.

It's now slightly below it, and doesn't show the high. The latest transactions must have dropped the average a bit.

jaredboice

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Activity: 560

Merit: 500

Quote from: hyphymikey on October 02, 2014, 12:14:56 PM

Quote from: yayayo on October 02, 2014, 08:29:16 AM

Quote from: zeroday on October 02, 2014, 07:51:23 AM

Is it adoption, or just mixing services become more popular ?

Is there any indication that mixing services grow faster than other Bitcoin uses? I don't think so.

The news flow suggests that more and more businesses are accepting bitcoin. So it's reasonable to assume that Bitcoin is becoming more popular in general.

I agree with OP that price versus Bitcoin use shows a bullish divergence.

ya.ya.yo!

What if the person who supposedly stole all the gox coins are mixing, causing the adoption rate to climb, and then selling on the exchanges, causing the price to go down?

That could be true. But google searches for "how to buy bitcoin" is still at an all time high. This has nothing to do with mixing services. This is evidence of real demand

hyphymikey

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Activity: 784

Merit: 1000

Quote from: yayayo on October 02, 2014, 08:29:16 AM

Quote from: zeroday on October 02, 2014, 07:51:23 AM

Is it adoption, or just mixing services become more popular ?

Is there any indication that mixing services grow faster than other Bitcoin uses? I don't think so.

The news flow suggests that more and more businesses are accepting bitcoin. So it's reasonable to assume that Bitcoin is becoming more popular in general.

I agree with OP that price versus Bitcoin use shows a bullish divergence.

ya.ya.yo!

What if the person who supposedly stole all the gox coins are mixing, causing the adoption rate to climb, and then selling on the exchanges, causing the price to go down?

fa

full member

Activity: 140

Merit: 100

Quote from: Raystonn on October 01, 2014, 08:15:50 PM

The 7-day average of "Number of Unique Bitcoin Addresses Used" per day has reached a new all time high.
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=

Bullish divergence.

That's very good news, thanks. Hopefully we'll see price ATH in a few months. Grin

yayayo

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Activity: 1806

Merit: 1024

Quote from: zeroday on October 02, 2014, 07:51:23 AM

Is it adoption, or just mixing services become more popular ?

Is there any indication that mixing services grow faster than other Bitcoin uses? I don't think so.

The news flow suggests that more and more businesses are accepting bitcoin. So it's reasonable to assume that Bitcoin is becoming more popular in general.

I agree with OP that price versus Bitcoin use shows a bullish divergence.

ya.ya.yo!

Dafar

legendary

Activity: 1330

Merit: 1000

dafar consulting

Sorry.... I only care about ATH in regards to price

zeroday

donator

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Is it adoption, or just mixing services become more popular ?

s.mouse

member

Activity: 71

Merit: 10

Interesting, but someone told me recently that roughly the same amount of btc is being traded every day as was a year ago. Is this true?

sbrzol

hero member

Activity: 569

Merit: 500

so bullish that every other good "news" (circle = everybody can and will buy btc easily) that we can cross todays lowest price soon

please tell these good "news" charts to the buyers too Wink

Zarathustra

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Activity: 1162

Merit: 1004

Quote from: Raystonn on October 01, 2014, 08:15:50 PM

The 7-day average of "Number of Unique Bitcoin Addresses Used" per day has reached a new all time high.
https://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=&show_header=true&daysAverageString=7&scale=0&address=

Bullish divergence.

Monthly average even better:

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=30&show_header=true&scale=0&address=

And quarterly average even more better Wink

:

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=90&show_header=true&scale=0&address=

And the yearly average:

https://blockchain.info/charts/n-unique-addresses?timespan=all&showDataPoints=false&daysAverageString=360&show_header=true&scale=0&address=

Topic: Adoption Has Reached a New All Time High (Read 2449 times)