Topic: Best way to measure Bitcoin popularity? (Read 3020 times)
A combination of many things - mainstream news, people that you know talking about it, price rise. There were significant gains in press in 2015.
I would say the best way to measure Bitcoin popularity is by researching it. Just do your research to find it out.
What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses are good measurements but in my opinion those are not really good.
Yeah. Those are not really a good indicator of the popularity of Bitcoin. It could just be the same people making transactions over and over again. Or it could be people with multiple addresses. There is really no good indicator of how popular Bitcoin is. All I can say is that it is becoming more popular as you see more and more places starting to accept Bitcoin.
I think Media coverage and the geographical distribution of bitcoin will be better measure of its popularity along with transaction volume.
More or less the same way you measure the popularity of other things: by how much people are talking about it and how much and where it is being used.
Number of transactions always will be misleading with off chain transactions
There are very little offchain transactions and the onchain ones would give you a rough estimate of the amount of Bitcoin transacted. Many shop uses POS such as Bitpay and would require onchain payments. I would use the number of unique address used as a rough estimate. Number of transactions always will be misleading with off chain transactions
More or less the same way you measure the popularity of other things: by how much people are talking about it and how much and where it is being used.
Number of transactions always will be misleading with off chain transactions
Number of transactions always will be misleading with off chain transactions
What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses are good measurements but in my opinion those are not really good.
list of retailers/businesses using bitcoin..
bitpay/coinbase quotes that over 100,000 businesses are accepting bitcoin..
i dont think that user counts or address counts mean much.
after all 1 person can have 20+ addresses on average.
after all signature campains or adsense could send out microtransactions 1000 times a day to a single person..
thus addresses and tx's do not reveal anything useful, unless you can prove the context of each addresss/ tx used,
and that is why i only concentrate on how useful bitcoin is. by looking at how many businesses people can use..
my ultimate popularity neon flashing light moment. is when grocery stores accepting bitcoin have enough coverage that anyone in any town can buy their toilet roll and baked beans with bitcoin.
Use it wherever you can.
Request to use it at every place you spend money. Maybe ask them if they accept Bitcoin yet every time you make a purchase.
If a place will not accept it, then find a replacement for your purchases that do accept it, then notify the other company exactly why you are choosing the Bitcoin-accepting company.
The fastest way to get someone to change their minds and adopt new technology is by voting with your feet and money.
Request to use it at every place you spend money. Maybe ask them if they accept Bitcoin yet every time you make a purchase.
If a place will not accept it, then find a replacement for your purchases that do accept it, then notify the other company exactly why you are choosing the Bitcoin-accepting company.
The fastest way to get someone to change their minds and adopt new technology is by voting with your feet and money.
What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses are good measurements but in my opinion those are not really good.
As for me, I think that the best way to measure the popularity of bitcoin is its price and the way this its quality move in time. If the price remain stable that mean that the popularity is the same. If the price go high slowly and remain in amounts bigger than the previous ones that is the clear fact that the popularity is increased (slowly but increased). Maybe can be even that the existing users want more bitcoin. And in this case are not increase. But normally more popularity mean more need for bitcoin. The newbies want to own some bitcoin. So we will have increase of demand and the price will go high. If the price go high and they return at the same point this is a sign of speculation but maybe even a little increase of popularity. Because we can be in the situation when some buy and some sell. The increase may be a sign of increase of popularity. The speculation can bring the price in the same level. Anyhow the situations which can be created are to many. For sure can be told only that the increase and the not return at the same previous price is a clear sign of the increase of popularity.
The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?
Cos when everyone use Bitcoin the price will increase, right?
Pretty much this...
The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?
Cos when everyone use Bitcoin the price will increase, right?
Yes right point.
When bitcoin hit around $1200 price levels, I did read about bitcoin in yahoo news sections. I heard more people are willing to get paid in bitcoin like that. It means high price will being in more people into bitcoin ecosystem same way more people using bitcoin will make bitcoin more strong and valuable.
The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?
Cos when everyone use Bitcoin the price will increase, right?
how about the turnover and number of transactions ?
Probably by opening a survey on ebay, or amazon to see how many people actually have and use bitcoin.
as of not we can not measure the popularity of bitcoin
until its not get accepted by goverment and all country..
but i will rate bitcoin popularity up 100 for all the people in the world..
i cant say not even 1 percent is the popularity of bitcoin..
in billion people all over the world the people only know about bitcoin..
my higher guess is only over a 1 million..
until its not get accepted by goverment and all country..
but i will rate bitcoin popularity up 100 for all the people in the world..
i cant say not even 1 percent is the popularity of bitcoin..
in billion people all over the world the people only know about bitcoin..
my higher guess is only over a 1 million..
to measure the level of popularity I think that their use in any sector, preferably in sectors close to the general public or in the micro business sector
We cannot estimate the number of users from the number of active addresses, transaction volume or price because everyday coins are being sent from one address to another own by the same person and price is distorted by speculation.
The best measure of bitcoin popularity is the number of merchants accepting bitcoin. I do not expect bitcoin to be widely accepted in brick and mortar stores yet, but when you see more and more online shops accept bitcoin, there is no doubt bitcoin gaining popularity.
The best measure of bitcoin popularity is the number of merchants accepting bitcoin. I do not expect bitcoin to be widely accepted in brick and mortar stores yet, but when you see more and more online shops accept bitcoin, there is no doubt bitcoin gaining popularity.
People are using it for online transactions that is good, but that brings us to the same point that others who are not involved in online shopping are not aware about the bitcoins, if a common man is aware about the bitcoins then I think it is popular.
Almost world people have accessed internet, and I'm sure most of them have ever bought something through online shop atleast once or twice. And bitcoin banning by government force people to use it only in internet. But it cant affect the popularity of bitcoin if they really do many transaction with that. So we dont need to make any real shop that accept bitcoin to prove the popularity of bitcoin in the country. 
What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses are good measurements but in my opinion those are not really good.
Hmmm well the latest news I saw is the Bitcoin is now a global currency in Australia that can explain how much bitcoin is popular their just look at cointelegraph and the news and you will see reasons !
Xing Ming.
I think the best way to measure popularity is by the price, but also the number of transactions happening every day.
The price could easily be manipulated thus, it is not a good measurement. Lets say there is a big investor who invests $100 mln into Bitcoin. The would cause a price explosion. But it would say nothing about the popularity.
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