Bitcoin (BTC) Hits 400 Million Transactions - page 2.

ralle14

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Quote from: shield132 on April 18, 2019, 06:21:02 PM

Btw how much transaction was created daily when price was between it's all time highs? It will be interesting to see (where to find it?) because at that moment fees were insane but demand was still huge.

The highest total transaction was almost 500k, this was during second week of December when the price is nearly at its highest.

You can check the chart on blockchain or use this shortcut it will show the daily transaction count in the last 2 years.

On average the amount of transactions we have in the past few days compared to back then is almost the same the only difference is the fees.

sarfield

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Seeing this condition does look better and every exact period will continue to increase. We can see that bitcoin has experienced a good increase and continues to have a positive impact that is indeed worthy of being an effective transaction tool.

shield132

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I think it will be more amazing (for thread title and overally) to open thread for discussion when bitcoin hits 500 million because it can be written as "half".
Btw how much transaction was created daily when price was between it's all time highs? It will be interesting to see (where to find it?) because at that moment fees were insane but demand was still huge.

akamit

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Quote from: Whosdaddy on April 15, 2019, 01:34:03 PM

That’s a good news. Shows that there are lots of people who are into cryptocurrency, but I don’t believe the part that there are 35 million users. There might be up to 35 million wallets, but that doesn’t mean that there up to 35 million. Only one person is likely to own about twenty wallets and above, so how exactly who is making use of that wallet? There’s no possible way for anyone to reveal.

It is correct that bitcoin users have multiple wallets and that 35 million wallets don't count towards as individual wallets.
According to this source, there are only 7.1 million active bitcoin users, but I doubt it is 100% accurate.

If the source is accurate than the possible wallets one individual could have is 4.93, that's per bitcoin users.

samycoin

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Quote from: aad140386 on April 13, 2019, 10:33:12 AM

Despite the crisis in the crypto market, Bitcoin continues to evolve, and this suggests that soon we will witness a new rally cryptocurrency. Perhaps the growth will not be as fast as it was at the end of 2017 - the beginning of 2018, but it will be. In any case, fundamentally, Bitcoin is strong and a deferred interest from investors will not take long to wait. I hope that by the end of the year we will see Bitcoin at $ 10,000 for Bitcoin, and by the end of 2020 Bitcoin will cost 20-25 thousand. The only thing that can negatively affect the development of the blockchain is the global financial crisis that could happen in the next 2 years.

That's true it's look like that even we are in bearish situation people still wants to use crypto or bitcoin. Hopefully it will more continue to move up this year so we can get back what we lose before that the market is very dropped. And I think many of as are looking forward to new rally and hope that will happen.

0t3p0t

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Quote from: Haunebu on April 13, 2019, 10:44:06 AM

Nothing surprising here. Bitcoin has been recording new milestones left and right thanks to the ever growing cryptocurrency community and the steady adoption growth rate. I want to see the expressions on the faces of the haters who proclaimed that 'Bitcoin is dead'.

Majority of the TX records are from the 2017 crazy rally though.

I agree. Everyday transactions will continue to rise as adoption is also increasing. Bitcoin community is still the strongest community here in this cryptocurrency induatry. Here in my country it is now convenient to use Bitcoin as payment because our local exchanges are regulated by the government and merchants accepted Bitcoin payment including bills, goods and other services that is why transactions will skyrocket.

countryfree

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This clearly shows that BTC can improve, and is effectively improving. 2,500 transactions per block isn't a problem, transactions are fast and cheap. The future looks bright!

kryptqnick

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Quote from: angel55 on April 16, 2019, 11:43:52 AM

Quote from: okala on April 14, 2019, 06:23:17 AM

400 millions transactions is a huge one despite of a decentralized network bitcoin is still doing great like this, and the recent stability have busted the confidence of new users to get fully involved. And from the chart it show the market is really growing and the number of wallets users are on the increase.

Compare that with credit card transactions over the same period or even just the last year and the amount for bitcoin will look very very tiny.

Unfortunately, that's true. Bitcoin is growing, the amount of users and transactions is increasing, but it's still baby steps we are talking about. Bitcoin's rate of growth is far from sufficient to compete with the top payment systems. I'll take many decades if things go at the same pace, and by then Bitcoin will only reach what the giants have today. Adoption is happening, activity is going up, but far from being taken seriously as the signs of mass adoption. Bitcoins has 35 million users, while even such a new and not that popular thing as Apple Pay has 250 million.

jjjfff

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Yeah I wonder how these metrics will be measured after lightning takes over a significant amount of transactions. There'll probably need to be a decentralized statistics protocol that lightning network nodes should update every 10 minutes so we know how much BTC was transacted. Interesting to watch where this is going.

hatshepsut93

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Quote from: el kaka22 on April 16, 2019, 11:18:10 AM

I really think we are literally at the start just yet. 400 million is basically nothing compared to what other payment processors are doing and this is our TOTAL not even like daily thing.

By comparison bitcoin has about 5 transactions per second right now whereas visa has around 1600+ that is a 320 times the difference and it will take years for us to cover that difference. Even ethereum has more transactions than bitcoin right now because its cheaper and it has a utility of being used for digital stuff thanks to its smart contracts and dapps and all that.

We need to get bitcoin adopted more and used in much more places, we can buy it and sell it but when it comes to earning and spending options are still very limited, if we can get much more options than we can see that 400 million become 400 billion much more quickly.

A cool thing about Lightning Network is that Bitcoin become more private when people will switch to it, and we'll no longer know how many transactions are processed per day, how many transactions was made, etc. 400 millions is unimpressive, and in general this stat is pretty weak, because Bitcoin blocks are so limited, although not hitting that limit would be quite alarming. It's better to look at mempool and pending tx's throughout some period to judge the network activity.

usorin

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Quote from: cybersofts on April 13, 2019, 09:11:02 AM

The Bitcoin network just reached a new milestone.

More than 400 million transactions have now been processed on the network, according to the data tracker Smartbit.

Source: Smartbit

On average, the Bitcoin network is processing about 350,000 transactions per day at a speed of four transactions per second, with an average cost of $1.70 in fees per transaction. Since its inception in January of 2009, the network has been operating with nearly zero downtime. Estimates place Bitcoin’s uptime at 99.98%.

The number of blockchain wallet users has also reached a new all-time high at 35 million, up 45% since April 2018 when the number of users crossed 24 million.

Reference: https://dailyhodl.com/2019/04/09/bitcoin-btc-hits-400-million-transactions-ethereum-based-crypto-lending-platform-launches-and-tron-founder-reveals-big-donation/

This value is something, i wonder if the number of transactions would be semnificanly higher if the cryptocurrency wouldbe reglementation in the developed countries.

rafi035

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Quote from: beami on April 16, 2019, 09:36:50 PM

Positive information to be able to find crypto users, each exact period continues to increase so that bitcoin deserves to be a global currency. This is the goal of crypto and accepted by many people, good development and having a future.

I hope that bitcoin will become the legal currency in the whole world and other competitors, bitcoin is already widely known and don't hesitate to invest.

Crypto Girl

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Quote from: angel55 on April 16, 2019, 11:43:52 AM

Quote from: okala on April 14, 2019, 06:23:17 AM

400 millions transactions is a huge one despite of a decentralized network bitcoin is still doing great like this, and the recent stability have busted the confidence of new users to get fully involved. And from the chart it show the market is really growing and the number of wallets users are on the increase.

Compare that with credit card transactions over the same period or even just the last year and the amount for bitcoin will look very very tiny.

But at least bitcoin network don't have any recorded downtime unlike with credit cards specifically with the banks, how many times that their system had downtime and glitches? You're funny.

The numbers are proof that it's growing and drawn more attention in the market and yes thanks to LN, btw.

FanEagle

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Quote from: judyrob on April 15, 2019, 10:21:36 PM

Quite a lot of people are involved in crypto, this is one proof that crypto has many users and deserves to be a future coin. Even though the wallet was visible, at least there were many people who knew about bitcoin and its development.

I see this as just the beginning of the future, and many people will come on this forum and say people are not using Bitcoin for payment, so what exactly is this, or is this one a manipulated figure too?

I a glad we are gradually reaching the milestone and with the increase rate of adopters, I am very sure that this will surely double within the next 2 years. This should also make us stronger in the heart about Bitcoin that it will never vanish or collapse in the future, every of this news I see about BTC makes me stronger the more on my investment and whatever investment I have now, I am willing to leave it for the next 10 years.

Naida_BR

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Considered the fact that we were in a bear market and we are in this transition to a more positive climate, this metric is extremely positive for future prospects.
I think that Lightning network has also helped a lot to increase the number of transactions in the blockchain and as people get more acquainted with the technology we can hit a larger number.

annango

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Quote from: judyrob on April 15, 2019, 10:21:36 PM

Quite a lot of people are involved in crypto, this is one proof that crypto has many users and deserves to be a future coin. Even though the wallet was visible, at least there were many people who knew about bitcoin and its development.

Such a good news in terms of crypto! Yep, probably the chart shows us the development of bitcoin. Especially, it paves the way for bitcoin to get dramatically progressive. People have been gradually paying attention on bitcoin than ever before. Actually, compared to 2018, bitcoin has a positive movement in this year which pleases many of us. Bitcoin is becoming more and more powerful and popular in around the world. Hopefully, we will receive more good news of bitcoin in the future.

omonuyak

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This information means blockchain technology is growing and people are understand this technology now than before. People and traders that are using bitcoin price to determine how the cryptocurrencies market is performing should know that the technology and use is what matters and not pricing.

LUCKMCFLY

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Quote from: beami on April 16, 2019, 09:36:50 PM

Positive information to be able to find crypto users, each exact period continues to increase so that bitcoin deserves to be a global currency. This is the goal of crypto and accepted by many people, good development and having a future.

I think that the process of bitcoin's future is already brewing, now at this time many enthusiasts and new speculators, investors of the market are entering to invest, to buy and sell, gradually increasing the market capitalization, and now that we are In an accumulation phase according to Wyckoff's theory, it is expected that for the bullish trend phase the numbers will be much larger.

beami

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Positive information to be able to find crypto users, each exact period continues to increase so that bitcoin deserves to be a global currency. This is the goal of crypto and accepted by many people, good development and having a future.

Crypdon

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Keep it up everyone, the more use it gets the more people believe in it. Bitcoin is going to be the next global currency and will overtake both gold and the US dollar. Better stock up now while the prices are still reasonably.

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