Bitcoin usage is flat - page 3. | Bitcointalksearch.org

WhatTheGox

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Quote from: Nagle on April 27, 2015, 03:05:29 AM

Bitcoin estimated transaction volume, USD

Bitcoin transaction volume in US dollars is surprisingly flat, and has been for the last year. Occasionally there's a day with a transaction volume spike, but that's frantic trading, not usage. While the number of Bitcoins involved in transactions is up, that's because the price of Bitcoins is going down.

looks like the transaction volume goes flat everytime there isn't price bubbles, overall its still a higher flat vs previous years, maybe that is something to be optimistic of.

Lauda

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Quote from: MicroGuy on April 27, 2015, 06:36:06 AM

Most bitcoin users are speculators and not consumers. Bitcoin is failing miserably on the consumer side.

If someone can explain to Joe down the street why he should jump through verification hoops so he can buy bitcoins on coinbase, and then go make purchases for goods and services at a limited number of places using those freshly exchanged bitcoins, while he could have bought those sames goods and services at those sames places, and at a wider range of places, with the debit card he already has in his wallet, then Bitcoin usage will increase.

Indeed. Most of the people here are just here to cash out for a lot of fiat. Those people deserve being burned while trading. I usually try to buy something using Bitcoin or sometimes gamble for fun. There is still the problem of payment processors where sales are just continuously pushing the price downward.

Quote from: Elwar on April 27, 2015, 05:14:56 AM

Actually, if bitcoin is able to keep up with the dollar this year it is doing better than 99% of world currencies.
When I arrived in Germany last summer the rate was $1.35 / euro. Today it is $1.08.

The dollar is exceeding other currencies because the Fed plans to raise interest rates while other countries are planning on pumping more money into their economies.
But I can see the dollar triggering some very bad economic moves when they do raise the rates later this year.

That is true, however the media won't report this. The media usually reports about Bitcoin when something bad happens. Remember the articles about Bitcoin being the worst investment in a period of time (I can't remember)?

MicroGuy

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Most bitcoin users are speculators and not consumers. Bitcoin is failing miserably on the consumer side.

If someone can explain to Joe down the street why he should jump through verification hoops so he can buy bitcoins on coinbase, and then go make purchases for goods and services at a limited number of places using those freshly exchanged bitcoins, while he could have bought those same goods and services at those same places, and at a wider range of places, with the debit card he already has in his wallet, then Bitcoin usage will increase.

Elwar

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Actually, if bitcoin is able to keep up with the dollar this year it is doing better than 99% of world currencies.

When I arrived in Germany last summer the rate was $1.35 / euro. Today it is $1.08.

The dollar is exceeding other currencies because the Fed plans to raise interest rates while other countries are planning on pumping more money into their economies.

But I can see the dollar triggering some very bad economic moves when they do raise the rates later this year.

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Quote from: Nagle on April 27, 2015, 03:05:29 AM

Bitcoin estimated transaction volume, USD

Bitcoin transaction volume in US dollars is surprisingly flat, and has been for the last year. Occasionally there's a day with a transaction volume spike, but that's frantic trading, not usage. While the number of Bitcoins involved in transactions is up, that's because the price of Bitcoins is going down.

True. So what be done about this? When do you expect this situation to change?

Amph

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because all they want is more fiat apparently, thus they keep converting bitcoin to the rubbish fiat

the number of transactions isn't a good instrument at least for bitcoin, because there are many transaction that are there because of cold storage(many are just securing their coins) or for anon purpose(others are trying to mix it to maintain their privacy)

Nagle

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Bitcoin estimated transaction volume, USD

Bitcoin transaction volume in US dollars is surprisingly flat, and has been for the last year. Occasionally there's a day with a transaction volume spike, but that's frantic trading, not usage. While the number of Bitcoins involved in transactions is up, that's because the price of Bitcoins is going down.

Topic: Bitcoin usage is flat - page 3. (Read 3000 times)