Topic: How Many Bitcoin Transactions are <$100 (Read 4156 times)
I myself have made plenty of transactions in the last year or two. Not one single one was above the $100 mark. I'd guess most were somewhere in the $30-50 range, either moving sig payments or buying stuff.
I'm curious to know how many bitcoin transactions processed are less than say $100 USD. Can anyone help me out?
This is way too complicated to calculate and it's ever changing. I'd suggest doing a little more research on the subject rather than asking us to do your thinking for you.
The entire issue of the value of the transactions done by Bitcoin is clouded by the transaction used to return change. This makes it almost impossible to know exactly how many Bitcoins are really being transacted.
For example if you have 100 dollars in Bitcoin and send one dollars worth to 100 people as separate transaction it will show as a total of 5,050 dollars having being transacted ($1 plus 99$ change, 1$ plus $98 change and so on).
Another example. The https://blockchain.info/charts site gives around 2-3 million Bitcoins moving each day. They then attempt an algorithm to remove the change transactions and the number of Bitcoins falls by a factor of 10 to 200-300,000 Bitcoins moved per day.
For example if you have 100 dollars in Bitcoin and send one dollars worth to 100 people as separate transaction it will show as a total of 5,050 dollars having being transacted ($1 plus 99$ change, 1$ plus $98 change and so on).
Another example. The https://blockchain.info/charts site gives around 2-3 million Bitcoins moving each day. They then attempt an algorithm to remove the change transactions and the number of Bitcoins falls by a factor of 10 to 200-300,000 Bitcoins moved per day.
Good this post.thanks
Even Transactions with 300$ in them can just be used to pay 1$ and get 299$ as change
I could write a JS iframe scraper for this in about an hour and probably have results in about eight hours unless I had to do long timeouts do to anti-DDOS.
What good is the stat though? I've done a lot of <$100 transactions myself.
What good is the stat though? I've done a lot of <$100 transactions myself.
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Why would you want to track only the transaction <$100 ?
Why would you want to track only the transaction <$100 ?
Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.
I am curious too and am interested in the micro payment part of it. From comments above it would be difficult to determine the amounts.
Not really
#1 take prices from e.g. bitcoinaverage[1]
#2 start with block 1 (or any other you find more interesting, maybe Jan 2011) and itterate until you are at the current (or any other interesting, maybe Jan 2016) block
#3 determine day for blocktime
#4 calculate 100 USD bitcoin value for that day (you can also precalculate a btc value based on the pricelist in #1)
#5 itterate over all TX for the given block and filter for TX that match your criteria
[1] https://api.bitcoinaverage.com/history/USD/per_day_all_time_history.csv
-snip-
Why would you want to track only the transaction <$100 ?
Why would you want to track only the transaction <$100 ?
Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.
I am curious too and am interested in the micro payment part of it. From comments above it would be difficult to determine the amounts.
This info won't answered our question directly.
If we classify everything under $100 as micro payment then I think there won't be many transaction in the bitcoin network left to count.
Even thought blockchain is a public and transparent ledger it is very hard to monitor every transaction to see how many of them are not dust and operate on numbers.
If we classify everything under $100 as micro payment then I think there won't be many transaction in the bitcoin network left to count.
Even thought blockchain is a public and transparent ledger it is very hard to monitor every transaction to see how many of them are not dust and operate on numbers.
-snip-
Why would you want to track only the transaction <$100 ?
Why would you want to track only the transaction <$100 ?
Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.
I believe, it's more than 75% of the total transactions has been made. Because just like me, I rarely(never) send a transaction that has a value more than $100.
There is no way you can make out .There is not even a suitable way of keeping a track of the transactions that happens on daily basis except for the exchanges.You can manually check the blocks and keep track of all the transactions which are <$100,the probability is just random.
P.S Why would you want to track only the transaction <$100 ?
P.S Why would you want to track only the transaction <$100 ?
I'm curious to know how many bitcoin transactions processed are less than say $100 USD. Can anyone help me out?
what is the interest to know that ? you still can crawl the blockchain since a defined date , and you should have your answer dude.. 
I am interested as well.
http://rusty.ozlabs.org/?p=500
... you're looking for data presented in here.
... you're looking for data presented in here.
You can create a small script to filter out transactions based on bitcoin amount. However, the bitcoin/usd price varies from time to time. It is hard to predict how much bitcoin is $100 USD worth on various times.
Random as in you don't really know if someone is paying by using multiple tx? That I agree with. But i'm more concerned about the average transaction by anyone using it.
I'm trying to verify the evidence that Ive read in support of The Lightning Network stating those micro-transactions should be off-chain. I want to know if its true that as many as 70% are <$100.
step 1: know which output is change and which is not. Just pulled one from bc.i
-> https://blockchain.info/tx/ab9e6602eb6e94e23655cd723a4e8f41974414452e3a8043a778afa737835808
Does it pay 0.01 btc or 174.... btc? Most likely 0.01 since its a round number, lets take another one
-> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb
now which is the change and which is the payment
Thanks so much For explain that
Unless you can resolve this, you cant find an answer to your question.
Still, are these two transactions because its a CoinJoin/Mixer TX or is this a single one? OP will have to decide what they want to see as what. Once they have done that its simple to write a few lines script that will answer their question.
Yes.
I only want to say that the original task is not unsolvable.
It can be solved. Not exact, but with some assumptions and defined accuracy.
Usually, we do not need the exact values.
I think that the answer
"There are N%...M% transactions transferring less than $100 and the probability is X"
may be acceptable
...lets take another one
-> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb
now which is the change and which is the payment?
It does not matter. Both outputs are less than $100. (See original question) -> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb
now which is the change and which is the payment?
Still, are these two transactions because its a CoinJoin/Mixer TX or is this a single one? OP will have to decide what they want to see as what. Once they have done that its simple to write a few lines script that will answer their question.
...lets take another one
-> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb
now which is the change and which is the payment?
It does not matter. Both outputs are less than $100. (See original question) -> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb
now which is the change and which is the payment?
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