Missing 98% - page 2. | Bitcointalksearch.org

Possum577

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Quote from: forlackofabettername on August 17, 2015, 09:24:14 PM

Quote from: Wary on August 17, 2015, 08:46:29 PM

Recent report on bitcoin drug trade -about 400K$ a day
Bit Pay - about the same 400K$ a day
Blockchain info's estimated transaction volume 50-70M$ a day.

So, about 1% of bitcoin transactions - white market.
Another 1% - black market.
What are the remaining 98%? Gambling? Pron? Mixing? Transfer to&from exchanges? Spam?

I'd think altcoin trading can make a couple of million on a good day ... so there you get another 2% to 20% of volume

And what facts do you have for your assumption?

2-20% might as well be a wild ass guess (or a super wild ass guess for those if you that love stupid acronyms).

Possum577

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Quote from: gentlemand on August 17, 2015, 09:22:00 PM

Quote from: Jorge320 on August 17, 2015, 09:12:52 PM

How could those stats ever be verified? Report was probably issued from a think tank who gets its funding from Wall Street banks...

It's the blockchain. You can count the amount of coins moving easily enough. Just add up the value.

I assume the vast majority of it is just coins moving around between wallets, exchanges and gambling sites.

I think he means how did the OP validate all if his percentages? The purpose if each transaction is not tracked on the blockchain (of course).

forlackofabettername

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Quote from: Wary on August 17, 2015, 08:46:29 PM

Recent report on bitcoin drug trade -about 400K$ a day
Bit Pay - about the same 400K$ a day
Blockchain info's estimated transaction volume 50-70M$ a day.

So, about 1% of bitcoin transactions - white market.
Another 1% - black market.
What are the remaining 98%? Gambling? Pron? Mixing? Transfer to&from exchanges? Spam?

I'd think altcoin trading can make a couple of million on a good day ... so there you get another 2% to 20% of volume.

Today LTC and ETH alone made 5 mln vol. Probably 2 to 4 mln was on the btc markets.

Most people i know make 99% traffic coins to and from exchanges.

gentlemand

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Welt Am Draht

Quote from: Jorge320 on August 17, 2015, 09:12:52 PM

How could those stats ever be verified? Report was probably issued from a think tank who gets its funding from Wall Street banks...

It's the blockchain. You can count the amount of coins moving easily enough. Just add up the value.

I assume the vast majority of it is just coins moving around between wallets, exchanges and gambling sites.

Possum577

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Merit: 250

Loose lips sink sigs!

How are you arriving at 1% white market?

Can you share the math, please show your work. Grin

Jorge320

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How could those stats ever be verified? Report was probably issued from a think tank who gets its funding from Wall Street banks...

lottery248

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beware of your keys.

idk.
likely they are come from variety, especially gambling on chain.
or i know the bitcoin mixing matter, because bitcoin mixing requires large amount of transactions.
or i can see the spamming transaction, i saw it everywhere.

Wary

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Who's there?

Recent report on bitcoin drug trade -about 400K$ a day
Bit Pay - about the same 400K$ a day
Blockchain info's estimated transaction volume 50-70M$ a day.

So, about 1% of bitcoin transactions - white market.
Another 1% - black market.
What are the remaining 98%? Gambling? Pron? Mixing? Transfer to&from exchanges? Spam?

EDIT:
so far, the results of the brain-storm:

0.4M drugs
0.4M bitpay
0.9M new coins (thanks btccashacc)
2M altcoin exchange (thanks forlackofabettername, data from coinmarketcap.com/)
27M mixers (thanks lottery248) [or just HD wallets, according to Kazimir?]
?? bitcoin exchanges (deposits&withdrawals)
?? OTC trading (localbitcoin etc)
?? adult sites
?? spam
?? gambling (most of it is offchain, isnt's it?)
?? moving between wallets (thanks gentlemand)
?? change (thanks jl2012) - may be the most of it!
??
----------------
60M Total

Would be nice to see it (or some better estimates) on a pie-chart.

Topic: Missing 98% - page 2. (Read 1323 times)