The problem with big news of big corps adopting btc, is they are not promoting it on their sites, go to dell, overstock and whatever, no real btc push on front doors.
Also if you are on those sites, the odds of someone having a btc wallet is tiny, very tiny.
We estimate 2M range of user wallets right now, that's a tiny fraction of people on earth, so merchants do some work in programming to take the coin then they see no one using it.
Then the hoarding issue is a problem too, many wallets buy btc and don't spend it.
The transactions of btc have not seen major growth in units of btc being moved in over a year, in fact you saw many huge spurts of btc movement over a year ago.
Now it's the same old 50K to 80K btc transactions every day.
Compare that to the 800M visa/mc/amex trans every day
So 80K usual trans in btc any given day and that level hasn't really moved much while values and numbers of wallets have jumped.
80K to 800M btc trans versus cc trans
So if btc moves towards 800M or 10% of the GWP it would have to move
800K trans
8M trans
80M trans
800M trans
That would indicate broadbase user growth and a growing btc economy
Yet we have the same old 80K of transaction for over a year
Right now 80K transactions has created a 1K/500 USD value bubble
80K trans 1K/500
800K trans 10k/5K
8M trans 100K/50K
80M trans 1M/500K
800M trans 10M/5M
So the transaction curve matched to current values is wrong, since 8B trans would put btc at 100M/50M value and that would make the bitcoin economy 1.2 Quadtrillion and not 85 Trillion which is the 100% value of the GWP
That's why user base ratios was used in the
www.BitcoinAlgorithm.com to find an algorithm to match the historic support levels and peaks of the value curve of btc.
Now if you put these numbers on btc value and growth it works
70K users or my wallets on blockchain.info you saw 100 peak and 50 support
So now let's grow that number
70K wallets (not trans) 100/50
700K wallets 1K/500 (the end of 2013 you had 700K my wallets as reported by blockchain.info)
7M 10k/5K the next bubble peak and valley or floor support of 5K
70M 100K/50K
700M 1M/500K (10% of the world pop and 10% of the GWP)
7B 10M/5M (100% global currency the world uses bitcoin)
So even with mass government control in many major regions, at 700M users or 10% of the population of the world you have a 1M peak and 500K value support to btc
Some of the info about how government regulations will not stop bitcoin is at
www.BitcoinManifesto.orgThe numbers above are from
www.BitcoinAlgorithm.comToday's moves were the usual short term moves influenced by 1 or many factors, but the move had nothing to do with inherent value of btc as a valid currency based upon it's growing user base support of wallets.
So right now we have some looking at transactions and seeing no real growth in the number of transactions and maybe dumping btc causing minor drops
Good the lower it goes the better the postion to get in for the next bubble which not ride on news of huge transactions growth, it will ride on the news that wallet growth has surpassed 7M users or .1% of the worlds population.
.1% of the GWP is 80B ten times todays value of btc
See the fundamentals
LOL