interesting plots thanks.
However I would recommend you pay more attention to TX per unit time than cumulative TX over all time.
Topic: number of transactions per day higher than ever (Read 2053 times)
This chart shows the growth of the addresses and transactions.
As we see, the growth of the addresses is quite stable,
the transaction is a bit more sluggish,
but has always remained around 30% throughout 2014.
Remember that the y-axis scale is logarithmic !
In this chart I overlay addresses and transactions with prices and some quadratic regressions
quadratic regression of 2014 has strong negative slope .... against the trend
to all other phenomena that are growing significantly
Some times, the price follows volume. Number of transactions is an indication of volume.
True, but more transactions mean more people use Bitcoin.
More uses could mean more users (more wallets too) more users means less Bitcoin to go around and more money in the system which could lead to a higher price.
If the amount of transactions keep rising the price will follow eventually, because people would at some point run out of Bitcoin to spent otherwise.
Alexa does show a lot though, the bounce rate is extremely high. (Could be a sign of a poor website that doesn't keep interest).
A lot of men compared to women. Which means we should get more women interested in Bitcoin. (Which I know is hard but not impossible). But women have a large control over the finance in many relationships. This should not be underestimated.
I'm surprised by the low education of the visitors though, I would expect more highly educated people. The first time I ever heard about Bitcoin was at my university in fact. And outside of that I never heard of it except a few minor mentions in newspapers around 2013.
More uses could mean more users (more wallets too) more users means less Bitcoin to go around and more money in the system which could lead to a higher price.
If the amount of transactions keep rising the price will follow eventually, because people would at some point run out of Bitcoin to spent otherwise.
Alexa does show a lot though, the bounce rate is extremely high. (Could be a sign of a poor website that doesn't keep interest).
A lot of men compared to women. Which means we should get more women interested in Bitcoin. (Which I know is hard but not impossible). But women have a large control over the finance in many relationships. This should not be underestimated.
I'm surprised by the low education of the visitors though, I would expect more highly educated people. The first time I ever heard about Bitcoin was at my university in fact. And outside of that I never heard of it except a few minor mentions in newspapers around 2013.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
It is hard for investors to fund their accounts for bitcoin trading due to banks that are terminating them for being bitcoin related,
and the number of transactions was never directly linked to bitcoin price.
Take a look at http://www.alexa.com/siteinfo/bitcoin.org , it will show you decline of interest of new people in bitcoin.
cheers
It's not until the number of transactions goes way beyond 1MB that we will say "oh fuck, we should have forked long ago".
Price has to be stable for a long time for bitcoin to regain trust and people don't sell them immediately when they get it. I hope it will hold for around $200 for at least six months. Less speculation the better for healthy growth in value.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
I dont see why people is oppposing to the 20MB fork, we are going to hit 1mb limit again soon. the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
I don't see how the price is related with anyway to the number of transaction to be honest , most of the transactions are probably made by exchangers websites or Gambling such PrimeDice , LuckyBit , etc ...
The price depends depends on Supply and demand , there is only one thing for sure is the price will rise on the Late 2016 while Halving block reward happens .. still not sure rise to where if the price will be 50$ by then .. then the price will rise to 150$ maybe ... it all depends .
~ Madness
it means more people are using it, which means it has more utility, and thus it's a good thing.
if no one uses bitcoin, it's not worth much at all.
if no one uses bitcoin, it's not worth much at all.
Most of the people use bitcoin for gambling
So it means in a way that more people might be gambling
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
Bitcoin is perplexing to me. People are clearly using bitcoin and many merchants are getting involved but the price only declines. I don't even understand why people sell their coins at such a low value. Surely if people refused to sell them for such a price it would keep them at a decent value.
it means more people are using it, which means it has more utility, and thus it's a good thing.
if no one uses bitcoin, it's not worth much at all.
if no one uses bitcoin, it's not worth much at all.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
more sellers than buyers...that's really the simple reason. We can all speculate on why people are selling more than buying, such as recessionary times require people to cash in their savings, or perhaps other investments are more attractive, or perhaps there's been huge liquidation that hasn't been made public.
Transaction volume is good for the "survive-ability" of Bitcoin. The more transactions that happen, the more people are using it...and a successful currency needs people to use it!
also the miner, which dump every day, when the block will halved, the buyers pressure will become stronger for sure, indirectly at least
The recent times are the hard times for people. Recession forces people to cash out their savings and search for a possible investment that may save them from it. And correct, the miners dump every day to cover up for expenses, which in turn causes the price to decline.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
Price is dependent on many many things, not only unique addresses.
Though, I think the price will rise soon, be patient.
I don't see how is price dependent on the number of transactions ?
Can't people just make a lot of dust transactions to fake the data ?
Yes they can, but they have to pay transaction costs to do so effectively
Transaction fees are negligible for big exchanges or miners.
Wait for the next halving to come into view, and we may find px will respond positively
Expect current levels to persist for some time yet
Expect current levels to persist for some time yet
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
more sellers than buyers...that's really the simple reason. We can all speculate on why people are selling more than buying, such as recessionary times require people to cash in their savings, or perhaps other investments are more attractive, or perhaps there's been huge liquidation that hasn't been made public.
Transaction volume is good for the "survive-ability" of Bitcoin. The more transactions that happen, the more people are using it...and a successful currency needs people to use it!
Logically speaking if there are more active users than ever, who keeps selling cheaper all the time?
The interest is there, more people ARE coming in, but for some reason some people are cutting their own profits by selling too cheap.
The only ones who can sell are people who have bought before. And the only ones who can sell for a profit are people who have hold for a year or more, since the price has been declining for over a year.
At some point those people should run out of coins to sell, and people are still buying.
Just how do the sellers outnumber the buyers?
I know Bitcoin isn't exactly mainstream yet but it just feels like the things are not adding up, and we are much lower than we should be.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
thats false. they make good profits (the good ones).
Well obviously some are making profit, but the difficulty is stagnating, which means most miners have trouble keeping up, and are shutting down their miners. This is a sign the price is too low to support the current difficulty with the current mining technology.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
Price is dependent on many many things, not only unique addresses.
Though, I think the price will rise soon, be patient.
I don't see how is price dependent on the number of transactions ?
Can't people just make a lot of dust transactions to fake the data ?
Yes they can, but they have to pay transaction costs to do so effectively
I think there is an important inflationary effect due to exchanges fractional-reserve: https://bitcointalksearch.org/topic/dataexchanges-their-way-of-using-a-fractional-reserve-and-generate-inflation-945881
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
more sellers than buyers...that's really the simple reason. We can all speculate on why people are selling more than buying, such as recessionary times require people to cash in their savings, or perhaps other investments are more attractive, or perhaps there's been huge liquidation that hasn't been made public.
Transaction volume is good for the "survive-ability" of Bitcoin. The more transactions that happen, the more people are using it...and a successful currency needs people to use it!
also the miner, which dump every day, when the block will halved, the buyers pressure will become stronger for sure, indirectly at least
I'm not giving too much importance to this data. We need a better indicator than the raw number of transactions, which can include dust transactions or fake ones. May be someone could fork the number of transactions above 1 BTC, excluding the most popular addresses.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
more sellers than buyers...that's really the simple reason. We can all speculate on why people are selling more than buying, such as recessionary times require people to cash in their savings, or perhaps other investments are more attractive, or perhaps there's been huge liquidation that hasn't been made public.
Transaction volume is good for the "survive-ability" of Bitcoin. The more transactions that happen, the more people are using it...and a successful currency needs people to use it!
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
There are a lot of factors that needs to be positive first before the price moves upward. Like you, I am also wondering what is the reason why the prices aren't up when there are a lot of positive things happening around bitcoin.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
thats false. they make good profits (the good ones).
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
Price is dependent on many many things, not only unique addresses.
Though, I think the price will rise soon, be patient.
I don't see how is price dependent on the number of transactions ?
Can't people just make a lot of dust transactions to fake the data ?
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
Price is dependent on many many things, not only unique addresses.
Though, I think the price will rise soon, be patient.
ever since January, where we hit a low, the transactions per day have never been as high as they are now.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
the number of unique addresses used is ~30% up from december 2013
miners are struggling making a profit with these prices (so difficulty is lagging behind)
why is the price lagging behind so much?
it has every reason to rise, and yet is doesn't.
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