Topic: Only 40.000 People use Bitcoin? - page 2. (Read 1784 times)
40,000 users seem way to low, it would probably be at around +1M users. The price wouldn't sustain if it only had 40k users and companies wouldn't invest in bitcoin at all if it had such a small userbase.
Not everyone uses an online wallet, And many people love to hold the btc, Not Everyone buys gadgets etc daily so the active number would be less. Not everyone can buy coffee etc by bitcoin in there specific areas. This is not a good way to calculate the number of users imo.
Yes there would be much more users of bitcoins than 40,000. And it is impossible to judge the exact number of users of bitcoins, as there are many countries that don't support bitcoins, but people of that countries are using bitcoins and you can never come to a specific number of bitcoin users.
1 bitcoin user can have even 100+ addresses, transactions are unreliable to estimate anything really, number of account on blockchain or any other service don't tell us much.
IF you want to know more about this I suggest you read this article first: https://bitscan.com/bitnews/item/how-many-people-really-own-bitcoins-and-why-does-it-matter
According to https://blockchain.info/charts/my-wallet-n-users ... Blockchain - one of the leading Wallett services - claims to have nearly 4 million wallets. On https://blockchain.com/about/ they claim +3.7M users.
But only 250.000(sic!) adresses are active ... https://blockchain.info/charts/n-unique-addresses. In january the number dropped to 116.000.
So my assumption is, that there is a maximum of 120.00 people out there, that use Bitcoin. And I assume that 90% of blockchain.info wallet user have never used bitcoin. When you assume that the average user has 3 adresses active, the number of user further comes down to 40.000 people.
I see growth in bitcoin adoption on the side of merchants when I look at coinmap.org. Ok. They claim to have nearly 10.000 merchants that accept bitcoin. But I don't so massive adoption on the user side right now.
Are there any errors in my assumption?
Thanks,
Bitone
But only 250.000(sic!) adresses are active ... https://blockchain.info/charts/n-unique-addresses. In january the number dropped to 116.000.
So my assumption is, that there is a maximum of 120.00 people out there, that use Bitcoin. And I assume that 90% of blockchain.info wallet user have never used bitcoin. When you assume that the average user has 3 adresses active, the number of user further comes down to 40.000 people.
I see growth in bitcoin adoption on the side of merchants when I look at coinmap.org. Ok. They claim to have nearly 10.000 merchants that accept bitcoin. But I don't so massive adoption on the user side right now.
Are there any errors in my assumption?
Thanks,
Bitone
why do you assume that? If they have made a wallet for bitcoins, doesn't that by definition mean they have used bitcoin? Besides, there are other wallet services, not just blockchain.info. perhaps people simply migrated to other services.
It's impossible to know but probably way less people use Bitcoin than we can think off. We are still a small niche of enthusiasts ahead of the pack. We'll need at least a decade until the rest catches sup with is. Look at the bright side: We are the new 2009 early investors. We'll be compensated by history, im sure about that.
Not everyone uses an online wallet, And many people love to hold the btc, Not Everyone buys gadgets etc daily so the active number would be less. Not everyone can buy coffee etc by bitcoin in there specific areas. This is not a good way to calculate the number of users imo.
Yes there would be much more users of bitcoins than 40,000. And it is impossible to judge the exact number of users of bitcoins, as there are many countries that don't support bitcoins, but people of that countries are using bitcoins and you can never come to a specific number of bitcoin users.
We will more then likely never know the number of Bitcoin users , it's just impossible . also Blockchain is nothing most of people know the security measures to take now [NO ONLINE WALLETS] so they are using Desktop , Paper & Hardware wallets .
And they are simply inactive because they are holding , from what i see more people are getting familliar with BTC and starting to use it .
fully agree with this. besides not all of btc users use this service. i think Blockchain cuts off your btc very high. if u got btc in ten parts , you have to pay minimum 0.001 for sending it from Blockchain sometimes 0.0005 just for one transaction . so some use other alternatives or operate their own wallets. And they are simply inactive because they are holding , from what i see more people are getting familliar with BTC and starting to use it .
We will more then likely never know the number of Bitcoin users , it's just impossible . also Blockchain is nothing most of people know the security measures to take now [NO ONLINE WALLETS] so they are using Desktop , Paper & Hardware wallets .
And they are simply inactive because they are holding , from what i see more people are getting familliar with BTC and starting to use it .
And they are simply inactive because they are holding , from what i see more people are getting familliar with BTC and starting to use it .
Not everyone uses an online wallet, And many people love to hold the btc, Not Everyone buys gadgets etc daily so the active number would be less. Not everyone can buy coffee etc by bitcoin in there specific areas. This is not a good way to calculate the number of users imo.
This number is just for blockchain.info and there are also many more wallet services so it's just a rough estimate of bitcoin users.
It can never be found that how much users use bitcoins.
And I'm having electrum which gave me around 25 addresses when I started using it and I'm using more than half of those right now.
It can never be found that how much users use bitcoins.
And I'm having electrum which gave me around 25 addresses when I started using it and I'm using more than half of those right now.
i think everyone holding and waiting the price to explode, it seems obvious, It would be curious to compare the data of today with the data of when bitcoin had a higher value like 600, 800
i'm sure that there were many more people using their coins, although mostly in dumping
but i don't understand why you think that 90% of blockchain user, and not local wallet users are not using their bitcoin, from where you take this assumption?
i'm sure that there were many more people using their coins, although mostly in dumping
but i don't understand why you think that 90% of blockchain user, and not local wallet users are not using their bitcoin, from where you take this assumption?
According to https://blockchain.info/charts/my-wallet-n-users ... Blockchain - one of the leading Wallett services - claims to have nearly 4 million wallets. On https://blockchain.com/about/ they claim +3.7M users.
But only 250.000(sic!) adresses are active ... https://blockchain.info/charts/n-unique-addresses. In january the number dropped to 116.000.
So my assumption is, that there is a maximum of 120.00 people out there, that use Bitcoin. And I assume that 90% of blockchain.info wallet user have never used bitcoin. When you assume that the average user has 3 adresses active, the number of user further comes down to 40.000 people.
I see growth in bitcoin adoption on the side of merchants when I look at coinmap.org. Ok. They claim to have nearly 10.000 merchants that accept bitcoin. But I don't so massive adoption on the user side right now.
Are there any errors in my assumption?
Thanks,
Bitone
But only 250.000(sic!) adresses are active ... https://blockchain.info/charts/n-unique-addresses. In january the number dropped to 116.000.
So my assumption is, that there is a maximum of 120.00 people out there, that use Bitcoin. And I assume that 90% of blockchain.info wallet user have never used bitcoin. When you assume that the average user has 3 adresses active, the number of user further comes down to 40.000 people.
I see growth in bitcoin adoption on the side of merchants when I look at coinmap.org. Ok. They claim to have nearly 10.000 merchants that accept bitcoin. But I don't so massive adoption on the user side right now.
Are there any errors in my assumption?
Thanks,
Bitone
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