Topic: Time for some good news, BTC Userbase (Full Nodes) grows again. - page 2. (Read 4088 times)
October 11, 2012, 08:17:33 PM
nice
October 11, 2012, 07:59:22 PM
I hate to be a filthy capitalist but the best measure of Bitcoin adoption is the price. The more goods and services exchanged for Bitcoin, the higher the price is. It's really simple.
Price in relation to what? Fiat currencies? That means nothing.
Justify this statement. Please, if you wish.
October 11, 2012, 07:26:20 PM
I hate to be a filthy capitalist but the best measure of Bitcoin adoption is the price. The more goods and services exchanged for Bitcoin, the higher the price is. It's really simple.
Price in relation to what? Fiat currencies? That means nothing.
But I do agree that the more goods/services exchanged for BTC the better.
October 11, 2012, 06:08:46 PM
I think that the amount of nodes is not the best indicator, not even among the best. I prefer market capitalization, exchange liquidity, the amount of transactions in the network (top addresses excluded), the amount of unique Bitcoin addresses used and of course price itself.
I don't have a good graph for exchange liquidity but I know it has increased significantly. This indicator for me is basically "how much the market moves when x amount of fiat is used to buy bitcoins". X could be $100k for example. I don't have data but I know it's a lot better compared to last year. For the others there are some pretty good graphs that I found. All time graphs, 7 day average.
Market cap: http://blockchain.info/charts/market-cap?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Tx amounts (top 100 excluded): http://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Unique Bitcoin addresses used: http://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Price all time: http://blockchain.info/charts/market-price?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Conclusion: Bitcoin is not just growing, it's growing fast!
I don't have a good graph for exchange liquidity but I know it has increased significantly. This indicator for me is basically "how much the market moves when x amount of fiat is used to buy bitcoins". X could be $100k for example. I don't have data but I know it's a lot better compared to last year. For the others there are some pretty good graphs that I found. All time graphs, 7 day average.
Market cap: http://blockchain.info/charts/market-cap?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Tx amounts (top 100 excluded): http://blockchain.info/charts/n-transactions-excluding-popular?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Unique Bitcoin addresses used: http://blockchain.info/charts/n-unique-addresses?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Price all time: http://blockchain.info/charts/market-price?showDataPoints=false×pan=all&show_header=true&daysAverageString=7&scale=0&address=
Conclusion: Bitcoin is not just growing, it's growing fast!
October 11, 2012, 05:41:53 PM
I hate to be a filthy capitalist but the best measure of Bitcoin adoption is the price. The more goods and services exchanged for Bitcoin, the higher the price is. It's really simple.
<(me, talking to myself) Don't do it! You'll regret it! Think before you act!>
+1
<(other voice) It's only a +1. What harm could... Where did you go?>
October 11, 2012, 05:28:58 PM
I hate to be a filthy capitalist but the best measure of Bitcoin adoption is the price. The more goods and services exchanged for Bitcoin, the higher the price is. It's really simple.
October 11, 2012, 05:26:31 PM
Wow this is pretty excellent news. The reason this had been falling forever was the macro trend of users switching primarily to e-wallets, and I doubt that trend will stop. So for the standard client number to be rising -despite- this macro trend is extremely positive.
Exactly. I think that this is very good news but I strongly disagree that it's a good indicator of the actual Bitcoin userbase. Full nodes are only a portion of the userbase because so many people use Bitcoin directly from web wallets and exchanges and sites such as Silk Road.
Also, this graph hides the real amount of unique Bitcoin full nodes quite well. Even in late 2011 we had 800 000 unique (based on IP) full nodes online in a 3 month period. Apparently a large amount of nodes are only online occasionally.
When we combine that data with the fact that certain nodes represent a large amount of users behind the node, we can conclude that the larger Bitcoin userbase is well over 1 million. That is the occasional users though, the number gets a lot smaller when we count active users only.
Important thing is that the actual userbase probably grows. And I still think its the best indicator, I didn't mean to switch it 1to1 to how much users we have, but it's the best measurable variable I know of to calculate actual userbase from (the other variables, like % using webwallets, are unknown, though).
October 11, 2012, 04:58:34 PM
Wow this is pretty excellent news. The reason this had been falling forever was the macro trend of users switching primarily to e-wallets, and I doubt that trend will stop. So for the standard client number to be rising -despite- this macro trend is extremely positive.
Exactly. I think that this is very good news but I strongly disagree that it's a good indicator of the actual Bitcoin userbase. Full nodes are only a portion of the userbase because so many people use Bitcoin directly from web wallets and exchanges and sites such as Silk Road.
Also, this graph hides the real amount of unique Bitcoin full nodes quite well. Even in late 2011 we had 800 000 unique (based on IP) full nodes online in a 3 month period. Apparently a large amount of nodes are only online occasionally.
When we combine that data with the fact that certain nodes represent a large amount of users behind the node, we can conclude that the larger Bitcoin userbase is well over 1 million. That is the occasional users though, the number gets a lot smaller when we count active users only.
October 11, 2012, 04:43:51 PM
Wow this is pretty excellent news. The reason this had been falling forever was the macro trend of users switching primarily to e-wallets, and I doubt that trend will stop. So for the standard client number to be rising -despite- this macro trend is extremely positive.
October 11, 2012, 04:27:43 PM
Awesome, I thought that service was down for good.
Lots of great info there:
- http://bitcoinstatus.rowit.co.uk
Lots of great info there:
- http://bitcoinstatus.rowit.co.uk
October 11, 2012, 04:16:03 PM
I pity those running the official client.
There's no such thing as 'official.'I think the best term is "reference client."
October 11, 2012, 03:14:27 PM
I've been running the Satoshi client for some time now and don't plan to stop.
I'm not sure the number of listeners is any indicator of BTC growth.
I'm not sure the number of listeners is any indicator of BTC growth.
October 11, 2012, 03:05:50 PM
I pity those running the official client.
The sooner we stop calling it official, the faster it will disappear from the Google frontpage for Bitcoin.
October 11, 2012, 03:04:30 PM
I pity those running the official client.
October 11, 2012, 02:36:08 PM
Hey, don't destroy this for me.
I'm sure our userbase grows again.
I'm sure our userbase grows again.
October 11, 2012, 02:26:16 PM
Maybe its more P2Pool miners?
October 11, 2012, 02:23:48 PM
With all the drama going on here, I'm happy to say that the Number of full nodes (which is probably the best indicator for BTC users) shows a constant grow for the first time in over a year:
Finally
Finally
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