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The idea is nice, but this thing is a complete nonsense. The required information to create such a map is simply not available. Some are wondering about the l
by gogeek 9y ago
The idea is nice, but this thing is a complete nonsense.
The required information to create such a map is simply not available.
Some are wondering about the lack of activity in certain regions: There is trading activity in these areas.
Disclaimer: Former exchange operator
- drcode 9y ago> The required information to create such a map is simply not available. All the major cryptocurrency exchanges have open APIs that offer access to completed USD/BTC exchanges- Of course there's gaps in the information, why would anyone expect otherwise?
- mrb 9y agoWhat gogeek means is that this site pretends to show what countries Bitcoin buyers are located, but we simply don't know that. For example if GDAX's API shows a BTC purchase in USD, this site will show the buyer as being in the USA, in reality the buyer could be in any of the numerous countries where the exchange operates (https://support.gdax.com/customer/en/portal/articles/2425188-which-countries-and-states-can-access-gdax- https://support.gdax.com/customer/en/portal/articles/2425188...)
- anamexis 9y agoI don't think that is the premise of this, though - it's not showing where the purchasers are located, but what currency is being traded.
- gogeek 9y agoLet's assume the exchanges provide honest information. Does a trade mean that money has flown into Bitcoin? No. A day trader for example sells and buys his Bitcoins several time a day. We cannot conclude from these trades that a multiple of his Bitcoins has flown into Bitcoin as fiat money.