5 ms·

> a few thousand people left on-chain. > all that money just to serve two thousand people This is clearly false and I welcome you to try and prove otherwise.

spaceman_2020 3y ago
You know all on chain data is visible, right? 1. NFT platforms usage volume. OS is down below 5,000 users [0] 2. Arbitrum airdrop to 625k wallets. Most users have multiple wallets. I got airdrops on 3 different wallets. Some friends sybilled this to over 100 wallets. Actual unique wallets not more than 100k. Even free money can't entice people to use this. [1] 3. $PEPE total holders: 35,000. Exclude bots and multiple wallets and that's not more than 15k actual users. Hottest memecoin that shit up to $150M mcap in four days. [2] 4. USDT daily unique senders/receivers - under 80,000. This doesn't exclude bots, exchanges, smart contracts, and users with multiple wallets (I have 8 wallets). You also can't go more mainstream or "utility" than this coin. Real unique daily users are probably under 30k. [3] Exchange users are immaterial. They're just traders and investors buying the next cycle of trash. Actual usage metrics are on-chain users. This is being pitched as the next Visa but in reality, the network slows to a crawl even when it has to serve 10-20k real users. Meanwhile, Visa is able to serve literally hundreds of millions of users every month. 0. https://dune.com/queries/1622348/2688962?utm_source=mintorskip.beehiiv.com&utm_medium=newsletter&utm_campaign=nfts-are-in-free-fall https://dune.com/queries/1622348/2688962?utm_source=mintorsk... 1. https://dune.com/blockworks_research/arb-airdrop https://dune.com/blockworks_research/arb-airdrop 2. https://etherscan.io/token/0x6982508145454Ce325dDbE47a25d4ec3d2311933#balances https://etherscan.io/token/0x6982508145454Ce325dDbE47a25d4ec... 3. https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7#tokenAnalytics https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c...
- olalonde 3y ago
  Bitcoin: around 4,000,000,000 USD transacted yesterday on-chain (not counting off-chain)[0]. Ethereum: around 3,000,000,000 USD transacted yesterday on-chain (not counting off-chain)[1]. [0] https://www.blockchain.com/explorer/charts/estimated-transaction-volume-usd https://www.blockchain.com/explorer/charts/estimated-transac... [1] https://www.theblock.co/data/on-chain-metrics/ethereum/ethereums-adjusted-on-chain-volume-daily https://www.theblock.co/data/on-chain-metrics/ethereum/ether...
  - ChainOfFools 3y ago
    This is such a quintessentially crypto huckster response, with all the usual blind spots in all the usual places. You've measured virtual dollars, while OP was measuring actual human users.
    - olalonde 3y ago
      He didn't. Like he admitted, it's not possible to do so with any sort of accuracy using on chain data. There are over a billion Bitcoin addresses but this might overcount the number of users since wallets are typically composed of multiple addresses, or it could undercount due to the popularity of custodian service where multiple users share the same addresses. The best we can do are surveys. According to this one[0], there are around 34 million Americans that have a cryptocurrency wallet. I suppose the world wide number of users is a lot higher. [0] https://www.insiderintelligence.com/insights/us-adults-cryptocurrency-ownership-stats/ https://www.insiderintelligence.com/insights/us-adults-crypt...
      - spaceman_2020 3y ago
        I literally shared on chain data. That's actual users. Even if you assume that all 80k unique wallets that exchanged USDT yesterday were real users, that's just...80,000 users. Niche forums have more users than that. Anyone who has ever created an account on a crypto exchange has a crypto address. I have accounts at Binance, WazirX, Kraken, Crypto.com, Gate.io, Mexc, ByBit, and probably 2-3 more exchanges I can't remember. That means I have 10+ addresses. But that's not real users. Any money I've sent to exchanges is just for trading/investing. I'm not actually using the tech. On-chain usage is the only real usage. The rest is just banking with more hurdles and scams.
        olalonde 3y ago
        > But that's not real users. I think we're in agreement here? On-chain data is more or less useless for counting actual users. That's why I was sharing survey data, which is the best approximation we can get. For actual users using the tech, it's also difficult to know but we can see that the on-chain transaction volume is quite significant (multi billion dollar daily).
- humanizersequel 3y ago
  I am not interested in getting into the weeds, but honestly, the fact that you're pointing to actual memecoins like "$PEPE" and spurious DAU measurements, but still ceding a 10x of your original 1-2k users claim gives me very little confidence in you being a serious person.
  - spaceman_2020 3y ago
    I have very little confidence in your reading comprehension. I said DAUs of OS (OpenSea) are down to a few thousand, not all of crypto. I also shared unique transacting addresses for USDT yesterday. That's surely not a memecoin, and that was under 80,000 addresses yesterday. I trade crypto and its very profitable, but don't waste your time buying the hopium of this scam.

spaceman_2020 3y ago

You know all on chain data is visible, right? 1. NFT platforms usage volume. OS is down below 5,000 users [0] 2. Arbitrum airdrop to 625k wallets. Most users have multiple wallets. I got airdrops on 3 different wallets. Some friends sybilled this to over 100 wallets. Actual unique wallets not more than 100k. Even free money can't entice people to use this. [1] 3. $PEPE total holders: 35,000. Exclude bots and multiple wallets and that's not more than 15k actual users. Hottest memecoin that shit up to $150M mcap in four days. [2] 4. USDT daily unique senders/receivers - under 80,000. This doesn't exclude bots, exchanges, smart contracts, and users with multiple wallets (I have 8 wallets). You also can't go more mainstream or "utility" than this coin. Real unique daily users are probably under 30k. [3] Exchange users are immaterial. They're just traders and investors buying the next cycle of trash. Actual usage metrics are on-chain users. This is being pitched as the next Visa but in reality, the network slows to a crawl even when it has to serve 10-20k real users. Meanwhile, Visa is able to serve literally hundreds of millions of users every month. 0. https://dune.com/queries/1622348/2688962?utm_source=mintorskip.beehiiv.com&utm_medium=newsletter&utm_campaign=nfts-are-in-free-fall https://dune.com/queries/1622348/2688962?utm_source=mintorsk... 1. https://dune.com/blockworks_research/arb-airdrop https://dune.com/blockworks_research/arb-airdrop 2. https://etherscan.io/token/0x6982508145454Ce325dDbE47a25d4ec3d2311933#balances https://etherscan.io/token/0x6982508145454Ce325dDbE47a25d4ec... 3. https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c13d831ec7#tokenAnalytics https://etherscan.io/token/0xdac17f958d2ee523a2206206994597c...

olalonde 3y ago
Bitcoin: around 4,000,000,000 USD transacted yesterday on-chain (not counting off-chain)[0]. Ethereum: around 3,000,000,000 USD transacted yesterday on-chain (not counting off-chain)[1]. [0] https://www.blockchain.com/explorer/charts/estimated-transaction-volume-usd https://www.blockchain.com/explorer/charts/estimated-transac... [1] https://www.theblock.co/data/on-chain-metrics/ethereum/ethereums-adjusted-on-chain-volume-daily https://www.theblock.co/data/on-chain-metrics/ethereum/ether...
- ChainOfFools 3y ago
  This is such a quintessentially crypto huckster response, with all the usual blind spots in all the usual places. You've measured virtual dollars, while OP was measuring actual human users.
  - olalonde 3y ago
    He didn't. Like he admitted, it's not possible to do so with any sort of accuracy using on chain data. There are over a billion Bitcoin addresses but this might overcount the number of users since wallets are typically composed of multiple addresses, or it could undercount due to the popularity of custodian service where multiple users share the same addresses. The best we can do are surveys. According to this one[0], there are around 34 million Americans that have a cryptocurrency wallet. I suppose the world wide number of users is a lot higher. [0] https://www.insiderintelligence.com/insights/us-adults-cryptocurrency-ownership-stats/ https://www.insiderintelligence.com/insights/us-adults-crypt...
    - spaceman_2020 3y ago
      I literally shared on chain data. That's actual users. Even if you assume that all 80k unique wallets that exchanged USDT yesterday were real users, that's just...80,000 users. Niche forums have more users than that. Anyone who has ever created an account on a crypto exchange has a crypto address. I have accounts at Binance, WazirX, Kraken, Crypto.com, Gate.io, Mexc, ByBit, and probably 2-3 more exchanges I can't remember. That means I have 10+ addresses. But that's not real users. Any money I've sent to exchanges is just for trading/investing. I'm not actually using the tech. On-chain usage is the only real usage. The rest is just banking with more hurdles and scams.
      - olalonde 3y ago
        > But that's not real users. I think we're in agreement here? On-chain data is more or less useless for counting actual users. That's why I was sharing survey data, which is the best approximation we can get. For actual users using the tech, it's also difficult to know but we can see that the on-chain transaction volume is quite significant (multi billion dollar daily).
humanizersequel 3y ago
I am not interested in getting into the weeds, but honestly, the fact that you're pointing to actual memecoins like "$PEPE" and spurious DAU measurements, but still ceding a 10x of your original 1-2k users claim gives me very little confidence in you being a serious person.
- spaceman_2020 3y ago
  I have very little confidence in your reading comprehension. I said DAUs of OS (OpenSea) are down to a few thousand, not all of crypto. I also shared unique transacting addresses for USDT yesterday. That's surely not a memecoin, and that was under 80,000 addresses yesterday. I trade crypto and its very profitable, but don't waste your time buying the hopium of this scam.