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> I can account for over a hundred different crypto wallets, including a number of duplicates on the same chain, some of which have been active at one point or
by olalonde 4y ago
> I can account for over a hundred different crypto wallets, including a number of duplicates on the same chain, some of which have been active at one point or another over the past decade.
Indeed, on-chain address data is more or less useless for counting users, I mentioned this in my comments. The survey I shared wasn't based on on-chain data.
- pclmulqdq 4y agoOn-chain data establishes a useful upper bound on active user count, but does not say the actual number. The upper bound is low enough to say that it's a few thousand users.
- olalonde 4y agoThe upper bound would be over 1 billion for Bitcoin (1+ billion unique addresses)[0]. The number of daily active addresses is around 1 million[1]. And that doesn't account for second layer transactions. Where do you get the "few thousand" from? [0] https://studio.glassnode.com/metrics?a=BTC&category=Addresses&m=addresses.Count https://studio.glassnode.com/metrics?a=BTC&category=Addresse... [1] https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount https://studio.glassnode.com/metrics?a=BTC&m=addresses.Activ...