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> This is bigger than the set of miners, but not by much. From bitcoincharts.com quickly estimating that the volume in exchanges was 2 million BTC. Bitcoins pr
by jerguismi 14y ago
> This is bigger than the set of miners, but not by much.
From bitcoincharts.com quickly estimating that the volume in exchanges was 2 million BTC. Bitcoins produced by mining = 3600*30 = 108000 BTC. Unless the speculators are constantly buying from each other, I would say that there are people earning bitcoins in the bitcoin economy, and the amount of those people vastly outnumbers the miners.
But I doubt that they care that much about the pizza service...
- Nursie 14y ago"Unless the speculators are constantly buying from each other," I would wager that yes, that does account for quite a large volume of the daily exchange volumes.
- MacsHeadroom 14y agoYou would wager wrong, depending on how you define "large." The total exchange volume of all exchanges is only about 93k BTC per day. http://bitcoinwatch.com/ http://bitcoinwatch.com/ The daily transaction volume, with change transactions removed, averages around 400k BTC per day. So speculator trade is less than 1/4 of all Bitcoin transactions. Fun fact: SilkRoad is less than 3% of daily Bitcoin transaction volume 75% of trades are commercial in nature. There are thousands of vendors dealing in BTC- hundreds of which deal in it exclusively. Some are even among the most popular web sites in the world.
- Nursie 14y ago25% of the daily volume (100K out of 400K) is pretty huge if you ask me, yes. How much is money-laundering? How much is people just moving stuff around for the hell of it? Of what's left how much is online gambling (an economic activity but not necessarily a 'good' one)? These things would be very hard to tell I would have thought.