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https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= https://

https://blockchain.info/charts/estimated-transaction-volume-usd?timespan=all&showDataPoints=false&daysAverageString=1&show_header=true&scale=0&address= https://blockchain.info/charts/estimated-transaction-volume-... this looks like a typical exponential curve to me

jdong 12y ago
That looks like the price spiking and lots of trades happening, or alternatively a major individual player moving their coins around. It definitely says nothing about consumer adoption.
- knocte 12y ago
  Moving coins is almost-free, but not 100% free. Why would a major player want to lose money?
  - jdong 12y ago
    https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47JistZqFmW8 https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47Jist... Transparency reasons, for example?
comboy 12y ago
It's hard to accurately measure adoption level mostly because of the decentralised nature of Bitcoin, but looking at the transaction volume is a really bad approach. One individual sending money back and forth can generate tremendous volume (similarly with exchange moving their funds between hot wallet and cold storage). Same goes for transactions count (if you are moving big enough funds you don't have to pay fee), plus there are things like satoshidice or reddit tip bot that tend to move towards off-blockchain transactions now.
- kalleboo 12y ago
  > One individual sending money back and forth can generate tremendous volume Which is what the "days destroyed" measurement looks to compensate for https://blockchain.info/charts/bitcoin-days-destroyed https://blockchain.info/charts/bitcoin-days-destroyed https://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed https://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed
  - comboy 12y ago
    Yeah, it's a very nice metric. But I don't think it's related to adoption. I mean if bitcoin is used as a currency and quickly changing hands you wouldn't expect many "bitcoin days destroyed" (as opposed to when e.g. exchange is reorganizing its funds)
    - sanswork 12y ago
      You would actually expect to still see it climbing week over week though with the odd spike.

jdong 12y ago

That looks like the price spiking and lots of trades happening, or alternatively a major individual player moving their coins around. It definitely says nothing about consumer adoption.

knocte 12y ago
Moving coins is almost-free, but not 100% free. Why would a major player want to lose money?
- jdong 12y ago
  https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47JistZqFmW8 https://blockchain.info/address/12sENwECeRSmTeDwyLNqwh47Jist... Transparency reasons, for example?

comboy 12y ago

It's hard to accurately measure adoption level mostly because of the decentralised nature of Bitcoin, but looking at the transaction volume is a really bad approach. One individual sending money back and forth can generate tremendous volume (similarly with exchange moving their funds between hot wallet and cold storage). Same goes for transactions count (if you are moving big enough funds you don't have to pay fee), plus there are things like satoshidice or reddit tip bot that tend to move towards off-blockchain transactions now.

kalleboo 12y ago
> One individual sending money back and forth can generate tremendous volume Which is what the "days destroyed" measurement looks to compensate for https://blockchain.info/charts/bitcoin-days-destroyed https://blockchain.info/charts/bitcoin-days-destroyed https://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed https://en.bitcoin.it/wiki/Bitcoin_Days_Destroyed
- comboy 12y ago
  Yeah, it's a very nice metric. But I don't think it's related to adoption. I mean if bitcoin is used as a currency and quickly changing hands you wouldn't expect many "bitcoin days destroyed" (as opposed to when e.g. exchange is reorganizing its funds)
  - sanswork 12y ago
    You would actually expect to still see it climbing week over week though with the odd spike.