CryptoCoinsInfoClub.com

Bitcoin Daily Transaction Volume

Bitcoin Transaction Volumes Up 55% In 2017

Bitcoin Transaction Volumes Up 55% In 2017

Bitcoin Transaction Volumes Up 55% in 2017 Transaction volumes for Bitcoin are up 55 percent on 2016, data shows, now averaging $260 mln a day. Bitcoins transaction volume in 2017 exploded to $260 mln per day - or $180,000 per minute, according to the latest statistics. The figures, which are currently circulating through the community on social media, show sustained solid growth in use year on year. "Bitcoin transactional volume in 2017 has been $260M per day, $180K per minute. Up 55% fro pic.twitter.com/8TOIN6hBal The Bit Coiner (@The_BitCoiner) February 17, 2017 In 2016, widely considered to be a breakout year for Bitcoin, volumes grew by 118 percent during the previous 12-month period. At the same time, citing Chain product architect Oleg Andreev, cryptocurrency investor Trace Mayer noted that Bitcoin moves the equivalent of 45 tons of physical gold every day but with a fee rate of less than 0.01 percent. #Bitcoin moves equivalent of 45 tons of physical $gold every day for less than 0.01% in fees. Lots of $BTC price upside still available! pic.twitter.com/DqZoNgNAVp Trace Mayer (@TraceMayer) February 17, 2017 Mayers comments, however, received mixed reactions , as Andreev himself described the statistics as trolling a bit. Nonetheless, Bitcoins upward trajectory is giving optimism to investors. While many expect the next watershed moment to be the yes or no verdict on the first Bitcoin ETF, cryptocurrency commentators are at odds with analysts over the likely outcome. Meanwhile, an Emerita Capital analyst most recently stated that a positive decision would send the Bitcoin price surging by around 65 percent of its current value. Continue reading >>

What Is The Daily Volume, Or Dollar Value, Of Btc / Bitcoin That Is Used As A Currency, Meaning To Purchase Goods Or Services?

What Is The Daily Volume, Or Dollar Value, Of Btc / Bitcoin That Is Used As A Currency, Meaning To Purchase Goods Or Services?

Alan Shteynberg , Cryptocurrency and Blockchain Enthusiast Answered 23w ago Author has 74 answers and 45.1k answer views This is a good question as I dont think such data exists yet considering the nature of decentralized currencies like Bitcoin. If I had to guess, I would say its a VERY small percentage. Most value in Bitcoin is without doubt being trading and speculated with. This is why Ethereum is cool, because the Ether is used as gas to power smart contracts that are validated by the network, which is applied to many industries. You also have to ask yourself why anyone would spend Bitcoin if it only keeps going up. Many people I encounter think Bitcoin is some get rich scheme so I dont think were anywhere close yet to such adoption. If Bitcoin were tied to a major industry like the USD is tied to petrol, then we would see much less volatility, but that wont happen. 125 Views View Upvoters Answer requested by No one has provided an answer to this question because no-one knows. Bitcoins are transfers of money without giving the reason for the transfer. Why the transfer was made is unknown and unrecorded. That is their attraction. A guess is that it would be way less than 0.01% Transfers of regular currencies used to purchase goods and services is low. For example, for a country like Australia the value of external trade in goods and services over a year is about 5 days worth of currency trades or 1.3%. The rest is in setting the value of money. Similarly with any money market. Money markets will gradually disappear because they are too expensive. There are better ways of establishing the value of money than a money market. Giving money tokens a value through a money market will disappear because it is expensive and there are cheaper ways of setting the value of mon Continue reading >>

Bitcoin Now Processes $2 Billion Worth Of Transactions Per Day, A 10x Increase In 2017

Bitcoin Now Processes $2 Billion Worth Of Transactions Per Day, A 10x Increase In 2017

Bitcoin Now Processes $2 Billion Worth Of Transactions Per Day, A 10x Increase In 2017 Opinions expressed by Forbes Contributors are their own. The bitcoin logo is displayed on an automated teller machine (ATM) at the Coin Trader bitcoin retail store in Tokyo, Japan. Photographer: Tomohiro Ohsumi/Bloomberg 2017 has been bitcoins biggest year yet, with the digital asset reaching another new all-time high above $8,000 over the weekend. In addition to the exploding price, the total value transacted on the network per day has also seen substantial gains this year; however, the actual number of transactions processed by the network per day has been rather stagnant in 2017. Lets take a look at the numbers provided by Blockchain.info. Estimated USD transaction value per day on the Bitcoin network (Blockchain.info). For most of January, roughly $200 million worth of bitcoin was being sent around the Bitcoin network per day. Things didnt really take off until May where there was a steady rise in the total value of the transactions processed by the network. Near the end of that month, days where more than $700 million was transacted on the network were common. After declining over the next couple of months, the value being transacted on the Bitcoin network spiked in the runup to the release of Bitcoin Cash, which forked off from the Bitcoin ledger on August 1st. The lock-in of the much-anticipated Segregated Witness (SegWit) improvement for Bitcoin also occurred around this time. Roughly a billion dollars of value was sent around the Bitcoin network per day in early August. This number declined down to $600 million by late September before exploding to $1.5 billion by late October. November 16th set a new all-time high for value transacted over the Bitcoin network in a single da Continue reading >>

Bitcoin Transaction Volumes Fall To Lowest Level In Two Years

Bitcoin Transaction Volumes Fall To Lowest Level In Two Years

Bitcoin Transaction Volumes Fall to Lowest Level in Two Years Demand for bitcoin transactions has considerably fallen since the beginning of the year to a low of 149,000 transactions, just around 25% of the all-time high at 490,000. The networks congestion has now pretty much cleared, although there are still some 8,000 transactions waiting to move, far lower than the highs of 300,000. Fees have fallen too from their highs of around $70, but they still stand at a relatively high $2 per transaction, far more than eths fees of two cents or so. Bitcoin has not been operating at the current level of demand since November 2015, a significant drop in just week. During the same period price has fallen by nearly just as much percentage wise, but considering bitcoins price in 2015, it might also be the case fewer businesses or projects are now using BTC, suggesting recent transaction demand has been more due to price speculation. Although another reason might be a more efficient use of the blockchain, with some exchanges trying to group transactions through batching. And it isnt just bitcoin that has seen a lower level of transaction demand. Ethereum has too, albeit in a far less pronounced manner. Ethereum transacting demand is at where it was just this December, falling from the high of 1.3 million to now at around 800,000. Price has fallen too at the same time, but less than bitcoin, down from $1,400 to $850 compared to btcs fall from $20,000 to $8,500. Ethereum, therefore, has not halved in price, while bitcoin is down some 60% and was down 75% at its lowest recent price of $5,500. Ethereums transaction demand has not halved either, while bitcoins is down by around the same percentage point as the price, so suggesting a clear correlation between price and transaction demand Continue reading >>

Daily Transactions | Bitcoin.com Charts

Daily Transactions | Bitcoin.com Charts

The number of transactions included in the blockchain each day Daily Transaction count is one of the most important and controversial metrics for the bitcoin network. Because all confirmed transactions pay a fee, each confirmed transaction represents someone's desire to send a bitcoin transaction instead of any alternative use of that cost. Bitcoin transactions can be executed and automated by software, but this is limited by the bandwidth of the network and required fees. Occasionally large numbers of transactions will be made in a short time interval, leading to long confirmation times and some transactions that may not confirm at all. While some attribute unusually high transaction volume to "spam" transactions, others hold that any transactions following the rules of the network are valid. Because transactions have a real world cost, daily transaction count is one of the best ways to model growth in users of the bitcoin network. Daily transaction count could be manipulated in the short term, but it's difficult to identify plausible motives given the high costs . Continue reading >>

Will Rising Transaction Fees Bring Down Bitcoin's Price?

Will Rising Transaction Fees Bring Down Bitcoin's Price?

Will Rising Transaction Fees Bring Down Bitcoin's Price? By Rakesh Sharma | Updated December 10, 2017 11:25 AM EST Hydropower: The Key to Bitcoin Mining in the Future? High transaction fees for bitcoin payments claimed a casualty last week, when gaming site Steam announced it would discontinue the use of the cryptocurrency on its platform. In a statement, the game service identified bitcoins volatility and high transaction fees as reasons for its decision. According to Value, the studio behind Steam, the fees resulted in unreasonably high costs for its gameswhen the payment mode was bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically, the studio stated. (See also: How Much Cheaper Are Bitcoin Fees As Compared To Credit Card Fees? ) The Relationship Between Transaction Fees And Bitcoin Price Bitcoins average transaction fees have kept pace with the increase in bitcoins price. At the start of 2017, the average transaction feefor transactions that used bitcoin as a payment mechanism was $0.392. As of yesterday, it had risen to $21.567. The price of a single bitcoin in dollar terms has shot up by more than 1,000 percent since the start of 2017. But it is difficult to ascertain causes for the increase. Even though the cryptocurrency has gained traction and has even been legalized in some countries like Japan, statistics regarding its usage are hard to come by. (See also: Bitcoin Gets Boost From Japan .) Will High Transaction Fees Bring Down Bitcoins Price? But will high transaction fees hurt bitcoin's price? Not really. Analysts surmise that bitcoin usage constitutes a very low percentage of the cryptocurrencys transaction volumes. In July, Morgan Stanley payments analyst James Faucette wrote that bitcoin accept Continue reading >>

Bitcoin Transactions Fall By Around Half - Crunchbase News

Bitcoin Transactions Fall By Around Half - Crunchbase News

Alex Wilhelm is the Editor in Chief of Crunchbase News, covering the intersection of startups and money. Morning Report: Bitcoin transaction volume is falling, but thats helping lower bitcoins transaction costs and draining its backlog. In late December, bitcoin volume spiked to nearly 400,000 transactions confirmed per day, a number that was nearly double its August lows. According to Blockchain.info , daily transaction volume rose from around 210,000 per day in early August to just under 400,000 in the last month of the year. Follow Crunchbase News on Twitter & Facebook Since then, bitcoins volume has fallen precipitously, slipping under the 200,000 daily transaction mark in February before recovering to that numerical threshold. You can see the gyrations here in the confirmed transactions chart (one-year timespan, seven-day average chart): Why do we care about bitcoins short-term momentum changes when things like Robinhood are more exciting? Mostly because by tracking bitcoins vitals, we can look under the hood. Its well and good that so many folks signed up for Robinhoods crypto project. But when volume is down as far as it is this month, its better to know the latter than get caught up in what crypto-excited startups are doing. Returning to the data, the above image isnt a very bullish chart, as it indicates that when the price of bitcoin dropsas it did from December into the new yearbitcoin volume is heavily impacted. Naturally, some correlation is to be expected. But if were seeing the crypto come to its natural transaction volume state as speculation cools, the indication is that bitcoins natural use is only so large. Bitcoin transaction volume has fallen to around its March2016 levels. However, there is good news. Fees for bitcoin transaction have fallen from Continue reading >>

Bitcoinity.org

Bitcoinity.org

8MB- blocks containing string "8M" in their coinbase scriptSig (i.e. miners supporting block size increase to 8MB citation needed ) BIP100- blocks containing string "BV" + some digits in their coinbase scriptSig that is BIP100 (and others based on it), also includes blocks with string "BIP100" in coinbase BIP101- blocks with version 0x20000007 as defined in BIP101 None- blocks mined without any indication of block size increase support Continue reading >>

Bitcoin Transaction Volume Soon To Surpass Paypal

Bitcoin Transaction Volume Soon To Surpass Paypal

so much so that the digital currency is now on pace to surpass the e-commerce giant eBays flagship servicePayPal in terms of the number of US dollar transactions in the near future. According to the International Business Times , the California-based hedge fund, Laureate Trust , believes that bitcoin is soon to become the premier monetaryvehicle in howpeople make transactions to one another no matter where they are in the world. The firm notes that as the daily dollar amount of bitcoin transactions now exceed $300 million, the digital currency is quickly making its way towards an increased rate of adoption. CEO of Laureate Trust, Peter Tasca, explains: you have an instrument that trades over 300 million US dollars a day, it must be recognized; the digital currency works, bitcoin has greater volume transactions than Western Union and we anticipate it will PayPal processes just $315.3 million in transactions everyday, just slightly above the dollar amount of bitcoins daily transactions despite the digital currency still remaining at a relatively low percentage Data Represents a 7-day Average as of December 3 the developerthe first biometrically protected bitcoin payment card, remains heavily leveraged in respect to bitcoin adoption; however, the companys CEO, Chaya Hendrick, says that bitcoins sheer transaction volume will continue to rise at astaggeringrate: next one or two years, Bitcoin can surpass the dollar transaction volumes of other established payment companies including Discover, and even American Express, MasterCard, and Visa. see the number of bitcoin transactions climbing, Laureate, who currently manages a $5 billion hedge fund, predicts that along with increased volumes will come an increase in price, which he expects to be somewhere Silbert, recently expla Continue reading >>

Bitcoin Transaction Volume Hits Two-year Low, Despite Rock-bottom Fees

Bitcoin Transaction Volume Hits Two-year Low, Despite Rock-bottom Fees

Bitcoin Transaction Volume Hits Two-Year Low, Despite Rock-Bottom Fees Bitcoin traders are holding on to their funds, despite super-low network fees, data suggests. Bitcoins sideways price action has led to the lowest number of confirmed transactions per day since March 2016, according to Blockchain.info. Data shows BTC transactions falling in line with downward trends in price since the all-time highs of December 2017. The number of transactions reached a two-year low on Feb. 26 with only 180,000 confirmed transactions, while Sunday, March 4 saw just 195,500. The slump comes at a time when Bitcoin struggles to regain the sky-high USD value it achieved late last year, when it reached $20,000 on some major exchanges. Despite the release of support for Segregated Witness ( SegWit ) technology by Bitcoin Core and exchanges Coinbase and Bitfinex in February, faster and cheaper Bitcoin transactions appear to interest investors less than overall trading potential. SegWit is slowly cornering the BTC transaction market, constituting almost 30% of transactions according to data from monitoring site SegWit Party. A glance at popular trading platforms likewise confirms the current consumer desire to hodl on to ones bitcoins and watch the market, rather than cash out or convert currencies. P2P resource Localbitcoins posted six-month lows in weekly trade volumes across global markets, with a total of just under $57 mln transactions during the week ending Feb. 24. Low transaction numbers and the small size of BTCs catalog of unprocessed transactions continue to create some of the cheapest fees seen in months, with Earn.coms calculator currently recommending 40 satoshis , or about $0.005, per byte. Continue reading >>

Bitcoin Puzzle: Price Is Up But Transaction Volume Isn't | Fortune

Bitcoin Puzzle: Price Is Up But Transaction Volume Isn't | Fortune

Earlier this year, when Bitcoins price fell by more than 60% from its record close, a less-noticed Bitcoin figure also plunged: the number of daily transactions. There are many explanations for the fall-off in trading, from software- to news-related. Whats less understood is why the level hasnt recovered as Bitcoins price made a 50% comeback since Feb. 5. Thats left some investors wondering whether the cryptocurrency is waning in popularity. The average number of trades recorded daily has roughly dropped in half from the December highs and touched its lowest in two years last month, even as Bitcoin became a household name and roared back above $10,000. The transaction data may be bad news for Bitcoin bulls, according to Charles Morris, chief investment officer of Newscape Capital Group in London, who invests in cryptocurrencies. Trading and purchases on the Bitcoin network, which can be measured by metrics like transaction volume, is indicative of price direction, he said. We had a hype-cycle and now its cooling down, Morris, whos working on a project that will facilitate price discovery in various cryptocurrencies, said by phone from London. We just may be entering a bear market for Bitcoin. Transactions plunged from a seven-day average of almost 400,000 in mid-December to about 200,000 this week, according to research firm Blockchain.info. The last time it was this low, the currency traded below $500. Transactions waiting to be officially recognized by the Bitcoin network dropped from a seven-day average of 130 million bytes in early January to about 35 million now. Average transaction confirmation times have tumbled though that may be in part because the technology that underlies Bitcoin has already been adapted to address some of these delays. For example, a softwa Continue reading >>

Litecoin Catching Bitcoin In Transaction Volume Andvalue.

Litecoin Catching Bitcoin In Transaction Volume Andvalue.

Litecoin catching Bitcoin in transaction volume andvalue. Since my last post in which I shared data about LTCs real world usage and value, the price of Litecoin has doubled from ~$150 to $300USD. In that story I give some insight how to evaluate the number of transactions and the value to calculate Litecoins currently undervalued status. One of the predictions I made is that in the following year we will begin to see news headlines of LTC performing better than some economies. Well its already beginning: At the time of writing last week we saw that on avg. 15.8x as much value was being exchanged in total on the BTC network compared to LTC while Bitcoin was valued disproportionately at 100 times Litecoin. Where are we at now? In relation to sheer transaction amounts we have gone from BTC having ~5.5x as many transactions to now ~3.5x. The numbers dont lie. Litecoin usage is not just growing its speeding up. Litecoin value being exchanged also going parabolic The average transaction value is now seeing less than 3x at 2.83. At the peak values so far in December just a few days ago, we can see LTCs avg. transactions grew to half the size of Bitcoin. In terms of working out overall value being exchanged (Number of transactions multiplied by the average value of transaction) we have gone from 15.8x the value sent on Bitcoin vs Litecoin down to only 9.8x. Its significant growth, to say the least. Again, if we took this real world usage as a way of deriving the value of LTC we are looking at LTC true value being ~.1BTC which is roughly 10x times more than what Litecoin is currently priced. Litecoin is where Bitcoin was only a few months ago in usage The average transaction on the Litecoin network is not coffees and micro payments on blogs. No, the avg. transaction on LTC is c Continue reading >>

Bloomberg: Bitcoin Txs Dropping But Article Ignores Key Facts

Bloomberg: Bitcoin Txs Dropping But Article Ignores Key Facts

I heard that a dancer in Vegas has a bitcoin QR code tattoo and all I could think of was... I hope it is a temporary tattoo because they might want to upgrade to a bech32 native segwit address to save on fees. Also address re-use is poor privacy. Andreas M. Antonopoulos (@aantonop) February 28, 2018 Mainstream publications such as Bloomberg and Forbes have recently reported on the drop in Bitcoins daily transaction volumes. The articles indicated a drop in the popularity of bitcoin and suggested the price has further to fall as usage is dropping. However, many in the crypto community refuted the analysis claiming that it missed some key points; batching, Segregated Witness and spam. The Bloomberg article cited data from Blockchain.info, a popular bitcoin block explorer. The chart below was used in the article to suggestbitcoin was losing popularity and price will likely follow. However, what was not mentioned in the article was the recent upgrades from some of the largest exchanges such as Coinbase, Shapeshift and Kraken. These exchanges have recently implemented SegWit and started batching transactions which has reduced the daily bitcoin transaction volume. The author of Mastering Bitcoin, Andreas Antonopoulous, responded to the article: You're going to need to learn how to evaluate metrics in this new technology. Don't botch it on batching! Andreas M. Antonopoulos (@aantonop) March 2, 2018 Batching transactions drastically reduces the number of transactions sent by exchanges to settle user payments. Coinbase was infamous for often sending two transactions to settle one users payment. With optimised transaction batching it is thought this can be reduced significantly. Wow! A block was mined containing 83% #segwit transactions. #bitcoin pic.twitter.com/A2kmBjfF9T Armin Continue reading >>

Bitcoin's Plunge In Volume Stirs Questions About Its Usage

Bitcoin's Plunge In Volume Stirs Questions About Its Usage

Bloomberg the Company & Its Products Bloomberg Anywhere Remote LoginBloomberg Anywhere Login Bloomberg Terminal Demo Request Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Bitcoin's Plunge in Volume Stirs Questions About Its Usage Confirmation delays also collapsed, Blockchain.info data show We just may be entering a bear market: Newscapes Morris The J-Pop Band Wants to Teach You About Cryptocurrencies Earlier this year, when Bitcoins price fell by more than 60 percent from its record close, a less-noticed Bitcoin figure also plunged: the number of daily transactions. There are many explanations for the fall-off in trading, from software- to news-related. Whats less understood is why the level hasnt recovered as Bitcoins price made a 50 percent comeback since Feb. 5. Thats left some investors wondering whether the cryptocurrency is waning in popularity. The average number of trades recorded daily has roughly dropped in half from the December highs and touched its lowest in two years last month, even as Bitcoin became a household name and roared back to near $11,000. The transaction data may be bad news for Bitcoin bulls,according to Charles Morris, chief investment officer of Newscape Capital Group in London, who invests in cryptocurrencies. Trading and purchases on the Bitcoin network, which can be measured by metrics like transaction volume, is indicative of price direction, he said. Number of transactions per day drops near lowes Continue reading >>

Charts - Coin Metrics

Charts - Coin Metrics

Only price and exchange volume data is available for Ripple (XRP) currently. Daily on-chain transaction volume is calculated as the sum of all transaction outputs belonging to the blocks mined on the given day. Known change outputs are not included. Estimation difficulties remain and the measure is imprecise. We discuss this here . Transaction count doesnt include coinbase transactions. Value of Created Coins (VoCC) is the USD value of new coins minted on a given day multiplied by the closing price on the same day. Inflation is computed by dividing created VoCC by network value (market cap) which is equivalent to dividing amount of coins minted on the given day by total coin supply on the same day. Zcash figures for on-chain volume and transaction count reflect data collected for transparent transactions only. In the last month, 10.5% (11/18/17) of ZEC transactions were shielded, and these are excluded from the analysis due to their private nature. Thus transaction volume figures in reality are higher than the estimate presented here, and NVT and exchange to transaction value lower. Data on shielded and transparent transactions can be found here and here . Decred data doesnt include tickets and voting transactions. Monero transaction volume, NVT and exchange to transaction volume are impossible to calculate due to RingCT technology which hides the amounts sent for every transaction. Continue reading >>

More in litecoin