Bitcoin Forum

I'm curious to know how many bitcoin transactions processed are less than say $100 USD. Can anyone help me out?

It's really hard to count them, don;t know if a similar tool exists, but checking on blockchain, there is shown the value of bitcoin at the moment when the transaction was made so, few years back $100 worth of bitcoin now costs more.

Thanks! Yeah, I agree and that makes sense. Well, the price for about the last year has been pretty stable...I couldn't find any charts on blockchain that show like average transaction size or value. I've heard people quote "70% of transactions are <$100" ie. changetip, satoshidice etc. but I haven't found a way to source and confirm that...

it is random, because you will not know how much people will spend.
Also, why would u want to know this?

Random as in you don't really know if someone is paying by using multiple tx? That I agree with. But i'm more concerned about the average transaction by anyone using it.

I'm trying to verify the evidence that Ive read in support of The Lightning Network stating those micro-transactions should be off-chain. I want to know if its true that as many as 70% are <$100.

Also, you have to realise a lot of those <100$ transactions will probably be coins being sent back to a change address of the original sender... So it'll be pretty hard to know how much money actually changed hands.

Good point ! Exact amount of tx made is difficult to find out.

step 1: know which output is change and which is not. Just pulled one from bc.i

-> https://blockchain.info/tx/ab9e6602eb6e94e23655cd723a4e8f41974414452e3a8043a778afa737835808

Does it pay 0.01 btc or 174.... btc? Most likely 0.01 since its a round number, lets take another one

-> https://blockchain.info/tx/9a922e6c2db4b5ad2d6550ed09f2fadf87ccec5535d88979da144b179f59aacb

now which is the change and which is the payment?

Unless you can resolve this, you cant find an answer to your question.

It does not matter. Both outputs are less than $100. (See original question)  ;D ;D ;D

Still, are these two transactions because its a CoinJoin/Mixer TX or is this a single one? OP will have to decide what they want to see as what. Once they have done that its simple to write a few lines script that will answer their question.

Yes.
I only want to say that the original task is not unsolvable.
It can be solved. Not exact, but with some assumptions and defined accuracy.
Usually, we do not need the exact values.
I think that the answer
"There are N%...M% transactions transferring less than $100 and the probability is X"
may be acceptable

You can create a small script to filter out transactions based on bitcoin amount. However, the bitcoin/usd price varies from time to time. It is hard to predict how much bitcoin is $100 USD worth on various times.

http://rusty.ozlabs.org/?p=500 (http://rusty.ozlabs.org/?p=500)
... you're looking for data presented in here.

I am interested as well.

what is the interest to know that ? you still can crawl the blockchain since a defined date , and you should have your answer dude..  8)

There is no way you can make out .There is not even a suitable way of keeping a track of the transactions that happens on daily basis except for the exchanges.You can manually check the blocks and keep track of all the transactions which are <$100,the probability is just random.

P.S Why would you want to track only the transaction <$100 ?

I believe, it's more than 75% of the total transactions has been made. Because just like me, I rarely(never) send a transaction that has a value more than $100.

Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.

This info won't answered our question directly.

If we classify everything under $100 as micro payment then I think there won't be many transaction in the bitcoin network left to count.
Even thought blockchain is a public and transparent ledger it is very hard to monitor every transaction to see how many of them are not dust and operate on numbers.

I am curious too and am interested in the micro payment part of it.  From comments above it would be difficult to determine the amounts. 

Not really

#1 take prices from e.g. bitcoinaverage[1]
#2 start with block 1 (or any other you find more interesting, maybe Jan 2011) and itterate until you are at the current (or any other interesting, maybe Jan 2016) block
#3 determine day for blocktime
#4 calculate 100 USD bitcoin value for that day (you can also precalculate a btc value based on the pricelist in #1)
#5 itterate over all TX for the given block and filter for TX that match your criteria

[1] https://api.bitcoinaverage.com/history/USD/per_day_all_time_history.csv

I could write a JS iframe scraper for this in about an hour and probably have results in about eight hours unless I had to do long timeouts do to anti-DDOS.

What good is the stat though? I've done a lot of <$100 transactions myself.

Even Transactions with 300$ in them can just be used to pay 1$ and get 299$ as change

Good this post.thanks

The entire issue of the value of the transactions done by Bitcoin is clouded by the transaction used to return change. This makes it almost impossible to know exactly how many Bitcoins are really being transacted.

For example if you have 100 dollars in Bitcoin and send one dollars worth to 100 people as separate transaction it will show as a total of 5,050 dollars having being transacted ($1 plus 99$ change, 1$ plus $98 change and so on).

Another example.  The https://blockchain.info/charts site gives around 2-3 million Bitcoins moving each day.  They then attempt an algorithm to remove the change transactions and the number of Bitcoins falls by a factor of 10 to 200-300,000 Bitcoins moved per day.

This is way too complicated to calculate and it's ever changing. I'd suggest doing a little more research on the subject rather than asking us to do your thinking for you.

I myself have made plenty of transactions in the last year or two. Not one single one was above the $100 mark. I'd guess most were somewhere in the $30-50 range, either moving sig payments or buying stuff.