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Title: Satoshi Dice impact on price Post by: AbsoluteZero on June 20, 2012, 03:33:39 PM Satoshi Dice is generating about 30,000 transactions per day.
Is there a way to estimate the number of people playing, the average bet amount and the number of bitcoins on average that they buy in order to play? I would be nice know the approximate “float” of bitcoins that are being bought to play Satoshi Dice. As their volume of players increases, it grows a demand for bitcoins impacting the price. Title: Re: Satoshi Dice impact on price Post by: mollison on June 22, 2012, 05:04:33 AM At a high level, you could figure out this information, because recent bets are listed on the satoshidice website.
There may be a forum thread with that information already, but I'm not aware of one. Certainly would be interesting to figure out, and even better if someone else figures it out for me. ;D Title: Re: Satoshi Dice impact on price Post by: Caitlyn on June 22, 2012, 06:13:50 AM From what I've seen, most people tend to play with the money already sitting around. I know I've never deposited to play.
Title: Re: Satoshi Dice impact on price Post by: weex on June 22, 2012, 07:30:34 AM From a certain standpoint, Bitcoin obtains its value from the transactions the network carries. So more transactions, even very small ones like from SD, should make the network more valuable and increase demand for coins.
Title: Re: Satoshi Dice impact on price Post by: mollison on June 22, 2012, 07:51:01 AM From a certain standpoint, Bitcoin obtains its value from the transactions the network carries. So more transactions, even very small ones like from SD, should make the network more valuable and increase demand for coins. SD drives up the demand of bitcoins and therefore makes bitcoins more valuable. The number of transactions processed by the network is orthogonal to the value of bitcoins, however. |