Bitcoin Forum

Anyone else notice this?

http://blockchain.info/charts/estimated-transaction-volume?showDataPoints=false&timespan=&daysAverageString=1&scale=0

Yeah, but I don't know what it means.
I prefer the chart of transaction *count*: http://blockchain.info/charts/n-transactions
It strikes me as a more useful indicator of whether bitcoin interest/activity is rising or falling.


edit: I rather suspect that the transaction volume can be skewed simply by a large provider such as mtgox changing their cold-storage processes.
If they regularly shuffle some amounts in and out of cold storage - does that show up as some really large transactions? I'm guessing it might.

My chart: shows aggregate sum of transactions in Bitcoins
Your chart: shows quantity of transactions

I think my chart is a better indicator, but yours is important too =)  Both together give a clearer picture of the economy than either of them alone.

People moving their bitcoins into password protected wallets maybe?

Does it know which value in a transaction is the 'change' and which is the actual 'spent' amount?  Does it count both parts as BTC being transferred?
This is part of why I just don't understand what this aggregate chart is measuring.

Ohh good idea... but I think the jump started before the release of 0.5 (came out on nov 21). Also, you'd expect the highest peak to be right at the release of .5, and also you'd would expect to see a similar jump when .4 came out, because it had new encryption.

There was a lot of BitcoinDays Destroyed at about the same time:
 - http://banana.mine.nu/daysdest.html

But nowhere near as much volume on the exchanges ... so that would correspond with moves to encrypted wallets.  Or, there could be a massive amount of bitcoins that were moved to the exchanges, ... just waiting for the rally to tucker out before unloading en masse.  Or there's mixing going on again.  Or an intentional disinformation campaign. Really hard to tell.

.. or  small transfers from some really large wallets but the 'change' amount is included in the chart??

That's been said before when these come up, but does it work that way?  I've never looked at this stuff in depth. 

The "change" is not included in that chart. Blockchain.info has one chart WITH the change, and then also they have the one I posted without.

How is it possible to determine if there is change if the change address doesn't match one of the input addresses (and I would imagine most don't?)

Ok.. somehow I missed this note regarding change.  Still.. I wonder just how that works.

I suspect that that algorithm is not working properly.