Best way to measure Bitcoin popularity?

[tyz]

What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses are good measurements but in my opinion those are not really good.

[ridery99]

I think that price is the best way. If moon, it means people are excited, if dump, it means people like fiat more than btc.

[DarkHyudrA]

The best way would be asking people on the streets no?

[Meuh6879]

the best way to measure the popularity of Bitcoin ?

1) ask to the supermarket ever month.

2) ask 10 peoples (young to old) in the street every month.

[dreamspark]

I think that price is the best way. If moon, it means people are excited, if dump, it means people like fiat more than btc.

Personally I think this is a really bad way to measure popularity. Price discovery due to the hodl mentality of most bitcoiners is imo quite bad. There are at most 100k or so of the supply traded backwards and forwards. Mostly between the same hands day trading. The price set by that small % of people and coins being traded. As a true measure of popularity a better metric is needed to ascertain any real idea. Number of transactions though a poor metric is still better than price. The best metric would be a measurement of general use in the real world between people and merchants and peer to peer. Discounting those transactions that fall under the send to selfs and gambling transactions.

[Meuh6879]

In modern (and serious = people) economy ... the people only hold the true value of a thing.

so, to simplify : the pay in cash or credit card ... and hold gold or bitcoins.



because, they trust gold/bitcoin instead of cash/credit cash. 

[g1974ak]

What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses but in my opinion this is not really a good measurement.

No direct way for this I think. Only indirect. How much is written about it, the number of articles in a year, the number of newspapers which wrote about it in a year, the number of conventions in a year, the number of tv shows in one year; even the number of the new youtube videos in a year it is important. But even the number of transactions and the number of wallets are a good indicator.

[Amph]

The best way would be asking people on the streets no?

not convenient and practical at all

I think that price is the best way. If moon, it means people are excited, if dump, it means people like fiat more than btc.

could be manipulation, not a good option

i think th best solution is by looking at the number of transaction per day, those that are "cold storaging" will end their work at the end so if the number of TX per day rise, it must be because new people joined in

[Mickeyb]

What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses but in my opinion this is not really a good measurement.

Go to the DMW and ask every person in lets say a week 5 basic questions, let them take a little questionary.

[GonnaGrinditout]

What do you think is the best way to measure the popularity of Bitcoin? Some say that amount of transactions or used addresses but in my opinion this is not really a good measurement.

Also google trends for "bitcoin" , "BTC" search terms.

[ShetKid]

Best way would be to go to a crowded place and open a booth for free bitcoins. Then see how many people turn up and already know about it. Would be a good measure of how many people are aware of bitcoin and how popular it is.

[AtheistAKASaneBrain]

Since we can't know with exactitude what amount of addresses belong to who and who is actively using BTC or it's a lot of transactions coming from the same source, the best way is simply looking at the Google trends search graph I guess.

[Derrike]

i think th best solution is by looking at the number of transaction per day, those that are "cold storaging" will end their work at the end so if the number of TX per day rise, it must be because new people joined in

No, bro.
As at the time of stress testing and spam attack there were much much greater number of transaction per day,  so this is also not a good way to measure Bitcoin popularity. 

[LiteCoinGuy]

I think that price is the best way. If moon, it means people are excited, if dump, it means people like fiat more than btc.

Personally I think this is a really bad way to measure popularity. Price discovery due to the hodl mentality of most bitcoiners is imo quite bad.

...

price down: bitcoin doomed

price up: bitcoin moon


 


i would look at transactions or

https://panteracapital.com/bitindex/

[Derrike]

Best way would be to go to a crowded place and open a booth for free bitcoins. Then see how many people turn up and already know about it. Would be a good measure of how many people are aware of bitcoin and how popular it is.

Nah,  the people will think that free is free and want to get bitcoins even if they don't even know about it.
That's the human nature.  

[Panadacoin]

I think if there was a way to count all the nodes connected, would be a good way. I guess a problem with this would be that a lot of people disconnected their nodes because of storage constraints. But I think it would still be a good method to get the big picture of popularity.

[Amph]

i think th best solution is by looking at the number of transaction per day, those that are "cold storaging" will end their work at the end so if the number of TX per day rise, it must be because new people joined in

No, bro.
As at the time of stress testing and spam attack there were much much greater number of transaction per day,  so this is also not a good way to measure Bitcoin popularity.  

that was an isolated case, in a normal activity you can determinate better what TX are genuine or not, and there isn't other way btw, that is the best one without violating the privacy of people

[EmpoEX]

Hi,

try using "Google trends".
https://www.google.com/trends/explore#q=bitcoin

Have a nice day!

[jacktheking]

I remember hearing a news where a group of people went to the street and showed Bitcoin logo to random people. Asked them what is the logo about and the result was like.. seven out of ten think it's a currency. Another small portion know it is actually Bitcoin. You could try doing a similar survey. Such as showing the text "Satoshi Nakamoto" or popular Bitcoin address - 1BitcoinEater.

[Derrike]

price down: bitcoin doomed

price up: bitcoin moon


 

This is just a misconception about the prices and popularity.
The price doesn't have any relationship with popularity.
Prices of Bitcoin is in the hands of Whales who are manipulating the market.