Best way to measure Bitcoin popularity?

[zeraTunerse]

Popularity of bitcoins can be calculated by the adoption level. If the adoption level keeps on increasing day by day, than the bitcoin is gaining popularity, if a small grocery shops starts accepting bitcoins as a mode of payment than it is gaining popularity. If every single person is aware about the pros and cons of bitcoin than it is popular or else it is not.

I think there are some country which its government ban bitcoin, but most people there have known about bitcoin and getting into it. They dont build any grocery shops that accept bitcoin in their country, but do online transaction actively. So, although there is no bitcoin grocery shop, bitcoin still popular there.

People are using it for online transactions that is good, but that brings us to the same point that others who are not involved in online shopping are not aware about the bitcoins, if a common man is aware about the bitcoins then I think it is popular.

[Beyonce]

I think the best way to measure popularity is by the price, but also the number of transactions happening every day.

Further to this, you shoudl check out the thread asking people who has 1btc or more. Im gobsmacked that 90% of the people there dont own a whole coin. If you made assumptions that 50% of the accounts on ths forum don't own a whole btc then you can see how any sorts of surveys, traffic counts etc can be deceiving.

It is quite an eye opening read. On the flip side if Bitcoin was truly popular barely a soul would be capable of owning a whole coin.

There are several leaps to make for a coin owner. Hearing about it, knowing about it, properly understanding what it entails, wanting it and then actually getting hold of some. That process might take years for certain people and most would fall at the final furlong.

Lots of people make lots of noise but most don't have the spare cash or the balls to actually own any.

One bitcoin can be a lot of money to some people, but some people join this forum to either learn more about it before they take the plunge or to actually try to earn their first coin in some way.

[Xenoph0bia]

I think the best way to measure popularity is by the price, but also the number of transactions happening every day.

Further to this, you shoudl check out the thread asking people who has 1btc or more. Im gobsmacked that 90% of the people there dont own a whole coin. If you made assumptions that 50% of the accounts on ths forum don't own a whole btc then you can see how any sorts of surveys, traffic counts etc can be deceiving.

It is quite an eye opening read. On the flip side if Bitcoin was truly popular barely a soul would be capable of owning a whole coin.

There are several leaps to make for a coin owner. Hearing about it, knowing about it, properly understanding what it entails, wanting it and then actually getting hold of some. That process might take years for certain people and most would fall at the final furlong.

Lots of people make lots of noise but most don't have the spare cash or the balls to actually own any.

One bitcoin can be a lot of money to some people, but some people join this forum to either learn more about it before they take the plunge or to actually try to earn their first coin in some way.

Agreed, There are many people who wants to learn whole concept of bitcoins, like from where they should invest, when to invest, and make sure they don't invest into any ponzi schemes, and they can get valuable information from this forum.

[tyz]

I think the best way to measure popularity is by the price, but also the number of transactions happening every day.

The price could easily be manipulated thus, it is not a good measurement. Lets say there is a big investor who invests $100 mln into Bitcoin. The would cause a price explosion. But it would say nothing about the popularity.

[Derrike]

I think the best way to measure popularity is by the price, but also the number of transactions happening every day.

The price could easily be manipulated thus, it is not a good measurement. Lets say there is a big investor who invests $100 mln into Bitcoin. The would cause a price explosion. But it would say nothing about the popularity.

Yes, but if a big business man gets into Bitcoin then Bitcoin is considered to be popular.

[xingming]

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.

Hmmm well the latest news I saw is the Bitcoin is now a global currency in Australia that can explain how much bitcoin is popular
their just look at cointelegraph and the news and you will see reasons !

Xing Ming.

[Falconer]

People are using it for online transactions that is good, but that brings us to the same point that others who are not involved in online shopping are not aware about the bitcoins, if a common man is aware about the bitcoins then I think it is popular.

Almost world people have accessed internet, and I'm sure most of them have ever bought something through online shop atleast once or twice. And bitcoin banning by government force people to use it only in internet. But it cant affect the popularity of bitcoin if they really do many transaction with that. So we dont need to make any real shop that accept bitcoin to prove the popularity of bitcoin in the country.

[medUSA]

We cannot estimate the number of users from the number of active addresses, transaction volume or price because everyday coins are being sent from one address to another own by the same person and price is distorted by speculation.

The best measure of bitcoin popularity is the number of merchants accepting bitcoin. I do not expect bitcoin to be widely accepted in brick and mortar stores yet, but when you see more and more online shops accept bitcoin, there is no doubt bitcoin gaining popularity.

[Kaneki]

to measure the level of popularity I think that their use in any sector, preferably in sectors close to the general public or in the micro business sector

[xhoneyael]

as of not we can not measure the popularity of bitcoin
until its not get accepted by goverment and all country..
but  i will rate  bitcoin popularity up 100 for all the people in the world..
i cant say not even 1 percent is the popularity of bitcoin..
in billion people all over the world the people only know about bitcoin..
my higher guess is only over a 1 million..

[Bud Spencer]

Probably by opening a survey on ebay, or amazon to see how many people actually have and use bitcoin.

[bitmarket.net]

how about the turnover and number of transactions ?

[Jeremycoin]

The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?

[davinchi]

The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?

Yes right point.
When bitcoin hit around $1200 price levels, I did read about bitcoin in yahoo news sections. I heard more people are willing to get paid in bitcoin like that. It means high price will being in more people into bitcoin ecosystem same way more people using bitcoin will make bitcoin more strong and valuable.

[Surge_PR]

The price of course, high price for popular and low price for unpopular.
Cos when everyone use Bitcoin the price will increase, right?

Pretty much this...

[n2004al]

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.

As for me, I think that the best way to measure the popularity of bitcoin is its price and the way this its quality move in time. If the price remain stable that mean that the popularity is the same. If the price go high slowly and remain in amounts bigger than the previous ones that is the clear fact that the popularity is increased (slowly but increased). Maybe can be even that the existing users want more bitcoin. And in this case are not increase. But normally more popularity mean more need for bitcoin. The newbies want to own some bitcoin. So we will have increase of demand and the price will go high. If the price go high and they return at the same point this is a sign of speculation but maybe even a little increase of popularity. Because we can be in the situation when some buy and some sell. The increase may be a sign of increase of popularity. The speculation can bring the price in the same level. Anyhow the situations which can be created are to many. For sure can be told only that the increase and the not return at the same previous price is a clear sign of the increase of popularity.

[Bitware]

Use it wherever you can.

Request to use it at every place you spend money. Maybe ask them if they accept Bitcoin yet every time you make a purchase.

If a place will not accept it, then find a replacement for your purchases that do accept it, then notify the other company exactly why you are choosing the Bitcoin-accepting company.

The fastest way to get someone to change their minds and adopt new technology is by voting with your feet and money.

[franky1]

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.

list of retailers/businesses using bitcoin..

bitpay/coinbase quotes that over 100,000 businesses are accepting bitcoin..

i dont think that user counts or address counts mean much.
after all 1 person can have 20+ addresses on average.
after all signature campains or adsense could send out microtransactions 1000 times a day to a single person..

thus addresses and tx's do not reveal anything useful, unless you can prove the context of each addresss/ tx used,

and that is why i only concentrate on how useful bitcoin is. by looking at how many businesses people can use..

my ultimate popularity neon flashing light moment. is when grocery stores accepting bitcoin have enough coverage that anyone in any town can buy their toilet roll and baked beans with bitcoin.

[jaberwock]

More or less the same way you measure the popularity of other things: by how much people are talking about it and how much and where it is being used.

Number of transactions always will be misleading with off chain transactions

[iram66680]

More or less the same way you measure the popularity of other things: by how much people are talking about it and how much and where it is being used.

Number of transactions always will be misleading with off chain transactions

There are very little offchain transactions and the onchain ones would give you a rough estimate of the amount of Bitcoin transacted. Many shop uses POS such as Bitpay and would require onchain payments. I would use the number of unique address used as a rough estimate.