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Author Topic: Bitcoin's Big Challenge in 2016: Reaching 100 Million Users  (Read 1174 times)
steveds
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January 04, 2016, 06:35:54 AM
 #21

"Like with VoIP, global adoption of bitcoin and blockchain technology will take time. But it’s already happening. It will be in the background, but just as ‘communications’ now is a part of many apps – from Facebook to call centres, so will transactions powered by blockchain be more and more prevalent.
Despite our lack of progress, we have something precious. Anecdotally, I can’t think of a single other back-end system that has been online for seven years without a glitch, running 24 hours a day, seven days a week, 365 days a year. The bitcoin blockchain has proven its resilience. In fact, a quick review of some stats points to hardening and maturity across the network.
Over the past 12 months the hashrate of the bitcoin network has tripled, to over 650,000,000GH/s. User growth across core services has been impressive.
According to publicly available data, there are now over 10 million bitcoin wallets. Perhaps the most informative statistic of all is the transaction volume: the number of transactions has also grown impressively, from roughly 80,000 a day to more than 200,000 without showing any signs of slowing."

Those wallets can also be multiple wallets for one person.  How could we ever get an accurate user count of "anonymous" users?

A rough estimation for real or unique users would be like 40-50% of the total number.however the exchanges already know the details or multi accounts but they won't make it public.
i would say if it goes to 20 million in this whole new year from 600k (what it is today) could be more than enough.

Also, think about how many brand new users set up an online wallet or download one and lose interest when they find out it is not a true get rich quick solution.

But it doesn't has any significant affects cause it gets mixed with the other new people who get inn.The average would certainly go lower and lower as the total number of users increase and start investing their money or time.
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The network tries to produce one block per 10 minutes. It does this by automatically adjusting how difficult it is to produce blocks.
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January 04, 2016, 06:37:12 AM
 #22

"Like with VoIP, global adoption of bitcoin and blockchain technology will take time. But it’s already happening. It will be in the background, but just as ‘communications’ now is a part of many apps – from Facebook to call centres, so will transactions powered by blockchain be more and more prevalent.
Despite our lack of progress, we have something precious. Anecdotally, I can’t think of a single other back-end system that has been online for seven years without a glitch, running 24 hours a day, seven days a week, 365 days a year. The bitcoin blockchain has proven its resilience. In fact, a quick review of some stats points to hardening and maturity across the network.
Over the past 12 months the hashrate of the bitcoin network has tripled, to over 650,000,000GH/s. User growth across core services has been impressive.
According to publicly available data, there are now over 10 million bitcoin wallets. Perhaps the most informative statistic of all is the transaction volume: the number of transactions has also grown impressively, from roughly 80,000 a day to more than 200,000 without showing any signs of slowing."

Those wallets can also be multiple wallets for one person.  How could we ever get an accurate user count of "anonymous" users?

A rough estimation for real or unique users would be like 40-50% of the total number.however the exchanges already know the details or multi accounts but they won't make it public.
i would say if it goes to 20 million in this whole new year from 600k (what it is today) could be more than enough.

Also, think about how many brand new users set up an online wallet or download one and lose interest when they find out it is not a true get rich quick solution.

But it doesn't has any significant affects cause it gets mixed with the other new people who get inn.The average would certainly go lower and lower as the total number of users increase and start investing their money or time.

I am not trying to say anything bad or argue, just making a few small points about the system.
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January 04, 2016, 07:10:12 AM
 #23

We could reach 100 million wallets in 2016, but will never know how many are the people behind. For example only I have at least 9-10 different wallets. Offline and online Smiley

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n2004al
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January 05, 2016, 05:23:17 PM
 #24

"Like with VoIP, global adoption of bitcoin and blockchain technology will take time. But it’s already happening. It will be in the background, but just as ‘communications’ now is a part of many apps – from Facebook to call centres, so will transactions powered by blockchain be more and more prevalent.
Despite our lack of progress, we have something precious. Anecdotally, I can’t think of a single other back-end system that has been online for seven years without a glitch, running 24 hours a day, seven days a week, 365 days a year. The bitcoin blockchain has proven its resilience. In fact, a quick review of some stats points to hardening and maturity across the network.
Over the past 12 months the hashrate of the bitcoin network has tripled, to over 650,000,000GH/s. User growth across core services has been impressive.
According to publicly available data, there are now over 10 million bitcoin wallets. Perhaps the most informative statistic of all is the transaction volume: the number of transactions has also grown impressively, from roughly 80,000 a day to more than 200,000 without showing any signs of slowing."

I have read all these data. Have some things to comment before telling the main aim of this my post. What have to do the increase of hashrate with the number of the users. Everyone know that ever mining hardware become obsolete very fast and the miner who use it will be obligated to do an upgrade for sure if want to continue to mine. So the increase of hashrate can be mostly became from the upgrades of the mining hardware of the old users and not from the newbies. Even if would be some newbie who will have the curiosity or the courage to mine may be very rare. No new arrived in the world of bitcoin will want to spend 5 000 or more us dollar to buy a mining hardware. For more when nothing e sure in mining. Everyone can have loss and not earnings.

As for the number of wallets almost all the bitcoiners have at least two wallets. To not tell even three. So that impressive number of overall wallets don't show the number of the real people who use bitcoin.

The same with the number of transactions. It is true that can give an indirect data about the increase of number of users but cannot be never possible that the increase is only from the new arrivals. Even, I can told that mainly become from the old ones. They are more connected with the world in which can be used the bitcoin and know better how to move in this "new world". The new ones need time to adapt.

But let suppose that everything written above by me is not true and are true all told by OP (and here we are with the aim of this post). From which of the data given by OP can be deducted that the number of users of bitcoin this year will arrive 100 million. This is what I want to know...
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