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Author Topic: How Many Bitcoin Transactions are <$100  (Read 4099 times)
BellaBitBit
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April 04, 2016, 05:54:41 PM
 #21

-snip-
Why would you want to track only the transaction <$100 ?

Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.

I am curious too and am interested in the micro payment part of it.  From comments above it would be difficult to determine the amounts. 

I love Bitcoin
shorena
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April 04, 2016, 08:54:18 PM
 #22

-snip-
Why would you want to track only the transaction <$100 ?

Probably as an argument for or against micro payments. Payments over 100 USD are certainly not micro payments, thus an answer to the question could be an argument in a discussion.

I am curious too and am interested in the micro payment part of it.  From comments above it would be difficult to determine the amounts. 

Not really

#1 take prices from e.g. bitcoinaverage[1]
#2 start with block 1 (or any other you find more interesting, maybe Jan 2011) and itterate until you are at the current (or any other interesting, maybe Jan 2016) block
#3 determine day for blocktime
#4 calculate 100 USD bitcoin value for that day (you can also precalculate a btc value based on the pricelist in #1)
#5 itterate over all TX for the given block and filter for TX that match your criteria

[1] https://api.bitcoinaverage.com/history/USD/per_day_all_time_history.csv

Im not really here, its just your imagination.
DuddlyDoRight
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April 04, 2016, 10:37:47 PM
 #23

I could write a JS iframe scraper for this in about an hour and probably have results in about eight hours unless I had to do long timeouts do to anti-DDOS.

What good is the stat though? I've done a lot of <$100 transactions myself.

I have faith that one day this forum will get threads where people won't just repeat their previous posts or what others have already stated in the same thread. Also that people will stop acting like BTC is toy-money and start holding vendors accountable. Naive? Maybe.
bob123
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April 15, 2016, 08:40:59 AM
 #24

Even Transactions with 300$ in them can just be used to pay 1$ and get 299$ as change

skroy
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April 16, 2016, 05:21:06 AM
 #25

Good this post.thanks
mwizard
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April 18, 2016, 05:38:49 AM
 #26

The entire issue of the value of the transactions done by Bitcoin is clouded by the transaction used to return change. This makes it almost impossible to know exactly how many Bitcoins are really being transacted.

For example if you have 100 dollars in Bitcoin and send one dollars worth to 100 people as separate transaction it will show as a total of 5,050 dollars having being transacted ($1 plus 99$ change, 1$ plus $98 change and so on).

Another example.  The https://blockchain.info/charts site gives around 2-3 million Bitcoins moving each day.  They then attempt an algorithm to remove the change transactions and the number of Bitcoins falls by a factor of 10 to 200-300,000 Bitcoins moved per day.
cpfreeplz
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April 23, 2016, 02:42:04 PM
 #27

I'm curious to know how many bitcoin transactions processed are less than say $100 USD. Can anyone help me out?

This is way too complicated to calculate and it's ever changing. I'd suggest doing a little more research on the subject rather than asking us to do your thinking for you.
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April 23, 2016, 10:34:24 PM
 #28

I myself have made plenty of transactions in the last year or two. Not one single one was above the $100 mark. I'd guess most were somewhere in the $30-50 range, either moving sig payments or buying stuff.
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