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Author Topic: actual number of people using Bitcoin?  (Read 60151 times)
betohell
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November 06, 2016, 09:44:24 AM
 #661

No one can tell the actual number of people who uses Bitcoin!
First of all, Bitcoin is being use anonymously. Second, it is decentralized so there is no accurate information for the total number of users. Third, many people has duplicate wallets in different wallet providers so again, the data might be inaccurate if you will based on the number of wallets created. And lastly, there are lots of new Bitcoin users everyday so the number continuously increasing!
which makes bitcoin users can not be calculated, I think not only decentralized and anonymous itself, I think all things can not be calculated with certainty, even you will not be able to calculate the total dollar users right ?

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November 06, 2016, 10:12:52 AM
 #662

To calculate the exact number of people using bitcoin, we must have to do a wide analyze in many regions. In fact, it is hard to know the correct number because there will be people who are not willing to admit that they are using bitcoin. Why ? Because bitcoin was designed to be used in anonymous and without being tracked by government or even hackers.





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Aamir1
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November 06, 2016, 11:21:09 AM
 #663

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.

Some users even have more than 10 bitcoin wallet which completely makes it illogical to do any estimation of bitcoin users counting the number of wallets created in a year, there would hardly be a person with just 1 or 2 wallets right now in the community.
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November 06, 2016, 11:41:03 AM
 #664

It may be hard to find something like that. Bitcoin population are not that easy to know because everyday the bitcoin population are always increasing. I think there would be a lot of works to crack that information because the bitcoin network is really broad.
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November 06, 2016, 11:46:12 AM
Last edit: November 06, 2016, 11:57:17 AM by ivanst776
 #665

Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.

If we calculate the total number of users in forums, exchanges and other places then the number will be really high.

But unfortunately this number does not represent the total number of people using bitcoin around the world.

I think that there are few millions people that use bitcoin, but the number can be increased if ebay, amazon will accept bitcoin.
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November 06, 2016, 11:49:10 AM
 #666

very difficult to guess the actual bitcoin users, since users always increases and decreases in each year. Well, bitcoin really give interest to users and to prospective consumer so many people are curious about bitcoin. well, so I guess more than hundreds of thousands of new people using bitcoin in every year
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November 06, 2016, 01:53:26 PM
 #667

very difficult to guess the actual bitcoin users, since users always increases and decreases in each year. Well, bitcoin really give interest to users and to prospective consumer so many people are curious about bitcoin. well, so I guess more than hundreds of thousands of new people using bitcoin in every year

As quoted by the above mate its really hard to predict the realistic number of bitcoin users but regularly the price increase is making more user profiles. Possibly over the falling years bitcoin users around the world is expected to reach 5 to 10% of the entire population.

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November 06, 2016, 02:01:07 PM
 #668

Many people are using more than one wallet so i doubt we will ever know the real number of users and many also have their bitcoins in cold storage and one exchanges so it is a difficult task to assess. Only thing we can know is the market cap I guess.


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November 06, 2016, 06:26:03 PM
 #669

No one can tell the actual number of people who uses Bitcoin!
First of all, Bitcoin is being use anonymously. Second, it is decentralized so there is no accurate information for the total number of users. Third, many people has duplicate wallets in different wallet providers so again, the data might be inaccurate if you will based on the number of wallets created. And lastly, there are lots of new Bitcoin users everyday so the number continuously increasing!
yes that is a fact that it is not an easy job that what is the actual number of bitcoin user, but to me as the price is increasing on daily basis therefore its users may be still increasing, hope that the trend will continue for a long time.
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November 06, 2016, 06:43:22 PM
 #670

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
Yes, it is true that one person uses a few wallets. However, I use only one and people I know also use one per person. Moreover, I've seen the opposite situations in which 4-5 people used one wallet, so it means that maybe we should say that approximately there is one user per wallet. Threfore, there are about 10 mil btc users around the world.

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November 06, 2016, 07:42:28 PM
 #671

Actual number of people using Bitcoin is unknown.There may be two million people who use Bitcoins now and it will go much high in future.
Ewinsane
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November 06, 2016, 09:40:56 PM
 #672

the number of bitcoin user is very high and i think it is uncountable and i think bitcoin users is very high because bitcoin is very famous currency and a huge number of people are using bitcoin for online shopping and some people using bitcoin in their business so its impossible to count that the actual number of bitcoin users.
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November 06, 2016, 10:16:27 PM
 #673

the number of bitcoin user is very high and i think it is uncountable and i think bitcoin users is very high because bitcoin is very famous currency and a huge number of people are using bitcoin for online shopping and some people using bitcoin in their business so its impossible to count that the actual number of bitcoin users.
bitcoin users certainly will not be counted but maybe we can guess the user's total bitcoin, it would be different but might be able to describe, probably bitcoin users reached 10 million users
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November 06, 2016, 10:19:20 PM
 #674

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
But we cannot rely on the number of created wallets for to find the number of bitcoin users as no one know that how much wallets a person have there are chances that a person will have more than 2 or 3 wallets and there is also chances that a person will have only one wallet so it is not a relying way to find it.
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November 07, 2016, 01:50:03 AM
 #675

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
Provide the links to your data, about the average total number of the wallet, are using by bitcoiners are need more researchers and taking some sample of bitcoiners.
In this article you will find info about number of bitcoin wallet in existence. http://www.coindesk.com/2016-bitcoin-challenge-100-million-users/

According to the data from the beginning of this year there are now over 10 million bitcoin wallets.

You have to be clear, are you talking about empty wallets (with zero transactions), or wallets with a balance, or wallets that had a balance but are empty now?
We can't tell, article I quoted was unclear on this.

Don't forget that the largest exchanges have tens of thousands of addresses just belonging to them. And that's with one exchange. And as you know, there are plenty. Then we have online wallet services, mixers, gambling sites, faucet sites, etc. The far majority of these wallets do belong to one of these services.
And it exactly proves my point that there are usually multiple wallet created under control of one owner. So the number of wallets can't be definitive factor when estimating number of bitcoiners.


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November 07, 2016, 02:31:11 AM
 #676

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
But we cannot rely on the number of created wallets for to find the number of bitcoin users as no one know that how much wallets a person have there are chances that a person will have more than 2 or 3 wallets and there is also chances that a person will have only one wallet so it is not a relying way to find it.

Yeah. We can't really tell the accurate number of people using bitcoins by just looking on the number of bitcoins wallets. For a reason that a certain person might be using multiple wallets and we cannot tell whether how many wallets that same person do actually have. So, I agree that we can't count the actual number of bitcoin users by just relying on the number of bitcoin wallets being created.
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November 07, 2016, 06:06:53 AM
 #677

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
But we cannot rely on the number of created wallets for to find the number of bitcoin users as no one know that how much wallets a person have there are chances that a person will have more than 2 or 3 wallets and there is also chances that a person will have only one wallet so it is not a relying way to find it.

Yeah. We can't really tell the accurate number of people using bitcoins by just looking on the number of bitcoins wallets. For a reason that a certain person might be using multiple wallets and we cannot tell whether how many wallets that same person do actually have. So, I agree that we can't count the actual number of bitcoin users by just relying on the number of bitcoin wallets being created.
There is no devices that can calculate the exact number of people using bitcoin because a lot of users having multiple bitcoin wallet and on that you will be incorrect if you will be base on the bitcoin wallet of each users.
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November 07, 2016, 08:05:31 AM
 #678

According to the data from the beginning of this year there are now over 10 million bitcoin wallets. I would rather assume that 1 bitcoiner might be using 2 or more wallets.
For example online wallet for quick access and fast transactions and full validation software wallet as main wallet.
With bitcoin wallets being free and easy to create, it is illogical to think that multiple users are sharing control over one wallet.
But we cannot rely on the number of created wallets for to find the number of bitcoin users as no one know that how much wallets a person have there are chances that a person will have more than 2 or 3 wallets and there is also chances that a person will have only one wallet so it is not a relying way to find it.

Yeah. We can't really tell the accurate number of people using bitcoins by just looking on the number of bitcoins wallets. For a reason that a certain person might be using multiple wallets and we cannot tell whether how many wallets that same person do actually have. So, I agree that we can't count the actual number of bitcoin users by just relying on the number of bitcoin wallets being created.
There is no devices that can calculate the exact number of people using bitcoin because a lot of users having multiple bitcoin wallet and on that you will be incorrect if you will be base on the bitcoin wallet of each users.
Exactly, therefore what we can do now is just to make the right estimate and I have a good estimate of the total number of users and I believe based on what I see and read on the recent news of bitcoin, we are growing in numbers and that is consistently happening which makes the price rise as well.

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Lecam
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November 07, 2016, 08:21:15 AM
 #679

Is there a way to determine the number of people who are actually using Bitcoin till date? Who would have access to such information? Meaning a way to find out, how many new people have used Bitcoin in 2016 , so that we can say exponential growth is natural not artificially created by hoarders.
There is no way to determine the number of people using bitcoin. Maybe a million of people using bitcoin from 2009- 2016. But that is am not sure bitcoin become popupar and many people use it.
carriebee
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November 07, 2016, 12:08:55 PM
 #680

Its very hard to predict on how many people are using BTC. More and more getting into this forum, earning and utilizing the btc earned. Many merchants have started accepting bitcoins. So the currency is being rotated more other like before. My prediction would be it has become 5 times bigger than what we had 2 years back. 

I agree with you, we could not count the actual number of people who uses bitcoin.
Here in my country bitcoin is not yet all people knew bitcoin.  But as time passed by
people could easily understand the bitcoin and its process.
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