Statistics about cryptocurrency used to buy goods

[AE]

Is there a graph witch shows how much goods are bought withe BTC and Altcoins. Would be interesting how high these values are. Every statistic about those values would be interesting for me.

[portotoi]

As far as I know, nothing yet. Peolpe are still buying goods through cash money and not BTC. Maybe in the future it may show a graph but this only shows during BTC analysis projects.

[mrcash02]

I think something like this doesn't exist. Most Bitcoin transactions are done informally, anonymously. We would need to wait an official site that is accepting Bitcoins show these statistics to us (like Steam, for an example).

So we could see how many of their customers and how much Bitcoins they are spending on the respectives platforms.

[dead_m92]

However, there is no graph that shows these statistics because they are very specific, but it is a very interesting fact for someone to make that graph as it would contribute a lot to the community. also you can realize by yourself that a lot of people are buying things and a lot of stuff with bitcoins, since there are so many people interested in buying this cryptocurrency to buy goods, and maybe this is why bitcoin is rising in price very quickly.

[Kingofbitcoin12345]

The reality is bitcoin is not intended to buy goods online but to hold for more profits.. And I highly doubt there is anyone at least trying to study or survey about it.. Even the numbers or statistics about bitcoin users,, country,, age and gender status or census is not even available..

[jtipt]

Is there a graph witch shows how much goods are bought withe BTC and Altcoins. Would be interesting how high these values are. Every statistic about those values would be interesting for me.

I think it's a bit hard to find such statistics, since most of websites don't disclose how a particular was purchased bought. Maybe a BTC payment processor like bitpay.com may have statistics as to how much transactions it has received, but it sill doesn't give what you require.

[HabBear]

This is a good question, but there aren't a lot of analytics on the spend of bitcoin. It's tough because transactions are anonymous...at least in what they are used for.

What we do know is how many bitcoin transactions occur across the blockchain on a daily (and therefore weekly, monthly) basis. You can take that volume as the gross amount and then discount it down based on what percentage you think is spent on goods and services.

Here's a link to the data I'm referring to: https://blockchain.info/charts

Make an educated assumption. When you find better information revise your assumption.

[malikusama]

Is there a graph witch shows how much goods are bought withe BTC and Altcoins. Would be interesting how high these values are. Every statistic about those values would be interesting for me.

I have never seen a graph which shows these statistics till now, indeed it is a good idea to find out the level of interest of people in bitcoin. We can only able to draw or find a graph if the online stores disclose their percentage of payment made through bitcoins for buying their products or services in a specific period of time.

[AE]

This is a good question, but there aren't a lot of analytics on the spend of bitcoin. It's tough because transactions are anonymous...at least in what they are used for.

What we do know is how many bitcoin transactions occur across the blockchain on a daily (and therefore weekly, monthly) basis. You can take that volume as the gross amount and then discount it down based on what percentage you think is spent on goods and services.

Here's a link to the data I'm referring to: https://blockchain.info/charts

Make an educated assumption. When you find better information revise your assumption.

I know this page, but I just was currious to see how many real-life goods are actually purchased with BTCs. This would be an indicator of real adoption, if BTC is meant to be a currency and not only a commodity like gold.

Does anybody know if there is at least some kind of graph that shows how many shops accept Bitcoins? It would be another good indicator for adoption.

Anyhow, thank you for your input.

[Coffee135]

Lots of talk about this but I think that no such statistics. All these transactions are not taxed and therefore not included in the statistics. Selling products with bitcoins is very important for the development of the market of bitcoins. Without this, bitcoin will never become a currency. Now bitcoin is more suitable for the definition of a bubble.

[aso118]

Is there a graph witch shows how much goods are bought withe BTC and Altcoins. Would be interesting how high these values are. Every statistic about those values would be interesting for me.

May be a Company like coinbase would be able to give details about how many merchants use their services and provide volume details. Other than that, it is difficult to get data. And it is a good thing that such data is not scrapable from the blockchain.

[Ararbermas]

I dont have idea if its already exist.. but For me that is a good idea to became easy to purchase any goods using bitcoin without converting bitcoin to real money. Maybe in neither country which is bitcoin is legal. Cause in the past days i saw some offer such as buying goods and free delivery through bitcoin .but I don't have any idea if its legit. Maybe a ponzi? i dont think so.

[Almat]

It would be great if we had accessible data. It's tempting to say that Bitcoin holders all just hoard them, but we see these merchants accepting Bitcoins, so there has to be some demand for it. I don't imagine it to be a large factor in their sales, but quite enough to warrant the additional work of setting up Bitcoin payment systems.

[Gozie51]

The point is, whether such graph exist or not I'm not sure but what I know is that in terms of purchase, cryptos are usually converted to bitcoin from then to paper money.

Again, even where there is a direct exchange of bitcoin for product, is usually informal. Informal, I mean either friends agreeing to exchange with friends for goods. This is like a parole contract ,which is by face to face sales not official.

[AE]

The point is, whether such graph exist or not I'm not sure but what I know is that in terms of purchase, cryptos are usually converted to bitcoin from then to paper money.

Again, even where there is a direct exchange of bitcoin for product, is usually informal. Informal, I mean either friends agreeing to exchange with friends for goods. This is like a parole contract ,which is by face to face sales not official.

Yeah, that is still the case, but if we reach a steady Bitcoin price, than this should be getting less a problem.

Thank you all for giving your opinion about that matter.

[Hydrogen]

Is there a graph witch shows how much goods are bought withe BTC and Altcoins. Would be interesting how high these values are. Every statistic about those values would be interesting for me.

The best method I know of is to poll crypto users and try to extrapolate in a meaningful way despite the extremely low sample size and exposure.

There are other options. Requests for information could be made to exchanges, amazon, coinbase, bitpay, gyft and other services linked to crypto good purchasing for a statistical data breakdown. There is a chance they might be willing to provide information. Although I can't claim to know what their privacy policy is for customers, how much it might cost. That type of information does seem to be for sale across a wide spectrum.

If you're specifically looking for a btc vs altcoin breakdown that could be extremely difficult as many altcoins are exchanged for btc before purchasing goods.

[MoonIsBlue]

I don't know of any graphs but for what its worth I do spend BTC on things like ordering food and products online.

[palle11]

This is a good question, but there aren't a lot of analytics on the spend of bitcoin. It's tough because transactions are anonymous...at least in what they are used for.

What we do know is how many bitcoin transactions occur across the blockchain on a daily (and therefore weekly, monthly) basis. You can take that volume as the gross amount and then discount it down based on what percentage you think is spent on goods and services.

Here's a link to the data I'm referring to: https://blockchain.info/charts

Make an educated assumption. When you find better information revise your assumption.

I know this page, but I just was currious to see how many real-life goods are actually purchased with BTCs. This would be an indicator of real adoption, if BTC is meant to be a currency and not only a commodity like gold.

Does anybody know if there is at least some kind of graph that shows how many shops accept Bitcoins? It would be another good indicator for adoption.

Anyhow, thank you for your input.

Yeah, if bitcoin is used for some of these purchases directly, it will speak more of its relevance and thereby increase its value more. It could even lead to more approval of its usage.

[AE]

I don't know of any graphs but for what its worth I do spend BTC on things like ordering food and products online.

Cool, what supplier do you use to order food online and pay with Bitcoins?

Where do you live?

[jaysabi]

It would be useful to know, but there's no way to centralize this type of information. We would be dependent on private merchants supplying information about how much goods/services they've traded for crypto. There's no way to look at blockchain and identify which transactions are of a business purpose as opposed to which transactions are attached to purely speculative intentions. People can call Bitcoin a currency all they want, but it's just not going to get there. It's a speculative asset, and it's used to gamble or attempt to enrich yourself by trading in and out of fiat to realize gains. And any vehicle like that has actual currency-use stacked against it.