Bitcoin Users Double Every 12 Months

[krishnapramod]

Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, utilizing Google Trends as one of the main indicators of Bitcoin user growth recently revealed that the number of Bitcoin users approximately doubles every 12 months.

Woo noted in his report that 26 years from now, if the user base of Bitcoin continues to grow at this pace, nearly everyone in the world will use Bitcoin.

User Base: Major Factor For Long-Term Price Surge of Bitcoin

The Bitcoin price is a practical indicator of Bitcoin’s real-world value, relative to other assets and currencies. While many factors affect the Bitcoin price in varying periods, user base, developer activity, and global adoption have been the three key factors behind the long-term increase in the price of Bitcoin for the past eight years.

"What we have here is a steady exponential growth baseline with periodic peaks. These peaks are are inline with price bubbles where more users start checking the price of their precious coins. Taking readings from the baseline results in an order of magnitude growth every 3.375 years. Or expressed in terms of time to double the user base it’s approximately 12 months."

In the long run, if the adoption rate of Bitcoin in major regions such as the US, Japan and South Korea can be sustained, the market cap of Bitcoin would likely surpass that of JPMorgan, the largest retail bank in the world valued at $350 billion, and achieve the trillion dollar mark.

https://www.cryptocoinsnews.com/woos-law-bitcoin-users-double-every-12-months-major-factor-for-long-term-price-surge/

http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/

[Hartisinle]

Fixed number of bitcoin is the reason why  price high when many join to BTC world  you will have High Demand 

so  High Demand with fixed amount mean High price

[merchantofzeny]

Well, that is encouraging news. I know they only used search statistics but this really shows that more and more people are hearing about it. Most of the news channels I'm subbed to mention bitcoin every week or so.

[MissionPhailed]

My impression is that cryptocurrencies are now gradually 'infiltrating' the general society with indeed quite some coverage in the media in the last few months, at least here in Western Europe. At this point, nearly anyone has heard about BTC and some are diving into the cryptomarket with (too) large amounts of money. The days of crypto having a geeky and somewhat laughable image are now behind us.

[ophyrim]

Fixed number of bitcoin is the reason why  price high when many join to BTC world  you will have High Demand 

so  High Demand with fixed amount mean High price

Yea that's why many people invest some amount to bitcoin,
That's why bitcoin is one of the best investment instrument
That's why some big money boss try to attack bitcoin
That's why the price is rising
And that's why the rise of the price will continue.

[andrew24p]

I read the article on this and I am going to have to call bullshit. Its really hard to tell the amount of users or even just daily active users and in addition how much they actually own. The statistic could be right, but the amount of people who make accounts and decide to not buy or disappear is still very high.

[BingoDog]

The number of bitcoin users is constantly rising that is true but somehow I have the feeling that the new users are less educated about bitcoins and don't know how it's really functioning. That is the reason why we see so many panic selling and bad decisions although the higher number of bitcoin users is in fact the good thing. Just that they should look a bit deeper under the surface.

[vaughn125]

Wow, thanks for this valuabke information op.

This really is such a great new to all.of.us here who love crypto.currencies. Because this means that we are getting closer and closer to seeing bitcoins and all the other cryoto.currencies beimg widely used all.over the world. This also means that demands will.increase. Resulting in great price rise for bitcoins and all other altcoins present by that time. This surely is a big steo forward for the crypto world. It will only he a matter of time till this happens so better save as much crypto currency as we can.

[nidacoinlove]

This is good to know as such news are interesting and motivating to the new adopters of bitcoin and especially to those it is more attractive who want to invest in bitcoin. Good news like this have a great impression on the people to push them to cryptocurrency and believe in the cryptocurrency and of course in the bitcoin. These are reality based statistical news which shows that how much are people taking internet in the bitcoin.

[LeoEspansq]

This is good to know as such news are interesting and motivating to the new adopters of bitcoin and especially to those it is more attractive who want to invest in bitcoin. Good news like this have a great impression on the people to push them to cryptocurrency and believe in the cryptocurrency and of course in the bitcoin. These are reality based statistical news which shows that how much are people taking internet in the bitcoin.

I'm sure that users are even more than statistics show. Many hidden users. But you can definitely say one thing: bitcoin is becoming more popular every year. I think that this makes bitcoin expensive

[trobin]

It is interesting to see the current trends, but I think eventually it will slow, there is very little chance IMO that bitcoin will be used by everyone within the time frame suggested. Eventually the growth will plateau

[EcoChavCrypto]

And those statics will probably be increasing in the next year, bitcoin is rising a lot because a lot of people have been buying bitcoins in the last four months. Just go to July charts, you will see that bitcoin was around $2400 (ath) and the whole marketcap has been doubled until now.
And you can see that this is because a lot of people have been investing lately, and there are going to be more users before the end of this year, or the next.

[aso118]

Willy Woo, a highly regarded Bitcoin and cryptocurrency researcher, utilizing Google Trends as one of the main indicators of Bitcoin user growth recently revealed that the number of Bitcoin users approximately doubles every 12 months.

Woo noted in his report that 26 years from now, if the user base of Bitcoin continues to grow at this pace, nearly everyone in the world will use Bitcoin.

http://woobull.com/woos-law-of-bitcoin-user-growth-bitcoins-adoption-curve/

Well, if the user base of Bitcoin continues to grow at this pace, what happens in 27 years? So the answer is, it won't continue to grow at this pace. This high growth is due to the effect of a small base. It will eventually taper out.

[bitcoin31]

So if the number of user every 12 months increasing become souble this is good for bitcoin and for us why? Because if they have many user for sure those user will invest to bitcoin so the will increase and everyone will benefits to the result because if the price increasing you will earn a lot of profit because you have bitcoin. I hope many user in the next few months will imvest to bitcoin.

[radjie]

Gradually the use of bitcoin will increase in number. People are starting to recognize the digital currency because there is a lot of news that investing in bitcoin can make a person's economy better than ever. Most likely people will rely on bitcoin as their income to earn money. In the following years I believe everyone can benefit from the use of bitcoin.

[Pearls Before Swine]

Speculators, all speculators.  I'd be interested to find out how much the real bitcoin-for-goods
transactions are growin.  I think if transactions are going up, it's because people are buying
and holding, or trading in the altcoin markets.  There's a lot of new money coming in, which
is why the price has shot to the moon lately, but I highly doubt these people are passionate
about crypto.  They just want to make a fast buck and get out.

[tomahawk9]

Great news for bitcoin and the cryptocurrency community, but i wonder how much of those users are speculators. I would like to see how much the growth of transactions for for goods bought with bitcoin has been against goods you buy with fiat. That would tell me if bitcoin is being accepted around the world a lot more every 12 months. Then we can talk about it's growth in the next decade.

[Hydrogen]

Good post OP. Thanks for posting this.

Rising demand and exponential growth of btc's user base are some of the main factors which prevent bitcoin from accurately being labeled a bubble. In order to maintain the increase of bitcoin's value, there must be some underlying fundamentals which are growing at a similar pace to justify the increase in valuation. This serves as a legitimate counter to kneejerk reactionary analysts who claim "bitcoin is a bubble" without addressing the underlying metrics.

Like Ben Bernanke said in years past to dispute claims of a housing bubble: "the fundamentals of the economy are strong".

The fundamentals of the bitcoin economy are definitely much stronger than the fundamentals Ben Bernanke talked about back then.

[SaShiRaJaVu]

The user base is increasing as time passes by as more new people are getting hooked in to the crypto currency platform and i am not sure about the legitimacy of the study and what are the conditions they have taken to make this statement valid is yet to be proved and what ever it may be i am interested to see more people coming into bitcoin.

[Dexion]

this is very interesting ,, if the number of users every 12 months increases, that's a very good thing, because there will be more people who invest in bitcoin, so the bitcoin value in the next time will be higher, the more rare, but more and more users, then the bitcoin value will be more expensive ,,