Bitcoin Users Double Every 12 Months

[audaciousbeing]

Its good to know that someone somewhere is actually keeping records of this and showing us how things are going. However, based on the current report and future projections, I don't see the trend kept up to date because as we move on with the popularity of bitcoin, I see us getting stuck at some point and this will mean that the population of the world that falls in the category of the older citizens, uneducated citizens and even those who will be shut out as a result of issues not their own fault such as war, unable to access the internet or the banning of bitcoin by respective countries etc. With all this put together we might not get to the point where almost all people in the world will use bitcoin.

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[LoyceV]

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.

With a fixed block size, this implies the number of transactions per user halves 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.

So based on this statement, in 26 years we'll have 2^26=67 million times more users. Earth has 7.6 billion people. This statement would put the current number of Bitcoin users at 113, so unless we're all own 10,000 accounts on this forum, you're wrong!

But Willy Woo didn't say this, cryptocoinsnews made this up. The source article shows:

There’s expected to be 10 billion people on this planet. If we take 10 million as the active user count of Bitcoin today, there’s 1000x of growth to go. That would take 10 years to get 100%. But in the real world all adoption curves follow an S.

That's where the 26 years comes from, a slowing S-curve instead of continuing at the same pace for eternity. As long as the number of users grows exponentially, the price will keep climbing at a high rate too. It'll be interesting to see what happens to the price when the number of users can't grow exponentially anymore.

Assuming every person on earth uses Bitcoin, that means there's less than 0.003 BTC per person! The price will be insane if that happens. If you add the effect of the 1% that owns 99%, the majority of users will own less than 3000 Satoshi.

[Adbitco]

That's a good news for all of us bitcoin enthusiasts. That is certainly going to make bitcoin a global digital currency and the prices of it are going to be the highest of anything else in the world I guess but still I think bitcoin has a long way to go as there are still other things which haven't reached each and every part of the world like the internet. Apart from that bitcoin itself needs lots of improvement for it to be feasible and viable to be used by everyone in the world. At present we can only hope that along with the increase in bitcoin adoption and acceptance efforts are also made to make bitcoin a worth using digital currency with less or no transaction fee etc.

[stayeduptolate]

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/

Bitcoin has really progressed since it had started. It is becoming more and more popular to people of not only young generations, but middle and old aged generations also. All this popularity has lead to increase in usage of bitcoin intensively. The main reason for bitcoin to get this popularity and usage is the simple fact that bitcoin helps make people rich. Since there are many ways one can earn bitcoin. Also bitcoin is a global form of currency so one can use it anywhere in the world without the hassle of currency exchange. There are easy and fast transactions. Most importantly bitcoin is totally secure so people don’t have to worry about there money getting stolen. So these all are the main reasons for double the users of bitcoin.

[bitalive]

that is encouraging and motivating! Well, investing in Bitcoin is always my favorite as Bitcoin Investment pays a good profit.

[ekoice]

Its true that the adoption rate of bitcoin is increasing very high through out the world.More people are getting aware of bitcoin day by day.Its price almost increasing nine times within a year has attracted more people's attention towards it.It was just $650 an year ago and now its price is $5,700.IN today's situation,we could not expect such huge returns from any other assets or stocks.

If bigger countries like india legalizes bitcoin,then surely bitcoin users would even triple in every twelve months.

[neurotypical]

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/

The question is, what happens once we reach 2018 and that ascending triangle top is reached? will we see a mega pump of several thousand dollars?

If bitcoin has to become what satoshi predicted, it would need to keep increasing at an exponential rate. We have reputed analyists like Trace Mayers predicting $27,000 in 4 months, as a non-aggressive prediction:



Im very excited for the next 4 months myself. This is a key moment in history of bitcoin. The segwit2x is a big challenge, but im confident we are going to end up stronger and we will see a massive bull rally of exponential growth as predicted there.

Look at 2x futures and you will see how we are going to smash the forkers:

[SvenBomvolen]

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

That is one of the greatest idea of Satoshi Nakamoto and so simple as 1 2 3!
The demand is working on Bitcoin today, the number of users is raising the price and the high price attract more and more users. It's just a circus which works perfectly. We easy may call Bitcoin as the thing which made itself itself!

[rocketbits]

Its good to know that someone somewhere is actually keeping records of this and showing us how things are going. However, based on the current report and future projections, I don't see the trend kept up to date because as we move on with the popularity of bitcoin, I see us getting stuck at some point and this will mean that the population of the world that falls in the category of the older citizens, uneducated citizens and even those who will be shut out as a result of issues not their own fault such as war, unable to access the internet or the banning of bitcoin by respective countries etc. With all this put together we might not get to the point where almost all people in the world will use bitcoin.

So for me it is true that the income with the bitcoin is increasing more and more because I like the value of eh bitcoin as the main source of income, I hold the bitcoin for the profit and I have earn the huge bitcoin just by trying the bitcoin and then making the profit from it, I love to be the bitcoin part and the income of the bitcoin because it is going to be the double of the invested amount.

[clrpod]

It's a really interesting finding but it is unrealistic for bitcoin users to continue to grow at the same rate for a long and consistent period. It is likely there will be major spikes in use as Bitcoin has big breakthroughs but eventually growth will inevitably slow to a much more minimal rate.

[mastica]

Im not surprised if into the next year this numbers will be even bigger, sure double every 12 months sounds amazing but its like a limit something crypto hasnt since the begining, as the price of bitcoin and others strong currencies keeps growing we will see more and more people getting involved with crypto world, there is no way to ignore the potencial forever.

[ReLieD]

This thing might not be true after few years . Like now it is fine to say double but after couple of years when the whole world will be using Bitcoin at that time you can't use the term double. Also there must be enough Bitcoin mined for such a bunch of people.

[Harlot]

It is really hard to have an accurate forecast about something with that kind of time frame, I mean 26 years is really a long time by that time I think that there are many cryptocurrency in the market and everyone or mostly will be knowledgeable not only in Bitcoin but also in other cryptocurrencies. Also Bitcoin doubling in value in every 12 months is not an accurate statement as you will see in the prices of last year it barely reached the 1000$ price range, but doubling your money is a more right term as trader have more than double their money by that technique.

[ibrohim]

it is such a good news that we know that many people are interested in bitcoin. I think it can influence the bitcoin development in terms of price and promoting coins or others. I predict that next year the numbers of bitcoin users will increase. moreover after they know that bitcoin give us many advantages.

[hero1111]

Bitcoin users are getting more day by day it is really good news and i think this is the beginning and i know so many people dont know about bitcoin  and they dont know what can they do with bitcoin  but day by day they will learn about bitcoin and  i know , the all world will use bitcoin one day and bitcoin will money of future.