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Author Topic: Sudden rise in Bitcoin transaction numbers - any theories why?  (Read 5988 times)
BTCurious
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August 14, 2013, 08:04:04 AM
 #21

Simple: The stability.

Stability makes Bitcoin not look like a Ponzi-scheme. Stability makes Bitcoin look like a viable currency. Stability reduces the chance of monetary loss.

As a result, more amounts of Bitcoins are being bought from many more different people, and spent.
So yeah, stability makes the price rise, destroying stability Cheesy

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The forum strives to allow free discussion of any ideas. All policies are built around this principle. This doesn't mean you can post garbage, though: posts should actually contain ideas, and these ideas should be argued reasonably.
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Hfleer
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August 14, 2013, 09:46:31 AM
 #22


After a steady decline since the bubble-burst he overall transaction count has also climbed fast in recent days to 50,000 per day from a period of 35-40,000:
http://blockchain.info/charts/n-transactions?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Blockchain's wallet service also sees a recent increase:
http://blockchain.info/charts/my-wallet-n-tx?showDataPoints=false&timespan=&show_header=true&daysAverageString=7&scale=0&address=

Do you think this a reflection of real-world business increasing usage of bitcoin? Perhaps also from an uplift in Argentina, India and Kenya...?
Some hundreds of transactions are spam-like: large BTC amounts being moved pointlessly back and forward, but I am not sure this is a major factor.

Ideas?



Thanks for posting haven't looked at this chart in a while.  Maybe the growing number of faucets and stocks could be playing a part as well.

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▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
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August 14, 2013, 07:24:07 PM
 #23

Simple: The stability.

Stability makes Bitcoin not look like a Ponzi-scheme. Stability makes Bitcoin look like a viable currency. Stability reduces the chance of monetary loss.

As a result, more amounts of Bitcoins are being bought from many more different people, and spent.
So yeah, stability makes the price rise, destroying stability Cheesy

Nope. Buying does not necessarily increase the prices.

If person A is selling 1 BTC for $100

And person B buys 1 BTC for $100

The price will not change

The price will only change if both

I  ) Sellers sell for higher prices
II ) Buyers are willing to buy for higher prices

And more importantly, if a greater amount of users come and they each buy less, the price will also not rise. If a few people buy a ton, the price will probably rise.
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August 17, 2013, 12:33:51 AM
 #24

Yesterday saw an all time high for the number of daily Bitcoin transactions: 72,278 (as measured by Blockchain.info).
https://blockchain.info/charts/n-transactions

The gambling site BetCoin seems to have a high volume lately, however, the record number of current news items, over 110,000 picked up by Google News, indicates a sustained level of real-world interest which must be driving some extra usage.



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August 17, 2013, 12:37:33 AM
 #25

Well Russia Today had a positive article for bitcoin but not sure of the impact

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August 17, 2013, 12:56:23 PM
 #26

Well Russia Today had a positive article for bitcoin but not sure of the impact

Can you provide a link?  How popular is the newspaper in question?

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▓▓▓▓▓  BIT-X.comvvvvvvvvvvvvvvi
→ CREATE ACCOUNT 
▓▓▓▓▓
█████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████████
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August 17, 2013, 03:40:34 PM
 #27

Simple: The stability.

Stability makes Bitcoin not look like a Ponzi-scheme. Stability makes Bitcoin look like a viable currency. Stability reduces the chance of monetary loss.

As a result, more amounts of Bitcoins are being bought from many more different people, and spent.
So yeah, stability makes the price rise, destroying stability Cheesy

Before the bubble it was a common scenario for stability to be fuel for the rocket.

First seastead company actually selling sea homes: Ocean Builders https://ocean.builders  Of course we accept bitcoin.
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August 17, 2013, 04:30:49 PM
 #28

Well Russia Today had a positive article for bitcoin but not sure of the impact

Can you provide a link?  How popular is the newspaper in question?

https://bitcointalk.org/index.php?topic=276452.0;topicseen

 On a sidenote watch rt now and then and you may see a bitcoin discussion
Popularity high

Believing in Bitcoins and it's ability to change the world
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