Bitcoin Forum
December 03, 2016, 01:54:00 PM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: 10% of BTC are moving around every day  (Read 1272 times)
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 21, 2011, 04:22:21 AM
 #1

Interesting statistics from BitcoinWatch.com

Total Bitcoins: 6.8m
Bitcoins sent last 24h: 621,000

This means almost 10% of all Bitcoins in existence are moving around every day! (unless this figure is abnormal?)  Likely the majority is just people moving coins around between wallets, but it does indicate a very active and dynamic environment, no?

Remember also that simple day trading at an exchange is not going to show up here, because the coins aren't really moving around, it's only ledger notations within Mt.Gox or Tradehill, etc.

Interesting?


1480773240
Hero Member
*
Offline Offline

Posts: 1480773240

View Profile Personal Message (Offline)

Ignore
1480773240
Reply with quote  #2

1480773240
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480773240
Hero Member
*
Offline Offline

Posts: 1480773240

View Profile Personal Message (Offline)

Ignore
1480773240
Reply with quote  #2

1480773240
Report to moderator
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
July 21, 2011, 04:28:17 AM
 #2


Interesting?


No, every time I make a .04 donation to bitcoinporn.tumblr it reads 200 coins moving because I'm that rich and that's my change.

Bitcoin watch should take that stat down because it doesn't mean anything other than "Maybe there was more movement today or maybe someone with a 10k address made 200 payments"

Also 6.8m is not 10% it's about all of them.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
July 21, 2011, 04:30:02 AM
 #3

Does this take into account the change that is sent with each transaction? For example, I have 50 bitcoin in an account, I send .001 to you, the transaction shows up as .001 going to your address and 49.999 going to another one of my addresses. Would that add 50 to the total transactions, or just .001?

It can't differentiate change. Really there is no such thing as "change" you are just making a payment from 1 address to 2 addresses 1 of which you happen to control, maybe. Or maybe you used SendMany and paid two employees at once.

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
static
Jr. Member
*
Offline Offline

Activity: 56


View Profile
July 21, 2011, 04:38:21 AM
 #4

Interesting statistics from BitcoinWatch.com

Total Bitcoins: 6.8m
Bitcoins sent last 24h: 621,000

This means almost 10% of all Bitcoins in existence are moving around every day! (unless this figure is abnormal?)  Likely the majority is just people moving coins around between wallets, but it does indicate a very active and dynamic environment, no?

Remember also that simple day trading at an exchange is not going to show up here, because the coins aren't really moving around, it's only ledger notations within Mt.Gox or Tradehill, etc.

Interesting?






cool story...
Serge
Legendary
*
Offline Offline

Activity: 1050


View Profile
July 21, 2011, 05:02:37 AM
 #5

it's not abnormal, yesterday or the other day i sow 2.8M
evoorhees
Legendary
*
Offline Offline

Activity: 994


Democracy is the original 51% attack


View Profile
July 21, 2011, 05:23:43 AM
 #6


Also 6.8m is not 10% it's about all of them.

Maybe you misread? The 621k number is roughly 10% of the total bitcoins in existence (6.8m).
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!