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Author Topic: Question to all economists - Whats the "actual" major usage of Bitcoin today?  (Read 698 times)
Salazarian
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November 15, 2013, 10:09:26 PM
 #1

Hi all,

for a hobby research I want to know or find theoretical information about the average amount of the transaction's purposes in %! Of course there won't be a lot of information, Bitcoin is designed for its anonymity.... Wink

For what kind of transactions are bitcoins used? What does the majority of the transactions make?

What do you think and if you can provide more information this would be pretty nice!! Smiley

My basic thoughts where following:

When I mine, I encrypt and check "one" random transaction! For each encryption there is a transaction but whats this transaction's purpose?
Why do I want to know that?

I really want to know for what bitcoin is atm used right now!
I might think that major transactions go up on exchange sites like MT.Gox, bitcoin.de and more!
What about criminal transactions like transactions for drugs, hacking and etc. ? How much % COULD they make? Is Bitcoin atm used for neutral to good things or vice versa?

Since a miner does not know the transaction's purpose and its definetly clear, the miner encrypts and checks transaction even for things for which I would not like to encrypt and check. This is technically impossible of course!

Whats the major usage? Drugs , exhange, or noncriminal services? Does anyone have great information there? Smiley

NOTE: Its not ABOUT the amount of bitcoins used! Its about the amount of transaction's purpose

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DeathAndTaxes
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November 15, 2013, 10:10:53 PM
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There is no encryption in either mining or validating transactions.
Salazarian
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November 15, 2013, 10:19:17 PM
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There is no encryption in either mining or validating transactions.

my fault of explaining but does not change the question about validating!

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November 15, 2013, 10:33:15 PM
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As you pointed out Bitcoin is pseudo anonymous.  There are no stats about the purposes of private transactions for the obvious reasons.
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November 15, 2013, 10:34:11 PM
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As you pointed out Bitcoin is pseudo anonymous.  There are no stats about the purposes of private transactions for the obvious reasons.

I know its just about presumptions ^^

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November 16, 2013, 03:41:53 AM
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Presently the core use cases at a guess would be for gambling and buying miners

And increasingly for commerce, bitpay has good stats on this...


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