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Author Topic: Total volume graph  (Read 1729 times)
schnak
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February 18, 2011, 06:45:58 PM
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I've looked for (and cant find) a graph that shows how much BTC is flowing from point to point. since all transactions are public this data could be gathered by analyzing each block and taking a sum total of amounts moved.

The data may not have much impact on market analysis but would be interesting form a 'lets make bitcoin more popular' stance. just to see how much is moving around.

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comboy
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February 18, 2011, 06:56:34 PM
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It's pointless. It can only fool people. You can look at random number generator output instead.

(you can take a look at http://blockexplorer.com/)

Variance is a bitch!
schnak
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February 18, 2011, 07:24:19 PM
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As I said, the data would not have any direct market impact but would be divided by a given currency to see the net traffic of coins on the system. something fo rthe founders and devs to be able to point and say "Look its being used more often."
now just gotta copy/parse data from the explorer.

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comboy
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February 18, 2011, 08:01:01 PM
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But you understand that if I move bitcoins between my wallets you may think somebody is trading bitcoins? If such graph exists and becomes popular, I would possibly write a script to move bitcoins between fresh wallets every day, because well, I want bitcoin to become popular, so it's good thing when people think it is used more and more often Wink That's why I think such graph is useless.

Variance is a bitch!
schnak
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February 18, 2011, 08:32:16 PM
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point. Undecided

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TheHoboHarvester
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February 18, 2011, 11:35:37 PM
 #6

While an overall bitcoin chart would be useless since people do transfer money between their own wallets quiet often, a trade-specific chart such as https://mtgox.com/trade/history may do you some good.
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February 21, 2011, 11:40:52 PM
 #7

I've looked for (and cant find) a graph that shows how much BTC is flowing from point to point. since all transactions are public this data could be gathered by analyzing each block and taking a sum total of amounts moved.

http://www.bitcoinmania.com has transaction counts, and
http://earney.homedns.org/cgi-bin/page.py?type=spent has transaction volume

But consider situations like this:  Each time 0.05 is spent from the Bitcoin Faucet, http://freebitcoins.appspot.com there currently is about a 250 BTC "change transaction" created for each.  i.e., "volume" is exaggerated 5,000 times versus the actual transaction size.

I don't know the best ways to adjust for these.  Possibly:
  • If there is only one "output:" amount, then it is safe to say the entire amount was transferred.
  • If there are two "output:" amounts, then it is safe to say that at least the smallest "to:" amount was transferred.
  • If there is more than one "input" amount, then it is safe to say that all amounts except for the smallest "input:" amount was transferred. (this needs verification)

Keep in mind, I can also send bitcoins back and forth between two of my own wallets at no charge.  Thus the "total volume" can be manipulated easily -- i.e., Transaction volumes alone won't tell the true value of Bitcoin and any attempt to give merit to using this metric as a significant component of an investment decision will likely cause pain to the investor.

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