Bitcoin Wallet Blockchain Says It’s Adding 50k Users Per Day

[Pursuer]

if true, this is more of a bad news in my opinion. because at this point in time we are not having that much adoption to say this is just a small part of it, in fact I think this shows most of the adoption these days. now the bad part is the fact that it shows new people are using a "web wallet" as their bitcoin wallet and it proves that most of the newcomers do NOT understand bitcoin at all.

hopefully this can change over time and as they read more about what they have just bought and stop only thinking about the price and getting rich!

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[davhek]

It is clearly a good sign that people are not scared of this drop. The brave and clever ones will definitely benefit as the price can't go much lower than this. Now is a good time to invest, before ETFs enter the game and start bringing the price up again.

[koincik]

I think people's faith in Bitcoin is still full. The trouble is whether the new projects are sufficient. There are too many ICOs and their future is doubtful.

[TheClownSong]

I think more peoples having bitcoin wallet is good. Its a sign that bitcoin getting more popular and people want to buying bitcoin for their investment. Beside that, more people having bitcoin more transaction in market and i am believe increasing liquidity in market

[jseverson]

It's been a while since I've used blockchain.info, but they don't require KYC, right? If so, then anyone can just make any number of wallets that they want. Rather than saying 50k users (unless they have a good way to actually track real signups), it may be more accurate to say they're adding 50k more accounts per day.

Still, if this is true, then I guess it signifies that Bitcoin interest is still pretty strong. I would never recommend anyone to use any online wallet ever, but I suppose newbies have to start somewhere, and that blockchain.com isn't the worst service they could use. They should learn on the fly that online wallets are a bad idea, I just hope it happens sooner rather than later.

[bloodyvio]

if the data is correct then it's impressive
50,000 new users every day of course will gradually affect the price of bitcoin sooner or later

[Fatanut]

if true, this is more of a bad news in my opinion. because at this point in time we are not having that much adoption to say this is just a small part of it, in fact I think this shows most of the adoption these days. now the bad part is the fact that it shows new people are using a "web wallet" as their bitcoin wallet and it proves that most of the newcomers do NOT understand bitcoin at all.

hopefully this can change over time and as they read more about what they have just bought and stop only thinking about the price and getting rich!

And how do we know that when we don't have the data for people creating new desktop or offline wallets to compare it to? I think newbies are called "newbies" because they don't know much about bitcoin yet and they came here to learn more. I, for one, started out with an online wallet. I didn't really care THAT much about security back then because even if I get hacked, there's really nothing to get from me. Then after reading and accumulating around 20$ worth of bitcoin, I started using 2FA. After getting more, I started using a desktop wallet and later on moved my bitcoins to an offline wallet.

I think the journey of other newbies will be the same unless they have a facilitator who would teach them to use an offline wallet right away although there's really no reason to be since he doesn't have any bitcoins yet. Pretty much online wallets are just temporary wallets that will allow you to understand bitcoin more by having some first-hand experience in sending and receiving bitcoins.

[kl8847]

Cryptocurrency topic will show off in the next years definitely, right now it is already worldwide known thing, and it will only gain the popularity in the next months, so be sure that you are inside the boat.

[James_Hepp]

For me personally this is not good news, such a large number of newly opened accounts in only one online wallet shows us that the majority of users are not fully aware of all the risks which come along with online wallets. But on the other side blockchain.com ( be aware this service is change domain to .com recently ) is also allows users to buy BTC&ETH, so it may be good if users just buy coins and send them to more secure wallets ( desktop&hardware ).

this is a huge number of new users in fact. it's strange that the market does not grow although new people come here

Yes, it is strange that only one site is get 50k new users daily which is 1,500,000 a month, and we do not see any big changes regarding the price. Blockchain service is just maybe want to show how better they are from Coinbase, they sign 50k users daily during December last year and Blockchain is doing that these days.

In my opinion this is just cheap public promotion, they may claim to adding 100k users per day - there is no way for us to know is this true.

This is similar to how the exchanges were faking volume just to attract more users and list coins at higher prices. They inflate the numbers so they can have higher market caps and appear to be stronger than the others. Just one more way to trick people.

That's a good point about online exchanges. People should be more aware about the risks involved and take the simple precaution of downloading a wallet to an offline drive rather than opening accounts and just let their money sit their unguarded on exchanges. The problem is, Bitcoin appears difficult but it's really not.

[SFR10]

Blockchain CEO and Cofounder Peter Smith made the claim in a tweet that also appeared to take a shot at Coinbase.

Part of me is happy after seeing/reading that tweet (I've used both services in the past and had a very bad experience with coinbase).

In my opinion this is just cheap public promotion, they may claim to adding 100k users per day - there is no way for us to know is this true.

They have a chart: Blockchain Wallet Users
- Unfortunately, it doesn't show unique users (more of a general stats).

I would think an account is equal to one user since they most likely don't allow to have multiple accounts and require identification...

You can have multiple accounts/wallets on their platform.

[milewilda]

They have a chart: Blockchain Wallet Users
- Unfortunately, it doesn't show unique users (more of a general stats).

Those numbers wont really be that accurate even we do saw 1 million sign ups but it wont really mean that there are 1M new users who jumped in but still a good number of sign-ups
on weekly basis.I remembered those old days where i do first know about bitcoin and blockchain was my first wallet. Im not really interested on coinbase though.

[audaciousbeing]

Observers are likely to take the statement as a shot at Coinbase for apparently helping people to get into crypto for speculative purposes, instead of for practical purposes, unlike Blockchain. The implication, in other words, is that Smith was hinting that the trading and investment-heavy Coinbase model does not necessarily help the long-term adoption of crypto, and it may have in fact contributed to the crypto industry downturn. https://www.ccn.com/bitcoin-wallet-blockchain-says-its-adding-50k-users-per-day/

Its the "observers" that are making an issue out of a statement made by an entrepreneur trying to encourage people and doing so innocently. His statement does not signify any shot taken against coinbase at all as both operates in the same market and there is high possibility that same individual opens account on both platform so they might be claiming credit for just an individual because its about emails and unique numbers than person. More so, I would trust coinbase figure more that blockchain because of verification practically absent on blockchain platform.

Whether one is providing is platform for speculative purposes, and another having "real" enthusiasts, they are both pursuing the same object how they know best as you can't separate the two. An enthusiast will be encouraged to stay if only he can get rewarded for being a speculator and the same thing applies to speculators that can get stuck because he needs to make decent returns thereby being a convinced enthusiast.

[shield132]

50K daily is 350K in one week and 1.500K in one month. I highly believe most of them are current/active or old users of blockchain.info
Interest in crypto was huge when price hit 20K usd, now everything is in silent so can't imagine 50K new customer daily. It's not a shot at coinbase too but a bold line that their wallet attracts new people in crypto.

[Fatunad]

50K daily is 350K in one week and 1.500K in one month. I highly believe most of them are current/active or old users of blockchain.info
Interest in crypto was huge when price hit 20K usd, now everything is in silent so can't imagine 50K new customer daily. It's not a shot at coinbase too but a bold line that their wallet attracts new people in crypto.

This is what i believed too where those daily sign ups wont really be totally came from new users which i do even believe that this is came from old users
which do plan to create new wallets.Interest on new people into this bear market wont really give any possibilities to reach out those hits.

[Patatas]

Peter Smith
@OneMorePeter
 CORRECTION: It's actually *Blockchain* signing up over 50,000 per day in the midst of this crypto downturn. It's delightful to see new entrants actually interested in *using* crypto. (Hi @crypto 👋 )

It's sad actually that 50k users make bad choices while choosing their first wallets. I wish someone had a track of daily torrent downloads for the core wallet and see how many people are relying on the ore and or running a full node.

[gentlemand]

It's sad actually that 50k users make bad choices while choosing their first wallets. I wish someone had a track of daily torrent downloads for the core wallet and see how many people are relying on the ore and or running a full node.

Unless you're already balls deep I really can't see any noobs going down that route now there are so many other options. Which makes Blockchain's claims pretty surprising too. I'd choose almost anything other than that myself. The crappiest phone wallet is a large step up in security.

And I wonder how many unknowing users bitcoin.com's wallet has ensnared.

[Patatas]

It's sad actually that 50k users make bad choices while choosing their first wallets. I wish someone had a track of daily torrent downloads for the core wallet and see how many people are relying on the ore and or running a full node.

Unless you're already balls deep I really can't see any noobs going down that route now there are so many other options. Which makes Blockchain's claims pretty surprising too. I'd choose almost anything other than that myself. The crappiest phone wallet is a large step up in security.

Like there are hundreds of tutorials and walkthroughs while setting up your own bitcoin wallet even if it's an SPV client like Electrum. My point is, anything typed/saved on the web is quite prone to numerous attacks especially if one is a noob. Better would be to install a desktop client and it's not that hard!

Imagine if blockchain.com's servers go down tomorrow. A hypothetical situation but only the ones with their private keys would be able to recover their monies back.

[gentlemand]

Like there are hundreds of tutorials and walkthroughs while setting up your own bitcoin wallet even if it's an SPV client like Electrum. My point is, anything typed/saved on the web is quite prone to numerous attacks especially if one is a noob. Better would be to install a desktop client and it's not that hard!

Imagine if blockchain.com's servers go down tomorrow. A hypothetical situation but only the ones with their private keys would be able to recover their monies back.

Ah, I thought you were referring to Core only. I personally wouldn't run Core myself. My internet is too sketchy to run any type of node and the download would take several days.

Yup, there are plenty of other options beyond blockchain's offering. Unless you have an old blockchain wallet you'll have your seed that you can take elsewhere if they crap out.

The wallets that truly blow my mind are the handful that still don't give you private keys such as Freewallet, let alone Coinbase and Xapo of course. Why anyone would go anywhere near them is an absolute mystery.

[1Referee]

The wallets that truly blow my mind are the handful that still don't give you private keys such as Freewallet, let alone Coinbase and Xapo of course. Why anyone would go anywhere near them is an absolute mystery.

Pretty easy. These platforms offer people instant and free user to user transactions.

Also, nowadays there are lots of faucets and other reward sites forcing people to use these platforms in order to receive very small payments in Bitcoin and other currencies.

Most people just accumulate smaller payments on these platforms and later on withdraw them to their own wallet or an exchange for trading purposes.

[sheenshane]

50K users of blockchain.com emerging every day that is nice, probably the real one on that having many accounts that may be used in a scam or other activities that fooling people. Once they had got a payment or those stealing bitcoin from the wallet, easy to change their wallet since it is not strict when making another account.(IMO)
Also possible happen that probably many people now adopting crypto and they make to start making wallet each.