Bitcoin and the quantity theory of money

[riuuyiti1]

Hello friends, I am an uni student doing my dissertation and I wanna make regression analysis based the quantity theory of money PQ=MV. Does this make sense? I wanna use this equation since I wanna figure out Bitcoin's characteristics as normal currency.

For the analysis, I can find charts of the price level, money supply, quantity of transactions and the velocity on Blockchain.info but I can't find historical data. How can I extract those data from websites to excel? Please help!! Many thanks

[r1s2g3]

Can you be specific about historical data. ?

I do not think Quantum theory of money will be applicable to BTC as it is very new currency. Secondly it exist as an additional currency and it is not the primary currency for people.

[okala]

What do you mean when you say the historical data of bitcoin, because if you are talking about the general body of the data of bitcoin both it development and the transactions then that will be very difficult to achieve since there is no central body holdy the records and documents of bitcoin and the I don't think blockchain keep such data aside the transactions datas.

[Perunex]

Also you might be careful with the money supply. As far as I remember money supplies that is used. There are huge amounts of BTC that have never been used and it even might never be used. Like that Satoshi wallet BTCs for example.

[riuuyiti1]

I need data price level, Velocity, quantity of transaction and money supply for regression analysis from 2017 to now. I found them on Blockchain.info but they are all charts and I don't know how to input them in Excel for analysis. In the exchange equation, Price level should positively proportional to quantity of transaction but negatively proportional to the velocity and money supply. So I wonder if it applies to Bitcoin it might can explain that those are part of the factors that affect Bitcoin's price. And i wanna us BTC dd instead of quantity of transaction to remove the bias of short interval movement of funds by day traders, since I consider the short interval transaction made by day trader would make the quantity of transactions on the websites higher than actual value.

[dothebeats]

Should I use Bitcoin in circulation instead of money supply?

Yes, bitcoin in circulation is more accurate and can lead into more plausible results than total money supply, but even then you will be having some form of problems in terms of accuracy as there doesn't exist a single reliable service that can tell you the total current bitcoins in circulation. All of the data available in the internet are just rough estimates given that there are wallets with bitcoins in them that hasn't been moved for years yet they are still active since the owner still has access to them.

[palle11]

Should I use Bitcoin in circulation instead of money supply?

I think you have now given your work some easier direction now with this. I believe you can get some sources to back your research up. However, I think you should research on the direction of the future and effect in all aspect both circulation, losses, uses, mined and mining and scalability.

[riuuyiti1]

Guys thank you very much. I  will have a meeting with supervisor later. Now I feel little bit confident, Thanks a lot!

[franky1]

I need data price level, Velocity, quantity of transaction and money supply for regression analysis from 2017 to now. I found them on Blockchain.info but they are all charts and I don't know how to input them in Excel for analysis.

below the chart data in blockchain.info it has option

30 days | 60 days  |  180 days  |  1 year  |  2 year  |  all time          | logarithmic scale | 7 day average |CSV |JSON


the 2 buttons you need are the ones i demonstrate as green
first pick 2 years to get the 2017 to now timelime
then save as csv (comma separated value)

you can then open a csv file in excel

[xWolfx]

I need data price level, Velocity, quantity of transaction and money supply for regression analysis from 2017 to now. I found them on Blockchain.info but they are all charts and I don't know how to input them in Excel for analysis.

below the chart data in blockchain.info it has option

30 days | 60 days  |  180 days  |  1 year  |  2 year  |  all time          | logarithmic scale | 7 day average |CSV |JSON


the 2 buttons you need are the ones i demonstrate as green
first pick 2 years to get the 2017 to now timelime
then save as csv (comma separated value)

you can then open a csv file in excel

I think that he is done with it now, according to what he said but it's good to double-check and also be sure of what he did. If he did what he said and extracted the right data according to those specifications he will have a successful project since not looking into daily charts but more broad terms is a really good approach to analyze data.

It's the same principle/reason why really new businesses normally have a hard time finding funding.

[riuuyiti1]

I need data price level, Velocity, quantity of transaction and money supply for regression analysis from 2017 to now. I found them on Blockchain.info but they are all charts and I don't know how to input them in Excel for analysis.

below the chart data in blockchain.info it has option

30 days | 60 days  |  180 days  |  1 year  |  2 year  |  all time          | logarithmic scale | 7 day average |CSV |JSON


the 2 buttons you need are the ones i demonstrate as green
first pick 2 years to get the 2017 to now timelime
then save as csv (comma separated value)

you can then open a csv file in excel

OMG this is exactly what I need. I must be blind how can I miss that!! Thank you so much!!

[Ailmand]

I'm trying to look for the Bitcoin historical that you are trying to say. You could look for more reliable sources online. However, I'm also wondering if Quantum theory is applicable to any cryptocurrency especially with bitcoin. But I admire your eagerness to learn.

[Haunebu]

I'm trying to look for the Bitcoin historical that you are trying to say. You could look for more reliable sources online. However, I'm also wondering if Quantum theory is applicable to any cryptocurrency especially with bitcoin. But I admire your eagerness to learn.

Lol. Op has already found what he is looking for thanks the earlier post by franky1. Did you even bother reading the previous posts?

Coinmarketcap is the solution to the problem faced by op through which the data can be imported into excel a csv file as franky mentioned.

[maldini]

I need data price level, Velocity, quantity of transaction and money supply for regression analysis from 2017 to now. I found them on Blockchain.info but they are all charts and I don't know how to input them in Excel for analysis. In the exchange equation, Price level should positively proportional to quantity of transaction but negatively proportional to the velocity and money supply. So I wonder if it applies to Bitcoin it might can explain that those are part of the factors that affect Bitcoin's price. And i wanna us BTC dd instead of quantity of transaction to remove the bias of short interval movement of funds by day traders, since I consider the short interval transaction made by day trader would make the quantity of transactions on the websites higher than actual value.

Your point is to scan data from blockchain.info, you only need to learn about scrapper data and a little programming language to retrieve that data

[Ipwich]

It seems like you are asking is complicated.
Have you tried to explore https://coinmarketcap.com/currencies/bitcoin/historical-data/ , this is the most popular site where we get the information about bitcoin. I don't know any site other than that, I guess you have to do it manually but the problem now is the data you needed.

[lyks15]

It is hard to make an analysis about bitcoin because we don't really know the real number of quantity of bitcoin transactions, so we don't have any basis and how can you have a accurate analysis if you only assume your data? I think your activity is not feasible to do because of lack of information.

[Bitinity]

It is hard to make an analysis about bitcoin because we don't really know the real number of quantity of bitcoin transactions, so we don't have any basis and how can you have a accurate analysis if you only assume your data? I think your activity is not feasible to do because of lack of information.

Didn't you read the OP? He says that he can find about the quantity of the transactions. Means that it wont be hard for him to make the analysis since he have found it already. One more thing, he is doing his dissertation and he has just found the one that he is asking for from the post of franky1, so it is obviously feasible.