Bitcoin (BTC) Hits 400 Million Transactions

[Xampeuu]

400 Million Transactions on bitcoins decentralizes network, that's a huge number. Bitcoins have proved that its networks work, and with the Lighting Network bitcoins also shows that it works on solutions to scale up its daily transactions.

Yeah its a good achievement and within the short time bitcoin had shaken the world and give a lot of people a better transaction, no matter what people said and how is the market situation bitcoin keep on evolving and helping people, and within more people realise this, the development of bitcoin will progress faster and this is just the start point, I believe when more transactions being process there will be more advance and sophisticated network to bring the better transaction

right, the growing number of bitcoins can be seen from the number of transactions, with the increasing number of transactions, it will certainly be an incentive for others to join, and of course from here, the beginning for advanced technology is developed

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[Idoe]

The number of transactions is high, this shows that Bitcoin has a transaction and investment tool that is feasible to develop. We will see continuously every day will continue to increase because it is easy and effective in saving our assets for the future.

[stompix]

It is correct that bitcoin users have multiple wallets and that 35 million wallets don't count towards as individual wallets.
According to this source, there are only 7.1 million active bitcoin users, but I doubt it is 100% accurate.

If the source is accurate than the possible wallets one individual could have is 4.93, that's per bitcoin users.

And how many users do you think are out there?
Counting 7.1 million users it would mean an average of 60 transactions in 10 years, or 1 transaction every two months pe user..
Can we count it as a "user" in this situation?

I highly doubt the number of users is anywhere above 5 million, not with 300k transactions a day.

Let's compare visa:
800 million cards, 150 million transactions a day, let's say 1/6
That would lead to some 1 800 000 users for BTC.

And when you pay something with visa it is one transaction, not like with bitcoin where you do a tx, then the merchant collects the coins in another address maybe in another, then send them to exchange with again do some transactions batching of their own..
How many tx are just exchanges collecting coins from deposits and sending them in and out of cold storage?

The 400 million tx is minuscule right now....
Mc Donalds, for example, has 68 million clients a day  

There is so much more to be done till we reach a level where the volume of transactions means something globally
A lot!!!!!!

[Bdstar]

I am not really surprised because bitcoin is so popular in worldwide now.So, we'll see many records like this in future.Bitcoin is the king of all crypto and everyday thousands of transaction is happening.Though 400M is a big number and I guess the count started from the very beginning 2009.I wish bitcoin may make more records like this and help people like us who are in need of.                   

[el kaka22]

It has been only 10 years but it would be naive to say that 400 million transactions was done equally, we can clearly see from the charts that there was a big uptick from 2017 and onward obviously and that has not slowed down that much. We are in a world where bitcoin is only getting bigger and bigger and this is the proof of that.

There is no doubt that bitcoin will "die" like some predict because there is just way too many transactions and moves done via bitcoin all the time, that is why I honestly think that bitcoin will only grow stronger and that is why I keep buying/earning bitcoin and put some aside since I can bet all my life savings on the fact that bitcoin will be x10 one day, maybe not tomorrow but one day it will go there. I suggest everyone else to stock up as well or you are going to regret these prices.

[finzyoj]

This is a very nice implication because the greater the number of transactions means greater number of users; and the greater number of users leads is closer to our dream of crypto adoption. I can't believe thay we are reaching this far.

[snip]

That's understandable since we knew that Visa and McDonald's (based on your example) are already considered empires of their own industry when btc is not yet matured. And besides, we can see that btc is growing fast — that's the most important thing. Let's give it another time, btc might become bigger than the companies stated above after more couple of years, who knows?

[Shenzou]

This comes to no surprise since bitcoin has risen up over the past 10 years, especially  in the past 2 to 3 years where its price has risen significantly due to many companies starting to adopt it as a payment method, i am pretty sure that transaction reached a high in 2017 due to the price increase and if we see another one like that  i am sure that it will lead to bitcoin having more and more transaction and will eventually lead to mass adaptation, and all of this due to the strong and supporting community that it has, and if other currencies had the same support they will succeed as well.

[OrangeSeller]

I am not surprised a bit that we have gotten to this stage that we are now in crypto world because people always look for comfortable ways of carrying about transactions without being monitored the banks or any government agency. For example, I am a freelancer and do development for lots of clients all around the world, this client pays me in crypto only and there is no way anybody in my country could know my earnings since they are all in bitcoin.

[mtmitat]

The Bitcoin network just reached a new milestone.

More than 400 million transactions have now been processed on the network, according to the data tracker Smartbit.


Source: Smartbit

On average, the Bitcoin network is processing about 350,000 transactions per day at a speed of four transactions per second, with an average cost of $1.70 in fees per transaction. Since its inception in January of 2009, the network has been operating with nearly zero downtime. Estimates place Bitcoin’s uptime at 99.98%.

The number of blockchain wallet users has also reached a new all-time high at 35 million, up 45% since April 2018 when the number of users crossed 24 million.


Reference: https://dailyhodl.com/2019/04/09/bitcoin-btc-hits-400-million-transactions-ethereum-based-crypto-lending-platform-launches-and-tron-founder-reveals-big-donation/

this means, bitcoin began to enter people's lives, very good

[Adriano2010]

This is good and in future this will be a small number as more people will start use bitcoin and now also the price grow over 5400$ can be a stable grow and i think grow will continue all this year.

[grifinmch]

It does look good and develops well. Seeing so many transactions indicates that bitcoin is indeed legit and will expand, perhaps 400 million of these transactions are arguably small in the world. But this will still develop so many people will use it.

[Ranly123]

Despite the crisis in the crypto market, Bitcoin continues to evolve, and this suggests that soon we will witness a new rally cryptocurrency. Perhaps the growth will not be as fast as it was at the end of 2017 - the beginning of 2018, but it will be. In any case, fundamentally, Bitcoin is strong and a deferred interest from investors will not take long to wait. I hope that by the end of the year we will see Bitcoin at $ 10,000 for Bitcoin, and by the end of 2020 Bitcoin will cost 20-25 thousand. The only thing that can negatively affect the development of the blockchain is the global financial crisis that could happen in the next 2 years.

I don't see any crisis in crypto market especially Bitcoin. We may see Bitcoin price drops but it's not a crisis but a correction on it's price. Don't get me wrong but Bitcoin is in a steady pace where in the volume is still high in the market.

[ecnalubma]

It is clear that adoption is growing and no one can stop it, despite of some criticism saying that it is dying but the charts shows the real status of Bitcoin and cryptocurrency performances. As the crypto community tackles different barriers it continues to grow and stabilise over the time.

[Altcoinrusher]

That is an amazing fact that proves Bitcoin is on its way to enjoy greater mass adoption and therefore could generate more number of transactions as its users grow. I think its a milestone that could serve as a gauge to where cryptocurrency adoption is heading. And I guess  everybody in the crypto community should rejoice about this. 

[TimeTeller]

It is correct that bitcoin users have multiple wallets and that 35 million wallets don't count towards as individual wallets.
According to this source, there are only 7.1 million active bitcoin users, but I doubt it is 100% accurate.

If the source is accurate than the possible wallets one individual could have is 4.93, that's per bitcoin users.

And how many users do you think are out there?
Counting 7.1 million users it would mean an average of 60 transactions in 10 years, or 1 transaction every two months pe user..
Can we count it as a "user" in this situation?

I highly doubt the number of users is anywhere above 5 million, not with 300k transactions a day.

Let's compare visa:
800 million cards, 150 million transactions a day, let's say 1/6
That would lead to some 1 800 000 users for BTC.

And when you pay something with visa it is one transaction, not like with bitcoin where you do a tx, then the merchant collects the coins in another address maybe in another, then send them to exchange with again do some transactions batching of their own..
How many tx are just exchanges collecting coins from deposits and sending them in and out of cold storage?

The 400 million tx is minuscule right now....
Mc Donalds, for example, has 68 million clients a day  

There is so much more to be done till we reach a level where the volume of transactions means something globally
A lot!!!!!!

I do agree that 400M txs is minuscule at the moment but it is already a great achievement in crypto.
As more merchants, payment centers, shops are starting to accept crypto, we will soon find ourselves in a situation like McDonalds or Visa.
And with more legit projects launched in crypto space and big companies supporting blockchain, I am positive that we will reach new heights for crypto.
And yes, there's so much things to be done but we are already heading in a good direction...

[nur rochid]

That is an amazing fact that proves Bitcoin is on its way to enjoy greater mass adoption and therefore could generate more number of transactions as its users grow. I think its a milestone that could serve as a gauge to where cryptocurrency adoption is heading. And I guess  everybody in the crypto community should rejoice about this. 

with the increasing number of transactions, it will certainly make increasing public confidence in bitcoin, with support from the government, allowing mass adoption to occur soon

[pragna]

What a milestone record for BTC and also BTC lover. Really its my pleasure that i joined with BTC and still connected with BTC. Hope BTC will break all records in transaction and one day all government will accept BTC when they see this records. Best of luck.

[StarofBTC]

What a milestone record for BTC and also BTC lover. Really its my pleasure that i joined with BTC and still connected with BTC. Hope BTC will break all records in transaction and one day all government will accept BTC when they see this records. Best of luck.

Bitcoin is really becoming more impressive and even to the governments, they know this and that is why they have not placed a legal band on it which I believe they will not do, because even the governments are silently benefiting from it.

I know a lot of institutions too have also seen the performance of BTC generally and seen that it is the most reliable now, we can easily even get to see it through so many news now reporting on BTC, like cnn and government listening to them. Once these large institutions can come in and their population increases, for sure, BTC will break all the records it has had so far.

[erikoy]

That means that a numerous users now are moving bitcoin from either wallet to exchange or from exchange to wallet. This maybe because bitcoin also became popular over a period of time. It seems that users for bitcoin each year has continue to grow in terms of its number and this is why seeing the bitcoin market now slowly recovering.