Bitcoin Forum
September 26, 2021, 10:04:03 PM *
News: Latest Bitcoin Core release: 22.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Best measure of BTC adoption?  (Read 871 times)
davidgdg
Hero Member
*****
Offline Offline

Activity: 553
Merit: 501


View Profile
March 14, 2014, 09:04:44 AM
 #1

Any thoughts on what is the best metric for BTC adoption over time?

Some candidates:

1. Market cap: http://blockchain.info/charts/market-cap

2. Blockchain info users: http://blockchain.info/charts/my-wallet-n-users

3. Google searches: https://www.google.co.uk/trends/explore#q=bitcoin&cmpt=q

4. Bricks and mortar adoption: www.coinmap.org




Any others? Which is best?

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
1632693843
Hero Member
*
Offline Offline

Posts: 1632693843

View Profile Personal Message (Offline)

Ignore
1632693843
Reply with quote  #2

1632693843
Report to moderator
1632693843
Hero Member
*
Offline Offline

Posts: 1632693843

View Profile Personal Message (Offline)

Ignore
1632693843
Reply with quote  #2

1632693843
Report to moderator
1632693843
Hero Member
*
Offline Offline

Posts: 1632693843

View Profile Personal Message (Offline)

Ignore
1632693843
Reply with quote  #2

1632693843
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1632693843
Hero Member
*
Offline Offline

Posts: 1632693843

View Profile Personal Message (Offline)

Ignore
1632693843
Reply with quote  #2

1632693843
Report to moderator
yenom
Full Member
***
Offline Offline

Activity: 168
Merit: 100


View Profile
March 14, 2014, 09:39:06 AM
 #2

By adoption do you mean, people buying and holding, or the velocity of BTC in the economy excluding transactions between owners' addresses?

The former can be measured by the price over time. The latter, I'm not so sure about. Some things spring to mind:

* Total VC funding received
* Number of new bitcoin related projects, and total number of bitcoin projects
* Active commits to bitcoin projects on Github
* Increasing hash rate means more people are investing in mining (they think adoption will happen)
* Number of bitpay users over time

I'm sure there are plenty of other more meaningful metrics. I think it's hard to deduce just from the blockchain because you don't know if people are moving BTC around between their own addresses.
Pente
Hero Member
*****
Offline Offline

Activity: 509
Merit: 505



View Profile WWW
March 14, 2014, 09:46:17 AM
 #3

Number of google hits for craigslist: https://www.google.com/search?q=site%3Acraigslist.org+bitcoin

Oct 15, 2013 = 45800
Dec 19, 2013 = 1990
Mar 13, 2014 = 3380








IrishFutbol
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
March 14, 2014, 01:24:06 PM
 #4

I think the best way to judge adoption would be market value.  BitCoin is vastly inferior to credit/debit cards when it comes to store purchases, and stores that accept it are doing it for novelty purposes.   Google is probably not that great either, as most of the articles on BitCoin are about how it's about to die / has died 100 times in the past.
Lauda
Legendary
*
Offline Offline

Activity: 2674
Merit: 2885


Terminated.


View Profile WWW
March 14, 2014, 01:39:47 PM
 #5

You can always look at this: http://coinmap.org/

"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks"
😼 Bitcoin Core (onion)
davidgdg
Hero Member
*****
Offline Offline

Activity: 553
Merit: 501


View Profile
March 14, 2014, 03:45:54 PM
 #6

By adoption do you mean, people buying and holding, or the velocity of BTC in the economy excluding transactions between owners' addresses?

The former can be measured by the price over time. The latter, I'm not so sure about. Some things spring to mind:

* Total VC funding received
* Number of new bitcoin related projects, and total number of bitcoin projects
* Active commits to bitcoin projects on Github
* Increasing hash rate means more people are investing in mining (they think adoption will happen)
* Number of bitpay users over time

I'm sure there are plenty of other more meaningful metrics. I think it's hard to deduce just from the blockchain because you don't know if people are moving BTC around between their own addresses.

I suppose what I am interested in is a single metric that best captures overall global interest from consumers and investors. My personal favourite is the number of My Wallet accounts on Blockchain.info (currently standing at over 1.5 million and increasing by 6,000 a day).

"There is only one thing that is seriously morally wrong with the world, and that is politics. By 'politics' I mean all that, and only what, involves the State." Jan Lester "Escape from Leviathan"
SlipperySlope
Hero Member
*****
Offline Offline

Activity: 686
Merit: 501

Stephen Reed


View Profile
March 14, 2014, 04:36:42 PM
 #7

Any thoughts on what is the best metric for BTC adoption over time?

Some candidates:

1. Market cap: http://blockchain.info/charts/market-cap

2. Blockchain info users: http://blockchain.info/charts/my-wallet-n-users

3. Google searches: https://www.google.co.uk/trends/explore#q=bitcoin&cmpt=q

4. Bricks and mortar adoption: www.coinmap.org




Any others? Which is best?


The best site is http://www.bitcoinpulse.com/. Their core indicators are running about 10x annual growth, which relates to the 10x average annual bitcoin price growth,.
franky1
Legendary
*
Offline Offline

Activity: 3262
Merit: 2145



View Profile
March 14, 2014, 04:46:03 PM
 #8

market value
merchant adoption

the other two are scewed as i know somepeople have more then one blockchain wallet and some people use google to find pages, instead of book marking them.


I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
Pages: [1]
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!