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Author Topic: Bitcoin addresses hits an all time high!  (Read 227 times)
bitbro678
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December 09, 2019, 05:25:45 AM
 #21

In was recently reported that the number of unique Bitcoin addresses holding an excess of 0 bitcoins i.e more than zero bitcoin in them just got to an all time high
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Bitcoin recently hit a new milestone and an all-time high for its addresses. It currently has more addresses with BTC in it than at any other time in its history...
Quote
...Bitcoin now boasts some 28.39M addresses with more than 0 BTC in them. This tops the previous all-time high seen in January 2018 when the network hit 28.384M active addresses. The story was first reported by analyst Alex Thorn (@intangiblecoins)...
Full article: https://beincrypto.com/bitcoin-addresses-hit-a-new-all-time-high/amp/?__twitter_impression=true

This shows an evident increase in the adoption of Bitcoin all over the world, although unique addresses does not necessarily translate to unique users of the network, it shows the growth of the network.
Is this evidence of Bitcoin going mainstream?
Would an ATH in addresses lead to a new ATH in the price?
This is probably because people are using a different address for every transaction, which is a smart thing to do.
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smartbitcoininvestor
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December 09, 2019, 05:30:17 AM
 #22

28 million is a lot but it can still double or triple in number very soon. There are over 7 billion people on planet Earth and only 21 million BTC ever to be mined.

I think the true value in bitcoin is educating others how they can obtain some for themselves and what they can use it for (aside from a store of value and long term investment asset). We need to create more online stores and apps which accept Bitcoin as a currency. Many web hosting platforms already accept Bitcoin as payment and so I think we still have a lot more room to grow before Bitcoin is used by everybody including your grandma.
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December 09, 2019, 08:25:26 AM
 #23

I keep track of those changes in my topic:
Less than 0.3% of the world population owns more than 1$ worth of BTC

Just to make it clear, the amazing growth to 28.3 million addresses with a balance is just a slight growth from 27335350 on October 1st, or 4% in two months. And most of it, like 80% comes from addresses with a balance of less than 1$.

28 million is a lot but it can still double or triple in number very soon.

No, it can't.
Even if we assume that all the spare capacity we have in the network right now to be used only by batching transactions to new owners and new addresses we will have less than 100k a day, so we will need 280 days to double that number and 560 to triple it.
No matter how you try you can't overcome math!




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stiffbud
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December 09, 2019, 12:59:30 PM
 #24

In was recently reported that the number of unique Bitcoin addresses holding an excess of 0 bitcoins i.e more than zero bitcoin in them just got to an all time high
Quote
Bitcoin recently hit a new milestone and an all-time high for its addresses. It currently has more addresses with BTC in it than at any other time in its history...
Quote
...Bitcoin now boasts some 28.39M addresses with more than 0 BTC in them. This tops the previous all-time high seen in January 2018 when the network hit 28.384M active addresses. The story was first reported by analyst Alex Thorn (@intangiblecoins)...
Full article: https://beincrypto.com/bitcoin-addresses-hit-a-new-all-time-high/amp/?__twitter_impression=true

This shows an evident increase in the adoption of Bitcoin all over the world, although unique addresses does not necessarily translate to unique users of the network, it shows the growth of the network.
Is this evidence of Bitcoin going mainstream?
Would an ATH in addresses lead to a new ATH in the price?
Increase in the number of bitcoin addresses doesn't necessarily mean in an overall increase in the price of bitcoin as you said it just means that the network is growing. But surely it can eventually lead to an increase in price of bitcoin if the underlying issues such as high transaction fees can be solved.

I personally use ethereum to transfer funds from one place to another just because of the high fees occurring in transferring bitcoins. If problems like these are solved then bitcoin user adaption will grow just like old days when bitcoin controlled more than 70% of the network.

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akirasendo17
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December 09, 2019, 01:14:13 PM
 #25

I think he has a point when he says it ofcourse who will not get hype when tech giant, suddenly get interested on blockchain
this means that there are more tech companies who will follow because they don't it, to get a chunk of the gold lying on those
blockchains, ofcourse as we know they were interested to profit but i think , they will also help us , use this blockhains in the
future but ofcourse with a price, but then its nice to here this news

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