How many BTC are used in commerce each day?

[adhitthana]

Does anyone try to keep track of, or estimate how many BTC are used in everyday transactions each day and at what rate  that figure is changing? Or is that just too hard to do?

[usatimer]

Does anyone try to keep track of, or estimate how many BTC are used in everyday transactions each day and at what rate  that figure is changing? Or is that just too hard to do?

It is a small amout.

[franky1]

atleast 2000 coins a day are used commercially via bitpay (do maths: bitpay does atleast $1mil a day)

then add on coinbase's possible totals, then add businesses that self-process tx's without the 2 gateways mentioned above.

i think its well above 5000 coins

thats before you add on coin gambling websites and illicit services

[keithers]

Too bad there is no way to tell.  Companies obviously don't publicly post their sales for the general public to see.  It would be interesting to see how much BTC is actually used as a form of exchange each day, and how far it has come over the last few years...

[Nerazzura]

Does anyone try to keep track of, or estimate how many BTC are used in everyday transactions each day and at what rate  that figure is changing? Or is that just too hard to do?

if we try to add them together, we would be surprised at how many bitcoin transactions per day in all countries. I've seen on the site faucet've done about 50btc or more transactions each day. it was only for 1 fauce

[franky1]

i know for sure that its over 5000 coins.. (yet to mention the unaccounted gambling, illicit, legit auctions, private product purchase etc)

and then when you relate that to only 3600 coins mined a day..

supply vs demand, shows that demand is higher then supply..

i would have been sad if demand (need/use) was less than mining output, but if we can account for atleast maybe some known services, and they exceed mining output, then bitcoins is on a good path even if we cant account the rest.

if we try to add them together, we would be surprised at how many bitcoin transactions per day in all countries.

bitcoin transactions per day can be accounted https://blockchain.info/charts/output-volume (1mill bitcoins moved today)
but the title was about commerce. so i only accounted for commerce EG shopping cart gateways like coinbase/bitpay

[Harley997]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

[Cicero2.0]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

Wow. That is a lot bigger than I would have thought. I wonder how much of it is gambling versus other economic activity. 

[rext]

getting higher and higher man.

[nwfella]

There does seem to be an amazing correlation between overall transaction volume and bitcoin price.

[Kprawn]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

Harley997 - Does that include all transactions going through BTC blockchain or just the transactions, going through the blockchain.info exchange? Seems a bit low? But I imagine a lot of people hoard and keep their coins in cold storage, until the price of BTC explode, as predicted by the hype. 

[Harley997]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

Harley997 - Does that include all transactions going through BTC blockchain or just the transactions, going through the blockchain.info exchange? Seems a bit low? But I imagine a lot of people hoard and keep their coins in cold storage, until the price of BTC explode, as predicted by the hype. 

I believe it is all "on chain" transactions. So "off chain" transactions will be excluded.

AFAIK this number is inflated somewhat as it counts the outputs you send to your change address as being spent. It would also count when you use a tumbler that sends coins to multiple addresses or otherwise send coins to an address that you control (similar to moving money to one bank account you own/control to another bank account that you own/control)

[Willisius]

i know for sure that its over 5000 coins.. (yet to mention the unaccounted gambling, illicit, legit auctions, private product purchase etc)

and then when you relate that to only 3600 coins mined a day..

supply vs demand, shows that demand is higher then supply..

i would have been sad if demand (need/use) was less than mining output, but if we can account for atleast maybe some known services, and they exceed mining output, then bitcoins is on a good path even if we cant account the rest.

if we try to add them together, we would be surprised at how many bitcoin transactions per day in all countries.

bitcoin transactions per day can be accounted https://blockchain.info/charts/output-volume (1mill bitcoins moved today)
but the title was about commerce. so i only accounted for commerce EG shopping cart gateways like coinbase/bitpay

I'm not sure how "demand (need/use)" applies here. If something costs $5 and I'm paying with BTC, it doesn't matter if that's 1 BTC or 0.01 BTC. How much BTC does one -need-?

[zimmah]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

that's like 0.1 cent per person in the world.

It can and probably will rise several orders of magnitude.

[superhero]

Without receipts it's impossible to calculate. This is because tax offices love them.

[DannyElfman]

https://blockchain.info/charts/estimated-transaction-volume-usd

It is estimated to be ~ $87,000,000 today

Harley997 - Does that include all transactions going through BTC blockchain or just the transactions, going through the blockchain.info exchange? Seems a bit low? But I imagine a lot of people hoard and keep their coins in cold storage, until the price of BTC explode, as predicted by the hype. 

I believe it is all "on chain" transactions. So "off chain" transactions will be excluded.

AFAIK this number is inflated somewhat as it counts the outputs you send to your change address as being spent. It would also count when you use a tumbler that sends coins to multiple addresses or otherwise send coins to an address that you control (similar to moving money to one bank account you own/control to another bank account that you own/control)

The off chain TX will likely somewhat cancel out the "extra" on chain transactions as coinbase to coinbase TX likely covers a large amount of their merchants sales

[negafen]

Black market and mining gear have huge transaction volume.

The rest are most likely speculation.

[moreia]

i know for sure that its over 5000 coins.. (yet to mention the unaccounted gambling, illicit, legit auctions, private product purchase etc)

and then when you relate that to only 3600 coins mined a day..

supply vs demand, shows that demand is higher then supply..

i would have been sad if demand (need/use) was less than mining output, but if we can account for atleast maybe some known services, and they exceed mining output, then bitcoins is on a good path even if we cant account the rest.

if we try to add them together, we would be surprised at how many bitcoin transactions per day in all countries.

bitcoin transactions per day can be accounted https://blockchain.info/charts/output-volume (1mill bitcoins moved today)
but the title was about commerce. so i only accounted for commerce EG shopping cart gateways like coinbase/bitpay

Every where demand is higher than supply
You'll never find a currency that has a higher supply rate than it demands, that's how economics is
My guess is 7.5k coins~/day

[jeffersonairplane]

It out to be upwards of hundreds of thousands of dollars each day. And that is strictly recorded data. Not applying other transactions that occur under the radar.

[kerafym]

It out to be upwards of hundreds of thousands of dollars each day. And that is strictly recorded data. Not applying other transactions that occur under the radar.

Most mining gears transaction are done using bitcoin. The transaction volume is at least 20M per year.