Avg Transaction?

[banque]

So I'm still trying to make sense of blockchain.info charts and stats

They claim 35K or so transactions a day usually of 70K average

They claim their average transaction is volume a day is 80K

So over 2 BTC per transaction

I doubt the average transaction is 1200 bucks

Anyone else having issues with the data being out from 'trust' sites

Is there a better site for volume of data

2+btc a transaction seems high

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[Lauda]

Exchanges or other services tend to transfer a lot of coins at once.

[Bitcoinfraud]

They're not an exchange it gives away free wallets
They claim 2m in circ
They claim 70k btc global trans day
They claim 35k a day my wallet
They claim 80k btc on 35k trans day

So none of these blockchain.info numbers add up

Look at the site a joke

No real info

Just some undefined charts

No info about the hong group that is on the whois
No real info about anything

Yet theyre one of the top btc sites?

They leased out bitcoin.com 5 years

Why not by it?

Unless yoy know you use fuzzy math and you're the company building the hype

In principal btc is great

Blockchain.info is huge red flag, the numbers dont make sense

Now blockchain could be complete scam

It wont stop btc at this point in my opinion

Is there another central data point for bitcoin that has better numbers that look real

[farlack]

So I'm still trying to make sense of blockchain.info charts and stats

They claim 35K or so transactions a day usually of 70K average

They claim their average transaction is volume a day is 80K

So over 2 BTC per transaction

I doubt the average transaction is 1200 bucks

Anyone else having issues with the data being out from 'trust' sites

Is there a better site for volume of data

2+btc a transaction seems high

It's an average..

If you send 1 bitcoin, I send 30,000, its now an average of 15,000 per transaction.

Yeah, some wallets do move those amounts all the time.

[Bitcoinfraud]

On credit cards the avg trans 30 bucks
You look up the top transactions wallets they show 90%+ satoshidice addresses
All that satoshidice stuff small
So nothing makes sense if you start to look at the numbers like a cpa

[farlack]

It doesn't really matter..



The last 10 transactions from when this screen shot was taken..

77.4 bitcoins were sent.. An average of 7.74BTC per transaction.

It's simple math




36.9 sent an average of 3.69 per transaction

[franky1]

last 24 hours

total bitcoin moved 440125
total transactions 63713

todays average bitcoin per transaction is....... drum roll..............= 6.90793088 btc per tx

.. moving on

[jbrnt]

It's an average!

That includes all dust transactions from faucets, exchanges trades, gambling sites moving from cold to hot wallets, and also coin mixing. You could also count the one off auction of silk road coins too.

[malevolent]

It's high due to change addresses. Without that, I think it would be considerably lower.

[Bitcoinfraud]

Ok
Watched a stream
9 fractions then a 10 or 30

So it could avg 2

But then you see this

http://blockchain.info/popular-addresses

Its all Ddos attack junk
Satoshi dice
Minor fraction stuff

10btc or 30btc not a lot of dough if big money moving in

But you look at the top trans wallets its low fraction satoshidice Ddos stuff

Main thing I would like is simple

How big is ledger now
100gb?
10 terrabyte?
How big

Plus avg byte size of a transaction in ledger

10bytes
100bytes

10% the size of visa mc
Thats 80m trans a day

10bytes 800mb day
100bytes 8gb day

So cintinuous logs an issue if you do numbers

I know early net my network only did 1m pages a day 15 log entries each page

Era of split images since data over phones then

15m lines in a daily log
Huge logs

This was early commercial net
Our logs were unmanageable
Major storage problem

You understand what size servers used as typical drives in 1990'
Lol

Tiny

So anyone got a clue as to how much data storage each trans sucks up

[acs267]

They're not an exchange it gives away free wallets
They claim 2m in circ
They claim 70k btc global trans day
They claim 35k a day my wallet
They claim 80k btc on 35k trans day

So none of these blockchain.info numbers add up

Look at the site a joke

No real info

Just some undefined charts

No info about the hong group that is on the whois
No real info about anything

Yet theyre one of the top btc sites?

They leased out bitcoin.com 5 years

Why not by it?

Unless yoy know you use fuzzy math and you're the company building the hype

In principal btc is great

Blockchain.info is huge red flag, the numbers dont make sense

Now blockchain could be complete scam

It wont stop btc at this point in my opinion

Is there another central data point for bitcoin that has better numbers that look real

Actually, I think around two million Bitcoins are in circulation. And you're saying Blockchain is a scam, when they don't even have access to the wallets? If they don't want to buy a domain, that's that. The 'whois' under the transactions only tells where the server used is located. How is Blockchain a joke?

Have you ever used Blockchain?

By the way, could you stop pressing tab after every sentences? It irritates me when people do this:

Looked at lunchbox

grabbed coke

Drank the coke.

Teddy fisher ate my dollar coke

----
By the way, why are you just using a Alt Account to reply?

[Bitcoinfraud]

Yeah moveouts
That makes sense
Collect fractions
Move out 10btc to 50btc at a time
Nice
Ok avg trans size not that important
But trans perday is
Imo

Also data needs each transaction

Trying to understand the ledger size issue

Any built in safeguards in core code

We dump data after x size

You cant keep rolling it

Only a few super computers have huge storage

So exponential growth mandates archiving of data at some point
Imo

[TimS]

It doesn't really matter..



The last 10 transactions from when this screen shot was taken..

77.4 bitcoins were sent.. An average of 7.74BTC per transaction.

It's simple math

Yep. What might be more interesting is the median transaction size. In these 10, it was 0.059760955, or ~$37, similar to credit cards' $30. It's also good to note that if I spend a 1 BTC output with 0.1 BTC to someone and 0.9 BTC back to me, that might be recorded as a 1 BTC transaction volume (or 0.1 or 0.9, but probably 1.0), even though only 0.1 BTC really changed hands, so a simple average of "how many BTC spent" / "how many transactions" will always overestimate the "actual" transaction size.
Also interesting about this: since transaction fees are typically 0.0001, the median transaction fee is only about 0.17%.

[Minecache]

I imagine the transaction costs are tiny and yet to get even more insignificant as the cost per bitcoin transaction is set while hardware and memory prices plummet. Remember most transaction are being moved to memory processing. If a transaction confirms 10 then it's 10 if it confirms 1 then it's 1.

[Harley997]

It's high due to change addresses. Without that, I think it would have been considerably lower.

IIRC blockchain.info tries to exclude the amounts going to change addresses when estimating the amount of BTC transacted. This is obviously not perfect but does make the average TX a better representation of what is actually being used for commerce.

[shorena]

-snip-
I doubt the average transaction is 1200 bucks
-snip-

I think what you want is the median, the typtical transaction, not the average. The average can change drastically due to few extreme values. If 99 TX are 1 BTC and 1 TX is 1000 the average is 10.99 while the median is 1. Just think of all the TX in a long line ordered by volume, pick the one in the middle, thats your median.

[harles9]

Pretty sure there's a lot of mixing going on with some pretty big BTC.
Outliers my friend.

[techlover]

Compared with average, i think Median will be the more appropriate for comparison.
A transaction of 30,000 coins few weeks ago can drive the average to the sky

[applesRyummy]

-snip-
I doubt the average transaction is 1200 bucks
-snip-

I think what you want is the median, the typtical transaction, not the average. The average can change drastically due to few extreme values. If 99 TX are 1 BTC and 1 TX is 1000 the average is 10.99 while the median is 1. Just think of all the TX in a long line ordered by volume, pick the one in the middle, thats your median.

the typical transaction is the "mode" or the number this is most common.

[franky1]

using bitcoin charts i averaged the 24 average of yesterday.

but lets raise the bar....

5 years of transactions.

average transaction per day is ~30k
average bitcoins moved per day ~400k

average bitcoins is ~13.3 per transaction.

alot of you will say, nah its its got to be higher. well if you remember the slow days of 2009-2011... then although there have been big days since 2012-now. the average is as i put it above, roughly