Yankee (BitInstant) (OP)
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Charlie 'Van Bitcoin' Shrem
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May 01, 2012, 04:46:33 PM |
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Dear Community,
After finishing our numbers late last night, we discovered that BitInstant exceeded $1.1 million in transfers for the month of April. This includes all our services (cash deposits, inter-exchange transfers, bitcoin-to-email, etc.). For perspective, December was a $250k month, and February was a $500k month. Additionally, April's figures were achieved regardless of the fact two of our largest revenue sources (Paxum and Tradehill) were removed in March.
So while this is exciting for us internally to have reached this milestone, it's also an extremely healthy sign for the Bitcoin economy in general.
Things are growing fast, and we are honored to be a part of it alongside you all.
-Charlie
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Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer. More about me: http://CharlieShrem.com |
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mc_lovin
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www.bitcointrading.com
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May 01, 2012, 04:47:03 PM |
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Nice!! Congrats! You guys are an asset to the community.
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klaus
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May 01, 2012, 04:51:43 PM |
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1+
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bitmessage:BM-2D9c1oAbkVo96zDhTZ2jV6RXzQ9VG3A6f1
threema:HXUAMT96
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imsaguy
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Don't send me a pm unless you gpg encrypt it.
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May 01, 2012, 04:53:38 PM |
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That's great to hear, Charlie. Congrats!
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epetroel
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May 01, 2012, 04:59:35 PM |
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Nice work guys, and congratulations!
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Serge
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May 01, 2012, 05:04:02 PM |
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Congrats and thank you for sharing it with the rest of us!
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mcorlett
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May 01, 2012, 05:05:36 PM |
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Additionally, April's figures were achieved regardless of the fact two of our largest revenue sources (Paxum and Tradehill) were removed in March.
Interesting. This shows that Bitcoin fills a void big enough to make working around any hurdles worth it. |
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nedbert9
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May 01, 2012, 05:11:36 PM |
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Truly impressive. Congratulations.
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Stephen Gornick
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May 01, 2012, 05:17:15 PM |
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Bitcoin offers so few metrics available for trying to estimate its growth level so it is fantastic of you to share this info. Transparency FTW!
Incidentally, there were 210,500 BTC issued to miners in April, 2012. Using the weighted average price for the month (at Mt. Gox) of about $5 that means that there was more money that flowed in through BitInstant ($1.1 million) than all bitcoins mined for the month (210,500 X $5 = $1.05 million) are worth.
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Technomage
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Affordable Physical Bitcoins - Denarium.com
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May 01, 2012, 05:18:11 PM |
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Congrats! And thanks for the info, being transparent like this is great.
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Denarium closing sale discounts now up to 43%! Check out our products from here! |
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bbit
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Bitcoin
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May 01, 2012, 05:50:39 PM |
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Congrads Charlie you rock!  |
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evoorhees
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Democracy is the original 51% attack
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May 01, 2012, 05:51:19 PM |
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Also, it should be noted that BitInstant is a "derivative service" in Bitcoinland. Meaning, people only use BitInstant if they're already using (or plan to use) Bitcoins for some other useful purpose (whether entertainment, shopping, value transfer to 3rd party, paying for services, etc). BitInstant is not an end-point for Bitcoin funds, but merely a bridge to other end-points. What this means is that whatever size BitInstant achieves, the real Bitcoin economy must necessarily be some factor larger. BitInstant can thus be viewed as a fractional proxy of Bitcoinland, so these figures are quite wonderful to hear  |
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coretechs
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May 01, 2012, 06:51:58 PM |
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Congrats guys, awesome news. |
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Jan
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May 01, 2012, 07:09:44 PM |
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Congratulations! Thanks for sharing some statistics. Keep up the good work.
Looking forward to move to the states in less than 2 weeks so I can better use your services.
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Mycelium let's you hold your private keys private.
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Nefario
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May 01, 2012, 07:12:46 PM |
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That's great news, and you guys deserve every bit of it, you've been working plenty.
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PGP key id at pgp.mit.edu 0xA68F4B7C To get help and support for GLBSE please email support@glbse.com |
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Grinder
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May 01, 2012, 08:18:29 PM |
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That's a pretty hefty growth. Can you reveal any other statistics, like how much is deposits and how much is transfers, or how many different people have used you for depositing?
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Cosbycoin
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May 01, 2012, 08:58:47 PM |
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That's a pretty hefty growth. Can you reveal any other statistics, like how much is deposits and how much is transfers, or how many different people have used you for depositing?
Good Job! |
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zer0
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May 01, 2012, 09:02:38 PM |
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shhhhh don't tell anybody they'll try to sue you for ridiculous reasons to get at your pot of gold :)
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Matthew N. Wright
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Hero VIP ultra official trusted super staff puppet
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May 01, 2012, 09:04:02 PM |
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shhhhh don't tell anybody they'll try to sue you for ridiculous reasons to get at your pot of gold I hereby file a lawsuit against BItInstant because bitcoin. hehe. Terrific news Charlie! |
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nedbert9
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May 01, 2012, 09:29:12 PM |
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Also, it should be noted that BitInstant is a "derivative service" in Bitcoinland. Meaning, people only use BitInstant if they're already using (or plan to use) Bitcoins for some other useful purpose (whether entertainment, shopping, value transfer to 3rd party, paying for services, etc). BitInstant is not an end-point for Bitcoin funds, but merely a bridge to other end-points. What this means is that whatever size BitInstant achieves, the real Bitcoin economy must necessarily be some factor larger. BitInstant can thus be viewed as a fractional proxy of Bitcoinland, so these figures are quite wonderful to hear Yes, a good Bitcoin economic indicator. Even more so when/if they assume most of Dwolla's Bitcoin in/out business. |
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