Microcash is a new form of cryptographic currency, currently under development. Bitcoin has been a genius proof-of-concept and proof-of-adoption digital commodity. The Microcash project hopes to vastly improve upon the distributed cryptographic currency idea with numerous innovations that current crypto-currencies cannot implement due to the nature of the bitcoin protocol.
Another Bitcoin adoption metric: Bitcoin Accepted Here sticker sales up 250%
Along with the many other ways to see the trend (mainstream media articles, google trends, coinmap, etc.), I am very happy to present another metric that shows an increase in the adoption of Bitcoin. My store BTC Gear has been around for a year and a half and we just had one of our biggest weeks ever without any change in marketing or exposure. Our Bitcoin Accepted Here stickers have seen a 250% increase in sales over the previous week which was itself a record high. We're very excited about what this means for the Bitcoin community and thought we'd share it with reddit. In addition to Bitcoin stickers, we also sell some really high quality Bitcoin hats. This is the part where I was going to pimp our Black Friday sale, but I decided to just give reddit some coupons to make Black Friday come early this year. These coupon codes are good for today only, but the same deals apply automatically on Friday if you miss them today. hat131127 - good for 60% off Bitcoin hats stik131127 - good for 25% off all Bitcoin stickers
Are there any better technical indicators that measure BitCoin consumer usage/adoption. I know there are many holes with things like market cap or # of transactions per block. Of course, every metric has its own strengths and weaknesses but what are some of the strongest measures of "true market growth". Example: BitCoin Days Destroyed on Blockchain.info
OLD-FAIL: Remember when people counted Bitcoin-QT downloads as the bitcoin adoption metric?
Just recounting some old fail and old things we used to have to debate about. Remember when people counted Bitcoin-QT downloads as THE bitcoin adoption metric? Completely ignoring how cumbersome that is to use and is the worst wallet software for casual users to download, not even including download estimates for much more convenient wallet software like Electrum, or Multibit or the android apps and eventually iphone apps
Bloomberg suggests that Bitcoin should be $15,000 according to this adoption metric
This post was originally published on this siteThis post was originally published on this siteAccording to the Bloomberg crypto newsletter, a key on-chain indicator suggests that Bitcoin (BTC) is currently greatly undervalued. Bitcoin active addresses, the 30-day average. Source: Glassnode. Bloomberg’s crypto analyst Mike McGlone believes that the recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active […]
What other bitcoin metric is growing exponentially besides hashrate? Institutional acceptance. ~Balaji Srinivasan
A few hours ago Balaji Srinivasan, a Stanford professor & general partner of a16z famous for this bold talk, put out the following sequence of tweets that I thought worth sharing. You can read it all on Twitter here but that can be hard to parse so I thought I would summarize his main argument here:
Remember: #Bitcoin only fully "legalized" this year. Entrepreneurs can finally build w/o threat of jail. So - patience! The apps are coming. Even as late as Nov 2013, NYT opeds predicted a Bitcoin ban. Only now clear this will not happen. Uncertainty gone. There's still regulatory risk, but vastly less than 12-18 months ago. Mainly technical risk now. Means the institutional money can come in. Obvious but...even if entrepreneurs themselves were risk tolerant, removing Sword of Damocles over Bitcoin hugely increased customer base. In 2014, institutions that are now neutral to positive on Bitcoin: Govts of US/UK/Japan/Israel, WSJ, NASDAQ, Bloomberg, Goldman Sachs! The public endorsements by prominent individuals & institutions arguably more important than law per se. Provide shield for taking risk. @adamdangelo asked a good q: what's growing exponentially besides hashrate? My answer: institutional acceptance. How to quantify? Perhaps plot * # individuals * annual budget * # nuclear weapons of every institution that's now neutral-to-pro #Bitcoin Can also plot: * sum of market caps * # of users/customers for every company (Dell, Expedia, Wikipedia, Paypal, etc) accepting #Bitcoin Would also further quantify @fredwilson's intuition on Bitcoin adoption metrics: http://pic.twitter.com/SAWUmU9t9v
With some interesting replies here:
@TwoBitItdiot: forgot the "sorry, but we have decided to close your account" notices by banks to honest consumers. Bigger issue than regulation.
@cdelargy: is the opt-in utopia coming from the top down now? @balajis: Longer convo - wouldn't term it "utopia" Main pt: bottoms-up influencing top-downBitcoin started as forum postNow govts respond
@amix3k: The threat of jail has not stopped others before (ex: AirBnB/Uber). I doubt it's the reason why Bitcoin has not taken off. @balajis: You're wrong about this. Several centralized Bitcoin antecedents banned, eg: http://www.wired.com/2009/06/e-gold/all/ … "You can fight city hall" = new.
@hugohanoi: 1) The problem with the statement "Litecoin is just a testnet" is that an actual testnet doesn't have any economic activity on it. Litecoin does, massively. In fact, Litecoin beats Bitcoin in many economic adoption metrics when they are both 6 years old.
Bitcoin mentioned around Reddit: CAPITULATION is happening!!! Don't let the market shake you out! Ethereum & Crypto adoption are growing exponentially by every metric. The markets were even darker in early 2015 and Dec. 2016. The /r/ethtrader
Different metrics to track bitcoin adoption or interest
I suppose the obvious way to see if bitcoin is gaining momentum is through the price of each coin. However, i think this is only part of the story, I am interested in alternative metrics to track adoption or user interest. Are there sites that track any of the following: a) number of bitcoin reddit readers b) number of total bitcoin wallets created c) number of google searches for bitcoin d) Number of bitcion transactions e) number of news releases with bitcoin in the title f) announced bitcoin startups g) total venture capital moving into bitcoin I suppose i could go on an on, and i know some of this information exists in different places, but it would be nice to have a site or area that aggregates key metrics related to the bitcoin ecosystem.
Additionally, while it's been a rough September for the Bitcoin price, Ether is in the green (just barely) this month, and the cryptocurrency recently enjoyed one of its best 24-hour Bitcoin ... Looking at other indicators not directly linked to Bitcoin’s market, but more its technical side and adoption metrics, Bloomberg’s crypto analyst Mike McGlone believes that Bitcoin should be closer to $15,000 than $10,000 . The recent all-time highs in Bitcoin’s hashrate and more importantly, the 30-day average of active Bitcoin addresses, suggests that Bitcoin has a lot higher to go in ... Bitcoin's price could continue appreciating on the back of increasing adoption, as it has done so far, but this would happen at a slower pace. Still, by 2025, we could see bitcoin reach those previously predicted highs. The report explained ... Bitcoin price is as healthy as ever, remaining over $10,000 for its longest stretch yet. Supporting that healthy price action could be an adoption measuring metric reaching an all-time high record. And with the metrics turning its trajectory upward, it could suggest that the cryptocurrency’s valuation will soon follow. Here’s why. Bitcoin Entering ‘New Adoption Cycle,’ Coin Metrics Exec Says Bitcoin user adoption looks to be gathering pace as its price rises amid a coronavirus-induced rush for assets with safe-haven appeal.
Bitcoin Halving Crash or Moon? Bitcoin's Defining Moment ...
This video is unavailable. Watch Queue WOW BITCOIN BREAKOUT IS IMMINENT!!!! We will do technical analysis on the price of ethereum and bitcoin! I will show you the price target and also my gamepla... BitcoinCash(BCH) is spearheading the adoption of "Bitcoin" as a peer-to-peer electronic cash across the globe, by staying true to the original Satoshi's Bitcoins' white paper. Is this the moment we have all been waiting for? What will happen after the bitcoin halving? Will bitcoin's price go up or down? Join us for another Token Metrics Live stream were we discuss this ... #Bitcoin falling as gold pumps! Whales move 25,684 $BTC! FED inject trillions as junk bonds added to shopping list, Fold x VISA crypto card, #BTC halving one...