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Realtime Bitcoin Stats

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31–40 of 152 posts

Re: Realtime Bitcoin Stats

#31
post #23

Earlier quoted context omitted.

Well for starters, you can go crazy and start spending BTC ( bitcoins ) directly and buy stuff instead of encashing immediately. Coming back to if withdrawn in as local currecny. Income that is earned through the exchange of services with another person, whether in the form of bitcoins, any other currency or even barter; is included in gross income, and would be subject to income tax. So practically bitcoins could be…

> All this is just assuming its your owned BTC via trading/exchanging and not via business which accepts BTC or via selling items online or via mining. All of those would be taxable too. The only question is when: every year at their current market value, or when traded for (official) currency.

Yup it would be taxable I should have mentioned that.

What I meant to say for businesses accepting BTC would have other and extra taxes apart from Income like Sales/Excise

For miners I assume it would be either considered as a owned commodity or intagible personal property.

I would assume just like any other commodity the current market value is considered if you have not traded in local currency.

Also if you have bought BTC and sold to make some profit by trading, there would be commodity tax.

Re: Realtime Bitcoin Stats

#34
Hm. I hope that sites like this are not a new trend but fear otherwise. Visiting this page with my screen reader (NVDA from http://nvda-project.org) shows all of a combo box with different currencies in it. There is precisely no other content. At least before the worst things the blind had to worry about were unlabeled links that you could eventually possibly figure out through trial and error. This? Nothing. I don't even see the clever little "Your browser sucks" message, as it's not my browser causing the issue. Just a complete lack of semantic markup of any kind that the screen reader could possibly interpret.

Re: Realtime Bitcoin Stats

#36
post #26

Is there any way of estimating the 'real" bitcoin economy?IE, Use of bitcoin to buy & sell goods & services rather than exchanging bitcoin for cash & via versa? I mean lot of investing/speculation is obviously going on, but is there growth in bitcoin based commerce? That's ultimately the problem I hope bitcoin will solve.

You can buy most of the online stuff with BTCs i.e. servers, VPNs, hosting services, seedboxes, most cloud services, music, gambling, games etc

Many sites have started accepting BTC now. ( http://bitpay.com makes it possible )

Some sites which are quite popular and known

http://www.bitcoinin.com/

http://www.bitcoinblaster.com/

http://www.coinabul.com/

https://www.bitcoinstore.com/

( Not sure if updated , but here is a small list https://www.spendbitcoins.com/places/ )

Re: Realtime Bitcoin Stats

#37
post #13

Earlier quoted context omitted.

It's based of that 40 megahashes per second consumes 1 joule of power (1watt)

Where do you get that figure? ASIC and GPU devices are completely different in power consumption for the same amount of MH, for example.

From https://en.bitcoin.it/wiki/Mining_hardware_comparison and some discussions on #bitcoin-dev

Re: Realtime Bitcoin Stats

#39
post #26

Is there any way of estimating the 'real" bitcoin economy?IE, Use of bitcoin to buy & sell goods & services rather than exchanging bitcoin for cash & via versa? I mean lot of investing/speculation is obviously going on, but is there growth in bitcoin based commerce? That's ultimately the problem I hope bitcoin will solve.

You could attempt to replicate the analysis used in "Quantitative Analysis of the Full Bitcoin Transaction Graph" by Dorit Ron and Adi Shamir. (http://eprint.iacr.org/2012/584.pdf)

In 2012 they noted that:

“If we sum up the amounts accumulated at the 609,270 addresses which only receive and never send any BTC’s [bitcoins], we see that they contain 7,019,100 BTC’s, which are almost 78% of all existing BTC’s. Due to the way bitcoins can be repeatedly moved to fresh addresses, some of which can be very recent, we can not claim that all these bitcoins are out of circulation. However,76.5% of these 78% (i.e., 59.7% of all the coins in the system) are old coins", de ned as bitcoins received at some address more than three months before the cut off date (May 13th 2012), which were not followed by any outgoing transac- tions from that address after they were received. One can also argue that very old dormant bitcoins were simply abandoned or lost by users who experimented with the system in its early days, when it was very dicult to buy anything or to exchange bitcoins into dollars. To be even more cautious with our estimation of dormant bitcoins, we decided to ignore all the transactions which took place prior to July 18th 2010, when Mt.Gox started its exchange and price quoting services. The sum of the balances of all the addresses which have not been active since that date is 1,657,480 bitcoins. Clearly, by considering all these bitcoins as "lost" rather than "hoarded" we are underestimating the number of bitcoins which are kept dormant in "saving accounts". By ignoring these very old bitcoins and repeating the same calculation, we found that 73% of all the remaining BTC's were accumulated at addresses which only receive and never send bitcoins, and that 70% of these 73% (i.e., 51%) are dormant bitcoins in the sense that they were received more than three months before our cuto date but after it became easy to exchange them. If instead of summing the transaction values we sum the nal balances of all the addresses that were active after July 18th 2010 but became inactive in the last three months, we get that 55% of all coins in the system are dormant in this sense. This is strong evidence that the majority of bitcoins are not circulating in the system, and since it is based on the address rather than the entity graph, this conclusion is not a ected by possible inaccuracies in the way we associate addresses with users.”

Re: Realtime Bitcoin Stats

#40
post #34

Hm. I hope that sites like this are not a new trend but fear otherwise. Visiting this page with my screen reader (NVDA from http://nvda-project.org ) shows all of a combo box with different currencies in it. There is precisely no other content. At least before the worst things the blind had to worry about were unlabeled links that you could eventually possibly figure out through trial and error. This? Nothing. I don'…

That's unfortunate. All text is rendered with SVG, so it should be technically possible for your screen reader to pick up on when new SVG text nodes are added. Perhaps i should add a "Your screen reader sucks message" :-P
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