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Realtime Bitcoin Stats

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Re: Realtime Bitcoin Stats

#41

Post by mfringel »

davidjohnstone wrote: post #22
pazimzadeh wrote: post #11

Earlier quoted context omitted.

So you spend your entire wallet minus the price of what you bought every time you make a purchase? If the ratio of 'money spent'/'total volume' is 1/5, does that mean that people are, on average, spending one fifth of their wallet?

You spend the results of previous transactions. Each transaction can have multiple inputs and multiple outputs, so when you make a purchase, you select enough payments that you have received to cover the cost as the inputs of the transaction, and make the purchase price (to the recipient) and whatever is leftover (back to yourself) as the outputs. (I imagine software would take care of all the complexity; and whateve…

Thank you. That's the most lucid description of bitcoin spending I've yet to see.

Re: Realtime Bitcoin Stats

#43

Post by epscylonb »

pazimzadeh wrote: post #7

Well done. I think that it would look cleaner if you removed the two decimal places. If it's estimated, then you probably shouldn't be showing them anyway.

It's estimated due to the way bitcoin works.

A transaction can be made up of a different number of inputs, if the inputs don't exactly match the output (the amount you want to send), there is "change".

The change is sent to a new address (belonging to the sender). So blockchain.info and this site are guessing as to which of the outputs was the intended sending amount and which was the change.

Re: Realtime Bitcoin Stats

#44

Post by liorn »

ArikBe wrote: post #39
netcan wrote: 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…

That's Adi Shamir, an Israeli cryptographer. You might know him as the S in RSA.

http://en.wikipedia.org/wiki/Adi_Shamir

Re: Realtime Bitcoin Stats

#45

Post by ArikBe »

liorn wrote: post #44
ArikBe wrote: post #39

Earlier quoted context omitted.

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…

That's Adi Shamir, an Israeli cryptographer. You might know him as the S in RSA. http://en.wikipedia.org/wiki/Adi_Shamir

My bad, edited.

Re: Realtime Bitcoin Stats

#46

Post by khet »

How do you get all that data? I am super interested in knowing how something like this is built. How do you connect to the bitcoin network and serve the stats via this app. I am butchering my question but I hope it makes atleast some sense.

Re: Realtime Bitcoin Stats

#48

Post by eric_bullington »

kolinko wrote: post #28
netcan wrote: 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.

Google up "bitcoin days lost", that's quite a good indicator for the traffic/volume. Also, most of the volume indicators ignore BTC trade, as that's done using the exchanges' internal systems.

The metric you're thinking of is "Bitcoin Days Destroyed". A search for "Bitcoin Days Lost" brings up tales of woe from users who lost bitcoins. But I do agree that this is probably the best metric for measuring how dynamic the Bitcoin economy is. Incidentally, Bitcoin Days Destroyed has continued to rise, even in recent months. It has risen steadily almost since the inception of Bitcoin.

http://blockchain.info/charts/bitcoin-days-destroyed-cumulat...

Re: Realtime Bitcoin Stats

#49

Post by gibybo »

rwinn wrote: post #37
ewillbefull wrote: post #24

Earlier quoted context omitted.

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

ASICs represent only a tiny fraction (for now) of the power consumed by the network though. The vast majority is consumed by GPUs at ~1-2 MHs/watt.
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