8 votes

www.listentobitcoin.com

This website produces a pleasing musical tone based on the amount of the transaction every time a bitcoin unit is transacted somewhere on the planet:

www.listentobitcoin.com

(thanks vsauce channel on youtube for this)



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5 10-coin transactions in yen...

at 800,000
dollar value ranging from $771 to $786...

Pandacentricism will be our downfall.

$832

and steady as a rock.

Pandacentricism will be our downfall.

651...

no change...

Pandacentricism will be our downfall.

Question

What kind of transactions are being counted?

BTC for dollars (or other national currencies), or BTC for goods and services, or both?

I'd like to know the volume of transactions of BTC for goods and services, as that's the real base demand for BTC, everything else is speculation.

Actually, the best gauge of BTC viability as money (as opposed to an object of speculation) would be the volume of transactions of BTC for legal goods and services.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

I agree. Fundamentals will make or break bitcoin.

Here a BTC chart collection.
https://blockchain.info/charts

BTC priced in gold
http://pricedingold.com/bitcoin/

Free includes debt-free!

According to those charts...

In the past year, number of transactions per day has increased 2x, while the dollar value of transactions per day has increased 150x.

So the number of transactions barely budged, while the value per transaction soared. How can this be explained?

Either the USD value of the average BTC for goods/services transaction increased 75x, or the average value of transactions in the BTC-USD market increased 75x. It's probably some of both. Probably there has been some increase in the average value of BTC for goods/services transactions, but I'd bet the house that the overwhelming majority of the increase is due to larger average transactions in the USD-BTC market...aka speculation.

In other words, the rise in price is a result of speculation, not increasing use of BTC as a medium of exchange.

"Alas! I believe in the virtue of birds. And it only takes a feather for me to die laughing."

lots more activity today...

than 2 months ago.

Pandacentricism will be our downfall.

This one is funnier...

http://www.listentobuttcoin.com/ :)

.
~wobbles but doesn't fall down~

Bill Cosby on Bitcoin:

"What do you think candy is made out of?"

Pandacentricism will be our downfall.

i'm

sold.

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

thank

you...

Pandacentricism will be our downfall.

Still fun to listen to.

......

Pandacentricism will be our downfall.