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0 sats \ 2 replies \ @0xbitcoiner 26 Nov 2023 \ on: Good metrics for Bitcoin adoption? bitcoin
Looking at social media will not be the best indicator to see the adoption of bitcoin. The best way to analyze is using on-chain analysis.
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21 sats \ 1 reply \ @Coinosphere 27 Nov 2023
No amount of on-chain analysis can tell you how many unique humans are using it. Not even close. 1 exchange could be generating a new address for every transaction from every user, while another is sharing only one outgoing address for all of it's users!
It's amazing to me that chainalysis ever gets anything right. I bet they're wrong more often.
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0 sats \ 0 replies \ @0xbitcoiner 27 Nov 2023
I agree that with the available data, it is impossible to know how many people use Bitcoin. However, there are other data that are no less important that can be analyzed, and these data are on-chain.
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