420 sats \ 2 replies \ @SimpleStacker 30 Nov 2023 \ parent \ on: Cycles and inevitability bitcoin
I'm curious. What good measures of adoption do we really have? Sales of hardware wallets? New addresses? Trouble with these is that these are likely to go up during periods of rampant speculation, which is not true adoption.
Addresses with long-term hodling? One issue here is that a lot of speculators might jump in, then just leave their addresses inactive until the next bull market.
Do we have metrics for actual economic transactions using bitcoins? Like sales of gift cards? This might be a good metric and is likely to increase during times of price stability.
Number of merchants accepting Bitcoin as payments?
Real adoption? It's tough. I doubt any chain analysis would provide real nsight. Number of merchants would be a valuable indicator. LN nodes and transactions, maybe. Merchant sales volume? BTC map growth? Nostr zap growth. Podcasting 2.0 growth?
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LN nodes with non-zero channel balances (to skip all the Umbrel / MyNode installations) would be decent, I think, but probably undersell it quite a bit. I like nostr zap growth -- SN total zaps would be good, too, since there's a real innovation on SN made possible by the entire btc ecosystem.
I wonder if that's gettable through the API? I bet it is.
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