I have one new appreciation for fiat currencies - they're designed to circulate with a steady rate of inflation. It seems there's a hesitation of spending bitcoins knowing if you just wait a day it will go up, so it's being treated like a precious metal rather than a new way of paying for things.<p>Edit: Thanks for the correction, meant to say fiat currencies tend to 'inflate', not deflate.
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?<p>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.
I love the visualization, but wow almost $200. Greater fool theory is at work here: <a href="http://en.wikipedia.org/wiki/Greater_fool_theory" rel="nofollow">http://en.wikipedia.org/wiki/Greater_fool_theory</a>
Hm. I hope that sites like this are not a new trend but fear otherwise.
Visiting this page with my screen reader (NVDA from <a href="http://nvda-project.org" rel="nofollow">http://nvda-project.org</a>) 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.
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.
Very nice rwinn!
But I have a question. With the fast rise of bitcoins, lets say that I now have $10m worth of coins(I don't btw).
How would I convert all to gbp/usd and would the governments tax you?. With anti-money laundering controls in place in the uk, such a windfall would cause huge problems!
All this hype and speculation gives me a bit of pause, and worries me about actually mining. However, I keep wondering, what opportunities are there left to "sell the shovels" ?
How do you calculate the hash rate?<p>I have spent some time trying to understand the various hash rate estimates people come up with. Basically, I've determined that they're all 100% bogus. People like to work from the difficulty using bad/incorrect statistics since that's the most obvious way to get to something in the units of hashes/s, but I can never understand exactly what the process is. I'm genuinely curious to know what people do in practice, since I'm genuinely curious to know the "real" answer.
Am I misunderstanding what "coins in circulation" means?<p>Coins in circulation 10994200<p>that's 201798541 ɃTC<p>edit: ah, it's showing USD value but putting BTC as the currency
a thing I've been wishing I had is some sort of price-vs-difficulty comparison metric - you might think, for example, that the dramatic rise in bitcoin costs would mean that mining had gotten more profitable - but unfortunately, the first wave of "Application Specific Integrated Circuits" are being deployed, and they're not even available for sale yet - so the mining capacity is suddenly and dramatically in the hands of a small group of organizations.
But that hasn't been obvious at all from the various charts online.
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.
You seem to have an integer overflow error or something.<p>> Coins in circulation<p>> 10994200<p>> that's 224,516,226.80 kr<p>That's not right, $2,049,318,880.00 ~ 13,192,490,290.00 SEK
I'm surprised so many people in the tech community have fallen for this Ponzi Scheme.<p>For example, many heard about "some guy bought a $25 pizza with 10,000 bitcoins", but no one has thought about what this means. It means someone now has that 10,000 "coins" (which is close to 2'000,000).<p>This also means someone had this amount (and possibly much more).
And, finally, no one questions who posseses the first "coins".<p>That's why the creator is anonymous.
Just my 2 cents.