24 Dec '12, 5pm

Where do the majority of Bitcoin transactions take place?: I'm new to Bitcoin and am trying to wrap my head arou...

Because bitcoin is a pseudonymous digital currency, there are no hard statistics available. Because one popular service, SatoshiDICE, uses static Bitcoin addresses as the wagering mechanism for the players of its online "Dice" game, the amount of activity related to them can be measured . It currently represents the majority of bitcoin transactions (but not value) that crosses the network. Currently the Bitcoin network is hitting about 50,000 transactions per-day. Some of these transactions will be performed for the purpose of mixing coins to protect the privacy of the sender. By far the biggest interest in Bitcoin to-date (going from an educated guess) has been for speculative and investment purposes. As such a large amount of the activity is transfer of funds to and from (and between) exchanges. The ratio of this type of activity versus commerce involving digital and phy...

Full article: http://bitcoin.stackexchange.com/questions/5916/where-do-...

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