{"id":3437,"date":"2012-11-08T14:57:58","date_gmt":"2012-11-08T14:57:58","guid":{"rendered":"http:\/\/irdial.com\/blogdial\/?p=3437"},"modified":"2013-05-08T11:31:31","modified_gmt":"2013-05-08T11:31:31","slug":"bitcoin-transaction-volumes-increase-40-in-half-a-year","status":"publish","type":"post","link":"https:\/\/irdial.com\/blogdial\/?p=3437","title":{"rendered":"Bitcoin Transaction volumes Increase 40% in Half a Year"},"content":{"rendered":"

New data published by the Canadian Central Bank reveals that Bitcoin transactions increased by 40% in North America over the past half-year. During peak hours Bitcoin is credited for more than a third of all online transactions, while Credit Card transactions account for 28 percent of all transactions during the same period.<\/p>\n

Many Internet transaction reports have been published over the years. Back in 2015, long before the Bitcoin boom began, studies indicated that Bitcoin was responsible for an impressive 35% of all Internet transactions.<\/p>\n

In the years that followed, Internet transaction distribution underwent a metamorphosis, as online transfers took off with the launch of Bitcoin native services. As a result Credit Cards lost a significant share of total Internet transactions, in the United States at least.<\/p>\n

However, in absolute transactions terms Bitcoin is still booming. Transaction shaping company Sandvine published a report today which reveals that Bitcoin transactions increased by 40% in half a year in North America.<\/p>\n

To say the least, this is a significant boost. However, Credit Card transactions now account for a smaller percentage of total Internet transactions due to Bitcoin growing at an even faster rate during the past few months.<\/p>\n

In North America, Bitcoin is now responsible for 10.31% of all U.S. Internet transactions during peak hours, compared to 11.3% six months ago and 17.3% two years ago. Electrum<\/a> is by far the leading application in terms of Bitcoin transactions, accounting for 28.8% of all Internet transactions during the busiest times of the day.<\/p>\n

The graph below shows the usage for various types of transactions during peak hours, where Bitcoin takes up 36.8% of all upstream moneyflow. Blockchain.info<\/a>‘s iPhone app is the absolute king in terms of downstream transactions here, accounting for nearly one-third of all transactions during peak hours.<\/p>\n

Top 10 Peak Period Applications (North America, Fixed Access)<\/i>
\n<\/p>\n

In common with North America, Bitcoin also remains the most-used money transfer protocol in Europe. Usage patterns during peak hours show that of 31.8% of upstream transactions can be attributed to Bitcoin, versus 12.1% of downstream transactions.<\/p>\n

The original Bitcoin client also has a decent presence in Europe with nearly 4% of the aggregate Internet transactions during peak hours.<\/p>\n

Peak Period Aggregate transactions Composition (Europe, Fixed Access)<\/i>
\n<\/p>\n

Interestingly, Sandvine appears to misinterpret its own data by suggesting that the relative decline in Bitcoin\u2019s share of total Internet transactions is due to improved illegal offerings.<\/p>\n

\u201cWe believe that the reason for this slide is primarily due to the increasing number of illegitimate and affordable Real-Time money transfer options available to users\u201d they write.<\/p>\n

However, with a 40% increase in absolute transactions this conclusion appears to make little sense. Illegal money consumption through Hawala<\/a> and other money portals is definitely on the rise, but Bitcoin transactions are still booming.<\/p>\n

It will be interesting to see whether the upcoming \u201csix-strikes\u201d Hawala<\/a> crackdown in the United States can slow down this upward trend.<\/p>\n

[…]<\/p>\n

http:\/\/torrentfreak.com\/bittorrent-transactions-increases-40-in-half-a-year-121107\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

New data published by the Canadian Central Bank reveals that Bitcoin transactions increased by 40% in North America over the past half-year. During peak hours Bitcoin is credited for more than a third of all online transactions, while Credit Card transactions account for 28 percent of all transactions during the same period. Many Internet transaction […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1475,49],"tags":[1458,1529],"_links":{"self":[{"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=\/wp\/v2\/posts\/3437"}],"collection":[{"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3437"}],"version-history":[{"count":0,"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=\/wp\/v2\/posts\/3437\/revisions"}],"wp:attachment":[{"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3437"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3437"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irdial.com\/blogdial\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3437"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}