Bitcoin in Numbers – Statistics And Facts About The Cryptocurrency No. 1
In the world of cryptocurrencies and especially to Bitcoin there are many interesting facts, statistics and numbers. This is due to the fact that it is a public ledger in which all relevant data about transactions, mined coins and wallets are publicly available.
In this article we take a look at a selection of these numbers and provide you with helpful information. We have categorized them to give you a better overview:
→ Bitcoin in General: Here you will find interesting figures on Bitcoin supply, distribution around the world and some key figures with a technical background.
→ Bitcoin Price: In this category we focus on (historical) price development and future Bitcoin forecasts.
→ Bitcoin Transactions: If you have ever wondered how many transactions there are per day on the Bitcoin blockchain or what average fees have been paid for them, this section is worth a look.
→ Bitcoin Mining: Bitcoin would not work without the miners. This article will also tell you what an incredible amount of calculations they do.
→ Bitcoin Ownership: Bitcoin investors are still among the early entrants to this new asset class. Take a look at the numbers in this category to see how early exactly we are!
Bitcoin in General
~17.7 million: So many Bitcoins are already in circulation and it becomes more and more difficult to mine the rest. If one calculates in excavated blocks, one arrives at a number of 580,378. By the recurring halvings, whereby the degree of difficulty Bitcoins to mine doubles, the period extends up to the exhausted maximum supply in the length. Only in the year 2140 will all 21 million BTC have been mined.
~3 million: Various estimates say that around 3-4 million of the Bitcoins in circulation so far are probably lost. This includes many cases in which people who bought a large amount of Bitcoins early do not have access to them anymore, because e.g. hard disks and USB sticks were lost. While it is annoying for these people, other investors can rejoice. Because a lower overall supply is potentially good for the future price development.
850,000 BTC: This is the sum of the bitcoins of the largest Exchange hack to date (Mt. Gox). To this day, many investors are waiting to get back at least a small part of their Bitcoin investment from the liquidation mass. At that time, the Bitcoins were worth 473,000,000 US dollars. It shows once again that the choice of a reputable Bitcoin exchange is important.
232 GigaByte: This is the size of the Bitcoin blockchain (summer 2019). At the beginning of 2019 it was “only” 197 GB, a good indicator for the increasing use of Bitcoin. If you’re wondering how zeros and ones can use so much memory, you need to be aware that every transaction is stored on the blockchain. The more transactions you process, the more memory you will need. Therefore, it may take days to use a locally stored wallet for crypto currencies, as it has to be synchronized with the complete blockchain first.
10,000 BTC: Today, 22 May 2010 is known as “Bitcoin Pizza Day” when Laszlo Hanyecz paid 10,000 bitcoins for two pizzas of “Papa John”. The deal came about at the Bitcointalk Forum and is now legendary. Considering that a Bitcoin at that time was not even worth 0.01 US dollars, not a bad deal at that time. However, Laszlo will secretly regret this purchase for all eternity.
9,783 nodes: The total number of nodes in the Bitcoin network is 9,783, with the USA in the top three with 24.93%, Germany with 20.77% and France with 6.5%. These (full) nodes ensure the integrity of the network and compliance with all rules implemented in the system. In order to operate such a full node, a computer with around 200 GB of hard disk space and a write speed of 100 MB/s is required. In addition, 2 GB RAM, broadband Internet with at least 50 KB/s upload speed and the necessary energy to run it 24 hours a day, 365 days a year.
7,500 BTC: An IT specialist from Great Britain started mining Bitcoin on his laptop in 2009. Even when he wanted to sell the laptop in 2013, he dismantled it and, as a precaution, kept the hard drive in case Bitcoin would increase in value in the future. However, this hard drive ended up in the trash while he was cleaning up his apartment in the same year. This contained 7,500 Bitcoin, which was worth over 100 million US dollars in the past. The authorities refused to allow him to search for the hard drive at the local landfill. Basically, it is questionable whether after this time and under these storage conditions it would have been suitable for recovery at all. However, the search operation has not yet been taken off the table. He offered the authorities a donation if they would allow the search operation and it would be successful.
4,894 ATMs: In recent years, the number of Bitcoin ATMs worldwide has increased dramatically. Statistics from Statista put the number of ATMs at 4,894 in summer 2019, a figure that is expected to rise sharply over the next few years as part of further policy measures/regulations in various countries. For people who have not yet invested in Bitcoin, it is usually a very strong per argument when they see a Bitcoin ATM, as it is a familiar, tangible system.
113 countries: In 113 countries Bitcoin is not regulated, i.e. there are no laws that subject the acquisition, holding or action in any form to a political line.
9% women: Women make up only 9.91% of the Bitcoin community, down from 2% in 2017. This trend is expected to continue in the future.
4,464 Lightning Network Nodes: On June 10, there were 4,464 LN nodes with functioning payment channels and have thus already doubled since December 2018. The Lightning Network is a Layer 2 solution that operates on a block chain and can confirm transactions in the millisecond range. Many Bitcoin investors see great potential in it when it comes to the future use of Bitcoin as a means of payment.
74% of mining is from renewable energy sources: The research institute Coinshares estimates in its latest mining report dated June 5, 2019 that 74.1% of all Bitcoin mining activities are realized through renewable energies. This is a higher proportion than in any other highly scaled industrial sector in the world.
$1,000,000: This is the predicted price until 2020 for a Bitcoin from John McAfee, one of the biggest proponents of crypto currencies. Originally, he announced that a Bitcoin would be worth $500,000 by 2020. However, he then revised his price target upwards through the massive rise in 2017. Such predictions should, of course, be treated with caution, even though McAfee himself still calls this a conservative price target.
0.03 US-Dollar: When Bitcoin was first listed on an exchange (bitcoinmarket.com), it started at a price of 0.03 US dollars. From today’s perspective, it’s unbelievable if you look at the subsequent percentage growth. However, there are certainly not many people in the world who bought Bitcoin at that time and still hold it today.
0.81% Volatility: Bitcoin is known as a very volatile asset. The lowest volatility was in a period from September to October 2016, when the price only fluctuated 0.81% in 30 days. A real nightmare for every day trader.
1.000% Price Increase: On 12 July 2010 there was a phenomenal price increase of 1.000%. The price of a Bitcoin rose from 0.008 to 0.08 US dollars and helped the new currency to attract more attention.
500,000 BTC: The largest Bitcoin transaction, measured by the number of Bitcoins. It took place in April 2015 and was worth $100 million at the time. Transactions like this, which can theoretically take place across all countries, demonstrate one of Bitcoin’s greatest advantages.
14,654 transactions: In a 24h period from 11-12 June 2019 alone there were over 14,000 transactions in the Bitcoin network. This is only a fraction of the transactions that large banks or payment service providers such as VISA handle. However, the development has risen sharply since Bitcoin was founded.
0.00031 BTC: The average transaction fee for the 14,654 transactions mentioned above was 0.00031 BTC (= $2.56). This figure illustrates the advantage over other payment processors such as VISA/Mastercard, Western Union and Paypal.
3.71 BTC: For the more than 14,000 transactions, the average transaction size was 3.71 Bitcoin.
58,219,170 TH/s: Behind this number lies the hashrate of the entire Bitcoin network in Tera Hash/Second of June 10, 2019. A hash in the context of the Proof-of-Work (PoW) system is the output of a blockchain algorithm. One TH/s corresponds to one trillion tried possibilities within the mining process. An almost unbelievable number, which is not tangible for the human brain. The development of the Hashrate clearly shows the increased interest in Bitcoin.
1,800 BTC: An average of 144 blocks are mined per day, per block there are 12.5 Bitcoins. Multiplying the two factors yields a product of 1,800 bitcoins. This is, before halving in 2020, the number of bitcoins that are mined every day. Due to the increasing hash power of the miners in recent years, however, Block Times has often only been 9.5 minutes (instead of 10 minutes), which is why the number is slightly higher on most days.
2,782,036 BTC in TOP100 Wallets: The 100 largest Bitcoin Wallets contain a good 2.7 million Bitcoin. Many of them show a steady increase in the number. These are so-called “whales”, which Bitcoin hoard because they speculate on a long-term price increase. These include Satoshi Nakamoto’s wallet with 980,000 Bitcoins and the Winklevoss brothers, who together hold over 100,000 Bitcoins. To estimate a long-term trend, it is helpful to observe these wallets.
34 million+ BTC Wallets: According to a study on Statista, this is the number of BTC Wallets in the first quarter of 2019. Of course, this is not the actual number of people already invested in Bitcoin, but it is an indication of the status of mass suitability.
34% active Bitcoin users: A study by Chainanalysis showed that there are 34% active Bitcoin users. The proportion of Bitcoin investors who also use BTC for payments is 11% and the proportion of traders is 23%.
30% Hodler: 30% of all Bitcoin investors are long-term invested and do not plan to sell their Bitcoin in the next years according to Chainanalysis. In absolute figures, this corresponds to 6.4 million. It can be assumed that this figure will increase in the long term with rising prices and decreasing volatility.
13 million+ customers: Coinbase, one of Bitcoin’s largest and best-known trading venues, has more than 13 million registered customers by 2019. The service is active in 32 countries and is popular with newcomers to the market to make their first crypto currency investment.
5% American Bitcoin Hodler: A survey by the Global Blockchain Council showed that among 5,000 respondents 60% already own Bitcoin and 5% are invested in Bitcoin. Extrapolated, this would mean that there are around 16 million Bitcoin investors in the USA.
16,251 tweets: So many tweets were published from 11-12 June with reference to Bitcoin. For comparison: Ethereum published 4,973 tweets in the same period and Bitcoin Cash only 507. The record from 2017 is over 100,000 tweets per day. Twitter is the number 1 source of information on crypto currencies.
1,048,776 Reddit Subscribers: In addition to the number of tweets, the number of people who have subscribed to the Bitcoin Subreddit is even greater. By the beginning of June 2019, there are already over a million users who want to be regularly informed about news from the Bitcoin world.