Bitcoin is becoming a big brand

How big are these news headlines?

· Bitcoin surpasses 1 M daily active addresses.

· Uber provided an estimated 14 M rides per day in 2017.

· Apple sold 798,877 iPhones per day in 2017.

· OLA & Uber combined provide an estimated 3.5 million rides per day in India.

The virus has already spread! And it’s a good news for bitcoin.

According to CoinMetrics.io, there are now over a million daily active addresses, a number that is defined as the number of unique “from” or “to” addresses used per day. This is something we haven’t seen since November 2017, at the height of the bitcoin buying frenzy.

As Coindesk reports, one Twitter user, Kevin Rooke, noticed the movement this week and tweeted: “When Bitcoin first broke 1 million active addresses (Nov 27, 2017), 1 BTC was $9,352 and the median tx fee was $3.23.Yesterday 1 BTC was $8,230 and the median tx fee was $1.33.”

While some might say that this statistic isn’t that important, it certainly shows us one thing — there are people using bitcoin on a regular basis, whether for trading or spending. It is a good stat for bitcoin, regardless of what those who criticise it say.

From the statistics at the beginning of this article, you can see that there is a context for the figure. Take a look at the figures for Uber.

On the face of it, Uber is doing ‘better’ than bitcoin, because it has 14 million daily users globally. But you have to consider the fact that shifting from using a standard taxi to using Uber is much simpler for most people than changing from using fiat currencies to a cryptocurrency. So, the comparison is not exactly fair.

Then again, Apple is selling just under one million phones on a daily basis, putting bitcoin slightly ahead of it.

Ultimately, what can we take from these figures? The answer is that bitcoin is seeing the same kind of transaction volume as some of the world’s leading brands, which is quite an achievement, and shows that bitcoin is not just the leading cryptocurrency; it’s becoming the big brand of the cryptocurrency space.

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