This chart shows the number of NuBit transactions each day since the network was created. While our transaction counts are still small, they have been growing a great deal. The average number of daily NuBit transactions in the last two weeks of data available (May 6 to May 19 with an average of 55.1 per day) shows a 249% increase over the average number of daily NuBit transactions six months prior (November 6 to November 19 with an average of 15.8 per day).
Use of our product is at an all time high. It is very similar to the number of transactions Bitcoin had six months after its inception. Though we haven’t grown as fast as many thought we would, this sort of growth will certainly lead to success if sustained.
By way of comparison, Bitcoin transaction volume has increased 17.3% in the last six months. So, in the last six months NuBit transaction volume has been increasing 14.4 times as much as Bitcoin transaction volume.
Another perspective is that the Bitcoin market cap is 1917 times the NuShares market cap, and Bitcoin has 1869 times as many transactions per day. These ratios are quite similar, although they haven’t always been nearly the same. Peercoin has about 4 times as many transactions (based on a 3 hour sample), and its market cap is a little more than 4 times as high. Litecoin has around 5,000 transactions (about 90 times as many as Nubits) and it’s market cap is about 33 times higher than that of NuShares.
So, the correlation between market cap and transaction volume isn’t perfect, but it is quite substantial. I’m quite excited to see the growth in our transaction volume. If transaction volume continues to grow, market cap will surely follow, albeit with some variance.
I wonder why don’t we have a transaction volume chart (not no of transactions), since we will eventually use a volume dependant transaction fee or atleast a flat relative fee, that chart would be essential for investors to estimate Nu’s potentials.
How would you solve the change address problem? That problem is solved (in my mind) by things like fibbonacci chunking, a blockchain reorganization of outputs. As that is not yet implemented, there is no reliable way to get anything other than a min and max for txn volumes, and those can often be very very different.
Estimated Transaction Volume
Similar to the total output volume with the addition of an algorithm which attempts to remove change from the total value. This may be a more accurate reflection of the true transaction volume.
