Ethereum: Is there data on the geographic distribution of bitcoin users?
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Ethereum: a closer look at the geographical distribution of Bitcoin users
The popularity of bitcoins continues to grow data on the geographical distribution of bitcoin users and investigate what information they can provide.
Bitcoin user base
The Bitcoin user base is notoriously difficult to quantify due to its decentralized nature and the fact that there are many transactions anonymously. However, several students data from the data from the data blockchain.com Whitepaper, which contained information about the addresses of bitcoins held by users around the world.
According to this study,
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- United States :
3
Russia : Russia is the third in terms of the number of bitcoins users, with more than 1.5 million unique addresses.
- Canada : Canada rounds the first four, with more than 1 million unique bitcoin addresses.
- South Korea : South Korea follows closely behind with more than 900,000 unique bitcoin addresses.
knowledge of geographical distribution
Digital economies, such as China, the United States and Russia, have a significant presence of bitcoin users. This is not surprising due to the strong demand for cryptomains.
However, it is necessary to note that the geographical distribution may vary depending on the specific metrics used. The data from the Blockchain.com WhitePaper data and found that when China remains the largest country with bitcoin users, countries other than South Korea and Taiwan also have a significant number of users.
Information specific to country
A deeper understanding of the geographical distribution of bitcoin users is necessary to analyze specific countries. For example::
* China : As already mentioned, China has more than 5 million unique bitcoin addresses.
* The United States : The United States has covered 3 million unique bitcoin addresses.
* South Korea : South Korea is in third place in terms of the number of bitcoins users, with approximately 900,000 unique addresses.
Consequences for companies and academics
Understanding the geographical distribution of bitcoin users is decisive for companies that want to accept the digital menu. For example::
* Businesses trying to extend to the emerging markets
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Conclusion
The availability of geographical distribution data offers bitcoin users offers a fascinating view of the complex dynamics of this digital currency. Although I still learn a lot about these metrics, the knowledge obtained from the country’s data analysis can inform our understanding of the growth and adoption patterns of bitcoins.