Recently, a comprehensive cyrpto currency study was conducted by the university of cambridge.Although,it has revealed various aspects of bitcoin such as total number of wallets used,number of unique users of crypto currency wallets,but finally they have said that it is impossible to know precisely how many people use crypto currency.What do you think? Can we atleast get an approximate number of total Bitcoin users world wide?
No, We can't get the approximate number of total bitcoin users that are available as of now because we need to consider the multiple wallets that is created by almost all of us bitcoin users and also there is a lot of bitcoin web wallet sites that can make the countings be more complicated and unsure. But the only thing we can be sure about is the number of bitcoin users are already reached at least 5 million.
Not simply just that. If I open a few wallets, each wallet gives me maybe a new address every few weeks. And each site I use seems to give me different address every week also. So if I use 10 sites, and most people use more. We get maybe 30 address every month. So maybe real users from 5 million is much less.
As many users before me have already said, there is no way to even estimate the number of bitcoin ( or cryptocurrency ) users, because of many things.
First of all, we cannot do some kind of a list of transactions, where we would have every transaction assigned to blockchain user, cuz every user can make many transactions.
Same thing about assigning wallet to user, there is no limit in making wallets for yourself, you can even have 1,000 of them.
Other reason is that you may have option of varying addresses to one wallet- you can change the deposit address of your wallet every moment, even blockchain.info changes the address for a wallet created there.
The most useful data in my opinion is volume, because it may really determine how big market is, and it doesnt matter how many users we have in the blockchain- it matters how much money is invested into this technology, am i right?