Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Bitcoin countries: top hotspots that use BTC
by
DdmrDdmr
on 29/09/2020, 10:50:54 UTC
⭐ Merited by stompix (1)
<…>
You need to include a reference to the source of that information:

First block of data: https://medium.com/@biditex/7-countries-with-the-most-bitcoin-hodlers-503b205d926f

Second block of data: https://www.investopedia.com/articles/forex/042415/10-cities-leading-bitcoin-adoption.asp

Third set of data: Google Trends (Ok, you mention that one).

Regardless, the information from some of those sources is not as it seems, or may be quite imprecise:

- The HODLers source does not cite how the information is compiled, and I’m pretty sure Spain is not in fourth position worldwide. The article is linked to an Exchange which I’ve never heard about before, and whose site is not even running apparently.

- Google Trends needs data to be taken with delicacy. The data on Google Trends is relative to the amount of searches within the geographical area. Nigeria is is first position not because it is the place where most searches are being performed for the term Bitcoin, but because it is in relative terms:

Number of Searches for the term ‘Bitcoin’ / Number of total searches on google in that country.

It does not mean that it is the country where the term is sought most (although it shows interest within the country).