Examining the value settled on Bitcoin

Bitcoin, the peer-to-peer currency, has given individuals and businesses the ability to conduct transactions in an alternate fashion without an intermediary. Due to Bitcoin’s highly volatile nature, its price is typically the central focus for speculators and the press.

What is often lost in the news is whether Bitcoin is actually providing any utility and what sort of economic activity is taking place on the protocol. We will explore the Bitcoin blockchain and look at the value taking place across its transactions over the past four quarters. This will give us a better idea if Bitcoin is more of a “toy” for geeks and enthusiasts to send money to one another or if it has evolved into something much larger to where serious economic activity is taking place.