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You're absolutely right, Bitcoin Days Destroyed only indirectly tells us about transaction volume. What it's trying to measure is the amount of "hoarding" occurring in the Bitcoin economy. More BDD suggests less hoarding. So it looks like people are spending their Bitcoins more and more.


Shouldn't hoarding be estimated by comparing BDD to total Bitcoin days? Or does the block number roughly reflect Bitcoin days?

The increasing number of bitcoins means that there are more and more days to destroy, so I'm having trouble relating it back to behavior.


well there are more and more ways to spend them. in the usa soon you'll be able to pay for city services and you can already top up your phone worldwide as well as pay electricity in southafrica. You can buy stuff over amazon or with bitspend anywhere else.




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