Burstcoin retention of users (Stats)

  • Hey everyone,
    I got bored and started digging for some info on Burstcoin and was surprised when I noticed the retention of users.

    There are currently 49,241 Wallets in existence but only 26,295 of them have a balance of more than 0.00, this means only 53% of people that make a wallet actually still have a non zero balance.

    Now I am going to say that active Wallets have a balance of at least 100.01 Burst (I chose this number because it's when the account balance differs in a more normal form rather than having 100 accounts all with the same balance of an even number) .
    The number of wallets that fit this criteria is 8405, which equates to 17% of all wallets in existence, or 31% of all wallets that don't have a zero balance.

    Now lets look at the new wallets per day with an average number of 80,. So with 80 wallets per day and a total of 49,241 Wallets in existence that means that the amount of wallets are growing by 0.166% per day. This means that for the amount of wallets in existence to-date, to grow 1% we need to wait a total of 6 days.

    But wait. Not all users are going keep their wallet instead lets apply previous math calculations to find out what the actual rate of growth is. So after applying the 17% retention rate of real users we get 13.6 Wallets per day, or 0.02822% growth per day. This means that we need to wait 35.5 days for the user-base to grow 1%. This also means that if extrapolated we will get a growth of 10% of real users in a year.

    What do you guys think about the 47% of all wallets being empty? Maybe comment on the Growth rate? Or maybe wonder why hundreds of accounts under the Balance of 100.01 have the same balance. Is it someone paranoid spreading out their wealth to avoid being hacked?
    if so don't get me started on the stats for that.

  • @AngryChicken , first of all, damn! when you get bored...you really are bored to look at stuff like this 🙂

    Second, one thing you have to consider is people making multiple wallets. I think i have little over 50 wallets made (ell empty) with @luxe 's vanity wallet. Most of them start with BURST-SEXY ....

    And i'm not the only one. So although 47% of the wallets are empty, most of them were created for selfish reasons like mine. I'd say that from all those empty wallets only about 20% are abandoned/made and forgotten about. That info should change the overall retention statistic 🙂

  • @nameless Well even if they are made for selfish purposes it still doesn't affect the stats or calculations as I only included the wallets that were considered active users (above 100.01) to avoid people that do this, see part 4

  • @AngryChicken , true... nevermind then 🙂

  • included the assets people have in there wallets ?

  • what about all the wallets created with mistaken attempts to enter a password? Technically their is a percentage per day for that plus they are always going to be empty and unused.

  • @Rendavu Sorry you're going to have to clear up this question, But if i'm correct your asking about balances which I didn't cover just wallets

  • @AngryChicken Okay if my wallet password is 1234 and by mistake I entered 1233 then I have just created an empty wallet (not sure of the password) So I exit out and manage to retype my correct password only to never log into the previous created one

  • @Burstde The stats are derived from the 17% of used wallet this already has the human errors built into it as I only calculate the percent of wallets that actually get used in the long run.

  • @AngryChicken actually lets figure it out. let take the current number of new wallets say at midnight then compare it to tomorrow. From their we can find out how many are empty vs used. And maybe we are talking 1% hypothetically speaking.

  • @Burstde Well like @nameless stated before it's because a single person may have multiple accounts.

  • @AngryChicken You can't forget that are robots running such as the discord bot and that you have the exchangers that have an address for each user but not all the users use a Burst Wallet and that when someone have money in the account of an exchanger the amount is not in your account but in the account of the exchanger because you withdraw for your exchanger account and then the amount is transfered from that account into the Exchanger account so your account will be empty and you still will have your money just is not in your account...

  • @gpedro haha I love how you explain things.

    @AngryChicken I like that you did part two, because it's more important to see how many accounts have more than 100, than accounts that have 0, as many stated before a balance of 0 can simply mean selfish reasons or lost passwords.

    I like this kind of info and it's fun to see what people can find when bored 😛

  • @Zeus I try to sound easy but sometimes my english is not the best as you all know 😉

  • @Zeus said in Burstcoin retention of users (Stats):

    when bored 😛

    alt text

    @nameless said in Burstcoin retention of users (Stats):

    Second, one thing you have to consider is people making multiple wallets. I think i have little over 50 wallets made (ell empty) with @luxe 's vanity wallet. Most of them start with BURST-SEXY ....

    So you're the one that took all the good ones. :p

    Thanks for the stats @AngryChicken. Perhaps that's why Burst hasn't yet reach levels everyone would like it to be. Not enough members circulating the coin around to generate value for eachother and newcomers.