Global Bitcoin: A Market Hype or Reality Industry

By April 22, 2014Bitcoin Business
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Global Bitcoin: A Market Hype or Reality Industry

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, /PRNewswire/ -- announces that a new market research report is available in its catalogue:

This report analyzes the global market for Bitcoin in terms of Cumulative Number of Bitcoins in Circulation in Thousands. Annual estimates and forecasts are provided for the period 2010 through 2018. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 49 companies including many key and niche players such as -

TerraHashCoinTerraButterfly Labs Inc.


Study Reliability and Reporting Limitations I-1



Table 3: Volume of Bitcoin Software Client Downloads bySelect Country for 2013 (includes corresponding Graph/Chart) II-3

Table 4: Global Bitcoin Market (2013): Percentage ShareBreakdown of Bitcoin Software Client Downloads by OperatingSystem (OS) in Select Countries (includes correspondingGraph/Chart) II-4

Table 5: Leading Bitcoin Exchanges Worldwide: PercentageBreakdown of Bitcoin Trading Transaction Volumes by Companyfor H2 2013 (includes corresponding Graph/Chart) II-4

Table 6: Number of Bitcoin Transactions Worldwide Per Day (inThousands) for Years 2010 Through 2014 (includescorresponding Graph/Chart) II-5

Table 7: World Market for Bitcoin (2011-2014): Breakdown ofBitcoin Transaction Fees (In US$) (includes corresponding

2. RECENT PAST & CURRENT MARKET SCENARIO II-7Will the Global Market Instability Drive Future Adoption ofBitcoin? II-7Eurozone Crisis Drives Pan European Interest in Bitcoin: ACase-In-Point II-8Partial Government Shutdown in Raised Valueof Bitcoin II-9Growing Acceptance Value & Quantity Value of Bitcoin Spursits Proliferation II-92013Q4: Bitcoin Soars in Value & China Becomes the Leading Player II-10Argentina Adds Momentum to Bitcoin Adoption II-11What Drives the Current Political Pressure on Bitcoin Governance? II-11 Bid to Regulate & Control Bitcoins Invites Skepticism II-12Hard-Line Regulatory Approach of the United States II-13Early Chinese Dominance Compels US to Cautiously Soften itsRegulatory Stand on Bitcoin II-14A Peek into Bitcoin Regulations in the US II-14New York Financial Regulator Moves Forward with TightBitcoin Regulations II-15 New Stand to Regulate Bitcoin Trading Forces Meltdownin Bitcoin Value II-15Russian Authorities Warn Against Use of Bitcoins II-16Bitcoin as a Payment Network: A Peek Into Its True Potential II-17E-Commerce Popularity Benefits the Use of Bitcoin as a Meansof Payment II-18Will Bitcoin Replace Credit Cards? II-19Bitcoin as an Alternative for Making Micropayments II-20Growing Use of Bitcoin for International Funds Transfer II-20How Pragmatic Is the Evolution of a Pure Bitcoin BasedFinancial Economy? II-20Is Bitcoin Truly a Full Reserve Banking Alternative to theCurrent Fractional Reserve Banking System? II-20High Energy Requirements of Bitcoin Mining Raises Skepticism II-21Is Bitcoin Liquid Enough to Challenge Fiat Currency? II-22The Advent of Colored Coins Adds to Bitcoin Popularity II-23Bitcoin Mining Hardware & Cloud Based Bitcoin Mining Grow inPopularity II-23Understanding Bitcoin's Concept of Anonymity is the Key toWider Adoption II-24Complexity of Bitcoin Mining Drives Popularity of Pooled Mining II-24

3. BITCOIN MARKET OUTLOOK II-27An Optimistic Research Perspective II-27Factors Encouraging Optimism: II-27Bitcoin Exchanges Survive Chinese Crackdown II-27US Businesses Help Bitcoin Make a Price Comeback PostChinese Crackdown II-28Busting of the Silk Road Underground Drug Market and itsPositive Implications II-28Weak Banking Systems & High Mobile Penetration Favor BitcoinProliferation in Africa II-29Growing Interest in Bitcoin Investment II-29Table 9: Average Value of Bitcoin to US Dollar (US$ PerBTC): Quarterly Breakdown for Years 2011 Through 2013(includes corresponding Graph/Chart) II-31Venture Capital Interest in Bitcoin Soars II-31Top 5 Venture Capital Investments in 2013: II-32Winklevoss Twins' Investment Fund for Bitcoin: A Bold StepForward II-32Bitcoin ATMs Herald the Emergence of Bitcoin as a MainstreamCurrency II-32A Pessimistic Research Perspective II-33

4. BITCOIN: CONCEPTUAL OVERVIEW II-37Bitcoin: An Introduction II-37History II-37Regulatory Environment II-38Key Benefits Driving Adoption of Bitcoin II-38Pseudo-Anonymity & Privacy II-38Immune to Monetary Inflation II-38Impervious to Manipulation II-38Irreversible Transactions II-39Portability II-39Low Cost II-39Divisibility II-39Economic Independence II-39Key Challenges to Adoption of Bitcoin II-40Bitcoin Anonymity & Unregulated Attributes II-40Lack of Accountability II-40Impairs National Development II-40Hoarding & Speculative Trading II-41Inequitable Distribution of Wealth II-41Extreme Volatility II-41Merchant Acceptability II-41Irreversible II-41Security Breach II-42Difficult to Coordinate II-42Negative Foundation II-42Vulnerable to Malicious Manipulation II-42The Promising Future of Cryptocurrency Spurs Competitive

5. RECENT INDUSTRY ACTIVITY II-46CoinTerra Introduces TerraMiner™ Design II-46CoinTerra Unveils Two Low-Cost Bitcoin ASIC Mining Solutions II-46CoinTerra Launches GoldStrike1™ ASIC and TerraMiner™ IVBitcoin Mining Rigs II-46Alchip & KnCMiner AB Introduces 28nm Bitcoin Mining ASIC II-46eGenesis Launches Dragon's Tale Multiplayer Role-Playing Casino II-46BitPremier Launches New Bitcoin Startup Venture II-47Bitcoin Ventures Launches CoinTap Gift Card II-47Bitcoin Ventures Introduces New CoinTap Reload Card II-47Phoenix Technologies Unveils X Series Bitcoin Mining Hardware II-48BTC-e Unveils Demo Version of MetaTrader 4 Platform II-48AvaTrade Announces Availability of BTC/USD Bitcoin Trading onMT4 and AvaTrader II-48Kipochi Introduces Kipochi BitCoin Wallet II-48Bitfinex Introduces Litecoin Trading II-48Tradehill Introduces Prime Bitcoin Currency Exchange II-48MonsterMegs Expands Payment Options for Hosting Services II-49Bittylicious Introduces Bitcoin Purchase Service II-49ForexMinute Launches Bitcoins News Widget II-49CoinTerra Partners with CoolIT Systems for Cooling Solutions II-50BitPay and 3dcart Enter into Partnership II-50Bitstamp Collaborates with GBGroup to Improve IdentityVerification Standards in Bitcoin Trading II-50Fidor Bank and Enter into Partnership II-50PureVPN Adopts Bitcoin Technology for Offering AnonymousPayment Solution to Users II-51Bitcoins Continue to Offer Alternative Payment Solution in II-51Winklevoss Bitcoin Trust Makes Efforts for IncreasingCredibility of Bitcoins II-51OpenCoin Announces Expansion of Ripple Network II-52Murfie Announces Acceptance of Bitcoins Use for Buying MurfieCredit II-52Mobile Apps Continue to Enable Bitcoin Transactions II-52Bitcoinstore Opens Bitcoin-Only Online Electronics Store Chooses Bitcoin as Alternative Method ofPayment II-53Deed Poll Name Change System Accepts Payments in Bitcoins II-53Text2Pay Provides Bitcoin Digital Currency II-53Beanstalk Solar Hosting Adds Bitcoins Processing Capability II-53Mesasix Adopts Bitcoins Payments Method II-53ForexMinute Announces Addition of Dedicated Section for Bitcoins II-54TruLiteLED Accepts Bitcoin Payments for LED Grow Lights Purchases II-54NetDNA Announces Acceptance of Bitcoin Payments by MaxCDN II-54CoinMama Announces Successful Development of Platform forSecure Purchase of Bitcoins via PayPal II-54Berwick to Set Up New Bitcoin ATMs II-54Ethos Adopts Bitcoins as New Payment Mode II-55Reddit Accepts Bitcoin Payments for Reddit Gold SubscriptionService II-55BitPay Enters into Partnership with Gyft II-55Lamassu to Introduce Production Bitcoin Machine ATM II-55Coinbase Rolls Out New Promotion Offer II-55BitPay Updates Payment Gateway Platform II-56HashFast Technologies to Commence Production of New GoldenNonce Chip II-56Coinbase Announces Addition of Ability for Instant Buying ofBitcoins for Verified Accounts II-56OKPAY Integrates Bitcoin into Trading System Announces Acceptance of Crypto-Currency II-57Bitronic Technologies Introduces Bitcoin Tribe Bitcoin SocialNetwork II-57

6. PLAYERS IN THE BITCOIN ECOSYSTEM II-60Bitcoin Mining Equipment Manufacturers II-60TerraHash () II-60CoinTerra () II-60Butterfly Labs Inc. () II-60KnCMiner AB () II-60Robocoin Technologies LLC () II-61Bitcoin Mining Contractors/Services Providers II-61Bitcoin Cloud Mining () II-61Cloud Hashing (UK) II-61Pyramining () II-62MinerLease () II-62E-pickaxe () II-62BitcoinFrenzy () II-62Byteminr Limited (UK) II-62Bitcoin Exchanges II-63Bitcoin Central () II-63BTCChina () II-63Bitstamp Ltd. (UK) II-63BTC-e () II-63Campbx () II-64Digital Future LLC () II-64Mt.Gox Co. Ltd. () II-64RMBTB () II-64VirtEx () II-65Bitcoin Based Companies (Includes Bitcoin Trading Platforms,and Payment Processing Companies, Among Others) II-65BitPay, Inc. () II-65

7. GLOBAL MARKET PERSPECTIVE II-67Table 10: World Recent Past, Current and Future Analysis forBitcoin Analyzed by Cumulative Number of Bitcoins inCirculation in Thousands for Years 2010 through 2018 (includes


Total Companies Profiled: 49 (including Divisions/Subsidiaries - 49)

(22) (3) (1) (14)- (1)- (1)

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