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These are approximate adoption metrics

I am not aware of any way to deterministically quantify exact adoption or people...

Coinbase has 103 million total users: https://www.coinbase.com/about

We could do some sort of aggregation on users and interactions by exchange (and their bitcoin purchases) to get a count, but much of this data is centralized or not disclosed

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Heaps of people don't have accounts on exchanges and use Bitcoin.

I don't think there's any accuracy in number of people.

You should focus on more real numbers, like the hashpower of the network.

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How does hashpower determine adoption (the number of people holding or transacting with Bitcoin)?

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Hashpower is an indirect measurement of adoption.

Basically the more hashpower, the more trust in the network, therefore more people using it.

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Hash rate correlates more closely with Bitcoins price (and the delta with energy costs)...for example a large drop in hash rate (with a drop in price) does not necessarily mean less adoption:

https://studio.glassnode.com/metrics?a=BTC&category=Miners&m=mining.HashRateMean&s=1517800592&u=1664496000&zoom=

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Transaction volume is better I think. Hash rate does not have to scale (linearly) with adoption.

(Not saying that transaction volume is a good metric. It's just better than hash rate imo.)

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