# Analyzing the Bitcoin Network: The First Four Years
## 6 Analysis and Results
### Statistics
#### 6.1.2 Bitcoin Business Statistics
\begin{table}
\begin{tabular}{l l l l l l l l l l l} \hline \hline \multicolumn{1}{c}{**Transaction Value [BTC]**} & \multicolumn{3}{c}{**\#TXs**} & \multicolumn{3}{c}{**Top 3 Business Categories**} & \\ \cline{3-11} \cline{3-11} \multicolumn{1}{c}{**Low**} & \multicolumn{1}{c}{**High**} & \multicolumn{3}{c}{**1 st**} & \multicolumn{3}{c}{**2 nd**} & \multicolumn{3}{c}{**3 rd**} & \multicolumn{3}{c}{**n.a.**} \\ \hline
0.00000001 & 0.00001 & 2,546,657 & 6.8 & Gambling & 60.0\% &
\begin{tabular}{l} Media \\ News \\ \end{tabular} & 3.3\% & Misc. & 3.2\% & 33.5\% \\
0.00001 & 0.0050 & 3,547,994 & 9.5 & Gambling & 43.5\% & Misc. & 5.7\% &
\begin{tabular}{l} Media \\ News \\ \end{tabular} & 2.9\% & 47.9\% \\
0.0050 & 0.0100 & 1,056,999 & 2.8 & Gambling & 77.4\% & Exchanges & 0.7\% & Misc. & 0.3\% & 21.6\% \\
0.0100 & 0.0110 & 2,187,115 & 5.8 & Gambling & 57.0\% & Mining & 4.0\% & Exchanges & 1.2\% & 37.8\% \\
0.0110 & 0.0199 & 1,928,654 & 5.1 & Gambling & 62.2\% & Mining & 0.8\% & Donation & 0.6\% & 36.5\% \\
0.0199 & 0.0505 & 3,133,778 & 8.4 & Gambling & 62.5\% & Mining & 3.4\% & Exchanges & 0.8\% & 33.3\% \\
0.0505 & 0.1001 & 2,387,548 & 6.4 & Gambling & 59.2\% & Mining & 3.8\% & Exchanges & 0.8\% & 36.2\% \\
0.1001 & 1.0000 & 7,160,737 & 19.1 & Gambling & 55.7\% & Mining & 4.4\% & Exchanges & 1.4\% & 38.5\% \\
1.0000 & 2.0008 & 2,645,839 & 7.1 & Gambling & 34.7\% & Mining & 5.9\% & Exchanges & 1.6\% & 57.9\% \\
2.0008 & 10.000 & 3,632,013 & 9.7 & Gambling & 30.4\% & Mining & 5.1\% & Exchanges & 2.3\% & 62.2\% \\
10.00 & 50.590 & 3,759,223 & 10.0 & Gambling & 12.7\% & Mining & 9.8\% & Exchanges & 2.8\% & 74.6\% \\
50.59 & 100.09 & 703,960 & 1.9 & Mining & 11.2\% & Gambling & 6.1\% & Exchanges & 5.6\% & 77.1\% \\
100.09 & 499.06 & 622,339 & 1.7 & Exchanges & 7.0\% & Gambling & 5.3\% & Mining & 4.7\% & 83.0\% \\
499.06 & 1,000.0 & 197,254 & 0.5 & Exchanges & 2.8\% & Gambling & 1.3\% & Mining & 0.3\% & 95.6\% \\
1,000.0 & 10,009 & 134,783 & 0.4 & Exchanges & 1.2\% & Gambling & 0.5\% & Vendors & 0.1\% & 98.1\% \\
10,009 & 100,000 & 20,353 & 0.1 & Exchanges & 0.3\% & Vendors & 0.0\% & Wallets & 0.04\% & 99.7\% \\
100,000 & 500,000 & 206 & 0.001 & Exchanges & 36.4\% & Vendors & 1.9\% & - & - & 61.7\% \\ \hline \hline \end{tabular}
\end{table} 
Table 4: Transaction Value Distribution. Figure 9: Transaction/Value Ratio. are not associated to a business category. Although this table gives a good indication on how business categories are distributed within different value ranges, the numbers might change due to increased tagged services in the Bitcoin economy. In the next statistic the composite of business categories over time are shown. Figure 10 displays the composition in terms of the number of transactions aggregated per month. For comparison reasons, the actual numbers of transactions executed per month (as sum over all business categories; but only tagged transactions, -1.7%) are inserted as an indicator for network activity. The Bitcoin Talk users were the first business category that could be associated with transactions in April 2010. Although they make up 100% of all transactions, the network activity measured by number of transactions is very low. This group of users can be seen as the supporter of the Bitcoin economy that actively exchange information and discuss several issues regarding Bitcoins on the known forum [45]. Hence, it is not surprising that they were among the first active participants. One can see that the business category donation became more active over time. This fact can be attributed to services such as the Faucet Donation, which donate small amounts of Bitcoins to attract more users to the economy. In the time from June to December 2010 more and more businesses were attracted to the Bitcoin economy such as Media News, Bitcoin Services, Mining, provider of IT services as well as miscellaneous businesses. In the beginning of the year 2011 exchange platforms such as Mt.Gox and Bitcoin-24 entering the economy.