The Deep Web Deals With More Bitcoin Transactions Than Bitpay

Deep Web
According to a newest research,the deep web dealt with more Bitcoin transactions than Bitpay last year.

It is reported that according to the most conservative estimate,the six biggest deep web markets’ sales volumes reached to $650K/daily in 2014.

While according to the report of Bitpay,it dealt with 158.8 million USD Bitcoin transactions in 2014, which is $435k/daily.

It is reported that the previous researches are all based on the sum of drug list on every website,this research estimated by the feedback of sellers,each review equals a sale.

The researcher explained that it is a very important factor,as popular drugs can get plenty of feedback,the sales volume of some drugs are even over 1 million USD.

By two years of investigation,collecting and analyzing data from 35 different deep websites,they found that there are great differences between the sellers.Only a minority of sellers got huge profit.By contrast,70% of sellers haven’t sold drugs worth over $1000.

In fact,35 sellers have sold products worth over 1 million USD,and the top seller took 51.5% of the sales volume.

The situation is pretty similar with the data from BitPay.The researcher Tim Swanson expressed that compare with the small retailers accepting Bitcoin,few big retailers get most volume of business,which is accord with 80/20 rule.

According to the newest report of BitPay,the sales of gift cards take up 9% of all volume of business.As there are not many merchants providing gift cards,these transactions are most likely from Gyft and e-Gifter who are the biggest gift cards sellers in the market.

It means that most of Bitcoin transactions are brought by few companies.

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