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"Virtually zero-level of actual usage" isn't true. Bitcoin has evolved into a store of value and settlement layer, and the majority of payment transactions happ
by Geee 6y ago
"Virtually zero-level of actual usage" isn't true. Bitcoin has evolved into a store of value and settlement layer, and the majority of payment transactions happen on layer 2, with both centralized and decentralized solutions. This is something that wasn't predicted early on, but it's untrue that there aren't transactions which use bitcoin as a source of value. There are a lot, but there aren't any published numbers yet.
- Empact 6y agoFyi, it was predicted very early on. The first reply to Satoshi’s announcement email to the cypherpunks mailing list criticized the idea as unscalable. Satoshi implemented an early version of payment channels in Bitcoin Core around version 0.1. https://en.bitcoin.it/wiki/Payment_channels https://en.bitcoin.it/wiki/Payment_channels Finally, some $49B was transacted yesterday on Bitcoin. Whether billions is virtually zero is a matter of interpretation. https://bitinfocharts.com/bitcoin/ https://bitinfocharts.com/bitcoin/
- quickthrowman 6y ago> Finally, some $49B was transacted yesterday on Bitcoin. Whether billions is virtually zero is a matter of interpretation. There were $2.6T of US treasuries traded last week (approx $520B/day) and average US equity volume is $200B+/day. $49B a day isn’t all that much in comparison.
- Sammi 6y agoSo you're saying we're still early?