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A single transaction on the blockchain most likely corresponds to thousands if not millions of transactions in another layer. Unless you buy straight from a mi
by rawtxapp 5y ago
A single transaction on the blockchain most likely corresponds to thousands if not millions of transactions in another layer.
Unless you buy straight from a miner, the Bitcoin you buy changed hands many times before reaching you and those transfers didn't all occur on the blockchain (could have happened on an exchange, could have happened on lightning network, could happen on another blockchain like eth).
If you look at actual transactions on the blockchain, you'll see that they have an average value of ~300-400K [1] per transaction which means it's acting as final settlement.
1: https://bitinfocharts.com/comparison/bitcoin-transactionvalue.html https://bitinfocharts.com/comparison/bitcoin-transactionvalu...