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>"We first document that 90% of transaction volume on the Bitcoin blockchain is not tied to economically meaningful activities but is the byproduct of the Bitco
by hammock 5y ago
>"We first document that 90% of transaction volume on the Bitcoin blockchain is not tied to economically meaningful activities but is the byproduct of the Bitcoin protocol design as well as the preference of many participants for anonymity."
What do you think a similar metric would look like for the US dollar, when you consider the $600 trillion-plus derivatives markets?
- rory 5y agoThe notional value of all derivatives ($600T+, maybe, we think) is MUCH MUCH higher than the dollar amount actually transacted in the derivatives market. So kind of comparing apples to oranges there.