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So Bitcoin manages to compete with Visa in terms of amount of value settled while being decentralized, permissionless and uncensorable. That's pretty cool. Als

So Bitcoin manages to compete with Visa in terms of amount of value settled while being decentralized, permissionless and uncensorable. That's pretty cool. Also I just checked the median transaction amount on Bitcoin and it's something about $200. So it's reasonable to assume that at least half of all transactions are actual purchases of things and services.

drnonsense42 5y ago
I had to comment because you’ve pulled off possibly the biggest non sequitur I’ve seen on this site. Congrats.
- throwaway248329 5y ago
  You need a false implication for a non sequitur. I didn't imply anything.
  - ac29 5y ago
    You said that a $200 average transaction implies at least half of transactions are for goods or services. That doesnt follow, at all.
- mckirk 5y ago
  And this coming from Dr Nonsense himself! What an honor. (I agree though, that was impressive mental gymnastics.)
zepto 5y ago
> Also I just checked the median transaction amount on Bitcoin and it's something about $200. So it's reasonable to assume that at least half of all transactions are actual purchases of things and services. No it isn’t.
- throwaway248329 5y ago
  Any other reason why you would move $200 worth of BTC? I've only ever done such transactions when I was making purchases with it.
  - AnIdiotOnTheNet 5y ago
    Wash trading.
    - throwaway248329 5y ago
      Wash trading happens on exchanges, not on-chain.
  - zepto 5y ago
    Lots of people invest by buying small amounts regularly.
Jdixnxjsj2 5y ago
Isn't that comparing apples and oranges? Doesn't your bitcoin figure include trading?
- throwaway248329 5y ago
  No, it only includes on-chain transactions. Average daily Bitcoin trading volume over past 3 months on exchanges was $36 bln, according to Yahoo Finance. https://finance.yahoo.com/u/yahoo-finance/watchlists/crypto-top-volume-24hr/ https://finance.yahoo.com/u/yahoo-finance/watchlists/crypto-...

drnonsense42 5y ago

I had to comment because you’ve pulled off possibly the biggest non sequitur I’ve seen on this site. Congrats.

throwaway248329 5y ago
You need a false implication for a non sequitur. I didn't imply anything.
- ac29 5y ago
  You said that a $200 average transaction implies at least half of transactions are for goods or services. That doesnt follow, at all.
mckirk 5y ago
And this coming from Dr Nonsense himself! What an honor. (I agree though, that was impressive mental gymnastics.)

zepto 5y ago

> Also I just checked the median transaction amount on Bitcoin and it's something about $200. So it's reasonable to assume that at least half of all transactions are actual purchases of things and services. No it isn’t.

throwaway248329 5y ago
Any other reason why you would move $200 worth of BTC? I've only ever done such transactions when I was making purchases with it.
- AnIdiotOnTheNet 5y ago
  Wash trading.
  - throwaway248329 5y ago
    Wash trading happens on exchanges, not on-chain.
- zepto 5y ago
  Lots of people invest by buying small amounts regularly.

Jdixnxjsj2 5y ago

Isn't that comparing apples and oranges? Doesn't your bitcoin figure include trading?

throwaway248329 5y ago
No, it only includes on-chain transactions. Average daily Bitcoin trading volume over past 3 months on exchanges was $36 bln, according to Yahoo Finance. https://finance.yahoo.com/u/yahoo-finance/watchlists/crypto-top-volume-24hr/ https://finance.yahoo.com/u/yahoo-finance/watchlists/crypto-...