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Fees show obvious usage. "Statistically nobody uses" isn't fair. The fact that someone is paying interested on their house, a physical asset, to a blockchain a
by Zamicol 5y ago
Fees show obvious usage. "Statistically nobody uses" isn't fair.
The fact that someone is paying interested on their house, a physical asset, to a blockchain application instead of Wells Fargo is a huge deal.
- acdha 5y agoFees show transactions in the system, not real-world impact — smart contracts, anonymization, pump-and-dump, etc. generate a ton of activity for what most people would think of as a single logical operation. What you really want to see are real-world impacts: how many people use the network? How many real business transactions occur daily? and, especially, how much real value is entering or leaving the system? If a bunch of early adopters are churning an NFT back and forth boosting its value, they're definitely paying fees but that's neither economically-useful activity nor popular adoption.
- Zamicol 5y agoFees are a hard cost making gaming systems far harder and costly. $10 billion isn't anything to shake a stick at. That's real business that's having enormous real world impact. https://cryptofees.info/2021 https://cryptofees.info/2021 Other stats are well known and easily googlable. People in the industry are constantly looking at those statistics, just like any other business or industry. Just for starters, Coinbase has 73 million users. Ethereum is doing 1.2 billion transactions a month. https://www.statista.com/statistics/730818/average-number-of-ethereum-transactions/ https://www.statista.com/statistics/730818/average-number-of... https://www.coinbase.com/about#:~:text=Coinbase%20powers%20the%20cryptoeconomy,%2C%20earn%2C%20and%20use%20crypto https://www.coinbase.com/about#:~:text=Coinbase%20powers%20t....