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Would seem to be a rather misinformed comment even to a crypto-layperson. I’m surprised we don’t have a chorus of cyptofiles informing you that crypto emits le

Would seem to be a rather misinformed comment even to a crypto-layperson. I’m surprised we don’t have a chorus of cyptofiles informing you that crypto emits less greenhouse gases than the traditional banking system, and there are coins/tokens that don’t require melting chips to establish proof of work. I can’t talk to the use of crypto currencies for crime, but I would be surprised if the total volume of transactions were greater than that of traditional currencies (ie cash).

larsrc 5y ago
A couple of million transactions per day: https://www.statista.com/statistics/730806/daily-number-of-bitcoin-transactions/ https://www.statista.com/statistics/730806/daily-number-of-b... That's less than the number of private transactions in a moderately sized city, never mind business or financial transactions. Random comparison: NASDAQ alone sees 30-40 million transactions per day. http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummary http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummar...
- schappim 5y ago
  It’d be real interesting to do an analysis of the last mile power usage of the credit card networks / banking system. I wonder if the giant volume and ubiquity of credit card terminals tips the scales.
Broken_Hippo 5y ago
...but I would be surprised if the total volume of transactions were greater than that of traditional currencies (ie cash). You cannot compare the two. If you are poor and someone gives you crypto, you still won't have better food or a better apartment until you turn the crypto into cash. It isn't surprising that a less useful, simple form of transaction notation (which is really what money is and always has been) has less transactions than the sort of currency that can almost always buy you food, let you watch a movie, and pay your rent.
- mattwilsonn888 5y ago
  Symptom of being early, or more precisely, of having low liquidity comparatively. When the market cap increases liquidity rises and price stabilizes which lead to the final requirements for layer 1 of a currency.

larsrc 5y ago

A couple of million transactions per day: https://www.statista.com/statistics/730806/daily-number-of-bitcoin-transactions/ https://www.statista.com/statistics/730806/daily-number-of-b... That's less than the number of private transactions in a moderately sized city, never mind business or financial transactions. Random comparison: NASDAQ alone sees 30-40 million transactions per day. http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummary http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummar...

schappim 5y ago
It’d be real interesting to do an analysis of the last mile power usage of the credit card networks / banking system. I wonder if the giant volume and ubiquity of credit card terminals tips the scales.

Broken_Hippo 5y ago

...but I would be surprised if the total volume of transactions were greater than that of traditional currencies (ie cash). You cannot compare the two. If you are poor and someone gives you crypto, you still won't have better food or a better apartment until you turn the crypto into cash. It isn't surprising that a less useful, simple form of transaction notation (which is really what money is and always has been) has less transactions than the sort of currency that can almost always buy you food, let you watch a movie, and pay your rent.

mattwilsonn888 5y ago
Symptom of being early, or more precisely, of having low liquidity comparatively. When the market cap increases liquidity rises and price stabilizes which lead to the final requirements for layer 1 of a currency.