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There are $146B USD of daily transactions that go through the automated clearing house (ACH) system. While Visa doesn't give a daily transaction amounts, going
by zhdc1 4y ago
There are $146B USD of daily transactions that go through the automated clearing house (ACH) system.
While Visa doesn't give a daily transaction amounts, going off of sources online, in 2018, it looks like they processed around or slightly more than 1B credit and debit transactions with an average value of $80.
$3.5B in daily transactions is nothing to sneeze at, but it's a relatively (very) small slice of the monetary system.
- olalonde 4y agoIndeed, Bitcoin is still relatively small. Its money supply (aka "market cap") isn't even 2.5% of the USD M1 money supply. Not to count all other fiat currencies.
- zhdc1 4y agoThat it's even grown to be even that large is surprising.
- olalonde 4y agoHonestly, when I first heard of it in ~2011 I never expected it to grow as much as it did. I thought it would probably remain a small experiment confined to nerds and hackers. When it first started hitting mainstream news a few years later I was quite amazed. And while I'm here amazed at how far it got, critics are dismissing it because it hasn't replaced USD yet...