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Apples and oranges. I'm talking about real usage. You're talking about people exchanging house money for more make believe money. Crypto has been positioned as

by spaceman_2020 4y ago

Apples and oranges. I'm talking about real usage. You're talking about people exchanging house money for more make believe money. Crypto has been positioned as the decentralized alternative to Visa and SWIFT. Their real human users number in the tens of millions daily. The point remains that if the tech falls apart even with 10-20k real daily users, how does it ever scale to 10-20M daily users? Also, Bitcoin transaction volume peaked in 2018 and has been trending down for a while :)

olalonde 4y ago
No, this is the on-chain transaction data ("real usage"). The transactions you are referring to ("exchanging house money for more make believe money") is the exchange volume which does not appear on chain and is a lot higher ($18,000,000,000+ for Bitcoin yesterday). I'm not sure why you say transaction volume peaked in 2018, it didn't. You can zoom out from the graph I linked to and chose the "All" timeframe. There's a lot of variance but 2018 wasn't the peak. > The point remains that if the tech falls apart even with 10-20k real daily users, how does it ever scale to 10-20M daily users? Second layer systems like the Liquid network.
- spaceman_2020 4y ago
  Does this chart look like the volume is growing vis-a-vis the marketcap and marketing? https://bitinfocharts.com/comparison/bitcoin-transactions.html#alltime https://bitinfocharts.com/comparison/bitcoin-transactions.ht...
  - olalonde 4y ago
    That graph is for the number of transaction, not transaction volume. Bitcoin has a max amount of transactions per block and blocks have been more or less saturated since a while so the number of transactions can't actually increase. It certainly doesn't look like it's decreasing. A lot of the transactions has been moving to second layer solutions as well, with on-chain becoming a sort of settlement layer.

olalonde 4y ago

No, this is the on-chain transaction data ("real usage"). The transactions you are referring to ("exchanging house money for more make believe money") is the exchange volume which does not appear on chain and is a lot higher ($18,000,000,000+ for Bitcoin yesterday). I'm not sure why you say transaction volume peaked in 2018, it didn't. You can zoom out from the graph I linked to and chose the "All" timeframe. There's a lot of variance but 2018 wasn't the peak. > The point remains that if the tech falls apart even with 10-20k real daily users, how does it ever scale to 10-20M daily users? Second layer systems like the Liquid network.

spaceman_2020 4y ago
Does this chart look like the volume is growing vis-a-vis the marketcap and marketing? https://bitinfocharts.com/comparison/bitcoin-transactions.html#alltime https://bitinfocharts.com/comparison/bitcoin-transactions.ht...
- olalonde 4y ago
  That graph is for the number of transaction, not transaction volume. Bitcoin has a max amount of transactions per block and blocks have been more or less saturated since a while so the number of transactions can't actually increase. It certainly doesn't look like it's decreasing. A lot of the transactions has been moving to second layer solutions as well, with on-chain becoming a sort of settlement layer.