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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 ex
by 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 agoDoes 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 agoThat 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.