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Usage says really nothing about how bitcoin is used, whether it's to buy/sell on exchanges or to actually make real transactions for goods and services.

panarky 3y ago
You can love it or hate it, doesn't really matter. That's the thing about a powerful idea, implemented in code, supported by a large global community, connected by the network -- nobody can kill it. It's like arguing about whether the world would be a better place without strong cryptography. There are many arguments for and against, people will never agree, and it's a waste of time arguing about it. It exists, whether you approve of how it's used or not. And a thing that is unkillable, that will exist in some form for our lifetimes, that a large global community finds useful for whatever reason, will always be valuable.
mrb 3y ago
You repeat another popular misconception. Buys/sells on exchanges do NOT show up as on-chain transactions. The data I'm showing is real on-chain transactions. It's pretty exhausting to have to re-explain this ad-nauseam. But I suppose it is not your fault. There is a lot of misinformation out there.
- cherry_tree 3y ago
  You explained nothing and introduced an entirely novel term “real on chain transactions” which means essentially nothing. How do you define this term? How does it disinclude all transactions of people buying or selling bitcoin speculatively and only include transactions where bitcoin are traded for goods? Then to complain about how exhausting it is to explain nothing and make random claims genuinely sums up most people’s experience with the bitcoin crowd (and their praying on its downfall)
  - mrb 3y ago
    By "real" on-chain transaction I mean "actual" on-chain transaction, ie. a transaction recorded on the blockchain. When people buy or sell bitcoins on exchanges, nothing is recorded on the blockchain. Instead, an exchange records a trade on their internal infrastructure (however it's implemented: a database, a log file, whatever). It's not done on the blockchain.

panarky 3y ago

You can love it or hate it, doesn't really matter. That's the thing about a powerful idea, implemented in code, supported by a large global community, connected by the network -- nobody can kill it. It's like arguing about whether the world would be a better place without strong cryptography. There are many arguments for and against, people will never agree, and it's a waste of time arguing about it. It exists, whether you approve of how it's used or not. And a thing that is unkillable, that will exist in some form for our lifetimes, that a large global community finds useful for whatever reason, will always be valuable.

mrb 3y ago

You repeat another popular misconception. Buys/sells on exchanges do NOT show up as on-chain transactions. The data I'm showing is real on-chain transactions. It's pretty exhausting to have to re-explain this ad-nauseam. But I suppose it is not your fault. There is a lot of misinformation out there.

cherry_tree 3y ago
You explained nothing and introduced an entirely novel term “real on chain transactions” which means essentially nothing. How do you define this term? How does it disinclude all transactions of people buying or selling bitcoin speculatively and only include transactions where bitcoin are traded for goods? Then to complain about how exhausting it is to explain nothing and make random claims genuinely sums up most people’s experience with the bitcoin crowd (and their praying on its downfall)
- mrb 3y ago
  By "real" on-chain transaction I mean "actual" on-chain transaction, ie. a transaction recorded on the blockchain. When people buy or sell bitcoins on exchanges, nothing is recorded on the blockchain. Instead, an exchange records a trade on their internal infrastructure (however it's implemented: a database, a log file, whatever). It's not done on the blockchain.