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The datapoint I cited was the most concrete irrefutable one. Firstly, BitPay is a big enough payment processor that their growth generally reflects accurately e
by mrb 14y ago
The datapoint I cited was the most concrete irrefutable one. Firstly, BitPay is a big enough payment processor that their growth generally reflects accurately enough the growth of Bitcoin (their market share is actually slighly decreasing over time, as other payment processors sprang up in the recent past). Secondly, all other datapoints show as well that the volume of transactions increases:
- Estimated volume of USD transactions (attempting to ignore "change"): http://blockchain.info/charts/estimated-transaction-volume-usd http://blockchain.info/charts/estimated-transaction-volume-u...
- Silk Road going over 2 years from zero to $2 million/month of Bitcoin revenues: http://arstechnica.com/tech-policy/2012/08/study-estimates-2-million-a-month-in-bitcoin-drug-sales/ http://arstechnica.com/tech-policy/2012/08/study-estimates-2...
- A bitcoin casino went from 0 to $0.5 million profits in 6 months: http://arstechnica.com/business/2013/01/bitcoin-based-casino-rakes-in-over-500000-profit-in-six-months/ http://arstechnica.com/business/2013/01/bitcoin-based-casino...
- Etc. Generally all vendors and payment processors report huge increases.
It is wrong for the author to silently ignore all these facts.
- jessriedel 14y agoWorry less about beating the author and more about editing your top-level comment to be correct. Guvante is right.